The origin of the ‘Triple Crown’ concept in business might surprise You.

A cornerstone of the best CX companies is their ability to win the Triple Crown. What is that and How Can You win it too.

🌎 The ongoing challenge for any business is Growing Revenues, Improving Service and Reducing Costs. The best examples can do this simultaneously.
Doing that is called winning the Triple Crown 👑

20 years ago, I worked with a multinational company on a massive transformation program. One day, my colleague had an epiphany: if we could simplify work, we could lower costs.

And if we could achieve successful customer outcomes (SCO) more quickly and with fewer bumps in the road, we would grow revenue.

But that wasn’t enough for us. We wanted to improve service measurably by better aligning our transformation and the resulting processes and experiences with the SCO.

So we set out to create something new and exciting. We called it Triple Crown, and it was first introduced in a book I co-wrote in 2006 called “Customer Expectation Management – Success without Expectation”.

Since then, Triple Crown has become our go-to offering and has often helped us deliver for our client’s double-digit growth.

If you want to know more about Triple Crown benefits and how to implement the approach that makes it real (within days) reach out for a 15-30 minute conversation here:

“This course provided a terrific holistic framework for how I can more richly think about how MOTs connect to Customer Experience and Customer Journey Management. It’s a terrific program that I’d recommend and encourage Professionals to strongly consider.”

Jim Lecinski, Professor, Kellogg School of Management

(Jim is the creator of ZMOTs and Micro MOTs as a VP at Google 2006-2018)

L.G. Lavengood Outstanding Professor of the Year Award (2022)


Connect with Steve: https://linktr.ee/SteveTowers


👉 Become Inspired for the Life You Deserve 💪

Incredibly inspiring words from a unique man – Steve Jobs

When you grow up, you tend to get told that the world is the way it is and that your life is just to live inside the world. Try not to bash into the walls too much. Try to have a nice family life. Have fun, and save a little money. But life that, that’s a very limited life. Life can be much broader once you discover one simple fact, and that is everything around you that you call life.

Was made up by people that were no smarter than you. And you can change it, you can influence it, you can build your own things that other people can use. And the minute that you understand that you can poke life and actually something will, if you push in, something will pop out the other side that you can change it, you can mold it.

That’s maybe the most important thing is to shake off this erroneous notion that life is there and you’re just gonna live in it, versus embrace it, change it, improve it, make your mark upon it. I think that’s very important. And however, you learn that once you learn it you’ll want it to change your life and make it better.

Cuz it’s messed up in a lot of ways. Once you learn that, you’ll never be the same again.

Steve Towers, an expert in customer experience, enjoys spreading his enthusiasm for this field through coaching, keynote speeches, books, and social media content.

He helps companies win the triple crown – the simultaneous ability to increase revenues, decrease costs, and enhance service – through the CEMMethod, which is now in version 15.

With over three decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in software companies like Parallel.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

👉 How You Can Reduce Costs and put your Customer Experience Projects on Steroids 💪

With the emphasis growing on Cost Reduction how can we do that in a constructive way that also delivers better Successful Customer Outcomes?

In today’s competitive business landscape, companies constantly seek ways to lower costs, increase revenues, and improve service to remain relevant and profitable. One proven approach to achieving these goals is by adopting the Customer Experience Management Method (CEMMethod), which includes the Triple Crown approach; this focuses on delivering Successful Customer Outcomes (SCOs) through North Star Alignment and Outside-In thinking.

This article will discuss how the CEMMethod, combined with innovative technologies such as AI, Digitization, and Machine Learning (ML), can lead to significant cost reductions and overall business improvement.

The Triple Crown Philosophy

The Triple Crown management philosophy focuses on achieving three key outcomes: lower costs, higher revenues, and improved service. This is accomplished by shifting from an Industrial Age mindset, which emphasizes internal processes and efficiency, to an Outside-In perspective that prioritizes customer needs and experiences.

The Outside-In approach, championed by thought leaders like Steve Jobs, Jeff Bezos, Tony Hsieh, Richard Branson, and others, involves understanding the Key Customer Outcomes (KCOs) and aligning all aspects of the organization to deliver these outcomes. This North Star Alignment ensures that every decision and action contributes to customer success, ultimately leading to Triple Crown Benefits.

