Transforming YourCustomer Experience:  Learn the 4 Essential     Requirements      PART 1 of 4                  ©2012 Erna...
Ernan Roman                   President                   Ernan Roman Direct Marketing Corp. (ERDM)                   Indu...
Kris Gates                AVP, Customer Experience Marketing                MassMutual                MassMutual’s Retirem...
Eric Greenberg                     EVP Marketing                     Life Line Screening, (LLSA)                     Life ...
Steven Shapiro                   Director, Global Relationship Marketing                   Symantec                   Nort...
Joe Leader                     Vice President, Strategic Business Development                     PossibleNOW             ...
Doug Stein                     President                     HMS National, Inc.                     Doug was a distinguish...
Welington Fonseca                    Head of CRM                    Gilt Groupe                    Welington oversees all ...
Workshop Agenda Saturday, October 13th, (10:00am – 4:30pm)    Step 1, How to Use Voice of Customer Research to Drive your...
Workshop Agenda Sunday, October 14th, (9:00am – 1:50pm)    Step 3, How to Use the 5 Principles of Multichannel    Marketi...
Overview
Amazing Opportunities for      Engagement                            Business Insider                                   5/...
Consumers are Multi-dimensional;Multi-channel and Multi-purpose                                   Overview
New York Times App                     New York Times 10/3/12                                 Overview
Pictures live fromthe event             New York Times 10/3/12                         Overview
Samuel Adams Crowd-Craft Project:           Customers created “B’Austin Ale” Invited Sams Twitter, Facebook, and Google+ ...
Amazing Technology                     Overview
New Google App Gives You Local Information               — Before You Ask for ItApp provides people with information about...
Time to Stop Doing It Wrong                              WSJ 3/19/12                               Overview
Time to Get it Right      Treat customers the way we want to be treated……and generate double-digit increases in response a...
Goal for this WorkshopHelp you achieve the success of innovators such as:                                                 ...
Achieve Consistent Double-Digit ResultsMicrosoft’s success:        Opt-in rates up to 95%        Open rates greater than 5...
Achieve Consistent Double-Digit Results         “When HP uses the Voice of Customer     methodology, our marketing campaig...
Achieve Consistent Double-Digit Results    HMS National, Inc.       Life Line Screening25% 50%* increase in        50% 65%...
Powerful Alternative: Customer Experience Marketing Definition*:    1. Discipline of improving the customer experience acr...
Powerful Alternative: Customer Experience Marketing Definition*:    4. The experiences must be driven by individual prefer...
The VoC-Driven CEM ProcessCEM is a process                            Companies who                    Goal is to achieve ...
4-Step Voice of Customer-Driven                    CEM Process for Achieving                    Consistent Double-Digit Re...
Step 1 How to Use Voice of    Customer Research to Drive    Your Engagement Strategies   Definition: Specialized depth  ...
Step 2 How to Create Powerful    Opt-In Databases to Drive    High Impact Personalization    Strategies   Definition: Vo...
Important!  Opt-in is notabout passively  agreeing to receive email.                    It’s about actively opting-in to a...
Step 3 How to Use the 5 Principles    of Multichannel Marketing   Definition: VoC-driven process    for deployment of th...
Step 4 How to Increase the Power    of Your Online and Social    Media Marketing   Definition: Digital media  represents...
Step 1: How to Use Voice ofCustomer Research to DriveYour Engagement Strategies            Step 1:             VoC        ...
Global CMO Survey:                     For 42% of CMOs:         “…representing the voice of the customer       is one of t...
This economy and                     social media have                    profoundly changed       Don’t        buyer’s pr...
VoC Learnings        Question                    AnswerWhich has more impact on      Engagement/Relationship   retention a...
VoC Learnings         Question                      AnswerWhich is a more significant      Engagement/Relationship driver ...
Customer EngagementWe at Academic PCS would like to see Flash in 64-bit version as soon as possible.This is very important...
Customer Engagement“…customers with highest feedback scoresalso had the greatest lifetime values.Differences in lifetime v...
VoC Learnings1. Providing Value                                 “Self-serve makes         “Don’t just sell me    it easy f...
VoC Learnings2. Relationships                                  “The fastest way                                 to be forg...
VoC Learnings3. The Web                              “When you tell me                                                    ...
VoC Learnings4. The Importanceof Community Per McKinsey research, as cited in the Wall Street Journal, people who particip...
 Community-     driven, online  marketer specializing           in                          According to the Sloan Manage...
Step 1: VoC Research
VoC Learnings5. Communications:   “Mail should be specific   to my role, to what I do        all day long.”         “Email...
VoC Learnings6. Advice from C-Level Executives• “You think because I’m the CIO, you have to send all your marketing  commu...
