c-level profiles in the age of the customer › ... › 06 › c-level-profiles_ebook.pdf ·...
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CEOCFOCOOCIOCMO
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“There is only one boss. The Customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.”
Sam Walton
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of customers who had a positive experience told 10+ people about it.
of people who had negative experiences told 10+ people about it
23% 48%
Introduction:
As Sam Walton famously pointed out, customers can spend their money wherever they would like. Statistics point out that if customers have a good experience with a company, they’re likely to bring their friends. But, if the customer experience was less than pleasant, they’re probably going to avoid that company in the future and there’s a good chance they’ll take some other potential customers along with them.
The separation that exists between upper echelons of a company and the individual customer may seem like a distance with many layers in between. Today, however, the distance is narrowing and the importance of the customer experience is beginning to touch each department from the top down.
Harvard Business Review
Harvard Business Review
Chief Executive OfficerAlso Related: CBO, CAO
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
Warren Buffett, CEO of Berkshire Hathaway
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The CEO (Chief Executive Officer) is the highest-ranking corporate position, responsible for overseeing the current and future direction of the company. In many cases, the CEO also operates as the company's president and reports directly to the board of directors, and primarily to the chairman of the board.
Notable CEOs: Warren Buffett, Jeff Bezos, Marissa Mayer
Customer Experience Connection:
In general, the CEO is the most important ambassador of the company, responsible for quarterly results. Though not often engaged with customers directly, most CEOs understand that the customers determine the success of the company. Weighing the organization’s current standing and driving the vision for the future, today’s CEOs are well aware of the shifting trend towards customer centricity and the importance of investing in the customer experience.
of customers have spent more in response to good customer service.
increase in customer retention can increase profits by up to 125%.
of customers switch companies due to poor service.
74% 5% 66%
American Express Bain & Co
Accenture
Chief Financial OfficerAlso Related: VP Finance
“Today, I think a CFO needs to be more of an operating CFO: someone who's using the financial data and the data of the company to help drive strategy, the allocation of capital, and the management of risks.”
Anthony Noto, CFO of Twitter
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The CFO (Chief Financial Officer) is the corporate officer responsible for weighing financial risks and managing the financial operations of his company. In many organizations, the CFO also serves as the treasurer. Because managing quarterly results depends on bookkeeping skills, the CFO is often seen as the second most important person in the company, after the CEO.
Notable CFOs: Safra Ada Catz, Carol Tomé, Anthony Noto
Customer Experience Connection:
Typically, the CFO is a bottom line type of figure in an organization. The Customer Experience is generally a black and white issue. If customers are happy, the numbers will reflect it. If they’re not, the CFO’s department is the one that will need to find cover for the financial avalanche the company may experience. For this reason, customer satisfaction is incredibly important to the CFO and his or her staff.
of organizations that fail to plan their self-service implementations will incur higher customer service costs and will not achieve the savings and benefits expected By the end of 2016.
Harvard Business Review
62% of US online adults said they would pay more for a brand that provides a personalized service or experience.
Forrester Research
80% At least
Chief Operating OfficerAlso Related: CAO
"Social media has created a historical shift from the historically powerful to the historically powerless. Now everyone has a voice."
Sheryl Sandberg, COO of Facebook
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Gartner Inc.
73%
85% Forrester Research
Customer Experience Connection:
Although the responsibilities of a COO vary from organization to organization, their involvement in the major operations of the company make the customer an extremely high priority. In fact, in many organizations customer related senior management will report directly to the COO.
of its relationship with an enterprise without interacting with a human.
By 2020, the customer will manage
As second in command, the Chief Operating Officer is often one of the three highest-ranking executive positions in an organization. The COO is responsible for the daily operation of the company and routinely reports to the highest ranking executive, usually the CEO.
Notable COOs: Sheryl Sandberg, Jeff Williams, Tim Cook (became CEO)
of consumers say that valuing their time is the most important thing a company can do to provide them with good service.
Chief Information OfficerAlso Related: CKO, CTO, Director of IT
“CIOs who are able to guide successful digital transformations will eventually become CEOs”
Marc Benioff, CEO of Salesforce
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The Chief Information Officer is a relatively new position in the list of top corporate executives. It is the position primarily responsible for information technology within an organization. With the recent proliferation of and importance placed on information technology systems the role of the CIO has become one a key contributor to formulating strategy.
Notable CIOs: Dave Barnes, David A. Bray, Kim Stevenson
view accuracy and quality of information as the most important attribute of customer experience.
Web self-service use increased from 67% in 2012 to
Forrester Research
82%
76% Deloitte
Customer Experience Connection:
The CIO is directly responsible for how information is moved around within an organization, both for internal and external use. Knowledge Management from both internal and external perspectives - understanding which information and how it is accessed by employees and clients – is an extremely important aspect of the CIO’s role in a company.
in 2014.
Chief Marketing OfficerAlso Related: VP Marketing, CMT
“Whether B2B or B2C, I believe passionately that good marketing essentials are the same. We all are emotional beings looking for relevance, context and connection.”
Beth Comstock, Former CMO of General Electric
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68% 89% 89%
Forrester Research Gartner Inc.
Gartner Inc.
A CMO (chief marketing officer) is the C-level executive in an organization who is responsible for all marketing activities and those which relate to creating, communicating and delivering materials or offerings of value to customers or business partners. Primarily, the CMO focuses on facilitating growth within an organization, often leading branding efforts, and shaping the company’s public profile.
Notable CMOs: Ann Lewnes , Philip W. Schiller, Beth Comstock (now Vice Chair)
Customer Experience Connection:
Of all the positions in the C-Suite, the CMO operates most directly with an organizations client and customer base. They often represent the voice of the customer and understand well the importance of having a strong customer experience. As the brand leaders in a company, effective CMOs have to be very mindful of what customers want and what they are expecting.
of customers are unlikely to return to a website that does not provide a satisfactory customer experience.
of marketing leaders expect to compete primarily on the basis of customer experience by 2016, as compared with 36% four years ago.
of companies expect to compete mostly on the basis of customer experience.
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nanorep is a multi-dimensional solution for managing customer experiences dynamically across a brand’s entire digital landscape. Powerful live analytics and the ability to edit the knowledge base on the fly are an integral part of the customer process. nanorep systematically orchestrates the entire experience from start to end.
Nanorep allows companies to reconnect with their customers by providing truly satisfying interactions in a natural place. We give companies a simple solution that provides immediate value, and empowering customers with more satisfying experiences.
For CustomersPersonalized guidance is given in nanoseconds wherever the customer happens to be, making digital the customer’s preferred experience. Customers enjoy a continuous experience that takes many variables into account such as tone, channel, history, etc.
Technologynanorep’s unique algorithm deciphers what customers truly intend and offers suitable actions right inside the nanorep widget. Our dynamic resolution technology delivers the optimal scenario for funneling the customer into the right path on his journey.
How and Why We Do ItFrom the moment nanorep is integrated in a brand, it completely transforms the entire environment from being cold and unapproachable to warm and welcoming. We value things like human connection and community, and are completely focused on reminding everyone about what’s really important. Even when the interaction is technology based, today’s customer expects understanding and caring to be part of the equation.
nanorep - Simple, Intelligent, Personalized guidance solution for digital customer experience.
About nanorep
For more informationVisit our website www.nanorep.com | Email us [email protected]