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Turning Problems Into Profits
APRIL 2023 | VOL. 9
AN APRIL MILESTONE
“If you don’t appreciate your customers, someone else will”
– Jason Langella, Marketing Entrepreneur

Twenty years ago in April, when Paula Courtney bought back her customer experience consultancy from the company she had sold it to three years earlier, she was stumped. What would the new company be called?

She thought about choosing a name that resonated with her Portuguese roots and one of her favorite wines, Vino Verde. This Portuguese wine is produced in the green rolling hills of northern Portugal and has a slight effervescence.

The Verde Group felt right. It gave a meaningful nod to Paula’s heritage and “verde” was a word that stood for growth and prosperity in many languages.

From early days in Toronto to building a global organization, the Verde Group has stayed true to its roots and Paula’s passion for researching, understanding, and interpreting what motivates human beings and how they behave. For two decades, the Verde Group has perfected and employed a proprietary research methodology that’s grounded in human behavior — in particular, the insight that individuals are far more likely to take action in response to negative events than to positive ones.

It’s a methodology that goes straight to the heart of the customer experiences that matter most to customers and to the Verde Group’s clients’ top line in a way that satisfaction analysis cannot.

From financial services to logistics, manufacturing to retail and telecommunications, the Verde Group’s leaders offer expertise across a variety of industries. And their diverse viewpoints result in fresh perspectives that deliver value to clients and lasting satisfaction with the Verde Group’s work. Which could explain why clients who rely on the Verde Group’s proven expertise, like Pratt & Whitney since 1998, stay for the long haul.

Cheers to our first 20 years and here's to the next 20!
March Poll Results
In the March 2023 poll, readers shared that their greatest challenge is achieving complete organizational buy-in on CX priorities. This is not surprising, as we see this challenge play out with many of our clients. The good news is that there is a clear way to accomplish this goal! Connect your CX performance strategy and metrics to the financial performance of the company.

While this may sound easier said than done, it can be achieved and is what Verde Group does with all of our clients. We like to say “We’re all about the money”.

We recently had the opportunity to attend the Qualtrics X4 Summit in Salt Lake City and it was impressive... especially the brands sharing their success stories and the amazing technology on display.

However, one thing struck me as a universal challenge facing most, if not all CX practitioners... Linking CX performance to business (financial) performance. Regardless of how elegant the systems and processes were, the challenge remained.

To amplify this point further, many stated that organizational buy-in and ultimately action was limited until the brand made the explicit linkage between CX metrics and $$.

This is where companies have the greatest opportunity. If a brand wants to take their CX program to the next level, they must find the path forward that consistently links CX and financial performance data.
April 2023 Poll
How well does your organization connect CX performance data to the financial results of the business?
Please choose one answer:
We Don’t
Select
We Tried But Did Not Succeed
Select
Some Departments Do, Others Do Not
Select
We Are Actively Working On It
Select
It Is A Core Part of Our Measurement Strategy
Select
72% of customers will share a positive experience with 6 or more people. On the flip side, if a customer is not happy, 13% of them will share their experience with 15 or more people.
ICYMI
NEW BLOG - B2B CX Challenges: Four Problem-Solving Strategies

Verde CEO Paula Courtney discusses the unique challenges facing B2B manufacturers and effective CX strategies to overcome them.

Read the full blog 👉 HERE
IN THE NEWS
The Sudden Collapse of Silicon Valley Bank
Silicon Valley Bank (and also New York's Signature Bank) failed very quickly, seemingly overnight, as a result of a bank run, in which too many depositors withdrew their funds at the same time. But what triggered this bank run in an economic time when the banking industry holds record levels of excess reserves? It certainly didn't resemble the situation in the early 80s when loan defaults caused the problem. And how does this type of event impact the customer experience expectations of other banks – large and small?

According to Vidhura S. Tennekoon, Assistant Professor of Economics, Indiana University, the collapse boils down to two things: interest rate risk and liquidity risk.

Read the whole article from The Conversation 👉 HERE
ASK US ANYTHING
March 2023's Question: What are some things that can help improve the employee experience and, at the same time, affect the customer experience positively?

  • Collaboration and positive relationships — Employees want to work in an environment that’s safe, fun, and flexible, where there are positive rewards and recognition for the customer experiences they deliver.
  • Empowering employees to make decisions — Employees need some latitude to figure out how to resolve customer problems and make them happy in a way that drives positive business outcomes. This means not always being boxed in and rigidly playing by the rules all the time.
  • Development and training — This is more critical than ever because people are thinking about their careers over the long term. Keep in mind that post-pandemic, there is the need to deliver development and training in a hybrid environment with at-home and in-office employees.
  • Health and wellness — More than ever, people are looking for a rewarding career that doesn’t completely sacrifice their other life commitments and passions.
Send us your questions and stay tuned for the May newsletter to see your questions answered by one of our CX specialists.

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Past Newsletters
2022
  • August
  • September
  • October
  • November
  • December
2023
  • March
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