VoC Helps You Transform Your           Marketing. . .• From “CRM” and               • To “CMR” and “customer-  “managing” ...
VoC Helps You Understand and                 Pre-Test. . .•   How to change from relationships based         •   How your ...
Kris Gates                   AVP, Customer Experience Marketing                   MassMutual                   MassMutual’...
CASE STUDYTransforming Your Customer Experience                                        Step 1: VoC Research
MassMutual                    MMRS by the numbersRetirement Services           1.37 million consumers from 7,000 plansA di...
Currently in a position of StrengthRecord plan sales for 3rd year in a row – 15% sales increase year over yearRecord plan ...
Abundance of quantitative data, but it’s not driving real change••    Various interpretations of the same data•    Questio...
So, why do a VoC            Things to Consider                The VoC     program?                  Before Launch         ...
Our VoC ObjectivesDetermine barriers for retirement planning at various ages   Why are workers not prepared?Learn what too...
Selecting Your                                                  MassMutualAudience                  Research Sample       ...
Develop Key                    Key VoC                 Conduct     Questions                 Question Funnels           In...
VOC Results                                           Key Learnings                         Our customer service experienc...
VOC Driven Action ItemsBased on VoC learnings and specific customer suggestions, the recommendedaction steps address commu...
Step 1VoC-Based Enrollment/Transfer Process       Offer more educational assistance to     customers during the enrollment...
Step 2                                                            VoC Insight                                    Interacti...
Step 3                                    Proactive, Ongoing Customer Touches                                      MassMut...
Step 4                              VoC Insight Lack of engagement with both MassMutual and their retirement planningis a ...
Step 5                              VoC Insight     Respondents no longer with the company that initially provided       t...
3 Customer Experience Action Items1. Analyze how you are onboarding (welcoming) your   new customers. Invest in this touch...
Eric Greenberg                     EVP Marketing                     Life Line Screening, (LLSA)                     Life ...
Gaining an In-Depth Understandingof Customer Requirements   CASE STUDY                                    Step 1: VoC Rese...
Life Line                     Significant number of customer touch Screening                     pointsLeading provider of...
Why do a VoC                  VOC Planning                   The VoC   program?                                           ...
VoC ObjectivesGain a VoC-driven understanding of how LLS can increasecustomer retention.• How customers view LLS strengths...
Develop Key                    Key VoC                    Conduct                                  Questions     Questions...
VoC confirms                              Key Findings                                 NPS                                ...
VoC-Driven Action PlanCreate a higher value     Established, for 1st    Call Center moved         Increasedcustomer experi...
Create a Higher Value Customer Experience• Relationship skills training for Customer Service Reps;    Preventive Healthcar...
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Learn the 4 essential requirements. part 1 of 4

  1. 1. Transforming YourCustomer Experience: Learn the 4 Essential Requirements PART 1 of 4 ©2012 Ernan Roman Direct Marketing
  2. 2. Ernan Roman President Ernan Roman Direct Marketing Corp. (ERDM) Inducted into the Marketing Hall of Fame for creating three transformational methodologies: Integrated Direct Marketing, Opt-In Marketing, and Voice of Customer Relationship Research. Named to “B to B’s Who’s Who” as one of the “100 most influential people” in Business Marketing by Crain’s BtoB Magazine. His latest book on marketing best practices is titled, “Voice of the Customer Ernan Roman Marketing”. President, Author of the widely read blog, “Ernan’s Insights on Marketing Best Ernan Roman Practices”, (www.erdm.com).Direct Marketing ERDM provides Customer Experience Marketing consulting services for Corp. (ERDM) companies such as IBM, MassMutual, QVC, NBC Universal, Microsoft, Hewlett-ernan@erdm.com Packard, and Symantec Corp. ERDM has conducted over 9,000 hours of in-depth www.erdm.com interviews with customers and prospects of these clients to gain an in-depth understanding of their expectations for a high value customer experience. Also authored “Opt-In Marketing” and “Integrated Direct Marketing”.
