In the spirit of Thanksgiving,I’d like to take this opportunity to thank each and every customer around the world for their strong loyalty to Cincom. For more than 40 years, Cincom has built a stellar reputation for customer success based on three key foundations:
- Total Customer Experience – Customer centricity is the core fabric of Cincom, and it permeates in all aspects of our business — from people and process to technology.
- Transparency – Our relationship with our customers is that of a valued partner. We believe in total transparency of all pertinent information in an effort to build a remarkable solution that exceeds customer needs on all fronts.
- Transformation – In our quest for “Simplification Through Innovation®,” we routinely challenge ourselves for better ways of doing things and to deliver a transformational value proposition.
Total Customer Experience
Let me elaborate on our Total Customer Experience philosophy. (I’ll cover other foundational elements in subsequent postings.) We send out weekly customer-service evaluations to all of the customers who have contacted us regarding any inquiry or service incident. Below are the aggregated results (from inception until today) for our flagship product, “Cincom® Control™,” in two key categories: Overall Support Quality and Product Recommendation.
- Overall Support Quality – 97% of customers rate Cincom’s overall quality of support as Good, Very Good or Excellent.
- Product Recommendation – 81% of customers would recommend Cincom’s Control ERP product to others.
The Product Recommendation metric is similar to a Net Promoter Score (NPS). NPS is a company-loyalty metric calculated by subtracting the percentage of detractors (customers who are not likely to refer the company to others) from the percentage of promoters (customers who are likely to recommend the company to others). For more information about NPS, visit http://www.netpromoter.com—a site managed by Satmetrix.
For Product Recommendation, we asked our customers to respond with Yes, No or Undecided to the question, “Would you recommend this particular Cincom software to another company?” The overall results for Control ERP were:
- 81% of customers selected “Yes,”
- 18% of customers selected “Undecided” and
- 1% of customers selected “No.”
Assuming that “Undecided” customers are neither promoter nor detractor, the NPS of Control ERP is 80% (i.e., 81% Promoter minus 1% Detractor).
In their latest compilation of benchmark studies, Satmetrix reported the following NPS ranges across key industry verticals.
There is no benchmark study of B2B providers, but it’s obvious that superior customer loyalty (i.e., NPS > 75%) is a rare feat that is accomplished by only a few providers. Below is a list of NPS Stars by Industry.
Within the enterprise software arena, the very notion of customer service is taken for granted resulting in most providers having a consistent track record of over-promises, under-delivery, and over-pricing.
Based on my experience, the average NPS for the enterprise software industry is somewhere in the 40% range. Thus, Cincom’s customer-satisfaction and loyalty numbers clearly set the benchmark for our entire industry.
Let’s look at a real example to demonstrate “Total Customer Experience” in action. On November 30, 2011, one of our strategic customers, Bristol Aerospace along with Cincom, co-hosted and organized a “Demo Day” event at their premise to present our Control ERP product to their parent company, Magellan Aerospace, and two other customers (a global leader in large jet aircraft manufacturing and a leader in agricultural storage business). Twenty-five people from four customer companies gathered in Winnipeg, Manitoba, and spent half a day of their valuable time to learn and discuss Control ERP’s key capabilities for transforming their manufacturing operations. The event started out with Bristol Aerospace sharing their specific challenges and pain-points and how they and Cincom worked together in crafting an optimal solution. In a highly interactive discussion, Bristol Aerospace shared the success story regarding their migration to Control ERP and recommended that the other customers follow suit.
I witnessed this event in person and was humbled by the entire experience. It is a solid testament to our customers’ confidence and trust in us to drive transformational business impact for them on a day-in/day-out basis. From my perspective, if you are truly delivering a “Total Customer Experience,” you don’t even need to ask your customers for their referral; it’s something they would have done without your asking. Our success is largely driven by our customers’ successes, and we aspire to do great things while working in close cooperation with them. We are not perfect and still have a lot of work to do before we can establish ourselves as the gold standard of customer experience. However, it’s nice to know that in the fast-paced and fragile world in which we live, the notion of “customer experience,” “customer satisfaction,” and “loyalty” still means a lot to a select-few companies like Cincom.
We are always looking forward to hearing from the hearts and minds of our customers. Please contact us today with any questions you may have.