The Chief Customer Officer A key voice and critical role expands into the C-Suite
DEFINING THE CHIEF CUSTOMER OFFICERSENIOR EXECUTIVE AND STRATEGIST – Enables a company to deliver consistent, repeatable, exemplary customer experiences – Drives profitable customer strategy across the entire company to increase retention, revenue expansion, new customer acquisition and customer and company profitability – Establishes credibility through past performance and future visionTRANSFORMATION LEADER – Creates a customer-centric culture across the organization – Offers a depth and breadth of experience across business functions including Sales, Marketing, Service and Operations – Provides organizational transformation and employee engagement that disrupts chronic service issues, drives customer profitability and establishes competitive advantageC-SUITE EXECUTIVE REPORTING DIRECTLY TO THE CEO 1.
REASONS TO HIRE A CCOCOMPETITIVE ADVANTAGE – Focused, strategic, customer experience planning – Customer-centric culture to drive business performance and profitability – Creates a superior customer experience across the entire organizationRESOLUTION OF CHRONIC SERVICE ISSUES – Address root cause issues to eliminate customer defection – Customer-facing process re-engineered to simplify the service experience – Keep and improve relationships with current customersHIGHER CUSTOMER RETENTION – Build high quality, long-lasting customer relationships – Create happy, loyal customers who engage more deeply with the company, stay longer and purchase more products and services 2.
CCO SUCCESS STORY #1USAA USAA EXECUTIVE VP, CUSTOMER EXPERIENCE WAYNE PEACOCKA CCO CREATES AND MAINTAINS • A corporate strategy that aims to build a “relationship company” to stand apart in a highly commoditized market • A community of engaged employees • Loyal customers who are advocatesRESULT USAA’s year over year customer retention is 97 – 98% Click here to see Wayne discussing customer service at USAA 3.
ROLE OF THE CHIEF CUSTOMER OFFICERUNDERSTANDS HOLISTIC VIEW OF CUSTOMERS TO: – Leverage customer feedback and make desired change – Provide innovative products and servicesDRIVES COMPANY-WIDE CUSTOMER STRATEGY TO: – Increase retention, expand revenue and grow new customer acquisition – Increase profitabilityOVERSEES AND LINKS DISPARATE FUNCTIONAL GROUPS TO: – Deliver the brand promise – Maximize customer and company value – Simplify the customer experienceDEFINES AND DEMONSTRATES COMPANY-WIDE CUSTOMER VALUE & PROFITABILITYCREATES A CUSTOMER-CENTRIC CULTURE THAT: – Emphasizes customer awareness – Creates accountability – Integrates the customer experience into all policies, processes and technology 4.
CCO SUCCESS STORY #2ORACLE ORACLE SVP & CHIEF CUSTOMER OFFICER JEB DASTEELELEMENTS OF A CUSTOMER-ORIENTED CORPORATE CULTURE • Aspire to be viewed as a trusted long-term partner to customers • Use customer feedback to drive cross-functional service strategies and enhance product development • Maintain an overriding goal of loyal customers who are advocatesRESULT Through a string of 55 acquisitions, Oracle achieved nearly 100% customer retention Click here to see Jeb discussing his work at Oracle 5.
CCO SUCCESS INDICATORSMEASURABLE AND INCREASED CUSTOMER PROFITABILITYCLEARLY DEFINED CUSTOMER EXPERIENCE STRATEGYA FOCUSED CHANGE AGENDACUSTOMER-CENTRIC CORPORATE CULTURE TRANSFORMATIONSTRONG COLLABORATION AND INFLUENCE WITH ALL C-LEVEL PEERSHIGH EMPLOYEE ENGAGEMENT AND EMPOWERMENTLINKED END-TO-END CUSTOMER-FACING PROCESS ACROSS THE ORGANIZATIONSIMPLIFIED SERVICE EXPERIENCE FOR CUSTOMERSCLEARLY UNDERSTOOD AND ACTED-UPON VOICE OF THE CUSTOMER 6.
CCO SUCCESS STORY #3NATIONWIDE NATIONWIDE VP & CHIEF CUSTOMER ADVOCATE JASMINE Green KEY ELEMENTS OF NATIONWIDE’S CUSTOMER-CENTRIC MODEL • A focus on meeting the needs of customers through many different channels—not only external customers but also employees, agents and producers • Customer centricity embedded into the corporate culture with a top-down, bottom up approach • Collaboration with all of business units • An understanding that customer service is a fluid process to meet changing needs of changing customers • Telling the story and sharing specific examples is crucial to growing business Click here to read an interview with Jasmine 7.
A MESSAGE FROM LORI CARR I’m excited to see the Chief Customer Officer emerge, expand and finally arrive in the C-suite where it belongs to champion the customer experience… which has always been key to retaining, expanding and acquiring profitable revenue. Having been responsible for leadership, strategy and change within customer service and sales organizations in medium and large size firms for my entire career, I’m delighted to share my experience with you! 8.
YOU HAVE QUESTIONS. WE HAVE ANSWERS. You CAN grow market share and revenue by implementing a customer-centric culture. Call today to schedule a complimentary 30-minute service strategy consultation with LCA’s President Lori Carr +1 617.879.0793 firstname.lastname@example.org 9.
ADDENDUM: ADDITIONAL RESOURCES • Lori Carr & Associates • Chief Customer Officer Council • Forrester Research • The Customer Experience Exchange 10.