  3. 3. Kris Gates AVP, Customer Experience Marketing MassMutual MassMutual’s Retirement Services Division has been serving retirement plans for 65 years. It offers a full range of products and services for corporate, union, nonprofit and governmental employers defined benefit, defined contribution and nonqualified deferred compensation plans. It serves approximately 1.3 million participants. Kris GatesAVP, Customer Kris Gates joined MassMutual in 2006 and is currently AVP of Customer Experience Experience Marketing for the Retirement Services Division. His current Marketing, responsibilities include developing and executing strategies for the MassMutual customer experience, as well as, strategy and content for our client facing web portals. Prior to assuming his current role, Mr. Gates served as the Director of Advisor Marketing for MassMutual’s Marketing Area, where he was responsible for the communications making up the advisor experience. kgates@massmutual.com www.massmutual.com
  4. 4. Eric Greenberg EVP Marketing Life Line Screening, (LLSA) Life Line Screening is the country’s leading provider of community-based preventive health screenings. LLSA screens nearly 1 million people in the US and UK each year in over 17,000 community locations – helping consumers avoid the catastrophic effects of stroke and heart disease. Eric has helped build LLSA into one of the country’s premier direct-to- consumer healthcare companies. Eric Greenberg EVP Marketing Before joining LLSA in 2003, Eric, was President of DMM Partners, a directLifeLine Screening marketing consulting practice. He also was Co-President of InteliHealth, a joint venture of Aetna US Healthcare and Johns Hopkins University. EGreenberg@llsa.com www.lifelinescreening.com
  5. 5. Steven Shapiro Director, Global Relationship Marketing Symantec Norton is the world’s leading provider of Consumer security software and services, protecting over 135 million users globally. Norton’s core products include Norton AntiVirus, Norton Internet Security, and Norton 360. Steven has over 17 years of diverse experience leading e-commerce, web-Steven Shapiro based applications, and software-as-a-service solutions for such companiesDirector, Global as Gemstar-TV Guide, UpShot, McAfee, and Symantec. Relationship Marketing Steven has continually championed improvements through tenacity, Symantec passion, innovation, and an unrelenting need to understand. Steven_Shapiro@symantec.com www.symantec.com
  6. 6. Joe Leader Vice President, Strategic Business Development PossibleNOW Joe Leader serves as a Ph.D. level expert on leveraging new business technologies. In 2012, Leader joined PossibleNOW, the top preference management company in the world with over 80 billion customer preferences managed on behalf of over 700 enterprise-level companies. Joe Leader Vice President, Previously, Joe led marketing efforts at a technology company ranked #2 on theStrategic Business Inc. 500, growing a new division from zero to $150 million in revenue and later Solutions selling the division to a multi-billion dollar company. At a Fortune 1000 high- PossibleNOW tech company, Leader spearheaded worldwide channel marketing bringing a 10-times increase in channel revenue. Most recently, Leader marketed air travel technology into one of the largest travel distribution networks in the world creating a $100 million new market. Leader holds both Bachelor’s and Master’s degrees from Emory University, and an MBA in technology management, and completes his business Ph.D. this year with his marketing research focused on accelerating new product adoption. jleader@possiblenow.com www.possiblenow.com
  7. 7. Doug Stein President HMS National, Inc. Doug was a distinguished Fortune 500 consultant for Accenture in the 1990’s. There he helped manage some of the firm’s most prominent projects while also being key to the development of significant corporate solutions and industry offerings that notably increased market share and profit for the world’s largest consulting firm. Doug Stein In his current position, Doug is the senior executive at HMS National responsible President for developing and delivering innovative growth strategies in a historicallyHMS National, Inc. mature and commoditized industry. dstein@hmsnational.com www.hmsnational.com
  8. 8. Welington Fonseca Head of CRM Gilt Groupe Welington oversees all member communication and retention programs including Gilt’s Noir loyalty program. He started his career at Gilt in September of 2011 and since then has spearheaded implementation of several ongoing activation, reactivation, and loyalty programs, and the optimization of Gilt’s contact management practices by delivering fewer, more relevant communications. Welington Fonseca Previously, Welington was a Vice President of Marketing at Lord & Head of CRM, Taylor, overseeing its customer acquisition and retention programs both in-store Gilt Groupe and online, and a Director of Marketing at Toys “R”Us, where he managed allwfonseca@gilt.com “R”Us guest programs. www.gilt.com He obtained his BA in business from Mackenzie University in his home country Brazil, and his MBA from Ross School of Business in Michigan. He is the father of five year-old twins and currently resides in Ridgewood, New Jersey. wfonseca@gilt.com www.gilt.com
