Customer experience improvement can—and does— drive bottom-line results. So how can we prove that making customers happier can make you and your shareholders happier too?
How Touchpoint Mapping® can help you increase acquisition, boost retention, and drive brand loyalty by moving more of the right customers closer to your organization.
How Touchpoint Mapping® can help you increase acquisition, boost retention, and drive brand loyalty by moving more of the right customers closer to your organization.
Customer relationship management (CRM) is a technology for managing all your company’s relationships and interactions with customers and potential customers. The goal is simple: Improve business relationships. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.
When people talk about CRM, they are usually referring to a CRM system, a tool that helps with contact management, sales management, productivity, and more.
A CRM solution helps you focus on your organization’s relationships with individual people — including customers, service users, colleagues, or suppliers — throughout your lifecycle with them, including finding new customers, winning their business, and providing support and additional services throughout the relationship.
2013 - CSC Customer Intimacy Barometer - Convergence between on and off-line ...CSC
2013 Customer Intimacy Barometer (CSC) - 100+ interviews throughtout Europe - Convergence in Customer Intimacy at the crossroads of online and offline - CSC vision of current evolutions (cross-Verticals)
A Pragmatic Approach to Analyzing Customersmark madsen
The business market is different today than it was 20 years ago when BI got started. We're just beginning to grasp how to work within the new economic and communication models. Companies can't rely solely on financial and operational metrics any more, and need to analyze customer behaviors in more detail.
The big change in analysis is a move from mass market metrics to individualized data, no longer analyzing or managing by averages. The stream of events and observations available from applications today combined with new platforms for collecting and processing data enables (relatively) easy analysis.
Despite this, many companies struggle to analyze customer data. This talk will describe a handful of customer metrics and models that are (relatively) easy to do, yet are often not done. It's often easier to succeed by stringing together a handful of simple techniques rather than applying advanced techniques.
Expect to come away from this session with:
- a little history of customer data use by marketing and how that has changed in the last 10 years.
- the most common behavioral data sources you have available.
- some of the basic questions that often go unanswered, and data that is not assessed in the proper context.
- some basic analyses you can perform.
Moving Beyond Customer Experience Towards Customer EngagementSeymourSloan
In a changing market, we need to look at how customers are managed within businesses. For too long the debate was around experience, which ignored the richness of the opportunities available to really build relatioinships with customers. Rather, we suggest looking at the model from an engagement perspective and understanding how to make the relatioinship multi-way.
Saying you are customer centric is easy, however, delivering a truly outstanding customer experience requires more than marketing fluff. This presentation will explore the topic of Customer Experience and what it means to your customers and your enterprise in today’s competitive landscape.
White paper - Customer Experience TransformationPablo Junco
This white paper highlights the business value of customer experience as a differentiator and explores three critical enablers to guide organizations embarking on the transformation journey.
The Changing Nature of the Customer Relationshipmichellereape
This paper explores considerations on how to harness the power of the customer relationship on the front lines to power our clients’ competitive edge through to their bottom line
2018 customer journey_mapping_research_mycSylke Will
Customer journey mapping is a discipline that allows organisations to step into their customers’ shoes; to gain valuable insights that enable them to improve the customer experience. But how well-adopted is it - and how successful are practitioners at using it? MyCustomer’s 2018 customer journey mapping research report is based on a global survey of 248 customer experience professionals across EMEA, North America and Asia-Pacific. The research looks at the maturity of the practise of customer journey
mapping, exploring how long organisations have been utilising journey
mapping, and how successful they feel they are at it.
The research also examines what trends are emerging in the execution
of customer journey mapping, including who typically has ownership of
the programme and what tools are most commonly used to support it.
We have also attempted to tease out best practices from organisations
whose customer journey mapping programmes are most mature and/or
most successful.
Customer relationship management (CRM) is a technology for managing all your company’s relationships and interactions with customers and potential customers. The goal is simple: Improve business relationships. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.
When people talk about CRM, they are usually referring to a CRM system, a tool that helps with contact management, sales management, productivity, and more.
A CRM solution helps you focus on your organization’s relationships with individual people — including customers, service users, colleagues, or suppliers — throughout your lifecycle with them, including finding new customers, winning their business, and providing support and additional services throughout the relationship.
