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Christopher Wallace is the Co-Founder and President of InnerView, which is a marketing consulting firm that helps companies effectively transfer their brand strategy to their customer-facing employees and partners. Chris builds upon previous success as an entrepreneur in the sales consulting and coaching space, as well as his more than 15 years of sales, marketing and corporate leadership. Chris’ primary professional focus is to help companies better align the strategies of the board room with the daily execution at the front lines. Beyond his work with clients, Chris is able to apply his passions as a teacher and author. He has taught as an adjunct MBA professor at Temple’s Fox School of Business and has been published in outlets such as Harvard Business Review and Chief Marketer and is a contributor to publications including Inc.com and Forbes.com. Chris received a B.A. in Public Relations from Syracuse University’s Newhouse School and his MBA from Temple University. He lives in Villanova, PA with his family.
Questions
Highlights
Yanique shared - It's interesting that you say that it's a breakdown because marketing and advertising costs a whole lot of money and organizations have extensive budgets dedicated to marketing and advertising their businesses every single year. Whether as you said, they're large, medium or even small organizations, you will allocate quite a percentage of your income or reserves or capital to ensure that the business marketed and advertised.
Yanique stated that basically you're kind of reinforcing the fact that customer experience starts from within.
Christopher agreed and mentioned that their slogan is, “Win From Within.” So, they're big believers that the customer experience needs tremendous attention, it needs tremendous investment and it's an investment that pays off in a big way.
Yanique asked - Do you have any statistics, I know you said you used Focus Vision was the name of the company that does insight intelligence. Do you have any research that pretty much supports the ratio of how much companies invest to market and advertise per year versus how much they invest in training and development and customer experience training?
Christopher shared that they don't specifically on that, but he can tell you this, when they asked the executives in their study, what they thought the value of a consistent brand message was. So, they asked specifically for those people that thought that their organization was pretty well aligned in their brand message throughout their company, what was that worth to their organization? 62% of those people valued it at more $10 Million Dollars annually. So, nearly two thirds put an actual revenue tag, a revenue price tag on an align brand story at more than $10 Million Dollars a year. So, they look at that and say, “Organizations don't realize necessarily how much money is slipping through the cracks.” One interaction here, one interaction there but when we asked these folks point blank, they said, “Well yeah, actually the success of our marketing plan, the success of our brand really does depend on winning one conversation at a time.” And when you start to add up with the losses, it was more than $10 Million Dollars, that was the category they selected, was more than $10 Million Dollars annually. Who knows how much it could actually be for the organizations they studied, it could be 10 to 20, it could be $50 Million Dollars or more depending on the size of the organization.
Yanique stated that not because they're not measuring it doesn't mean that there isn't something slipping through the cracks.
Christopher agreed and shared that he thinks that it's one of those things where he’s sure Yanique knows and from the guests that she’s had on measuring it. Measuring it he thinks is perceived to be hard, measuring the impact of customer experiences perceived to be hard. He doesn't think it's that hard, every engagement that they do, they focus on very tangible revenue based metrics around just improving the quality of the interaction between the frontline team member that what they call a brand representative and the customer. If you improve their ability to tell your brand story, you are going to earn more business and if you just measure it the right way and you look at the right metrics, it's not that hard to quantify.
Yanique asked - Do you think there's one question that you think all companies should ask their customers about their experience?
Christopher stated that that's a tough question. He knows the one that they pay a lot of money to ask, “How how likely are you to recommend this product or service to a friend or family?”That’s the NPS. They worked closely with some NPS customers as Fred Reichheld would call it, “The Ultimate Question” that's the title of his book. But in terms of asking, it's so hard to say that one question can actually capture it. He’s going to answer a question with a question. He’s going to say that when they talk to organizations, there's a question that they ask their executives. They asked the question, “How confident are you that the people who represent your brand can tell this story the way that you built it?”And that's sort of their measure of trying to figure out if they have alignment issues with their brand internally. How confident are you that the people who represent your brand can tell this story the way that you built it? And if you're talking to a product owner or a brand owner or somebody in consumer marketing, the answer to that is it's kind of a moment of truth question for them and they rarely hear that there's a lot of confidence. So, he would say to any business owner, if you have other people out representing you, other than just yourself, ask yourself that question. How confident are you that the people representing you can do it the way that you want it done every single time?
Yanique shared that that's a very good question, bills a lot of introspect for you to really think about the individual or the company or the set of people that are representing you and the platform that they are representing you on and are they really telling the story that how you built it to be told.
Yanique reiterated – So, listen to the person that you're speaking to whether it's your team member or your employee and after listening, you need to ask really good questions to understand what they want and where they're coming from because those things will help you to be more developed in figuring out what is motivating them, which nine out of 10 times is not only financial.