  9. 9. Workshop Agenda Saturday, October 13th, (10:00am – 4:30pm) Step 1, How to Use Voice of Customer Research to Drive your Engagement Strategies: 10:00am – 12:30pm • Kris Gates, MassMutual • Eric Greenberg, Life Line Screening Break: 11:15am – 11:30am Lunch: 12:30pm – 2:15pm Step 2, How to Create Powerful Opt-In Databases to Drive High Impact Personalization Strategies: 2:15pm – 4:30pm • Steven Shapiro , Symantec • Joe Leader, PossibleNOW Break: 3:30pm – 4:00pm
  10. 10. Workshop Agenda Sunday, October 14th, (9:00am – 1:50pm) Step 3, How to Use the 5 Principles of Multichannel Marketing: 9:00am – 10:00am • Doug Stein, HMS National, Inc. Break: 10:00am – 10:15am Step 4, How to Increase the Power of Your Online and Social Media Marketing: 10:15am – 11:15am • Welington Fonseca, GILT Groupe Lunch: 11:15am – 12:45pm Step 4 (cont.), Increase Online and Social Media Marketing Effectiveness: 12:45pm – 1:50pm
  11. 11. Overview
  12. 12. Amazing Opportunities for Engagement Business Insider 5/17/12 Overview
  13. 13. Consumers are Multi-dimensional;Multi-channel and Multi-purpose Overview
  14. 14. New York Times App New York Times 10/3/12 Overview
  15. 15. Pictures live fromthe event New York Times 10/3/12 Overview
  16. 16. Samuel Adams Crowd-Craft Project: Customers created “B’Austin Ale” Invited Sams Twitter, Facebook, and Google+ friends to provide their preferences to help create a new beer Asked to make their choices about the beers malt profile, hops selection, yeast type Per Steve Greenlee, at 99 bottles: “Man is it good” New York Times 7/30/12 Overview
  17. 17. Amazing Technology Overview
  18. 18. New Google App Gives You Local Information — Before You Ask for ItApp provides people with information about places around them- unprompted, without the need to ask for the information.Field Trip, “offers historical trivia about a park, an architectural factoid about abuilding or reviews of a nearby restaurant. Google says it’s like having a localfriend with you as you make your way through a city”. New York Times 9/27/12 Overview
  19. 19. Time to Stop Doing It Wrong WSJ 3/19/12 Overview
  20. 20. Time to Get it Right Treat customers the way we want to be treated……and generate double-digit increases in response and revenue Overview
  21. 21. Goal for this WorkshopHelp you achieve the success of innovators such as: Overview
  22. 22. Achieve Consistent Double-Digit ResultsMicrosoft’s success: Opt-in rates up to 95% Open rates greater than 50% Response rates performing in the double-digits Volume license revenue from those in the VoC-driven program is 2x greater than the control Overview
  23. 23. Achieve Consistent Double-Digit Results “When HP uses the Voice of Customer methodology, our marketing campaign results improve dramatically: response rates improve 3x to 10x, sales increase 2x or more, and we can spend far less to get great results.” -- Gary Dawson, Hewlett-Packard Americas Advertising and Direct Marketing Manager Overview
  24. 24. Achieve Consistent Double-Digit Results HMS National, Inc. Life Line Screening25% 50%* increase in 50% 65%* growth inaverage renewal rates returning customers*updated 9/21/12 *updated 8/15/12 Overview
  25. 25. Powerful Alternative: Customer Experience Marketing Definition*: 1. Discipline of improving the customer experience across every point of contact with your organization. 2. Applies to all elements of the media mix and all departments in your organization. 3. These quality experiences must be maintained throughout the customer’s lifecycle (not just during Acquisition and Renewal). * Ernan Roman Direct Marketing, 9/21/12 Overview
  26. 26. Powerful Alternative: Customer Experience Marketing Definition*: 4. The experiences must be driven by individual preferences regarding: message, timing, frequency and media mix. 5. Preferences must drive high quality personalization of communications and experiences. Privacy of preference information must be protected by marketers. 6. Focus is on improving, not “managing” customer experiences; Customer Experience Marketing, not “Management”. * Ernan Roman Direct Marketing, 9/21/12 Overview
  27. 27. The VoC-Driven CEM ProcessCEM is a process Companies who Goal is to achieve implement the CEM that in-depth process consistently values, and is relationships based achieve double- guided by, the on understanding digit increases in insights of how customers and response, revenue customers prospects define and retention. and prospects. their expectations Includes Microsoft, for relationship, NBC Universal, relevance and IBM, HP, engagement . and mid-size companies. Overview
  28. 28. 4-Step Voice of Customer-Driven CEM Process for Achieving Consistent Double-Digit Results Step 4: Step 2:Online and Opt-In Social Engagement Step 1: VoC Research Step 3: Multichannel Marketing Overview
  29. 29. Step 1 How to Use Voice of Customer Research to Drive Your Engagement Strategies Definition: Specialized depth research to understand customer/prospect needs, decision making process and expectations of the optimal experience via Step 1: web, digital, email, offline VoC media and customer service call Research centers. These insights enable development of customer driven Engagement Strategies and Action Plans. Overview
  30. 30. Step 2 How to Create Powerful Opt-In Databases to Drive High Impact Personalization Strategies Definition: VoC-driven process Step 2: for engaging customers/ Opt-In prospects to Opt-in and Engagement self-profile their preferences, thus creating Step 1: uniquely accurate Opt-in VoC databases. Research Overview
  31. 31. Important! Opt-in is notabout passively agreeing to receive email. It’s about actively opting-in to a relationship and self-profiling your preferences and aversions. Overview
