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Measure, Understand and Improve Customer Experience | MCorp Consulting

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Customer experience is the competitive battleground of today’s economy. That's why tracking and understanding it is so important; but it’s difficult for most companies to do...

Customer experience is the competitive battleground of today’s economy. That's why tracking and understanding it is so important; but it’s difficult for most companies to do...

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  • 1. www.mcorpconsulting.com Map the territory between you and p y y your customers so that you can see opportunities you didn’t know were there. Measure, understand and improve customer experience, and the touchpoints that drive it. i d th t h i t th t d i it © 2009 MCorp Consulting, All Rights Reserved
  • 2. www.mcorpconsulting.com Introduction Across industries organizations and audiences, the quality of industries, audiences the customer experience drives the quality (and profitability) of the relationships you have with your customers. From a presentation to the D Brand Summit, this presentation explores the importance of customer experience, how and where it occurs and steps you can take to improve it. So enjoy occurs, it enjoy. If you’d like to learn more, just give me a call. Michael Hinshaw, Managing Director mhinshaw@mcorpconsulting.com Direct: 1.415.526.2651 Follow me: twitter.com/michaelhinshaw Visit us online: mcorpconsulting.com p g © 2009 MCorp Consulting, All Rights Reserved
  • 3. www.mcorpconsulting.com Customer Experience is the competitive battleground of today’s economy. today s economy  Poor customer experience is a leading driver of customer churn. f  87% of all consumers will never go back to an organization after a negative experience. 1 1.) Right Now Technologies and Harris Interactive, October 2008 © 2009 MCorp Consulting, All Rights Reserved
  • 4. www.mcorpconsulting.com The cost of getting – and the danger of losing – customers is exceedingly high high.  Acquiring a new customer can cost up to 5 times more than retaining a current customer. 2  And a 2% increase in customer retention can have the same effect on profits as cutting g costs by 10%! 2 3.) SatMetrix, Bain & Co. © 2009 MCorp Consulting, All Rights Reserved
  • 5. www.mcorpconsulting.com Customer experience may be the most important way to grow a business today today.  83% of senior brand marketers state: “Customer experience is among the most critical determinants of brand strength and business growth.” 2  Yet HALF of all organizations state they cannot effectively measure it. 3 2.) CMO Council 3.) Forrester Research © 2009 MCorp Consulting, All Rights Reserved
  • 6. www.mcorpconsulting.com Tracking and understanding customer experience is very important. But it’s difficult for most companies to do. © 2009 MCorp Consulting, All Rights Reserved
  • 7. www.mcorpconsulting.com The limitations on data and customer experience insight are great great.  Half of senior executives state: “Lack of measurement is a significant obstacle to improving Customer Experience.” Experience. © 2009 MCorp Consulting, All Rights Reserved
  • 8. www.mcorpconsulting.com Is this a surprise? What happened with CRM?  The $74B CRM industry was built to measure customer interactions; But it isn t enough. isn’t  Organizations also need to understand customer wants, needs and goals wants goals.  How do your customers define “customer experience success”? “ i ? © 2009 MCorp Consulting, All Rights Reserved
  • 9. www.mcorpconsulting.com Our approach? Measure and improve the interactions between you and your customers. © 2009 MCorp Consulting, All Rights Reserved
  • 10. www.mcorpconsulting.com Each and every interaction between you and your customers is a touchpoint touchpoint. Customer Interactions; “Touchpoints” © 2009 MCorp Consulting, All Rights Reserved
  • 11. www.mcorpconsulting.com There are only 3 categories of touchpoints: 1.Static Objects (One Way, or “Dumb”) © 2009 MCorp Consulting, All Rights Reserved
  • 12. www.mcorpconsulting.com There are only 3 categories of touchpoints: 2.Human 2 Human (Bi Directional) (Bi-Directional) © 2009 MCorp Consulting, All Rights Reserved
  • 13. www.mcorpconsulting.com There are only 3 categories of touchpoints: 3.Interactive (Multi-Directional) © 2009 MCorp Consulting, All Rights Reserved
  • 14. www.mcorpconsulting.com Interactive, static and human touchpoints can be effective or ineffective ineffective.  These touchpoints drive customers closer – or push them away – as they engage through your Customer Relationship Lifecycle. (And they need to work for you, too.) © 2009 MCorp Consulting, All Rights Reserved
  • 15. www.mcorpconsulting.com There is a Customer Relationship Lifecycle unique to your business business. Pre-Purchase Touchpoints Drive Acquisition through Awareness, Awareness Knowledge and Consideration Consideration Awareness Knowledge Selection Satisfaction Loyalty Advocacy © 2009 MCorp Consulting, All Rights Reserved
  • 16. www.mcorpconsulting.com There is a Customer Relationship Lifecycle unique to your business business. Pre-Purchase Touchpoints Drive Acquisition through Awareness, Awareness Knowledge and Corp. Website Consideration 3rd Party Web W.O.M. Consideration Awareness Knowledge Selection Satisfaction Loyalty Advocacy © 2009 MCorp Consulting, All Rights Reserved
  • 17. www.mcorpconsulting.com There is a Customer Relationship Lifecycle unique to your business business. Purchase Touchpoints Drive Intention, Selection and Purchase Consideration Awareness Knowledge Selection Satisfaction Loyalty Advocacy © 2009 MCorp Consulting, All Rights Reserved
