Customer-Centric Leadership – from Hype to Habit
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The bar on customer experience has been rising steadily, with B2B companies falling behind. This presentation highlights seven principles to boost customer centric leadership and several transformative shifts to impact profitable growth and increased satisfaction.
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Customer-Centric Leadership – from Hype to Habit
- 1. Stefan Moritz & Katja Börtschök January 2020 From Hype to Habit Customer-Centric Leadership CONFIDENTIAL AND PROPRIETARY Any use of this material without specific permission of McKinsey & Company is strictly prohibited
- 2. Turbulent times. The only constant.
- 3. Half of the S&P 500 will be replaced in the next decade
- 4. Mind the gap The bar on experience has been rising steadily, with B2B companies falling behind ... > 50% of B2B buyers want to use eCommerce solutions to make purchases 60% of B2B customers find remote sales as or more effective than traditional sales ... but only ... 18% 10% of B2B organizations say they have a customer-centric strategy of B2B organizations say they offer online, automatic customers self-service tools
- 5. 70% of B2B customers are likely to switch for a better digital customer experience Expectations have shifted big time. “Amazon can deliver parts tomorrow, why can’t you?”
- 6. Flipping the script on CX Not just a cherry on top
- 7. Customer Centric Cookbook Flipping the script on CX But a new recipe for success
- 8. Discover the art of the possible Customer Centric Cookbook 1 New business models 7 Outlearning the com- petition 6 Empowered employees 5 Ecosystem solutions 3 Joint innovation 2 Customer interface 4 Anticipate customer needs
- 9. 1 New business models 44 NPS +2 increase as CX is aligned with the outcome 100% Carbon neutral operations and 32% circular revenue by 2025 3.8% Comparable sales growth increased from (12.7%) in 2020 Lighting up growth.
- 10. 2 Customer interface 16.0 EV to EBITDA ratio, Dec 22 500m engaged acres with 50% highly engaged by 2026 #1 highest owner loyalty by tractor segment Sustainably engaged.
- 11. 3 Joint innovation Customers shape travel. Rolling innovation lab The concept bus helped test new ideas & experiences over time while gathering feedback from travelers everyday 80% of users rated the 1st version of the concept bus better than regular busses 93% Reducing the time-to-market by 93% from 7 years to 6 months through co-creation with stakeholders and customers
- 12. 4 Anticipate customer needs Speeding to serve. 18.1 EV to EBITDA ratio EX Recognized as best employer in the world (Forbes) 7.5% Maintenance service sales growth
- 13. 5 Ecosystem solutions Unlock an ecosystem. +34% p.a. revenue growth 2019-21 22% higher margins than that of peers (46% higher margin considering HQ) 2.5x shorter time from add publishing to sales vs competitors
- 14. 6 Empowered employees Empower to empathize. $2,000 every employee can spend per guest, per day, to resolve a problem or create a special experience without supervisor permission 70 NPS, as per Satmetrix’s 2020 report
- 15. 7 Outlearning the competition Outlearn competition. 88% would recommend working at Slack to friend, 97% approve of CEO (Glassdoor) 77% of Fortune 100 companies use Slack Connect 55 NPS, as per Comparably, 2021
- 16. Discover the art of the possible Customer Centric Cookbook 1 New business models 7 Outlearning the com- petition 6 Empowered employees 5 Ecosystem solutions 3 Joint innovation 2 Customer interface 4 Anticipate customer needs
- 17. It’s a winding road.
- 18. 1 2 3 4 5 6 6 shifts need to happen
- 19. From Customer experience as a ‘nice to have’ To Pursuing business- critical customer experience aspiration and purpose Shift 01
- 20. From Siloed KPIs and missing CX link to business value To Customer experience linking clearly to business value Shift 02
- 21. From Just talking about the customer To Collaborative value creation Shift 03
- 23. From Reactively explaining CX scores To Pro-active initiative and results Shift 05
- 24. From Customer experience as a frontline job To Customer experience being everybody’s job Shift 06
- 25. Shifting expectations. gears together! x x 3 CX Learnings 3 Months 3 Colleagues Shifting
- 26. Thank you! Please get in touch Stefan_Moritz@mckinsey.com Katja_Boertschoek@mckinsey.com