  32. 32. Step 3 How to Use the 5 Principles of Multichannel Marketing Definition: VoC-driven process for deployment of the social and traditional multichannel media Step 2: mix, per individual preferences. Opt-In Engagement Step 1: VoC Research Step 3: Multichannel Marketing Overview
  33. 33. Step 4 How to Increase the Power of Your Online and Social Media Marketing Definition: Digital media represents not just a means Step 4: Step 2: for selling, but a unique way to Online and Opt-In create or improve relationships. Social Engagement Selling is a by-product of the quality and mutual benefit of Step 1: those relationships. VoC Research Step 3: Multichannel Marketing Overview
  34. 34. Step 1: How to Use Voice ofCustomer Research to DriveYour Engagement Strategies Step 1: VoC Research
  35. 35. Global CMO Survey: For 42% of CMOs: “…representing the voice of the customer is one of the most critical factors in ensuring personal success as a marketer”.“CMOs and their peers understand that the real challenge is …to become the experts of the customers…They must understand what customers represent for the whole organization to help shape the strategy for the overall business.” -- Luca Paderni, VP and Principal Analyst, Forrester. Heidrick & Struggles and Forrester Research, 1/23/12 Step 1: VoC Research
  36. 36. This economy and social media have profoundly changed Don’t buyer’s priorities and re-engineer expectations.your relationship If you have not marketing recalibrated strategies from strategies within the the isolation past 12 months, you are out of sync with of your your customers. conference VoC insights ensure room. . . you develop truly customer-focused strategies to drive relevance and revenue. Step 1: VoC Research
  37. 37. VoC Learnings Question AnswerWhich has more impact on Engagement/Relationship retention and repeat strength has 12 times more purchases; influence on retention and Customer Satisfaction or repeat purchases than Customer Satisfaction.Engagement/Relationship? Satisfaction is a minimum expectation. Step 1: VoC Research
  38. 38. VoC Learnings Question AnswerWhich is a more significant Engagement/Relationship driver of word of mouth strength has 18 times more recommendations; influence on word of mouth Customer Satisfaction or recommendations thanEngagement/Relationship? Satisfaction. This has profound implications for re-allocating greater budget for Retention/ Relationship building. Step 1: VoC Research
  39. 39. Customer EngagementWe at Academic PCS would like to see Flash in 64-bit version as soon as possible.This is very important creating and taking advantage of current hardware technologies. Step 1: VoC Research
  40. 40. Customer Engagement“…customers with highest feedback scoresalso had the greatest lifetime values.Differences in lifetime value between customers withlowest and highest feedback scores ranged from:43% among retail customers to 288% among keybusiness accounts." Forrester Research, 12/8/11 Step 1: VoC Research
  41. 41. VoC Learnings1. Providing Value “Self-serve makes “Don’t just sell me it easy for you, not the service. Provide the customer.” ongoing value at key times.” “Email blasts “The quality of your do not equal service is key to ‘relationships’.” how we judge you.” Step 1: VoC Research
  42. 42. VoC Learnings2. Relationships “The fastest way to be forgotten is “We buy. You disappear to buy from you.” without a trace. Oh, except for the monthly bills.” “Relationship? You guys are about ‘buy and die’!” Step 1: VoC Research
  43. 43. VoC Learnings3. The Web “When you tell me “An easy navigation “I don’t just want to to go to the web for and commerce transact. I want to service, especially process is a connect with your when I am growing minimal company, your old waiting for a competency. . . You brand and your phone rep, what I better be at least as community.” hear is, ‘Go. . . help good as Amazon.” yourself.” In Step 4, we’ll analyze the site BtoB magazine ranked #1, and see how it compares, per VoC Research findings. Step 1: VoC Research
  44. 44. VoC Learnings4. The Importanceof Community Per McKinsey research, as cited in the Wall Street Journal, people who participate in an effective online community, return to a site: times as times as This represents a often long 45 time increase in loyalty! Step 1: VoC Research
  45. 45.  Community- driven, online marketer specializing in According to the Sloan Management Review: T-shirts designed by members of 95% of those purchasing from Threadless.com the community. have voted and posted comments…before Community is made making a purchase. up of 3 groups: 1. Purchasers Results: 2. Designers • Over 1 million users, 3. Reviewers • Over $30 million dollars in annual sales, • Approximately 30% margins. Step 1: VoC Research
  46. 46. Step 1: VoC Research
  47. 47. VoC Learnings5. Communications: “Mail should be specific to my role, to what I do all day long.” “Email may be the base of your communications with me, but I’m getting too much junk. If it’s really important, send it to me by mail.” Step 1: VoC Research
  48. 48. VoC Learnings6. Advice from C-Level Executives• “You think because I’m the CIO, you have to send all your marketing communications to me. That’s not how decisions are made here.”• “You’re using me as an executive mailroom and I don’t appreciate it.”• “I will tell you who you should communicate with, what information they need, when and via what medium.” Step 1: VoC Research
