NASSCOM ILF 2014: The Path to Customer Experience Maturity in The Age of the Customer - Craig Menzies, Forrester
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NASSCOM ILF 2014: The Path to Customer Experience Maturity in The Age of the Customer - Craig Menzies, Forrester

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NASSCOM ILF 2014: The Path to Customer Experience Maturity in The Age of the Customer - Craig Menzies, Forrester NASSCOM ILF 2014: The Path to Customer Experience Maturity in The Age of the Customer - Craig Menzies, Forrester Presentation Transcript

  • The Path to Customer Experience Maturity in The Age of the Customer Craig Menzies, Principal Analyst Serving Customer Experience Professionals Twitter: @craigmenzies, @forrester, #NASSCOM_ILF My CX blog: http://blogs.forrester.com/craig_menzies 12th February, 2014
  • Why should we care about customer experience? © 2012 Forrester Research, Inc. Reproduction Prohibited
  • © 2012 Forrester Research, Inc. Reproduction Prohibited
  • How customers perceive their interactions with your company © 2012 Forrester Research, Inc. Reproduction Prohibited
  • Enjoyable Easy Meets Needs © 2012 Forrester Research, Inc. Reproduction Prohibited
  • Customer experience correlates to loyalty  Willingness to consider for another purchase  Likelihood to recommend to a friend  Likelihood to switch business to a competitor © 2012 Forrester Research, Inc. Reproduction Prohibited
  • The playing field for businesses is changing before your eyes © 2012 Forrester Research, Inc. Reproduction Prohibited
  • Sources of competitive advantage change over time
  • Sources of competitive advantage change over time Sources of Dominance Age of Information Age of Distribution Age of Manufacturing
  • Sources of competitive advantage change over time Sources of Dominance Age of Information Age of Distribution Microsoft, Dell, Google, Capital One Age of Manufacturing Ford, RCA, GE, Boeing, P&G, Sony Wal-Mart, Toyota, UPS, CSX Dominant Companies
  • Sources of competitive advantage change over time Age of the Customer Sources of Dominance Age of Information Age of Distribution Microsoft, Dell, Google, Capital One Age of Manufacturing Ford, RCA, GE, Boeing, P&G, Sony ? Contenders include Southwest Airlines, USAA, Amazon, … Wal-Mart, Toyota, UPS, CSX Dominant Companies
  • The Age of the Customer A 20 year business cycle in which the most successful enterprises will reinvent themselves to systematically understand and serve increasingly powerful customers.
  • My Buying Criteria: •My friend was selling it (proximity) •I could afford it (price) •I hadn’t heard anything bad about it (information) •It was on the cover of a magazine (media) © 2013 Forrester Research, Inc. Reproduction Prohibited
  • Fast forward 25 years! Word of Mouth, Price, Expert opinion, Proximity AND… © 2013 Forrester Research, Inc. Reproduction Prohibited
  • Highly detailed specifications © 2013 Forrester Research, Inc. Reproduction Prohibited
  • Competitive comparisons © 2013 Forrester Research, Inc. Reproduction Prohibited
  • With even more detailed specs © 2013 Forrester Research, Inc. Reproduction Prohibited
  • Reviews from other buyers © 2013 Forrester Research, Inc. Reproduction Prohibited
  • Forums of opinionated owners © 2013 Forrester Research, Inc. Reproduction Prohibited
  • • • • • • • • • • • • • • • © 2013 Forrester Research, Inc. Reproduction Prohibited Detailed specs Model comparisons Trusted reviews Best place to buy Best price to pay Special offers Best insurance deals Owner opinions Maintenance history Accessories Upgrades Social events Where to ride Etc, etc, etc, etc…
  • In short… The Customer has all the power © 2013 Forrester Research, Inc. Reproduction Prohibited
  • © 2013 Forrester Research, Inc. Reproduction Prohibited © 2014 Forrester Research, Inc. Reproduction Prohibited 22
  • © 2013 Forrester Research, Inc. Reproduction Prohibited © 2014 Forrester Research, Inc. Reproduction Prohibited 23
  • © 2013 Forrester Research, Inc. Reproduction Prohibited © 2014 Forrester Research, Inc. Reproduction Prohibited 24
  • © 2013 Forrester Research, Inc. Reproduction Prohibited © 2014 Forrester Research, Inc. Reproduction Prohibited 25
  • So how does one “do” customer experience? © 2013 Forrester Research, Inc. Reproduction Prohibited
  • 20 362 10,000
  • Khumbu Icefall
  • Lhotse Face
  • “clearly unused to even basic mountaineering equipment”
  • Customer Experience
  • 47% Differentiate the company from leaders in their industry 13% Differentiate the company from leaders in ANY industry : 100 customer experience professionals (percentages may not total 100 because of rounding) ce: Q4 2012 Global Customer Experience Peer Research Panel Online Survey
  • Firms are not doing what it takes
  • 47% don’t measure customer experience quality
  • 79% don’t train employees on how to deliver the target customer experience
  • Not differentiating
  • Low customer experience maturity
  • Customer Experience Maturity The extent to which an organization routinely performs the practices
  • Customer Experience Maturity The extent to which an organization routinely performs the practices required to design, implement, and manage customer experience
  • Customer Experience Maturity The extent to which an organization routinely performs the practices required to design, implement, and manage customer experience in a disciplined way.
