Growth Builder: An Introduction to the Customer Experience
•Download as PPSX, PDF•
2 likes•101 views
A short introduction to customer experience: what is it, why customer experience is a commercial necessity, the benefits of improving it, the attributes of customer experience leaders, and the return on investment of doing so successfully.
More Related Content
Similar to Growth Builder: An Introduction to the Customer Experience
Similar to Growth Builder: An Introduction to the Customer Experience (20)
Recently uploaded
Recently uploaded (20)
Growth Builder: An Introduction to the Customer Experience
- 1. G R O W T H B U I L D E R . C O . U K
- 3. We live in an Experience Economy >1980s PRODUCTS 1990s BRANDS Today EXPERIENCES
- 4. The way people buy has changed: THE CUSTOMER IS IN CHARGE THEY KNOW MORE THAN YOU DO Access to info, feedback, reviews, social media, comparison sites etc. THEY SPREAD THE WORD Customers can tell the world about your business in seconds, for free. THEY HAVE THE CHOICE Customers have more choice than ever who to give their business to.
- 5. The customer has greater expectations MORE PERSONALISATION 24-HOUR CONTACT MORE OPTIONS LISTEN, RESPOND AND TELL GET ANSWERS INSTANTLY
- 6. "In an age of exceptionally high customer expectations, customer experience has emerged as the new competitive battleground." gartner.com
- 7. EXPECT INSTANT INTERACTION 65% of consumers expect companies to interact with them in real time Source: Salesforce.com EXPECT SUPPORT 90% of consumers expect a useful self-service support portal or FAQ page Source: Microsoft The Stakes Are High WANT IT PERSONALISED 73% of consumers want businesses to use their personal data to make the experience more relevant Source: Accenture FREE TO MOVE 70% of consumers said technology makes it easier for them to take their custom elsewhere Source: Salesforce.com 90%65% 70% 73%
- 8. "90% of UK customers said they would be willing to spend more with a company if they improved the overall customer experience". econsultancy.com But the Rewards Are Too
- 9. INCREASED PROFIT LEVELS Companies that excel at customer experience generate 60% higher profits than their competitors Source: Gartner Group And it's not just customer spend that increases 60% 30% INCREASED COMPANY VALUE A 10% increase in customer retention yields a 30% increase in the value of the company Source: Gartner Group 25-125% INCREASED RETENTION RATES Just a 5% increase in customer retention can increase profits by 25- 125% Source: Gartner Group
- 11. "We see our customers as invited guests to a party, and we are the hosts. It's our job every day to make every important aspect of the customer experience a little bit better". Jeff Bezos, Amazon A SHARED VISION
- 12. AUTHENTIC VALUES "You’ve got to start with the customer experience and work back toward the technology, not the other way round". Steve Jobs, Apple
- 13. CUSTOMER KNOWLEDGE "The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself". Peter Drucker, Management Guru
- 14. JOINT EFFORT "People want guidance, not rhetoric; they need to know what the plan of action is and how it will be implemented. They want to be given responsibility to help solve the problem and the authority to act on it." Howard Schultz, Starbucks
- 15. SIMPLICITY "Don’t make the process harder than it is". Jack Welch, The Jack Welch Management Institute 1. fewer processes 2. fewer steps 3. continuous improvement
- 16. HIGHER EXPECTATIONS 54% of Brits have higher expectations than ever before Source: Microsoft The Time is Now 54% 43% NO RETURN IF UNSATISFIED 43% of UK consumers would not buy again after one less than satisfactory experience Source: Institute of Customer Service 68% THEY WILL MOVE ON 68% are taking their business elsewhere because of a poor experience Source: Microsoft
- 18. Meet Beth, a single working mum. Beth runs her own online business, and business is doing well. As her main work tool, her iMac is vital to her. Beth's iMac breaks down on a very busy day. What to do now? She can't work without her computer, and her laptop has been borrowed by one of her kids. Journey Phase Trigger Beth uses her mobile to Google a local mac expert. Not finding what she's looking for - she asks her friends on Facebook. A couple of friends recommend MacExpert. Discovery Beth can't find where or how to book the repair service she needs from their website, so she has to phone them. That’s irritating, thinks Beth, as she's running late for a meeting already! Contact After a long wait, she gets through to explain her problem + provide her address and contact details. She is then told she needs to speak to a technician, who will phone her back... Touch Points Experience How to Optimise? ...... ...... ... Background
- 19. Beth has to arrange for a friend to pick up the children from school, so she can bring in the mac. Stuck in traffic. What a horrible day. Journey Phase Contact Beth hands over her Mac to a friendly technician. They can't find the one she spoke to initially, so she has to explain the whole thing again. It will be 2-3 days before they can diagnose the problem and another week or so to fix. Service Beth waits 4 days without hearing from MacExperts. She decides to phone them and finds out that her computer was fixed yesterday… She can pick it up between 2 and 4pm. A technician phones her back after an hour. He is very helpful, but she has to give him the same information all over again. Then she's told to bring her Mac to MacExpert herself at 3pm for a diagnosis. Touch Points Experience After 5 days, Beth gets back to work on her computer. Very happy they could fix it and pleased with the in-store service she received. She get's an email asking her to review MacExperts, but with 24 questions, Beth can't prioritise the review as she's already behind on work! Loyalty How to Optimise? ...... ...... ...
- 21. 54% greater return on marketing investment The ROI of Customer Experience 54% 10x 10 times lower costs of customer service 24% 24% more positive social media mentions Source: Aberdeen Group
- 22. 3.5 times greater revenue from referrals The ROI of Customer Experience 3.5x 18x 18 times faster average sales cycle 56% 56% more cross- and up-sell revenue Source: Aberdeen Group
- 23. The Value of Experience more customer loyalty greater lifetime value a sustainable competitive edge more referrals greater share of wallet lower churn rates
- 24. HOW WILL YOUR CUSTOMER EXPERIENCE LOOK ONE YEAR FROM TODAY?
- 25. THE TIME IS NOW G R O W T H B U I L D E R . C O . U K
Editor's Notes
- Practical Example: 1-click ordering
- Practical Example: iPhone touchscreen
- Practical Example: T-Mobile CEO John Legere reads and sometimes respond to up to a hundred customer emails every day personally
- Practical Example: Sainsbury's
- Practical Example: Canon
- Response times. Centralised database. Collection service. VIP collection service for a fee.