7 Steps to Customer Experience Excellence with Analytics
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7 Steps to Customer Experience Excellence with Analytics

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As competition and cost pressures intensify, organisations of all sizes and across all industries recognise the need to improve the experiences their customers have with them at all points throughout ...

As competition and cost pressures intensify, organisations of all sizes and across all industries recognise the need to improve the experiences their customers have with them at all points throughout the customer journey. Businesses understand that they need to maximise the opportunities that come from the interactions they have with their customers, by helping predict a customer’s needs and wants, offer personalised recommendations, reward loyalty and deal with issues in a proactive and timely manner – and analytics plays an important role in achieving these aims. The rewards for getting it right are substantial: improving the customer experience can help drive sales, retain high value customers, increase business from existing customers and improve responsiveness. But that’s not to say it’s an easy task.
This slide deck is an introduction to a full treatment we'll be giving at a free webinar on Nov 6, 2013. See http://www.mwdadvisors.com/ec/customerexperienceexcellence for more details!

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7 Steps to Customer Experience Excellence with Analytics 7 Steps to Customer Experience Excellence with Analytics Presentation Transcript

  • Intro : 7 steps to customer experience excellence with analytics Helena Schwenk Principal Analyst mwd advisors helping you create business improvement from IT investment
  • What we’ll cover • The customer experience challenge • How analytics can make an impact • The seven steps to customer experience excellence using analytics • Where do you go from here? Want the full presentation? See the last slide for how you can get all the content on a free webinar © MWD Advisors 2013 www.mwdadvisors.com 2
  • The customer experience is today’s competitive battleground “The customer experience is bigger than customer service ... It is the full end to end experience . It starts when you first hear about Amazon from a friend and ends when you get the package in the mail & open it”. Jeff Bezos – CEO Amazon © MWD Advisors 2013 www.mwdadvisors.com 3
  • Everyone is facing large-scale business environment change Globalisation Customers, partners, suppliers – and competition “Connectedness” is driving sophisticated value chains Transparency Industry regulations, consumer pressure and competition driving openness Smart, connected markets Ecosystem participants – particularly customers – see the “online world” as the natural place to look for information, services © MWD Advisors 2013 www.mwdadvisors.com 4
  • Great customer experiences require a consistent and integrated multi channel customer journey Research © MWD Advisors 2013 Consider Purchase Use/ Evaluate www.mwdadvisors.com Maintain/ Advocate 5
  • Not all customers are equal in terms of needs as well as value to the business Delivering great customer experiences Driving incremental value at right cost for the business © MWD Advisors 2013 www.mwdadvisors.com 6
  • Analytics plays two distinct roles in supporting end-to-end customer experiences Shaping and informing interactions © MWD Advisors 2013 Measuring and optimising performance www.mwdadvisors.com 7
  • Measurement is key to help you learn, fine tune and improve Baseline Develop KPIs Distil into business metrics Benchmark your current state Monitor performance Identify hotspots Root cause analysis Measure © MWD Advisors 2013 Optimise www.mwdadvisors.com Experiment Test Refine approach 8
  • Measuring can help bring organisational alignment Sales Customer satisfaction Churn rates Advocacy Repeat purchases Loyalty Referrals Market share Revenue growth Profitability © MWD Advisors 2013 www.mwdadvisors.com 9
  • Analytics: injecting intelligence into your customer journeys General enquiry Activation & education FAQ Retention call Social Review / comments Onboarding © MWD Advisors 2013 www.mwdadvisors.com 10
  • Identify opportunities to serve the customer better whilst adding value to the business Identify customers at risk of churn Offer appropriate customer service Tailored offering & bundle General enquiry Increase share of Activation & wallet by cross education sell Retention call Social review / comments Onboarding © MWD Advisors 2013 FAQ Perform analysis of service issues Understand customer feedback www.mwdadvisors.com 11
  • Step 3 provides input 7 steps to customer experience excellence with analytics: an overview into Step 7 6 5 4 3 2 1 7 Measure and optimise Operationalise your analytic insights Develop your customer analytics competency Pinpoint where analytics can drive valuable customer interactions Prioritise focus areas & build your business case Identify problems and opportunities Map your customers’ journey © MWD Advisors 2013 www.mwdadvisors.com 12
  • @hmschwenk helena@mwdadvisors.com Thank you Learn more about the 7 steps to customer experience excellence with analytics! Free report: available to download now Free webinar: 6th November @ 4pm GMT / 11am EDT http://www.mwdadvisors.com/ec/customerexperienceexcellence