Total Customer Experience Management Overview #TCE #CEM -- The Why, What and How

1,827 views

Published on

This is a presentation we put together for our TCELab Sales Affiliates and Partners -- explains an overview of Total Customer Experience Management, Why your customer's CEO's will love it, your opportunity, and how TCELab's products and services fit into the CEM / Big Data / Customer Loyalty Space

Published in: Business, Technology

Total Customer Experience Management Overview #TCE #CEM -- The Why, What and How

  1. 1. TCELab Sales Affiliate Overview Summer 2013 The Why, What and How Total Customer Experience Management #TCE #CEM
  2. 2. What is Customer Experience Management? The process of understanding and managing your customers’ interactions with and perceptions of your brand / company Copyright 2012 TCELab
  3. 3. http://blogs.forrester.com/nigel_fenwick/13-06-27-why_customer_experience_will_become_the_1_cio_priority CIOs ranked customer relationship management (CRM) as their No. 8 technology priority for 2012, according to a global survey of CIOs by Gartner, Inc.’s Executive Programs. CRM moved up from the No. 18-ranked technology in 2011. Additionally, Gartner’s 2012 CEO Survey found that CEOs cited CRM as their most important area of investment to improve their business over the next five years. Why do CEO’s care? Becoming #1 priority …
  4. 4. Why are we (TCELab and YOU) excited? CEM Industry Big Data Industry Business Analytics Software Industry http://wikibon.org/wiki/v/Big_Data_Vendor_Revenue_and_Market_Forecast_2012-2017 http://www.marketsandmarkets.com/PressReleases/customer-experience-management.asp http://www.idc.com/getdoc.jsp?containerId=prUS24194613 $7.2B to $47.8B 2011-2017 31% CAGR $2.68B to $6.61B 2012-2017 19.8% CAGR $34.9B in 2012 8.7% YOY growth Asia/Pacific 13.4% YOY growth
  5. 5. Our accessible Big Data opportunity $0.49B to $7B
  6. 6. CEM Program Components Strategy Vision, Value, Culture Governance Executive Ownership, Decision-Making, Accountability, Compensation Business Process Integration Automated, Closed-looped, Customer Relationship Management and Business Intelligence Integration, Lifecycle Management, Communication Method Data collection, Contact Management, Sampling Methodology, Survey Questions Reporting Analysis, Benchmarking, Micro and Macro Improvements, Dissemination Practices Research Business Impact, Financial, Operational and Constituency Linkages, Use of Customer Information
  7. 7. Disparate Sources of Business Data 1. Call handling time 2. Number of calls until resolution 3. Response time 4. Sources: phone, email, social 1. Revenue 2. Number of products purchased 3. Customer tenure 4. Service contract renewal 5. Number of sales transactions 6. Frequency of purchases 1. Customer Loyalty 2. Relationship Satisfaction 3. Transaction Sat. 4. Sentiment 1. Employee Loyalty 2. Satisfaction with business areas Operational Partner Feedback 1. Partner Loyalty 2. Satisfaction with partnering relationship Customer Feedback Employee Feedback Financial 1. Frequency of use 2. Duration of use 3. Frequented areas 4. Crash & bug reports 5. Region 6. Customer type 7. Customer profile; Demographics like gender, age 8. SaaS tiers Product Quality, Software Use, Adoption
  8. 8. Integrate Data to Answer Different Questions • Linkage analysis answers the questions: – What is the $ value of improving customer satisfaction/loyalty? – Which operational metrics have the biggest impact on customer satisfaction/loyalty? – Which employee/partner factors have the biggest impact on customer satisfaction/loyalty? Operational Metrics Transactional Satisfaction Relationship Satisfaction/ Loyalty Financial Business Metrics Constituency Satisfaction/ Loyalty
  9. 9. Integrating your Business Data Customer Feedback Data Sources Relationship Survey (satisfaction/loyalty to company) Transactional Survey (satisfaction with specific transaction/interaction) Social Media/ Communities (sentiment / shares / likes) BusinessDataSources Financial (revenue, number of sales) • Link data at customer level • Quality of the relationship (sat, loyalty) impacts financial metrics N/A • Link data at customer level • Quality of relationship (sentiment / likes / shares) impacts financial metrics Operational (call handling, response time) N/A • Link data at transaction level • Operational metrics impact quality of the transaction • Link data at transaction level • Operational metrics impact sentiment / likes/ shares Constituency (employee / partner feedback) • Link data at constituency level • Constituency satisfaction impacts customer satisfaction with overall relationship • Link data at constituency level • Constituency satisfaction impacts customer satisfaction with interaction • Link data at constituency level • Constituency satisfaction impacts customer sentiment / likes / shares
  10. 10. Three Ways to Grow a Business Business Programs Marketing Sales Service 1. Retention Behaviors Customer Renews 2. Advocacy Behaviors Customer Acquisition 3. Purchasing Behaviors Customer Buys More Customer Lifetime Value Firm Value TCELab measures all types of customer loyalty 1 RAP refers to Retention, Advocacy and Purchasing Loyalty Indices. NPS refers to Net Promoter® Score.