  • High CX maturity Practices are performed systematically Low CX maturity Practices are missing or performed in an ad hoc way
  • Get on the path to high customer experience maturity. © 2013 Forrester Research, Inc. Reproduction Prohibited
  • Differentiate Optimize Repair Elevate
  • Differentiate Optimize Repair Elevate
  • STOP the avalanche of bad customer experiences
  • Repair Phase Key Activities › › › › Identify bad experiences Prioritize fixes Coordinate implementation Measure results
  • 2008 CXi – Wireless Carriers
  • $1.7 billion
  • OK Very Poor Base: US online consumers who have interacted with each firm Source: North American Technographics Customer Experience Online Survey, Q4 2008 (US), Q4 2009 (US), Q4 2010 (US), Q4 2011 (US), Q4 2012 (US)
  • Base: US online consumers who have interacted with each firm Source: North American Technographics Customer Experience Online Survey, Q4 2008 (US), Q4 2009 (US), Q4 2010 (US), Q4 2011 (US), Q4 2012 (US)
  • Differentiate Optimize Repair Elevate
  • Make good CX behaviour the norm
  • Elevate Phase Key Activities › › › › Define a customer experience strategy Share customer insights with all employees Create a consistent, companywide customer experience measurement framework Start following a human-centered design process
  • Edward Jones CXi Score 2011 – 2013 Good OK Base: US online consumers who have interacted with Edward Jones Source: North American Technographics Customer Experience Online Survey, Q4 2009 (US), Q4 2010 (US), Q4 2011 (US), Q4 2012 (US)
  • Differentiate Optimize Repair Elevate
  • A more sophisticated customer experience toolkit
  • Optimize Phase Key Activities › › › › Model the relationship between CX quality and business results Build strong experience design practices Sharpen employees’ CX related skills through targeted training Evaluate employee performance against rolespecific CX metrics
  • • Let personality shine • Provide options • Help guests feel comfortable in public spaces
  • “Matt is chillin”
  • Systematic customer experience training Full Associate Training Walk-through Immersion Six months before Pre-reno 6 Webinars 11 days before 3 months after reopening 2 – 3 Day Post-Visit
  • Courtyard by Marriott CXi Score ‘10 – ‘13 Good Base: US online consumers who have interacted with Courtyard by Marriott Source: North American Technographics Customer Experience Online Survey, Q4 2009 (US), Q4 2010 (US), Q4 2011 (US), Q4 2012 (US)
  • Courtyard by Marriott CXi Score ‘10 – ‘13 Excellent Good Base: US online consumers who have interacted with Courtyard by Marriott Source: North American Technographics Customer Experience Online Survey, Q4 2009 (US), Q4 2010 (US), Q4 2011 (US), Q4 2012 (US)
  • Differentiate Optimize Repair Elevate
  • Catapult you to the top
  • Differentiate Phase Key Activities › › › Re-frame customer problems Reveal unmet customer needs Re-think the entire CX ecosystem
  • Car loans Mortgages Insurance
  • USAA Lead over next highest brand Banks 85 +7 Credit Card Providers 82 +7 Insurance Providers 83 +9 © 2013 Forrester Research, Inc. Reproduction Prohibited
  • How do you get started on the path to CX maturity?
  • The Experience-Driven Organization Playbook May 2012 “Transform To An Experience-Driven Organization” Assessment: Where Are You On The Path To Customer Experience Maturity? October 11, 2013 | Megan Burns Gather best practices Overview: Transform To An Experience-Driven Organization May 7, 2012 | Harley Manning
  • Assess your maturity
  • Understand your customer’s journey(s)
  • Does your digital channel meet your customer’s needs?
  • Thank you Craig Menzies Principal Analyst, Forrester Research (Sydney, Australia) cmenzies@forrester.com +61 02 9006 3352, +61 43 555 1412 Twitter: @craigmenzies, @forrester, #NASSCOM_ILF My CX blog: http://blogs.forrester.com/craig_menzies
  • We Need You! Please join our Asia Pacific Customer Experience Peer Research Panel and take the 2014 CX Survey! - Contribute your views and insights to leading edge industry research (confidential/anonymous) - Receive free research reports and read the views of other people working with the same challenges day in day out Get in touch: cmenzies@forrester.com