  49. 49. VoC Helps You Transform Your Marketing. . .• From “CRM” and • To “CMR” and “customer- “managing” customers. . . to managed” relationships. which has had a high failure rate. . . Per Disney: “The term ‘CMR’ reinforces the notion of the guest being the one who is driving the experience.” Step 1: VoC Research
  50. 50. VoC Helps You Understand and Pre-Test. . .• How to change from relationships based • How your customers define a value- on just transactions with customers, added and competitively differentiated to a deeper engagement based on a relationship with your company. broader understanding of their needs. • Effective value propositions for• The critical issues facing decision makers engaging customers in an Opt-In in this economy, as they evaluate your relationship with you, so they will trust product or service. you with their detailed self-profiled• Steps in the decision-making process. preferences.• Who are the decision makers and the • What info and how much info empowered influencers. customers/prospects will self-profile based regarding their preferences.• What information and offers are most effective at each step and via what mix • This information will populate your of channels. Opt-In database with uniquely accurate information. The optimal role for: web, digital, email/mail, inside sales, field sales, tech, stores. Step 1: VoC Research
  51. 51. Kris Gates AVP, Customer Experience Marketing MassMutual MassMutual’s Retirement Services Division has been serving retirement plans for 65 years. It offers a full range of products and services for corporate, union, nonprofit and governmental employers defined benefit, defined contribution and nonqualified deferred compensation plans. It serves approximately 1.3 million participants. Kris Gates AVP, Customer Kris Gates joined MassMutual in 2006 and is currently AVP of Customer Experience Experience Marketing for the Retirement Services Division. His currentMarketing, MassM responsibilities include developing and executing strategies for the utual customer experience, as well as, strategy and content for our client facing web portals. Prior to assuming his current role, Mr. Gates served as the Director of Advisor Marketing for MassMutual’s Marketing Area, where he was responsible for the communications making up the advisor experience. kgates@massmutual.com www.massmutual.com Step 1: VoC Research
  52. 52. CASE STUDYTransforming Your Customer Experience Step 1: VoC Research
  53. 53. MassMutual MMRS by the numbersRetirement Services 1.37 million consumers from 7,000 plansA division of MassMutual 1,100 employees (40 in marketing)Life InsuranceCompany, Fortune 101. Average consumer age = 42Leading provider of Average consumer account balance = $36kemployer sponsoredretirement plans Average savings rate = 5.25%including, 401k, 403b, pensions, etc.Help the American worker Our priority is consumer retirement readiness,be better prepared to fund defined by their ability to generate 70-80%their retirement. replacement income during retirement,Distribute to employers so the American worker can retire with dignitythrough 3rd party financialadvisors. Once the B2Bsales process is How can we accomplish this?complete, the product isavailable to consumers(employees). Step 1: VoC Research
  54. 54. Currently in a position of StrengthRecord plan sales for 3rd year in a row – 15% sales increase year over yearRecord plan retention, 96% – Industry average 91%Record client satisfaction – highest in company historyConsumer communication & education experience ranked #1 by Financial AdvisorsSo, what’s the value of a VoC investment now?To sustain our competitive advantageDespite our efforts, Americans are not prepared to fund their retirement 24% Only 24% on track for retirement (replacing 80%+ of current income) 34% will reach 60-80% 76% only with social can make adjustments security included now that will allow them 42% will not be to retire by age 67 retirement ready by age 67 Step 1: VoC Research
  55. 55. Abundance of quantitative data, but it’s not driving real change•• Various interpretations of the same data• Questioning of the sources• Questioning of the methodology• “Yeah, but our customers/we are different”• Traditional research is OK, if you want to know what your customers thought 6-12 months ago Consumer needs are changing faster than ever before, are we prepared to meet them? Gen Y Gen X Boomers Step 1: VoC Research
  56. 56. So, why do a VoC Things to Consider The VoC program? Before Launch ProcessWe want to do better Include the right stakeholders,for our customers. get their buy-in Determine objectives.Qualitative vs. Internal or external execution Set budget andquantitative insights. timeline. Interview length, sample sizeInteractive / in-depth Determine your Sample mix, does it mirror audienceAnswer “why/how?” your customer base/targetquestions. markets Develop key questions.Test ideas prior to any Difficulty and cost of recruiting Conduct interviews.investment. Customer Data… it’s never as Analyze findings.Protect our market good as you thinkleadership position. Step 1: VoC Research
  57. 57. Our VoC ObjectivesDetermine barriers for retirement planning at various ages Why are workers not prepared?Learn what tools, services, and information would make financialliteracy and action easier What else can we do to help?How different consumer segments define deeper relationshipswith MassMutual at key points in their lifecycle How do we create a customer for life? Step 1: VoC Research