  11. 11. What does TCELab do? Where and what is your existing data? How is it organized? Velocity, Variety, Volume. What do you currently use for Voice of Customer? Are you measuring customer loyalty? Do we need to augment or shift? Consider RAPID Loyalty Dimensions? It’s all about cause and effect. And math. RAPID Measurement and Linkage Analysis = our “Magic” Yes, please. Sustaining requires C-Suite and corporate culture to embrace and train customer centric leadership What things REALLY have an impact on future revenue growth? Optimized? ROI … spend more money on the things that matter most to customers. We combine Big Data and VOC metrics and apply predictive analytics to identify correlates of customer loyalty and sustained revenue growth=Optimize your ROI.
  12. 12. Financials Voice of Employee Voice of Partner Voice of Customer Product Quality Operational Metrics TCELab can help no matter where the company is in their CEM journey 1 1 1 Sophistication of Business Intelligence CompetitiveAdvantage - Establish VOC practices - Establish satisfaction / loyalty measurement; typically either NPS or RAPID - Create “Single Source of Truth” data set - Establish Big Data technical architecture - Customer KPI’s - Recognize trends - Root cause and driver analysis - Proactive vs. Reactive (Trend Analysis) - Customer Impact Analysis - Risk Awareness - New revenue growth - Churn reduction - Increased ARPU - Closed loop client feedback - Social and verbatim sentiment analysis - Business Intelligence Dashboards - Customer centric customer and employee goals
  13. 13. How do we do it? CLAAP • Integrate existing big data • Code and execute transactional and customer relationship surveys (on browser / tablet / mobile) • Manage email and reminder campaigns to harvest responses • Create text and social sentiment analysis • Mathematical correlations, predictive analytics, linkage analysis • Automated reporting engine Customer Loyalty as a Platform (CLAAP)
  14. 14. What do we have to offer clients? Products / Services: 1. CRD Voice of Customer Survey (ERD Employee & PRD Partner also available) 2. TCEAudit and TCELinkage 3. Co-sponsored industry market leader loyalty research whitepapers
  15. 15. What can clients expect for timing? Week1-2 Week3-4 Week5-6 Week7-8 Week9-10 Week11-12 Goals BigData Finalize Canvass Analysis Report Align Review Questions CollectVOCdata Insights Communicate The CRD Survey process can take from 6 to 12 weeks. “If you’ve got board or team strategy meetings happening in the next few months, the time to start is now.”
  16. 16. DRIVER ANALYSIS CASE STUDY SaaS iPad and Cloud Accounting Software CRD: Customer Relationship Diagnostic Kashoo posted 75% YOY growth using results from last summer’s CRD survey.
  17. 17. Case study • SaaS Software Company
  18. 18. “CRD Customer Survey” Driver MatrixImpact LowHigh Key Drivers INVEST in these areas. FIX and IMPROVE these product attributes. Improvement in these areas are predicted to attract new customers (advocacy), increase purchasing behavior (purchasing) or retain customers (retention) Hidden Drivers LEVERAGE as strengths in order to keep current customers loyal ADVERTISE as strengths in marketing collateral and sales presentations in order to attract new customers (advocacy), increase purchasing behavior (purchasing) or retain customers (retention) Weak Drivers DISREGARD as lowest priority for investment. These areas have relatively low impact on improving customer loyalty Visible Drivers CONSIDER as strengths in marketing collateral and sales presentations in order to attract new customers EVALUATE as areas of potential over-investment Low High Performance Driver Matrix helps us prioritize investments 1. Key Drivers – Fix and improve these product attributes. 2. Hidden Drivers – Focus on these features in marketing to grow customer base. 3. Visible Drivers – Consider features in marketing to grow customer base. 4. Weak Drivers – Disregard as priority for investment.
  19. 19. Driver Chart: Predicting Retention Loyalty  Predicting Retention Loyalty 0.00 0.05 0.10 0.15 0.20 0.25 0.30 6.00 6.50 7.00 7.50 8.00 ImpactonRetentionLoyalty (correlationbetweenbusinessattributes andRetentionLoyaltyIndex) Performance on Business Attribute (Customer Rating) To improve retention loyalty, you may consider focusing on following areas: 1. Reports 2. Future Product / Company Direction 3. Banking / Bank Reconciliation Can also correlate dimensions of company improvement with “Paid vs. Trial,” “Active, non-active, dormant” & “iPad, iPhone, Android, Web” users
  20. 20. As a TCELab Sales Affiliate, you’ll have a lot of content at your fingertips to help you engage new leads as well as to encourage existing accounts: • White papers • “TCE” book on Amazon • Presentations • Industry research • Webinars • Videos • Blogs • Dr. Hayes guest blog posts on IBM, Oracle, Forbes, etc… • Access to our Online “intranet”: • Product pricing sheets • Template Contracts • Sample surveys • Sample reports
  21. 21. THANKS! Welcome to Awesomeville. info@tcelab.com www.tcelab.com 1.888.243.4756 40 Warren Street, 3rd Floor Boston, MA 02129 USA

×