Successful Customer Outcome Canvas

A crucial tool in the Triple Crown methodology is the Successful Customer Outcome Canvas (SCOC). This framework helps organizations identify and prioritize the most critical KCOs, the foundation for all business activities. By focusing on these KCOs, companies can eliminate unnecessary work, streamline operations, and reduce costs.

Outside-In Strategic Matrix

The Outside-In Strategic Matrix (OISM) is another essential component of the Triple Crown approach. This OISM provides a comprehensive view of the organization’s current approach to CX improvement and the actual Customer’s real experience. It is often initially reported that organizations have an incorrect definition of Customer Experience in seeing things from their perspective rather than the customers.

Through the OISM, companies can create a roadmap for achieving SCOs and transforming their businesses.

Six-Step Innovation

The Six Step Innovation process (6Si) supports the Triple Crown approach, which guides organizations through adopting Outside-In thinking and delivering SCOs. These steps involve:

  1. Defining the target area: Identify the process or area that needs improvement.
  2. Identifying Customer Interactions: Determine the obstacles and challenges that hinder the delivery of SCOs.
  3. Describing Actions: Develop strategies and solutions to eliminate Customer Interactions and achieve SCOs.
  4. Conducting Cost and Benefits Assessments: Analyze the potential impact of each action on costs, revenues, and service quality.
  5. Implementing the Innovation improvements
  6. Migrating the Cutomer Experiences to the new way
    Prioritize the most effective actions based on their potential for achieving Triple Crown Benefits.

Customer Experience Management Method (CEMMethod)

The Customer Experience Management Method (CEMMethod) is a comprehensive framework developed by the BP Group and Steve Towers that combines the principles of Outside-In thinking, North Star Alignment, and Triple Crown Benefits. Initially identified in the ’90s by then SVP of Research at Gartner, Jim Sinur, the Triple Crown approach helps organizations adopt a customer-centric approach, leading to significant cost reductions and improved business performance.

Customer Performance Landscape

The customer performance landscape is a term used to describe the overall environment in which customers interact with businesses. It includes factors such as the customer’s needs, expectations, and preferences, as well as the business’s products, services, and overall customer experience.

The customer performance landscape constantly evolves as customers become more demanding and businesses strive to provide better experiences. As a result, it is essential for companies to continually monitor and adapt to the changing landscape to remain competitive.

There are several factors that businesses can consider when assessing the customer performance landscape. These include:

  • The customer’s needs and expectations: What are the customer’s needs and wants? What do they expect from the business?
  • The business’s products and services: How do the business’s products and services meet the customer’s needs and expectations?
  • The overall customer experience: What is the customer’s overall experience with the business? Is it positive, negative, or somewhere in between?

By understanding the customer performance landscape, businesses can make informed decisions about improving their products, services, and overall customer experience. This can lead to increased customer satisfaction, loyalty, and revenue.

Examples of Cost Reduction Through the CEMMethod

Here are three examples of how adopting the CEMMethod and Triple Crown philosophy can lead to significant cost reductions:

  1. Insurance claims processing: An automotive insurance company significantly reduced costs by streamlining its processing system, focusing on delivering the Successful Customer Outcome of a quick and hassle-free claims experience. The company achieved cost savings and improved customer satisfaction by eliminating unnecessary work and adopting AI and ML technologies.

  2. Global B2B supply chain: A global B2B company rationalized its supply chain and shifted its focus toward the Successful Customer Outcome for its clients, resulting in significant cost reductions. By aligning all aspects of the organization toward customer success, the company was able to eliminate inefficiencies and optimize resources.

  3. Pharmaceutical technology: A pharmaceutical company reduced costs by 66% by updating its technology infrastructure and introducing AI to handle labor-intensive tasks. This shift allowed the company to focus on delivering the Successful Customer Outcome of providing high-quality medications to patients more efficiently and cost-effectively.

  4. Global Utility company: In an extensive digitization program, a Customer Performance Landscape was built to demonstrate the connection between IT systems and the delivery of the Successful Customer Outcome. Within a month, it was identified that seventeen of the existing systems no longer contributed to the newly articulated SCO and, after analysis, could be removed. The resulting benefits included the Triple Crown with similar efficiency, effectiveness, and productivity improvements.

Embracing AI, Digitization, and Machine Learning (ML)

Adopting innovative technologies such as AI, Digitization, and ML is crucial for organizations looking to achieve Triple Crown Benefits. By automating repetitive tasks, optimizing resources, and uncovering valuable insights from data, these technologies can help companies reduce costs and improve customer experiences.

