Category Archives: Larry Freed

New FXI Sheds Light on Retail Customer Experience

The ForeSee Experience Index: 2013 U.S. Retail Edition

The ForeSee Experience Index (FXI): 2013 U.S. Retail Edition Now Available Download the Report Welcome to a new era of ForeSee Reporting. Today we released the landmark ForeSee Experience Index (FXI): 2013 U.S. Retail Edition. Whereas the ForeSee E-Retail Satisfaction Index (U.S. Holiday Edition) that we’ve produced for the past eight years focus was mainly the Web experience, the FXI was developed with the multichannel, multi-device consumer in mind and for those retailers looking to better understand this generation of customers. Based on 67,600 surveys collected between November 29 and December 17, 2013 for the 100 biggest U.S. retailers as … Read More

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Big News for ForeSee

ForeSee Answers

We’re thrilled to announce that ForeSee has been acquired by Answers. You can read more about it in our joint press release, on TechCrunch or on VentureBeat. This is an amazing opportunity for us to continue to grow with increased resources and to join a very successful company without sacrificing our autonomy, our unique company culture, or any of the personnel that has made us so successful to date. Our headquarters will remain in Ann Arbor and we will continue to grow and expand nationally and internationally, adding to our existing operations in London, Vancouver, New York, and Atlanta. I’ll … Read More

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Big Data + Bad Metrics = A Big Waste of Time

Big Data

I have a saying when it comes to big data: big data with bad metrics is a big waste of time. This “big data trap” can generate a false sense of confidence among company executives and leaders. Bad data is still bad data regardless of the volume collected, and the end result will only lead to bad decisions that will potentially create a negative impact on business. As a CEO, how can you steer your organization clear of this trap? Here are four factors to ensure your big data is good data: Capture the right data Many organizations tend to … Read More

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Why Amazon Ranks Number One in Customer Experience

ForeSee Customer Experienc Model Amazon

“The company that provides the best relationship with the customer will win — not through product, but through the best experience.” – Tesco chairman Sir Richard Broadbent “I would define Amazon by our big ideas, which are customer centricity – putting the customer at the center of everything we do – [and] invention.” – Amazon founder and CEO Jeff Bezos Broadbent and Bezos are just two of many c-level executives who are focusing more than ever on the customer experience, understanding the role it plays in the current and future success of their business. In today’s retail world companies are … Read More

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True Conversion Rate

True Conversion Rate | The ForeSee Blog

In my book Innovating Analytics, I talk about how conversion rate is one of the most commonly misused behavioral metrics and how focusing on an aggregate conversion rate can be misleading.  I also talk about how your true conversion rate is the metric you should care about. True conversion is the number of visitors who came to your site intending to make a purchase who did in fact make that purchase. The same is true with the visitors who came to your site seeking support information. You want to know whether they were able to find the information they sought. … Read More

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Best Practices for Measuring the Omnichannel Customer Experience

ForeSee Omnichannel Customer Experience

Last week, I talked about the challenges of the omnichannel customer experience landscape. This time around I will talk about some of the best practices of measuring the omnichannel customer experience. The winners at omnichannel customer service will be those who start by measuring the customer experience and then utilize voice of customer data to help them define and (in the long run) refine their omnichannel strategies.  Many companies have started on this journey and not too many have yet completed it. We cannot manage what we don’t measure.  And we cannot improve what we are not measuring, because we … Read More

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The ForeSee Experience Index: Top Brands Edition

The ForeSee Experience Index

The ForeSee Experience Index (FXI) Now Available | Download the Report Walmart might not have as good of a chance of catching up to Amazon’s online retail business as they hope. Facebook should be weary of users leaving for other social media sites. Microsoft stands to lose more customers to Apple. For an industry that lives and dies by upselling products and services, financial services companies will likely have trouble in that department in the near future. That is, unless these companies turn their attention to customer experience. A good customer experience is a critical driver of financial success, so … Read More

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The Challenges of the Omnichannel Landscape

omnichannel customer experience

Today’s consumers are multichannel, multi-device users and they are going to interact with companies at every engagement point without a second thought. So, without even consciously deciding to, they are going to expect brand consistency and uniform customer service at every level of interaction. Therefore, business executives and leaders must remember that consumers view their experience with a company as just that – an experience with a company, not as an experience with an individual channel (web, store, mobile, etc.) of a company. Unfortunately, the reality is that most retailers still operate in silos. But this shift also offers the … Read More

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Measuring the Health of the E-Government

ForeSee's Larry Freed on Healthcare.gov and the Citizen Customer Experience

There’s no denying that the rollout of Healthcare.gov has been a debacle.  However, this one site should not be the thermometer to measure the health of all federal government websites or the competence of the federal government when it comes to digital initiatives. Despite what you may be reading (and seeing and hearing!) about one very high-profile and very low-functioning federal site, e-government is actually doing very well overall. In 2013, citizen satisfaction with federal government websites on average reached its highest level since first measured in 2003. This shows that government leaders are listening to the citizens and providing … Read More

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Using WoMI with NPS

Using WoMI with NPS

An enormous amount of research has been done at ForeSee to improve the accuracy and precision of word-of-mouth measurements otherwise known as Net Promoter Score (NPS). The more than two years of research and analysis has led to the development of the Word of Mouth Index (WoMI), as I discuss in greater detail in my book Innovating Analytics (Wiley, September 2013). While NPS measures only “likely to recommend,” WoMI measures both the likelihood to recommend and “likelihood to discourage,” giving executives a more precise and accurate measurement to better understand the customer experience with and to make better business decisions … Read More

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