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5 principles to great CX
This document discusses principles for achieving great customer experience (CX). It emphasizes the importance of knowing customers through capturing both implicit and explicit customer data to understand customer journeys. An integrated customer experience platform is recommended to break down data silos and provide a single view of the customer to enable contextual and personalized experiences across channels. The principles also stress simplifying the customer experience through streamlined processes and technologies that orchestrate engaging customer journeys.
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5 principles to great CX
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- 2. Agenda 1. Why isCustomer Experience (CX) important 2. 5 Principles to great CX
- 3. A global digital marketingand technology agency focused on customer experience
- 4. Unique Marketing Technology expertise Our breadth and depthof expertise across the Martech eco- system provides unique value to clients. Industry Experience Deep expertise in professional services, Manufacturing, Financial Services, Insurance, CPG, High-Tech. Digital Marketing Experts Deep expertise in the digital. Work for 45 Fortune 500 companies. Philosophy Push the envelope. Nimble. Inch wide and a mile deep. Serious about our work, but we don’t take ourselves seriously. At a glance
- 5. A new customerhas emerged
- 6. Anew customer has emerged always-on,always- connected and informed journey is dynamic and cross channel has little attention
- 7. Sure, we communicate withcustomers
- 8. Marketing is failingto engage customers
- 9. Source: Watermark Consulting WhyCustomer Experience Matters • 2X customer retention - Aberdeen Group • 89% retention for companies with strongest omni-channel strategies -Aberdeen Group • By 2020 customer experience > price & product - Customers 2020 Report
- 10. Why Customer Experiencematters CX is Top priority of organizations 89% People stop doing business with a company with a bad customer experience 93% Executives say it is a top 3 priority If you don’t do it right 20% Impact on revenue
- 11. 94% of customershave discontinued communication with a company because of irrelevant messages (source: Blue Research)
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- 13. Today, 89% ofmarketers compete primarily on the basis of customer experience — discrete moments that, together, strengthen or weaken a customer's preference, loyalty and advocacy. (source:Gartner)
- 14. 5000times faster thanabank. Kabbageapprovesloans fast throughdigital DisneyMagicbrands trackstheentire experienceattheir theme parkandprovides customers abilitytosee exactly whattheywantat thepark Breakthrough customer experience
- 15. Business model is drivenby providing the right recommendations based on customer behavior Simplicity and convenience disrupted a whole industry Breakthrough customer experience
- 16. Greatest impact achievedthrough following 3 initiatives in 2015: multichannel orchestration, self- service and creating a single view of the customer. Invest in CX
- 17. 16 5Martech principles of engagingCustomer Experiences 1. Know your customer 2. Integrated Customer Experience Platform 3. Contextual experiences 4. Multi-channel content marketing 5. Simplify
- 18. 17 17 Principles of CX •Know your customer
- 19. “Now to betruly competitive your company must become customer obsessed, which means you need to have deep knowledge of and engagement with your customers.” Winning in The Age of The Customer Forrester Research Inc
- 20. Move from touchpointsto customer journeys…
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- 23. Understanding the CustomerLifecycle 1 2 3 4 6 Awareness Search Evaluate Commit Value 5 Advocate The customer recognizes a need and looks for a solution Has a problem to solve Goes to a tradeshow Reads an article The customer looks for a solution to satisfy their needs Searches Google for solutions Visits a store Accumulates knowledge of options The customer weighs the alternative solutions available Researches vendors Talks to peers Engages a discussion forum The customer commercially commits to the solution and vendor Compares pricing Talks to references Commits to the vendor The customer realizes the value the vendor provides Value is realized Differentiatio n is appreciated The customer communicates the value to their industry peers Talks to peers Engages in a discussion forum Further commits to the brand RetentionAcquisition
- 24. Know your customer 3waysto capture customer information: Implicit:insightcapturedfromthe websitejourney—the‘digitalfootprint’ leftbythevisitoronyourdigitalassets External: Informationcapturedby externalserviceproviders,emerging context-enrichedservices Explicit:Convertunknowntoknown andcaptureinformationsuppliedby thevisitorastheysubscribeand downloadassets
- 25. Customer analytics hasbecome the most critical technology investment for CX improvement. (source:Gartner)
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- 27. Single view ofthe customer is key to contextual marketing
- 28. Measuring engagement Cold HotToo late
- 29. 28 Principles of CX IntegratedCustomer Experience Platform
- 30. Marketing technology must workin symphony
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- 32. 31 Flying blind dueto lack of insights Explosion of marketing technology
- 33. Integrated Customer ExperiencePlatform
- 34. 33 Principles of CX Contextualexperiences
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- 37. Hilton usesAI toprovide Concierge services to provide customers information AI drives customer experience Brands are at the cusp of makingAI an everyday element of customer experience.
- 38. 37 Principles of CX Multi-channelcontent marketing
- 39. COPE to engageclients
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- 42. And for themarketer
- 43. TECHNOLOGY Orchestrate the customerjourney Unknown Person Sees Brexit story on social media Sees article on website Is served the next interesting article Subscribes Becomes Known Receives Brexit email on mobile device Share network on social media Invited to Event Partner recognize interest Engages with prospect Search delivers next article Subscription Center manages profile Capture engagement in CRMAnonymous profile created and client is segmented Profile is matured Personalized and Dynamic content