2013 - CSC Customer Intimacy Barometer - Convergence between on and off-line ...CSC
2013 Customer Intimacy Barometer (CSC) - 100+ interviews throughtout Europe - Convergence in Customer Intimacy at the crossroads of online and offline - CSC vision of current evolutions (cross-Verticals)
A Pragmatic Approach to Analyzing Customersmark madsen
The business market is different today than it was 20 years ago when BI got started. We're just beginning to grasp how to work within the new economic and communication models. Companies can't rely solely on financial and operational metrics any more, and need to analyze customer behaviors in more detail.
The big change in analysis is a move from mass market metrics to individualized data, no longer analyzing or managing by averages. The stream of events and observations available from applications today combined with new platforms for collecting and processing data enables (relatively) easy analysis.
Despite this, many companies struggle to analyze customer data. This talk will describe a handful of customer metrics and models that are (relatively) easy to do, yet are often not done. It's often easier to succeed by stringing together a handful of simple techniques rather than applying advanced techniques.
Expect to come away from this session with:
- a little history of customer data use by marketing and how that has changed in the last 10 years.
- the most common behavioral data sources you have available.
- some of the basic questions that often go unanswered, and data that is not assessed in the proper context.
- some basic analyses you can perform.
Moving Beyond Customer Experience Towards Customer EngagementSeymourSloan
In a changing market, we need to look at how customers are managed within businesses. For too long the debate was around experience, which ignored the richness of the opportunities available to really build relatioinships with customers. Rather, we suggest looking at the model from an engagement perspective and understanding how to make the relatioinship multi-way.
Saying you are customer centric is easy, however, delivering a truly outstanding customer experience requires more than marketing fluff. This presentation will explore the topic of Customer Experience and what it means to your customers and your enterprise in today’s competitive landscape.
White paper - Customer Experience TransformationPablo Junco
This white paper highlights the business value of customer experience as a differentiator and explores three critical enablers to guide organizations embarking on the transformation journey.
The Changing Nature of the Customer Relationshipmichellereape
This paper explores considerations on how to harness the power of the customer relationship on the front lines to power our clients’ competitive edge through to their bottom line
2018 customer journey_mapping_research_mycSylke Will
Customer journey mapping is a discipline that allows organisations to step into their customers’ shoes; to gain valuable insights that enable them to improve the customer experience. But how well-adopted is it - and how successful are practitioners at using it? MyCustomer’s 2018 customer journey mapping research report is based on a global survey of 248 customer experience professionals across EMEA, North America and Asia-Pacific. The research looks at the maturity of the practise of customer journey
mapping, exploring how long organisations have been utilising journey
mapping, and how successful they feel they are at it.
The research also examines what trends are emerging in the execution
of customer journey mapping, including who typically has ownership of
the programme and what tools are most commonly used to support it.
We have also attempted to tease out best practices from organisations
whose customer journey mapping programmes are most mature and/or
most successful.
Disruptive Technologies vs. Customer Experience: What You Must Do NOW to Prepare (Recorded Webinar)
View this CustomerThink thought leadership webinar now, online at: http://goo.gl/sttWI
חמישים טיפים לאפקטיביות פיננסית - חלק א ו-בyanivgi
עת לעשות...
מצגת זו נכתבה מתוך רצון לשתף את הטיפים הכלכליים המוצלחים ביותר שגיליתי לאור האתגרים הכלכליים הרבים שאנו חווים בתקופה זו
גם אם תרמתי בעצה אחת טובה שעזרה לשיפור העתיד שלך יהיה בזה שכרי
רצוי ומומלץ להעביר הלאה!!! - אתה מוזמן לשתף לאנשים שיקרים לך
חלק א' ו-ב' של המצגת: הגדרת מטרות והגעה לתקציב מאוזן
****מומלץ להוריד למחשב ע"מ לראות הערות למימוש****
---------------- עוד בהרחבה --------------------------
במצגת זו אני חושף מתכונים פשוטים ובדוקים לחסכון כסף והשקעתו, שנאספו במשך שנים, מוינו, סוננו ונבדקו
5 שלבים להצלחה:
• הגדר מטרות
• הגעה לתקציב מאוזן
• החזר חובות
• חיסכון ובניית הון עצמי
• מינוף הכסף
המצגת כוללת 4 חלקים
חלק א' ו-ב' של המצגת: הגדרת מטרות והגעה לתקציב מאוזן
חלק ג' של המצגת: חיסכון ובניית הן עצמי
חלק ד' של המצגת: מינוף הכסף
בע"ה עשו והצליחו
Failing to transform your company’s approach into a truly customer-centric business now means that any business is at risk of losing trust, income and market share.
