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Memorable Customer Experience
- 2. Our Discussion… EXPERIENCE DEFINED WHAT IMPACTS ON THE BOTTOM LINE WHY HOW MANAGING CUSTOMER EXPERIENCE
- 3. WHAT WHY HOW
- 4. Customer perception of interactions with an organization or a brand What Is Customer Experience? Success Degree to which customers can accomplish their task Effort The difficulty or ease in accomplishing their task Emotion How the interaction makes customers feel
- 5. What Makes An Otherwise Rational Person… Stand in line all night to buy the latest gadget? Save all year to visit a theme park? Pay $5 for a cup of coffee?
- 6. Addedvaluethroughdifferentiation Added value through relevance Commodity product Branded product Personal service Branded Experience Customer’s Experience Distinctive design Empathetic delivery Integrated journey Enabling more 2c coffee beans 20c branded coffee $2 coffee in store $20 in store spend with friends Customer Experience = Brand The Experience Economy: Engaging with customers and connecting with them in a personal and memorable way Source: The Experience Economy: Pine & Gilmore $150 spent a year to earn Gold status
- 7. Customers have many different interactions with a brand Interactions that influence emotion become memorable Emotions Hold The Key To Customer Experience Source: Forrester – Emotions Hold The Key To CX-Fueled Loyalty Positive and negative emotions drive a customer’s experience
- 8. “ I’ve learned that people will forget what you said, they will forget what you did, but people will never forget how you made them feel. Maya Angelou
- 9. WHAT WHY HOW
- 10. CX As A Competitive Differentiator 81% of companies have recognized the value Customer Experience brings to the company in the long-run Cost Reduction 79% of companies see evidence of cost savings by improving customer experience Uplift In Profit/Revenue 84% of companies associate improved profit margins and/or revenue by focusing on customer experience initiatives CX Is The #1 Most-Important Strategic Measure Of Performance Source: Dimension Data – 2017 Global Customer Experience Benchmarking Report
- 11. EFFECTIVENESS The experience delivers value to the customers. EASE It’s not difficult for customer to get value from the experience. EMOTION Customers feel good about their experience. RETENTION The likelihood that a customer will keep existing business with the company. ENRICHMENT The likelihood that a customer will buy additional products and service from the company. ADVOCACY The likelihood that a customer will recommend the company to others. Customer Experience Quality Customer Loyalty Forrester’s CX Index 3x more likely to recommend 3x more likely to re-purchase 44% rarely or never shop around 33% would need a discount of over 20% before they would defect 63% are likely to forgive a company's mistakes Emotionally Engaged Customers Are: Experience Matters For Loyalty Source: Forrester: The Canadian CX Index, 2016
- 12. Customers have many different interactions with a brand Interactions that influence emotion become memorable Emotions Hold The Key To Customer Experience & Loyalty Source: Forrester – Emotions Hold The Key To CX-Fueled Loyalty Memorable experiences shape relationships Relationships drive business outcomes
- 13. WHAT WHY HOW
- 14. TECHNOLOGY A cross-functional decision structure to align on priorities and action GOVERNANCE MEASUREMENT Monitor performance and impacts across all touch points for continuous improvement STRATEGYCustomer Experience Management Framework DESIGNPEOPLE CUSTOMER INSIGHTS
- 15. PEOPLE
- 16. 2.5x more than those with low employee engagement Highly engaged workers grew revenue Source: The Employee-Customer-Profit Chain at Sears, Harvard Business Review 5ptlift in employee attitudes 1.3pt lift in customer satisfactions 0.3% Improvement in revenue= = Employee Engagement Leads To Customer Loyalty 2% gain in employee engagement 1%Increased customer satisfaction=
- 17. Is your company’s culture ‘People-focused’? Do they understand their roles in the overall mission and vision of the company? Do they exemplify your brand? Are you providing them with the tools and resources needed to offer the best customer experience? Do they have enough freedom to make decisions within their roles? Are you tuned into what they think and action their feedback? Are you measuring them on the aspects that actually impacts customer experience? Is Your Environment Engagement-Friendly?
- 18. PEOPLE Recruitment Training Performance Management Hiring the right fit for the brand Empowering employees to deliver the best experience Motivating them to do the right thing
- 19. “ True customer centricity is a cultural movement at it’s core. Mike Corak
- 20. DESIGN
- 21. Customer Journey Needs To Be Designed With The Customer In Mind of buyers will pay more for a better customer experience 86% 2/3are likely to switch brands if they’re treated like a number instead of an individual Source: State of the connected customer, Salesforce of consumers say they’re likely to switch brands if a company doesn’t make an effort to personalize communications 52% of consumers agree they expect companies to understand their needs and expectations 72%of customers expect companies to anticipate their needs and make relevant suggestions before customer contact 51% of consumers say that personalized or exclusive offers and discounts influence their loyalty 65%
- 22. DESIGN Quality Ease Personal Contextual Tablestakes!! Simplicity of completing a transaction Connected experience Recognition of customer identity and needs
- 23. Tailored Interactions Build Customer Loyalty Wait in line Submit requested ID and Credit Card Sign Contract Walk to Car Check Car for Dents Open Trunk Place bags in the trunk Enter Car Wait to Warm- Up Drive to the Exit Show ID Drive Away Example: Car Rental Pick-Up Experience Eliminating Steps That Don’t Add Value For Your Customers
- 24. TECHNOLOGY
- 25. ZERO TOLERANCE FOR DIGITAL FAILURE FASTER THAN REAL TIME PERFECT INFORMATION INTUITIVE USER INTERFACE ON DEMAND SERVICES Connected World Has Created A Smarter Customer
- 26. TECHNOLOGY Empowering Enhanced Augmenting experience to match expectations Providing options, information & access to customize experiences Connecting experiences to create a new customer journey Invisible Source: Future Proof Customer Experiences, Steven Van Belleghem
- 27. Tenants Of Digital Dominance MOBILE FIRST DATA ENTERPRISE DIFFERENTIATED EXPERIENCES OMNI- CHANNEL THINKING PARTICIPATION Uber is a mobile only service Uses data to optimize routes + customer & drivers Push 1 button and everything else is behind the scene Other companies can use the network – i.e. Uber Eats Drivers are almost always consumers Source: Future Proof Customer Experiences, Steven Van Belleghem
- 28. “ You’ve got to start with the customer experience and work back toward the technology – Not the other way around. Steve Jobs
- 29. In Summary… Have a clear vision of your brand experience Put customers at the center of your business Foster the culture of ‘People’ empowerment Curate your customer journey Embrace the power of technology Own your brand experience!
- 30. THANK YOU! anjums Every Detail Matters When It Comes To Delivering An Exceptional Customer Experience Disney Institute