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Cx and the cmo conf pres
 

Cx and the cmo conf pres

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This presentation explores the role of the CMO in delivering Customer Experience (CX). In particular we look at emerging digital business models and how these affect the role and responsibilities of ...

This presentation explores the role of the CMO in delivering Customer Experience (CX). In particular we look at emerging digital business models and how these affect the role and responsibilities of the CMO. The presentation reveals the operational challenges of implementing CX, best practices, and the key actions that CMOs can take to measure and manage CX effectively.

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Cx and the cmo conf pres Cx and the cmo conf pres Presentation Transcript

  • © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.1 What is the role of the CMO in delivering CX? Presenter: Gerry Brown, Senior Analyst, Connected Customer & Marketing Technology, Ovum Gerry.brown@ovum.com October 8, 2013
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.2 Key agenda items 1. • CX, business models and responsibilities 2. • CMO strategies and action items 3. • Measurement and Critical Success Factors
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.3 A customer’s view of CX . . .
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.4 The ‘Whole Product’ Concept
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.5 CX: complete the customer journey AND new innovation +
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.6 A wider definition of CX “The orchestration and integration of all touch-points and activities performed for the customer” What CEM advocates believe:  Customer acquisition is expensive, and profitability comes from longer term Life Time Value (LTV)  Delight the customer with product and service experiences beyond their expectations and be rewarded with customer retention, loyalty and advocacy  A satisfied customer is the most profitable customer. High value customer churn must be avoided at all costs
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.7 Dixon’s ‘Customer Plan’
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.8 A traditional sequential business model Marketing Sales Service Targeting Campaigns Lead Generation Proposals Closing Contracts Install Maintenance & Repair Guarantees
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.9 A modern ‘fluid’ business model Brand Content & Communications CRM & Compliance Care & Continuity
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.10 Q. So who should ultimately be responsible for CX? The CMO? The CSO / CRO? Director of Service? General Manager / COO?
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.11 A. They are all stakeholders – led by the CEO . . . but the CMO has a special leadership role as the brand custodian and aims “to build the brand through positive customer experiences”
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.12 ‘Living the Brand’ CX challenges for the CMO • 69% of firms: don’t empower employees to build and protect the brand • 75%: employees don’t act in ways that embody the brand promise • 78%: employees don’t deliver the required branded customer experience • 66%: no customer measures of success • 81%: no strong belief in link of brand experience to business value CIM 2012 Branded Customer Experience Benchmark
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.13 What does the CMOs universe look like? Campaigns Staff & Agencies Channels Social Web Site ROI Sales enablement
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.14 Who does CX well?
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.15 So what do CX Champions do differently? 1. Recruit and train to deliver the brand promise 2. Differentiate through service and personalisation 3. Promote from within and reward staff well 4. Innovate as a result of listening 5. Under-promise and over-deliver 6. Data-driven – measure everything
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.16
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.17 ING on Customer Intelligence Kim Verhaaf, Director, Customer Intelligence, ING “Our goal is to detect life events of our customers and influence their buying cycle with relevant products and services. First we have to build a relationship of trust, which enables us to offer better service to that customer”
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.18 First impressions – seconds count 5 seconds: 30% leave website 37% won't return 27% go to competitor 10 seconds: Communicate your value proposition or lose customer 30 seconds: More likely to stay 2+ minutes
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.19 Be clear on what you want to measure – and how? 3. Advocate 2. Loyalty4. Retention 1. Like
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.20 Most important attributes for delivering CX Foviance (2012)
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.21 The take-aways  Remember CX involves the customer journey AND a ‘whole product’ experience  CX requires a more flexible and fluid business model  The CEO is responsible for CX – but the CMO is a key stakeholder  Retailers, FMCG and Service companies have to consider CX  Pro-activity and speed of response are key  Measurement has challenges for the ‘soft science’ of CX  Your CEO and the Board need to be ‘sold’ . . .
  • © Copyright Ovum. All rights reserved. Ovum is an Informa business.22 Q & A?