Achieving Competitive Advantage
Through the Customer Experience
Or… What can the Wizard of Oz teach us about
building lasting bonds with customers
3©2014 TeleTech Holdings, Inc. Confidential and Proprietary
What do These Companies
4©2014 TeleTech Holdings, Inc. Confidential and Proprietary
Have to do With These Companies?
5©2014 TeleTech Holdings, Inc. Confidential and Proprietary
They Were Both Part of a Study Measuring the
Economic Impact o...
6©2014 TeleTech Holdings, Inc. Confidential and Proprietary
Survey Question
What do you think was the % difference in stoc...
7©2014 TeleTech Holdings, Inc. Confidential and Proprietary
Source: Forrester and Watermark
Customer Engagement Leaders Ou...
8©2014 TeleTech Holdings, Inc. Confidential and Proprietary
Survey Question
How would you describe the quality of
your cus...
9©2014 TeleTech Holdings, Inc. Confidential and Proprietary
Perception vs. Reality
100%
80%
60%
40%
20%
0%
PercentofCompan...
10©2014 TeleTech Holdings, Inc. Confidential and Proprietary
How did
this happen?
11©2014 TeleTech Holdings, Inc. Confidential and Proprietary
The Twister of Technology Changed Everything
12©2014 TeleTech Holdings, Inc. Confidential and Proprietary
The Days of Competing on Product and Price are Over
Different...
13©2014 TeleTech Holdings, Inc. Confidential and Proprietary
Because We Aren’t in Kansas Anymore
How do You Win?
15©2014 TeleTech Holdings, Inc. Confidential and Proprietary
It Takes a Brain
Using customer
data and insight
16©2014 TeleTech Holdings, Inc. Confidential and Proprietary
A Heart
Operationalizing
empathy – with
systems and
processes
17©2014 TeleTech Holdings, Inc. Confidential and Proprietary
Courage
To innovate and
challenge the
status quo
18©2014 TeleTech Holdings, Inc. Confidential and Proprietary
Use data: 4 Levels of Maturity
Maximize customer
profitabilit...
19©2014 TeleTech Holdings, Inc. Confidential and Proprietary
Have Empathy:
Understand What They Want and Operationalize It...
20©2014 TeleTech Holdings, Inc. Confidential and Proprietary
Find courage: Try new things
Question the status quo.
Break d...
21©2014 TeleTech Holdings, Inc. Confidential and Proprietary
Bring brains, heart
and courage to
your customer
experience
j...
22©2014 TeleTech Holdings, Inc. Confidential and Proprietary
@MarkGrindeland
CMO
TeleTech
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Achieving competitive advantage through the customer experience3 24-14

  1. 1. Achieving Competitive Advantage Through the Customer Experience
  2. 2. Or… What can the Wizard of Oz teach us about building lasting bonds with customers
  3. 3. 3©2014 TeleTech Holdings, Inc. Confidential and Proprietary What do These Companies
  4. 4. 4©2014 TeleTech Holdings, Inc. Confidential and Proprietary Have to do With These Companies?
  5. 5. 5©2014 TeleTech Holdings, Inc. Confidential and Proprietary They Were Both Part of a Study Measuring the Economic Impact of CX
  6. 6. 6©2014 TeleTech Holdings, Inc. Confidential and Proprietary Survey Question What do you think was the % difference in stock performance between the CX Leaders and Laggards? 10%? 26%? 77%? 52%?
  7. 7. 7©2014 TeleTech Holdings, Inc. Confidential and Proprietary Source: Forrester and Watermark Customer Engagement Leaders Outperform the Market Leaders vs. Laggards vs. S&P 500 (2007-2012) 50% 40% 30% 20% 10% 0% -10% -20% -30% -40% CumulativeTotalReturn Customer Experience Laggards S&P 500 Index Customer Experience Leaders Leaders Outperform Laggards by 77% -34% 14.5% +43%
  8. 8. 8©2014 TeleTech Holdings, Inc. Confidential and Proprietary Survey Question How would you describe the quality of your customer experience ?
  9. 9. 9©2014 TeleTech Holdings, Inc. Confidential and Proprietary Perception vs. Reality 100% 80% 60% 40% 20% 0% PercentofCompanies 80% of companies believe they provide a superior experience Believers (Non-Achievers) Achievers But only 8% of Customers agree (Source: Bain & Satmetrix)
  10. 10. 10©2014 TeleTech Holdings, Inc. Confidential and Proprietary How did this happen?
  11. 11. 11©2014 TeleTech Holdings, Inc. Confidential and Proprietary The Twister of Technology Changed Everything
  12. 12. 12©2014 TeleTech Holdings, Inc. Confidential and Proprietary The Days of Competing on Product and Price are Over Differentiate on price How low can you go? Differentiate on product Today’s innovation is tomorrow’s knockoff The new differentiator Differentiate on customer experience
  13. 13. 13©2014 TeleTech Holdings, Inc. Confidential and Proprietary Because We Aren’t in Kansas Anymore
  14. 14. How do You Win?
  15. 15. 15©2014 TeleTech Holdings, Inc. Confidential and Proprietary It Takes a Brain Using customer data and insight
  16. 16. 16©2014 TeleTech Holdings, Inc. Confidential and Proprietary A Heart Operationalizing empathy – with systems and processes
  17. 17. 17©2014 TeleTech Holdings, Inc. Confidential and Proprietary Courage To innovate and challenge the status quo
  18. 18. 18©2014 TeleTech Holdings, Inc. Confidential and Proprietary Use data: 4 Levels of Maturity Maximize customer profitability by leveraging Big Data with company data to customize products, pricing and channels for each customer Combining data from across the company to develop predictive models that will feed relevant,proactive outreach that builds value Reaching out to customers first based on behavior or value triggers, typically developed in one department (care, marketing, retention) Reacting to customers based on their behavior or explicit feedback Reactive Proactive Predictive Psychic
  19. 19. 19©2014 TeleTech Holdings, Inc. Confidential and Proprietary Have Empathy: Understand What They Want and Operationalize It Listen to VOC and innovate. Put people and processes in place to make CX a part of the company DNA – culture – the way we do things around here. Think like your customers - have empathy. Just make it simple. It costs at least twice as much to deliver a poor customer experience as a good one. Build the customer focus in from the beginning.
  20. 20. 20©2014 TeleTech Holdings, Inc. Confidential and Proprietary Find courage: Try new things Question the status quo. Break down the product silos. Empower CX leadership across divisions. Compensate based on NPS improvement. Bring the customer to every meeting.
  21. 21. 21©2014 TeleTech Holdings, Inc. Confidential and Proprietary Bring brains, heart and courage to your customer experience journey and you will find your way to success Follow the Yellow Brick Road
  22. 22. 22©2014 TeleTech Holdings, Inc. Confidential and Proprietary @MarkGrindeland CMO TeleTech
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