{"id":118046,"date":"2021-03-30T06:48:16","date_gmt":"2021-03-30T13:48:16","guid":{"rendered":"https:\/\/www.questionpro.com\/blog\/?p=118046"},"modified":"2021-03-30T06:48:16","modified_gmt":"2021-03-30T13:48:16","slug":"customer-experience-nft","status":"publish","type":"post","link":"https:\/\/www.questionpro.com\/blog\/customer-experience-nft\/","title":{"rendered":"Customer Experience & NFT"},"content":{"rendered":"

What Is NFT?<\/b><\/h2>\n

Just like with the emergence of block-chain, we\u2019ll begin to hear about how NFT will profoundly change the customer experience.\u00a0 I\u2019m certainly not the first person to have a title bringing the two concepts together, and I will not be the last.\u00a0 I am not even promising that my discussion will be unique.\u00a0 However, now that I have your attention, I\u2019m going to say that this headline is what we like to call click-bait.\u00a0<\/span><\/p>\n

You see, here in Hawaii we use the acronym NFT for another reason – it is expanded to read \u201cNot For Tourists\u201d.\u00a0 I have lived here less than a year and I am still adapting to a unique location in our country that has a mix of native culture, beautiful environment and many people that want to see it.\u00a0\u00a0<\/span><\/p>\n

I\u2019ll occasionally venture to a new location shared by one of my neighbors and risk being told that this is NFT.\u00a0 To which I have to carefully reply with \u201cI live here\u201d or \u201cI\u2019m a resident here\u201d, because culturally I should not use the phrase \u201cI\u2019m a local\u201d which has heritage connotations that do not apply to me.\u00a0 Even knowing that nuanced phrase indicates that I understand \u201cNFT\u201d and how it applies here.\u00a0\u00a0<\/span><\/p>\n

Why NFT?<\/b><\/h3>\n

Within <\/span>customer experience<\/span><\/a>, one might wonder why we would apply a \u201cNot For Tourists\u201d term.\u00a0 For me, it takes me back to some early discussions I had with my mentor <\/span>Tim Keiningham<\/span><\/a>.\u00a0 The idea that not all customers are the same.\u00a0 It is the idea behind <\/span>revenue weighted NPS<\/span><\/a>.\u00a0 Not all customers need <\/span>closed-loop feedback<\/span><\/a> recovery.\u00a0 A <\/span>drivers\u2019 analysis<\/span><\/a> should perhaps focus on customers that have a certain minimum spend.\u00a0\u00a0<\/span><\/p>\n

All of these ideas focus on the measurement experience of your <\/span>CX Strategy<\/span><\/a>.\u00a0 There is another side of this that involves what you know about your customers so you can share a better experience with them.\u00a0 For example, most airlines have a loyalty program and most of these programs have defined levels of memberships.\u00a0 The requirements are public and everyone can see the benefits.\u00a0 Frequent travelers know that there are also \u201chidden tiers\u201d of loyalty membership.\u00a0 Sometimes they are talked about as if they are rumors, but assuredly they exist.\u00a0 However, in this case they are Not For Tourists, only the most seasoned (usually business) travelers will attain that status and truly know the benefits when they get there.\u00a0\u00a0<\/span><\/p>\n

There are many businesses that have \u201cNot For Tourists\u201d concepts – secret menu items that only get shared by employees that recognize a loyal customer, products not made available publicly and even certain meet-and-greet experiences that one cannot buy.\u00a0 Perhaps soon, some companies will give non-fungible tokens to their most loyal customers.\u00a0\u00a0<\/span><\/p>\n

NFT: Not Restricting, But Sharing<\/b><\/h3>\n

A casual customer might reason that it would not be fair to restrict some of the best perks to only a small set of customers.\u00a0 However, your CX strategy should not be about telling people \u201cno\u201d, but giving them a reason to believe they have the opportunity for more.\u00a0\u00a0<\/span><\/p>\n

When customers believe that you will treat them right if they give their highest level of loyalty, you will undoubtedly see dividends in giving a little extra to the customers.\u00a0 If they see it goes to everyone, it just becomes an expectation.\u00a0 If the bar is set too high to achieve a status of being treated like a valued customer, most customers will find a brand where they feel valued.\u00a0 As you set up a measurement program, it is not always necessary to measure \u201cevery customer on every transaction\u201d, if you know who you bring in the right data with your customer transactions, you should set the <\/span>workflow<\/span><\/a> on your CX program to reach the right mix of customers.\u00a0 When you utilize measures such as our exclusive <\/span>NPS+<\/span><\/a> question, you should be able to easily assess your root cause drivers and churn risk based on the value of the customers.\u00a0 Always keep in mind, sometimes certain things are \u201cNot For Tourists\u201d.\u00a0\u00a0<\/span><\/p>\n

QuestionPro offers some of the most advanced customer experience tools available.<\/strong> Gain valuable insights into your customers\u2019 thoughts and feelings using\u00a0<\/span>QuestionPro CX software<\/span><\/a>\u00a0today.<\/span><\/p>\n

Book Demo<\/strong><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

What Is NFT? Just like with the emergence of block-chain, we\u2019ll begin to hear about how NFT will profoundly change […]<\/p>\n","protected":false},"author":46,"featured_media":116736,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[169],"tags":[],"yoast_head":"\nCustomer Experience & NFT | QuestionPro<\/title>\n<meta name=\"description\" content=\"Now that I have your attention, I\u2019m going to say that this headline is what we like to call click-bait. 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