Christopher 100% agreed and stated that there is such a huge misconception that people are, as they say, coin operated. You put in another quarter and people will do what you want them to do. But the reality is, the intrinsic motivation is much higher. When people talk about engagement and engaging employees and things like that, he doesn't think most people know what that actually means. Engagement is that people feel part of something, it's that they feel like they're part of the process, they're part of the mission, they just want to feel like the work that they're doing is impacting something bigger and they want to feel like it's happening with them, not to them. And the best way to build that relationship and that trust is start by asking them things and asking their point of view and genuinely being curious to hear the answer. It can't be, it can't be an outcome in mind, and it has to be with true curiosity.
www.innerviewgroup.com
LinkedIn @christopherewallace
Links
5
3131 ratings
Christopher Wallace is the Co-Founder and President of InnerView, which is a marketing consulting firm that helps companies effectively transfer their brand strategy to their customer-facing employees and partners. Chris builds upon previous success as an entrepreneur in the sales consulting and coaching space, as well as his more than 15 years of sales, marketing and corporate leadership. Chris’ primary professional focus is to help companies better align the strategies of the board room with the daily execution at the front lines. Beyond his work with clients, Chris is able to apply his passions as a teacher and author. He has taught as an adjunct MBA professor at Temple’s Fox School of Business and has been published in outlets such as Harvard Business Review and Chief Marketer and is a contributor to publications including Inc.com and Forbes.com. Chris received a B.A. in Public Relations from Syracuse University’s Newhouse School and his MBA from Temple University. He lives in Villanova, PA with his family.
Questions
Highlights
Yanique shared - It's interesting that you say that it's a breakdown because marketing and advertising costs a whole lot of money and organizations have extensive budgets dedicated to marketing and advertising their businesses every single year. Whether as you said, they're large, medium or even small organizations, you will allocate quite a percentage of your income or reserves or capital to ensure that the business marketed and advertised.
Yanique stated that basically you're kind of reinforcing the fact that customer experience starts from within.
Christopher agreed and mentioned that their slogan is, “Win From Within.” So, they're big believers that the customer experience needs tremendous attention, it needs tremendous investment and it's an investment that pays off in a big way.
Yanique asked - Do you have any statistics, I know you said you used Focus Vision was the name of the company that does insight intelligence. Do you have any research that pretty much supports the ratio of how much companies invest to market and advertise per year versus how much they invest in training and development and customer experience training?
Christopher shared that they don't specifically on that, but he can tell you this, when they asked the executives in their study, what they thought the value of a consistent brand message was. So, they asked specifically for those people that thought that their organization was pretty well aligned in their brand message throughout their company, what was that worth to their organization? 62% of those people valued it at more $10 Million Dollars annually. So, nearly two thirds put an actual revenue tag, a revenue price tag on an align brand story at more than $10 Million Dollars a year. So, they look at that and say, “Organizations don't realize necessarily how much money is slipping through the cracks.” One interaction here, one interaction there but when we asked these folks point blank, they said, “Well yeah, actually the success of our marketing plan, the success of our brand really does depend on winning one conversation at a time.” And when you start to add up with the losses, it was more than $10 Million Dollars, that was the category they selected, was more than $10 Million Dollars annually. Who knows how much it could actually be for the organizations they studied, it could be 10 to 20, it could be $50 Million Dollars or more depending on the size of the organization.
Yanique stated that not because they're not measuring it doesn't mean that there isn't something slipping through the cracks.
Christopher agreed and shared that he thinks that it's one of those things where he’s sure Yanique knows and from the guests that she’s had on measuring it. Measuring it he thinks is perceived to be hard, measuring the impact of customer experiences perceived to be hard. He doesn't think it's that hard, every engagement that they do, they focus on very tangible revenue based metrics around just improving the quality of the interaction between the frontline team member that what they call a brand representative and the customer. If you improve their ability to tell your brand story, you are going to earn more business and if you just measure it the right way and you look at the right metrics, it's not that hard to quantify.
Yanique asked - Do you think there's one question that you think all companies should ask their customers about their experience?
Christopher stated that that's a tough question. He knows the one that they pay a lot of money to ask, “How how likely are you to recommend this product or service to a friend or family?”That’s the NPS. They worked closely with some NPS customers as Fred Reichheld would call it, “The Ultimate Question” that's the title of his book. But in terms of asking, it's so hard to say that one question can actually capture it. He’s going to answer a question with a question. He’s going to say that when they talk to organizations, there's a question that they ask their executives. They asked the question, “How confident are you that the people who represent your brand can tell this story the way that you built it?”And that's sort of their measure of trying to figure out if they have alignment issues with their brand internally. How confident are you that the people who represent your brand can tell this story the way that you built it? And if you're talking to a product owner or a brand owner or somebody in consumer marketing, the answer to that is it's kind of a moment of truth question for them and they rarely hear that there's a lot of confidence. So, he would say to any business owner, if you have other people out representing you, other than just yourself, ask yourself that question. How confident are you that the people representing you can do it the way that you want it done every single time?
Yanique shared that that's a very good question, bills a lot of introspect for you to really think about the individual or the company or the set of people that are representing you and the platform that they are representing you on and are they really telling the story that how you built it to be told.
Yanique reiterated – So, listen to the person that you're speaking to whether it's your team member or your employee and after listening, you need to ask really good questions to understand what they want and where they're coming from because those things will help you to be more developed in figuring out what is motivating them, which nine out of 10 times is not only financial.
Christopher 100% agreed and stated that there is such a huge misconception that people are, as they say, coin operated. You put in another quarter and people will do what you want them to do. But the reality is, the intrinsic motivation is much higher. When people talk about engagement and engaging employees and things like that, he doesn't think most people know what that actually means. Engagement is that people feel part of something, it's that they feel like they're part of the process, they're part of the mission, they just want to feel like the work that they're doing is impacting something bigger and they want to feel like it's happening with them, not to them. And the best way to build that relationship and that trust is start by asking them things and asking their point of view and genuinely being curious to hear the answer. It can't be, it can't be an outcome in mind, and it has to be with true curiosity.
www.innerviewgroup.com
LinkedIn @christopherewallace
Links