How to Improve Customer Retention by Building Emotionally Engaging Customer Experiences Colin Shaw, Founder, Beyond Philosophy Gary McNeil, Vice President of Marketing, Parature

The Collapse of Demand Although there may be signs of a recovery… … customers are buying less – demand is recovering slowly

The Customer Has Never Been More Important! In light of sales teams selling less - organizations are focused on: Customer retention Customer upsell and cross sell opportunities Lifetime value of a customer Overall revenue from the customer base

In light of sales teams selling less - organizations are focused on:

Customer retention

Customer upsell and cross sell opportunities

Lifetime value of a customer

Overall revenue from the customer base

The Shifting Focus: From Hunters to Farmers Falling Disproportionally on the Customer Support Function The focus has shifted to further monetizing the customer base… … placing new found responsibilities on the support function

The Changing Preferences of Your Customer If You Build it They Will Come The challenge isn’t driving customers to leverage self-service… … it’s keeping them there

The Implications of Getting it Wrong Costing you money now…and later

Service Has Become A Major Differentiator Improving the customer experience Multi-channel support Providing support in the manner by which the customer wants it Reducing customer effort Delivering on the promise of first contact resolution The result is reduced frustration Increasing customer loyalty By reducing customer effort you increase customer loyalty Increased loyalty is a game changer

Improving the customer experience

Multi-channel support

Providing support in the manner by which the customer wants it

Reducing customer effort

Delivering on the promise of first contact resolution

The result is reduced frustration

Increasing customer loyalty

By reducing customer effort you increase customer loyalty

Increased loyalty is a game changer

Parature Parature is a leading provider of on-demand software (SaaS) for customer service and support Parature enables organizations to: Reduce the cost of supporting their customers Have a 360 view of customer issues Retain their customers Improve customer loyalty Generate more revenue from their base Deliver “great” customer service

Parature is a leading provider of on-demand software (SaaS) for customer service and support

Parature enables organizations to:

Reduce the cost of supporting their customers

Have a 360 view of customer issues

Retain their customers

Improve customer loyalty

Generate more revenue from their base

Deliver “great” customer service

One stop shopping One integrated software suite – on-demand Parature Portal Parature Ticket Parature Knowledgebase Parature Reporting Parature Chat Parature Forum Host of other modules Parature - One Integrated Suite

One stop shopping

One integrated software suite – on-demand

Parature Portal

Parature Ticket

Parature Knowledgebase

Parature Reporting

Parature Chat

Parature Forum

Host of other modules

800 Customers Across Industries & Market Segments Healthcare Associations Education Gaming and Digital Media Business Services Technology

How to Improve Customer Retention by Building Emotionally Engaging Customer Experiences Colin Shaw Founder, Beyond Philosophy

Why Customer leave… 1% die 3% moves away 5% friend influenced them to go elsewhere 9% where lured away by competition 14% as they are disappointed with the product 68% because of the company’s indifferent attitude to them Source: The American Society of Quality Control

1% die

3% moves away

5% friend influenced them to go elsewhere

9% where lured away by competition

14% as they are disappointed with the product

68% because of the company’s indifferent attitude to them

Customer Experience definition A Customer Experience is an interaction between an organisation and a Customer. It is a blend of an organisations physical performance, the senses stimulated and emotions evoked, each intuitively measured against Customer Expectations across all moments of contact.

Key Strategic questions… What is the Customer Experience you are trying to deliver? What are the emotions you are trying to evoke? Is your Customer Experience deliberate? What do your Customers really want? What provides you with the most value?

What is the Customer Experience you are trying to deliver?

What are the emotions you are trying to evoke?

Is your Customer Experience deliberate?

What do your Customers really want?

What provides you with the most value?

Steps to build an emotional engaging experience Decide the experience you are trying to delivery Define what drives value Design and deliver an emotionally engaging experience

Decide the experience you are trying to delivery

Define what drives value

Design and deliver an emotionally engaging experience

Significant Confident Connected

Independent academic endorsement…. Professor Christopher Voss - London Business School (LBS) has guided us with his thoughts, input and validated our approach and methodology. University of Wales, Chair of Experimental Consumer Psychology & visiting Harvard Scholar Specializes in emotional interpretation of complex information (including brands, faces, advertisements), visual attention, and visual memory Professor Jane Raymond Dr. Jeremy Miles - leading consumer Psychologist and quantitative statistician , Lecturer in Health Sciences at the University of York an now of the Rand Corporation

Professor Christopher Voss - London Business School (LBS) has guided us with his thoughts, input and validated our approach and methodology.

University of Wales, Chair of Experimental Consumer Psychology & visiting Harvard Scholar

Specializes in emotional interpretation of complex information (including brands, faces, advertisements), visual attention, and visual memory

Professor Jane Raymond

Dr. Jeremy Miles - leading consumer Psychologist and quantitative statistician , Lecturer in Health Sciences at the University of York an now of the Rand Corporation

What is the subconscious message?

The count…“There are 31 of them …”

What drives and destroys value… Emotional Signature®

When a company interacts with a customer the following happens

Emotional Signature®

Emotional Signature® Promoter v Detractors

Trust Preference Satisfaction Recommend 73% 74% 56% 81% Attitude of check-in staff Ease of access to information Helpfulness of staff at airport Appearance of check-in desk Airport environment and ambience Ease of finding check-in desk Journey to airport and parking Check-in experience Value Indicators Statistically Significant (p<0.05) These % indicate how much of that value is explained by the factors in the SEM. This SEM explains 81% of Customer Satisfaction. Brand Values 70% 1 2 3 4 5 6 7 Stimulus Response Effect

These % indicate how much of that value is explained by the factors in the SEM.

This SEM explains 81% of Customer Satisfaction.

What is the subconscious message?

“ How well did we anticipate your needs?”

Anticipating my needs?

?

What day of the month do you want your direct debit taken out of your account? What is the date each month you would like your Direct debit taken out of your account recognising February has 28 days.

Intention – Left brain Behaviour – Right brain Traditional research Subconscious research

Designing an emotionally engaging Customer Experience

Designing an emotionally engaging experience Rational Six Sigma Lean Process Emotional Moment Mapping® Experience

Rational

Six Sigma

Lean

Process

Emotional

Moment Mapping®

Experience

Above Expectations Below Expectations The card Wait Met Expectations Voice Menu Discussion with agent Wait for Pick up Discussion with Driver The receipt Travel to Office Contacting the office No Mobile Number Only needed to wait 30 mins What is my policy number Phoine number doesn’t work Neutral The emotional experience Insurance claim experience 4 mins in queue Pleasant guy Mc Donalds wrapper We can only take you home

Moment Mapping – Brown Paper Fair

We Generated A Number Thoughts About Each Step

What should we stop, what are new ideas on how to improve

Summary What is the Customer Experience you are trying to deliver? What emotions are you trying to evoke? Is your Customer Experience deliberate? What do your Customer really want? What should you do first? What has most value for you?

What is the Customer Experience you are trying to deliver?

What emotions are you trying to evoke?

Is your Customer Experience deliberate?

What do your Customer really want?

What should you do first?

What has most value for you?

Further questions…. Web: BeyondPhilosophy.com ColinShaw_CX Phone: 0207 917 1717

Follow Parature on http://blog.parature.com/ http://facebook.parature.com http://twitter.com/parature.com http://www.parature.com/rss http://www.youtube.com/paratureinc Questions?

http://blog.parature.com/

http://facebook.parature.com

http://twitter.com/parature.com

http://www.parature.com/rss

http://www.youtube.com/paratureinc