AI and ML in Customer Service

One effective way to reduce costs and enhance service quality is by implementing AI and ML technologies in customer service operations. Smart Chatbots, for example, can handle routine inquiries and resolve issues quickly, freeing up human agents to focus on more complex tasks. This approach reduces operational costs and improves customer satisfaction and loyalty.

Digitization in Supply Chain Management

Digitization can lead to significant cost reductions in supply chain management by streamlining operations and increasing visibility across the entire supply chain. Companies can optimize inventory levels, reduce lead times, and minimize waste by adopting digital solutions such as IoT devices, predictive analytics, and real-time data sharing.

Conclusion

The CEMMethod hooked to the Triple Crown philosophy, focusing on delivering Successful Customer Outcomes through North Star Alignment and Outside-In thinking, offers a proven approach to reducing costs, increasing revenues, and improving the service quality. Organizations can transform their businesses, achieve Triple Crown Benefits, and thrive in today’s competitive market by adopting this methodology, along with innovative technologies like AI, Digitization, and ML.

References:

BPGroup.org website: https://www.bpgroup.org

CEMMethod: https://www.cemmethod.com

CXObsession Blog: https://www.cxobsession.com

CEMMethod Classroom Training (US): https://experienceprofessional.com/acxm_invite

CEMMethod Online Training (Global):
https://bit.ly/GCCACXP

Author’s website: https://stevetowers.com


Social media links: Steve Towers: ​https://linktr.ee/stevetowers

LinkedIn: Jim Sinur: https://www.linkedin.com/in/jimsinur/

Steve Towers, an expert in customer experience, enjoys spreading his enthusiasm for this field through coaching, keynote speeches, books, and social media content.

He helps companies win the triple crown – the simultaneous ability to increase revenues, decrease costs, and enhance service – through the CEMMethod, which is now in version 15.

With over three decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in software companies like Parallel.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

The FIVE Best Customer Experience Books You Must Read since 2013.

The FIVE Best CX Books You Must Read (published since 2013)

🌎 A common theme in our change-oriented world is an increasing focus on the Customer. 🔎
Review the BEST CX books based on Sales, Ranking and Reviews.

This list is impartial and not influenced by pushing software, promoting a particular product or bigging up any one author.

If you have any comments, suggestions or corrections, feel free to email me.

  1. Invent and Wander: The Collected Writings of Jeff Bezos
    by Walter Isaacson and Jeff Bezos:

    This is a collection of Jeff Bezos’ letters to shareholders over the years. It provides insights into how Amazon became one of the most successful companies in the world by focusing on customer experience.

    The shareholder letters cover topics such as innovation, risk-taking, and long-term thinking. It also includes Bezos’ thoughts on artificial intelligence, space exploration, and climate change.

  2. The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google 
    by Scott Galloway:

    This book explores the business models of four of the most successful companies in the world: Amazon, Apple, Facebook, and Google. It argues that these companies have become so dominant because they have mastered the art of customer experience.

    Scott provides us with insights into how these companies operate and what makes them so successful. It also explores these companies’ impact on society and what the future might hold for them.

  3. Delivering Happiness: A Path to Profits, Passion, and Purpose 
    by Tony Hsieh:

    This is a memoir by Tony Hsieh, the former CEO of Zappos. It provides insights into how he built one of the world’s most successful online shoe retailers by focusing on customer experience.

    The memoir covers topics such as company culture, employee happiness, and customer service. It also includes Hsieh’s thoughts on entrepreneurship and what it takes to build a successful business.


  4. This is Marketing: You Can’t Be Seen Until You Learn to See 
    by Seth Godin:

    This is a guide to modern marketing. It argues that marketing is not about advertising or selling products but about creating valuable connections with customers.

    Seth provides insights into building a brand that people love and creating products that people need to buy. ‘This is Marketing’ explores technology’s impact on marketing and marketers’ future.


  5. The Customer of the Future: 10 Guiding Principles for Winning Tomorrow’s Business 
    by Blake Morgan:

    Morgan Blake provides insights into how companies can create a customer-centric culture that will help them succeed in the future.

    It covers topics such as customer experience design, data analytics, and employee engagement. The book also includes case studies from companies such as Starbucks, Airbnb, and Uber successfully implementing customer-centric strategies.

Connect with Steve: https://linktr.ee/SteveTowers