  58. 58. Selecting Your MassMutualAudience Research Sample The research sample included the following groups of respondents.Who is our existingcustomer? How doesthat align to our salesstrategy?How many?By productline, demographic?Any 3rd partyconsiderations?Incentives?How good is the data? Step 1: VoC Research
  59. 59. Develop Key Key VoC Conduct Questions Question Funnels InterviewsLimit to major topics Brand Image? 156 one hr. interviews.to allow for in-depth Relationship with MM? All by phone with aprobes & discussion Retirement Planning? professionalwithin the 60 minutes. interviewer.Develop/Review Information & Tools? Interviews recorded;Interview Guide. New Welcome Program? “best of” listened to byEvolve based on Personalization? management team.learnings. Positive Incentives for Debriefs for strategyShould the customer Savings Goals? ideas and revised areascome prepared? for probing.- Deeper thought vs. gut 3 Things MM shouldfeelings. prioritize? 59 Step 1: VoC Research
  60. 60. VOC Results Key Learnings Our customer service experience is very• Interviews were positive. completed end of Feb. Overall engagement is low.• Preliminary insights & action steps completed end of Customers request more proactive, March personalized communications.• Executive Segmentation by needs and life stage, presentation April relative to the support and guidance they expect from MM. Few customers were adequately prepared for retirement. 60 Step 1: VoC Research
  61. 61. VOC Driven Action ItemsBased on VoC learnings and specific customer suggestions, the recommendedaction steps address communications and programs through key lifestages. 61 Step 1: VoC Research
  62. 62. Step 1VoC-Based Enrollment/Transfer Process Offer more educational assistance to customers during the enrollment/transfer process, as some have trouble understanding even the basics of asset allocation and selecting a savings amount. Making the enrollment/transfer process as inviting, memorable and user-friendly as possible will be key, and customers offered specific suggestions to help. Providing an overview of the “Next Steps” process during this initial phase will better prepare them. Conducting a “Needs Assessment” will help to target appropriate lifestage information and education. 62 Step 1: VoC Research
  63. 63. Step 2 VoC Insight Interacting shortly after enrollment will, as many articulated, “make me feel like they care whether or not I’m their customer.” A New Customer Welcome concept was tested, and respondents’ feedback greatly enhanced it. New Customer Welcome Program Customers wanted Customers wanted to Customers reported Customers wanted toto be able to schedule specify how they met with that they would be able to meet in a a call, to ensure MM: via phone, online appreciate having groupconvenience, and give chat, texting, emailing, written materials setting, followed bythem time to prepare. or even Skyping. sent for reference. the option to meet individually. 63 Step 1: VoC Research
  64. 64. Step 3 Proactive, Ongoing Customer Touches MassMutual must offer multiple levels of educational assistance in a variety of formats to best serve customer’s needs. Introduction VoC Insight Retirement Retirement to YourMost customers would welcome Retirement occasional touches by MassMutual. Webinars These touches should focus Help reading on offering education and statements information about their accounts, about MassMutual processes and policies(i.e. how to change their savings amount) and retirement planning in general. 64 Step 1: VoC Research
  65. 65. Step 4 VoC Insight Lack of engagement with both MassMutual and their retirement planningis a considerable barrier for customers. Reaching out annually with an offer of a personal meeting will help break through the inherent apathy and forge a stronger connection between MassMutual and its customers. It will also remind customers, at least annually, about MassMutual and their retirement account. Annual Review/Anniversary Program Representatives will offer to meet to: •Review the last year’s performance. •Set goals for the upcoming year. •Answer any questions. •Offer help with consolidating other plans. •Update their needs assessment and preferences. •Remind them there is a “Next Steps” (Terminated) Plan. This program was suggested, and then tested, with customers and received much positive feedback. 65 Step 1: VoC Research
  66. 66. Step 5 VoC Insight Respondents no longer with the company that initially provided their retirement plan reported being very confused about what they were supposed to do during the transition. Many cited feeling “lost” and “alone” and completely at a loss as towhat to do with their account. This is a significant opportunity to cement a relationship with customers, who find themselves at a critical, emotional time in their lives, with many looking for a helping hand to guide and reassure them. Providing support will deepen engagement and create a connection to MassMutual. “Next Steps” (Terminated) Plan Allow the customer The customer should be Send a summary to schedule a able to select the channel of the meeting meeting at they prefer for the for reference. their convenience. meeting: phone, Skype, online chat, etc. 66 Step 1: VoC Research
