As noted in ContactCenterSolutions’s coverage of the contact center solutions community, recognition of excellence in providing outstanding customer experiences (CXs) is not just noteworthy but important. This is particularly true as CX rises to the top of C-level lists of how to obtain and retain sustainable differentiated value. In this regard, the news from Australia of the inauguration of an awards program for those providing the best customer experiences is one to mark down.
Presented by Fifth Quadrant, Australia's largest customer experience strategy, design, innovation and research consultancy, and Flamingo, an Australian customer journey and analytics software company, in partnership with Oracle and CMO Magazine, what is going to be an annual affair recognizing leading customer experience (CX) organizations in Australia is out with its first list of winners.
It is quite the list, and is the result of what is described as an “extensive process which involved a judging panel of distinguished industry professionals and participation from consumers through online voting.”
The sponsors add that, “Entries were evaluated utilizing a rigorous and propriety framework, the Customer Experience Strategy Maturity Assessment Framework, to ensure that the assessment process was robust and objective.” The key attributes of the framework detail characteristics and attributes of mature and highly effective customer experience focused organizations that deliver positive business outcomes and improve the lives of their customers.
Those wishing to be considered were required to demonstrate their excellence across the key areas of:
In addition to using the tool for their submission they were also required to provide customer experience related data in support of their application.
The winners
Without further ado, the big winners were CGU Insurance who was recognized with Australia's Best CX Company Award for 2014. Bupa Australia took home the 2014 Best CX Initiatives award, and Inventium was honored with the 2014 Best CX Organizational Leadership Award.
Taking advantage of the wisdom of the crowd, there were also several People's Choice awards given out. These were based on a poll of 2,500 consumers who were asked to nominate up to five organizations they felt provided them with an amazing customer experience in Australia across six industry sectors.
The people liked:
The sponsors of the awards were extremely gratified by this first project. Dr. Catriona Wallace, CEO, Fifth Quadrant, said, “Customer Experience (CX) is a mega trend driving organizational transformation at the highest level. Fifth Quadrant has found that Australians are prepared to pay 14 percent more for good, consistent customer experience. At the same time, organizations without a CX strategy churn customers and have higher costs. Nine in 10 Australians switch to a competitor because of a poor experience and eight in 10 actively advise friends and family to avoid companies that have provided a poor service.”
“Great progress has been made by board and C-level executives, yet there's no comprehensive process recognizing CX leadership, capabilities and maturity. The Best Customer Experience Companies List is a great opportunity for organizations from all sectors of industry, including the public, private and third sectors, to demonstrate their excellence in providing consumers with a fantastic, compelling, market leading customer experience which ultimately benefits their brand and overall ability to prosper.”
“Oracle is pleased to be partnering with Fifth Quadrant and Flamingo for the Best Companies CX List. Digital disruption is forcing every organisation to rethink their customer engagement models and technology is a key enabler for new customer experience strategies, that's why Oracle is a proud supporter of this initiative. Congratulations to all the winners,” said Thomas Fikentscher, General Manager, Commercial, Oracle Australia and New Zealand.
First, congratulations to the winners. Second, the Wallace comment that nine in ten Australians switch to a competitor following a bad customer experience is something that everyone needs to be mindful of. This is after all a global phenomenon and one list nobody should want to make is if your inability to provide great customer service is trending on social media.