  • 18. www.mcorpconsulting.com There is a Customer Relationship Lifecycle unique to your business business. Purchase Touchpoints Drive Intention, Selection Contract and Purchase Retail Environment Product Design Consideration Awareness Knowledge Selection Satisfaction Loyalty Advocacy © 2009 MCorp Consulting, All Rights Reserved
  • 19. www.mcorpconsulting.com There is a Customer Relationship Lifecycle unique to your business business. Post-Purchase Touchpoints Drive Retention through Satisfaction, Loyalty and Ad d Advocacy Consideration Awareness Knowledge Selection Satisfaction Loyalty Advocacy © 2009 MCorp Consulting, All Rights Reserved
  • 20. www.mcorpconsulting.com There is a Customer Relationship Lifecycle unique to your business business. Post-Purchase Touchpoints Drive Retention through Satisfaction, Loyalty and Ad d Advocacy Help Desk Product Performance Service Staff Consideration Awareness Knowledge Selection Satisfaction Loyalty Advocacy © 2009 MCorp Consulting, All Rights Reserved
  • 21. www.mcorpconsulting.com Customers weigh each touchpoint, based on the value they believe that they get from it it. value © 2009 MCorp Consulting, All Rights Reserved
  • 22. www.mcorpconsulting.com Your touchpoints drive customer experience Static Human Interactive © 2009 MCorp Consulting, All Rights Reserved
  • 23. www.mcorpconsulting.com Each touchpoint is an opportunity to shape the customer experience experience.  Do your touchpoints consistently meet customer needs – and positively differentiate your brand?  Do they influence desired behavior?  And drive desired business results? © 2009 MCorp Consulting, All Rights Reserved
  • 24. www.mcorpconsulting.com Each touchpoint is an opportunity to shape the customer experience experience.  Maybe your touchpoints are just “OK” and your customers could have a similar experience elsewhere.  Maybe you’re not sure which touchpoints work, which work don’t and why.  Maybe you have too many many, or not enough. © 2009 MCorp Consulting, All Rights Reserved
  • 25. www.mcorpconsulting.com Each touchpoint is an opportunity to shape the customer experience experience.  Maybe your touchpoints are driving customers away. After all, it only takes one really bad experience.  Or you might be investing too much, in touchpoints p customers don’t value.  Maybe the most valuable touchpoints are those y you don’t have. © 2009 MCorp Consulting, All Rights Reserved
  • 26. www.mcorpconsulting.com So what is your customer experience? There s There’s really only one way to find out:  Talk to your customers: they’ll tell you.  Understand their journey through your Customer Relationship Lifecycle.  Measure it. Quantify it. And improve it. © 2009 MCorp Consulting, All Rights Reserved
  • 27. www.mcorpconsulting.com A few words about MCorp Consulting: The inventors of Touchpoint Mapping ® and pioneers in the art and science of p customer experience improvement. Issues we address: Services we offer: + Brand Development + Research + Customer Experience + Strategic Planning + Marketing Effectiveness + Experience Design + Loyalty and Retention + Workshops + Performance Measurement + Audits © 2009 MCorp Consulting, All Rights Reserved
  • 28. www.mcorpconsulting.com We map the touchpoints between you and your customers, and make them better customers better. Your Your Customers Company © 2009 MCorp Consulting, All Rights Reserved
  • 29. www.mcorpconsulting.com After all, how do you improve something you cannot (or do not) measure?  Simple. You can’t.  This is where MCorp Consulting and our Customer Experience Mapping suite comes in.  A proven way for organizations to measure, understand and improve customer experience experience. © 2009 MCorp Consulting, All Rights Reserved
  • 30. www.mcorpconsulting.com We’ve invented a series of proprietary analytical tools to do this this.  A analytical, research based approach; Touchpoint Mapping®  Accurate, powerful, quantifiable, and actionable; Customer Experience E i  We help understand MappingSM your customers, customers Brand MappingSM and improve their Loyalty Mapping ® experiences. p 2.) Touchpoint Mapping, Loyalty and Brand Mapping are registered trademarks of MCorp Consulting © 2009 MCorp Consulting, All Rights Reserved
  • 31. www.mcorpconsulting.com Over time we’ve tested, proven and improved our processes working with major brands brands. © 2009 MCorp Consulting, All Rights Reserved
  • 32. www.mcorpconsulting.com We’ve also help dozens of mid-market, fast growth and other industry-leading companies industry leading companies.  Doing big jobs for big companies, we’ve learned what works, and why.  Our systematized approach delivers big results more cost effectively than others.  Proven in multiple environments from environments, regional banks to a $5B division of a Six Sigma-driven multinational Sigma driven multinational. © 2009 MCorp Consulting, All Rights Reserved
  • 33. www.mcorpconsulting.com In most industries, few organizations are prepared to deliver, much less deliver compete on, a consistently branded customer experience experience. What if yours could be one of them? y MCorp Consulting can help. © 2009 MCorp Consulting, All Rights Reserved
  • 34. www.mcorpconsulting.com Want more? Michael Hi h Managing Director Mi h l Hinshaw, M i Di mhinshaw@mcorpconsulting.com 1-415-526-2651 MCorp Consulting 1-866-526-2655 www.mcorpconsulting.com Follow me twitter.com/MichaelHinshaw Visit us online at mcorpconsulting.com © 2009 MCorp Consulting, All Rights Reserved