  67. 67. 3 Customer Experience Action Items1. Analyze how you are onboarding (welcoming) your new customers. Invest in this touch, it may end up saving you long term.2. Measure and test everything. Do you know if you customer outreach is at the frequency and in the channel your customers prefer?3. Set up organized “listening posts” with client facing areas of the business for real time voice of the customer feedback. Step 1: VoC Research
  68. 68. Eric Greenberg EVP Marketing Life Line Screening, (LLSA) Life Line Screening is the country’s leading provider of community-based preventive health screenings. LLSA screens nearly 1 million people in the US and UK each year in over 17,000 community locations – helping consumers avoid the catastrophic effects of stroke and heart disease. Eric has helped build LLSA into one of the country’s premier direct-to-Eric Greenberg consumer healthcare companies. EVP MarketingLifeLine Screening Before joining LLSA in 2003, Eric, was President of DMM Partners, a direct marketing consulting practice. He also was Co-President of InteliHealth, a joint venture of Aetna US Healthcare and Johns Hopkins University. EGreenberg@llsa.com www.lifelinescreening.com Step 1: VoC Research
  69. 69. Gaining an In-Depth Understandingof Customer Requirements CASE STUDY Step 1: VoC Research
  70. 70. Life Line Significant number of customer touch Screening pointsLeading provider of • Nearly 1 million people screened per year.community-based • 2 million phone calls.preventative health • Screen in 15,000 community locations.services. • 90 million direct mail letters.Provides affordable, • 1 million “Results” letters.high-quality screenings thatare essential to the early • 1 million email subscribers.detection of risk forstroke, heartdisease, diabetes, osteopor Strategic priority is customerosis and other conditions. retention.The direct-to-consumer Goal: Double the number ofmodel is at the forefront of returning customers from 2009 to 2012.the consumer-drivenhealthcare. How to accomplish this? 70 Step 1: VoC Research
  71. 71. Why do a VoC VOC Planning The VoC program? Process Internal or externalA satisfied customer is execution. Determine objectives.not always a returning Set budget andcustomer. Length of interviews. timeline.Qualitative vs. Sample size quantity. Determine keyNPS, quantitative segments.insights. In-person vs. telephone interviews. Develop keyInteractive / in-depth. questions.Answers the Geographical considerations. Conduct interviews.question, “why?” Difficulty and cost of recruiting. Analyze findings. 71 Step 1: VoC Research
  72. 72. VoC ObjectivesGain a VoC-driven understanding of how LLS can increasecustomer retention.• How customers view LLS strengths and weaknesses.• Why customers return or don’t return.• Opportunities for developing value-added services.• Reactions to marketing communications and Test Results Letter. Make sure learnings are actionable! 72 Step 1: VoC Research
  73. 73. Develop Key Key VoC Conduct Questions Questions Interviews How did you hear about us?Limited number of Why did you come? 48 one-hour interviews.questions (35-40) in Influencers? Mix of recent andone hour. Strengths / Weaknesses? 12-18 mo. buyers;Determine who the Credible / trusted? single/multi-buyersinterviewer will be. Expectations? All by phone withDevelop Interview Likely to come back? professionalGuide. interviewer. Pre-screening/Post-screeningDoes/should the experience Interviewers recorded;customer be prepped Communications and contact “best of” listened to byin advance strategy management team. - Interview Guide What do you tell friends? - Marketing materials 73 Step 1: VoC Research
  74. 74. VoC confirms Key Findings NPS Scores, setting the foundation for• LLS has created a valuable service and is perceived by comprehensive many as their advocate and trusted resource for their health. action plans.• Perceived as efficient, professional, convenient and excellent value for money.• LLS enables them to be proactive and empower them to take control of their health.• LLS patient test results summary is “valuable ammunition” for the patient and helps the doctor take them more seriously. It’s also a patient report card for the doctor.• Doctor plays powerful role in acquisition and retention.• What LLS is doing is well received, but customers want more:  Customers not sure what to expect from LLS (i.e. transaction vs. relationship).  Greater and more personalized touches at each touch point.  Ongoing information and value-added solutions. 74 Step 1: VoC Research
  75. 75. VoC-Driven Action PlanCreate a higher value Established, for 1st Call Center moved Increasedcustomer experience time, Director of from Operations Customer at key points Customer Experience to Marketing SegmentationPre-screening Looks at process Recognition of its Call Center holistically importance Pre-screeningDuring thescreening Established Revision of success process Customer Listening OngoingPost-screening post metrics communications Owns Customer Change in that are tailored to Service Function compensation, recr each individual’s uiting and hiring medical history and Substantial outcomes improvements in Product profitability Development Step 1: VoC Research
  76. 76. Create a Higher Value Customer Experience• Relationship skills training for Customer Service Reps; Preventive Healthcare Advisors vs. CSRs• Pre-screening communications that provide information to customers that is reassuring, credible and informative• More timely and comprehensive customer feedback to field teams• “Personally Appropriate Tests”• Field Mentoring program 76 Step 1: VoC Research
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