CX Benchmark Report Findings on Customer Experiences in the Heavy Equipment Industry

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About Me Christine Lockwood University of Iowa With SATISFYD since 2013

Poll Question. How does your dealership measure Customer Experience today?

What is the Net Promoter score? Net Promoter Score, or NPS® measures your customers’ experience and is an indicator of company growth. Measured by the question, “How likely are you to recommend [Dealer/Company] to a friend or colleague?” Need to show a graphic algorithm – add a slide about challenges that we hear A common challenge. 9 or 10, we should consider 8’s too. -- to talk about buy-in. Discuss research contrast to CSI 1-5, people do not give 5, will give 4’s. Sorry if my explanation was not fully conveyed.  I’ll try again.  The passives are not detractors but passives do take away from the percentages of the NPS calculation.  In the scenario I gave where 5 passives, 5 detractors and 0 promoters.  Detractors are 50% of the overall total responses, the other 50% are passives so in the NPS calculation you have 0% promoters – 50% detractors = -5 NPS score.   Another way to look at this is: Out of 12 responses total 3 Detractors or 25% of total responses 3 Passives or 25% of total responses 6 Promoters or 50% of total responses The NPS calculation is Promoters 50% - Detractors 25% = 25 NPS *Net Promoter, Net Promoter Score, and NPS are trademarks of Satmetrix Systems, Inc., Bain & Company, Inc., and Fred Reichheld

Customer Net Promoter Score(NPS) 78 Customers’ willingness to recommend their dealer to a friend or colleague. Benchmark is for parts & service departments for heavy equipment dealers in North America actively participating in SATISFYD’s Dealer Customer Experience Program.

Industry trends affecting CX Knowledgeable Helpful Accurate Responsive

Poll Question. Which area do you feel your dealership has the biggest opportunity for improvement?

Industry Trends

Ag + Turf Industry Trends NPS Overall NPS has gone up by 2 points from the previous year Responsive Service dept. went up by 2 points Parts dept. went down by 1 point NPS Service Dpt. NPS went up by 6 points from the previous year

C & F Industry Trends NPS Overall NPS has gone up by 2 points from the previous year Knowledgeable Overall went down by 1 point Responsive Service dept. went up by 2 points Parts dept. went down by 2 point

Trucking + Other Industry Trends NPS Overall Stayed the same Accurate Overall went down by 1 point Responsive Parts dept. went up by 1 point

10 Best Practices Shared by Dealers

10 Best Practices Shared by Dealers Get an email address and phone number Increase responses to surveys by asking for feedback Make customer experience the priority in your dealership Get managers involved Communicate scores with all staff monthly Establish a strategy for continuous improvement Ask staff what they are hearing Contact customers with issues within 24 hours Share with your customer what you’ve implemented Adopt technology to support customer experience strategy

Tips on Making a Change

Tips on Making a Change Define your approach Define what constitutes an issue Establish a framework for staff to resolve problems Create a place for employees to record the steps they took Define appropriate length of time to close the loop Train on a regular basis Encourage on premise follow up SATISFYD’s Resolution Framework Initiate contact with empathy Confirm Understanding Ask if there is anything else Ask for a solution Commit to measurable action Confirm action meets customer expectations

Questions Please use the question box in your GoToWebinar panel.

Thank you! Christine Lockwood SATISFYD clockwood@satisfyd.com 630.276.7941