Over the course of the event you will explore key components of a robust and adaptable customer experience strategy that generates a real top line growth through sharp customer focus & engagement.
- Gain strategic insight into a range of industries customer experience strategies – take away transferable insights and knowledge from other industries that is not accessible anywhere else
- Arm yourself with the key tools necessary to transform customer experience so that it is ready adapt to the new technologies and opportunities that will face consumers and affect who they choose to do business with in 2013
- Walk away with the knowledge, tools and solutions needed to immediately improve your customer experience management today
This event is designed to address the fundamental shifts in the industry needed to create customer value and experience to remain competitive in challenging times:
- Designing & Implementing customer experience with a measurable impact
- Predictive customer experience – Leveraging customer data & nfo
- Transforming company culture to deliver a first-class customer experience
- Customer journey design and mapping
- Customer experience measurement tools and techniques
- Customer feedback for customer operations optimisation
Check out www.CustomerExperienceConf.com and join me in March to take the right steps towards customer experience transformation, innovation and excellence. Visit the website to register now www.CustomerExperienceConf.com. Alternatively contact us on +(0) 20 8267 4011 or email events@haymarket.com.
What is Better, Strongly Sustainable, Business?Antony Upward
A 15 minute video of this talk is available on the Strongly Sustainable Business Model Group's youTube Channel: http://youTube.com/ssBusinessModelTV at http://youtu.be/vfG_RclyaWA.
In these slides Antony Upward, Sustainability Business Architect, introduces sustainability, weak sustainability and strong sustainability and then discussed how this relates to creating better businesses.
As usual, recommended downloading the presentation and viewing in slideshow mode with the speakers notes handy
If you'd like to stay in touch with our work on Strongly Sustainable Business Models then please
- Watch our ~3 minute introduction - http://about.SSBMG.com
- Watch our other videos - http://youTube.com/ssBusinessModelTV
- Like our facebook page - https://www.facebook.com/StronglySustainableBusinessModels
- Join the linkedin group: http://forum.SSBMG.com
- Give us your ideas via our survey (http://survey.SSBMG.com) or just sign-up for email updates (http://signup.SSBMG.com)
- Visit our website: http://www.SSBMG.com
Strongly sustainable business models v1.2ssAntony Upward
A presentation made to the Canadian Association of Management Consultants Energy & Climate Change Special Interest Group April 23, 2013, Toronto, Canada.
Slideshare appears to mess up some slides; also lots of speakers notes and builds (which aid comprehension) are only available by downloading.
An unedited recording of this presentation is available upon request.
How can market leaders expand total market and defend market share?Sameer Mathur
The slide presents different strategies Market leaders like Microsoft should adopt to either expand or defend their position in the market.
Submitted by: Prakhar Singh
What are the pros and cons of database marketing ? Sameer Mathur
Based on the chapters from A South Asian Perspective by Philip Kotler
Marketers maintain database of customers.
Learn how marketers use the customer database to maximize their profit and its pros and cons.
To differentiate customer experience, do something your competitors aren't doing in customer experience management. Re-examine how you're listening to customers, viewing customers' expectations, and focusing your employees and business rituals on customers. See http://ClearActionCX.com Contact us at OptimizeCX@ClearActionCX.com
What is the Difference Between Customer Experience and Customer Service?
Customer service is the direct one-to-one support that you offer to customers before, during, and after they purchase a product or service, and represents one small part of the full customer journey.
By contrast, customer experience encompasses all the interactions that they have with your brand.
One measure that can transform your marketing strategyJeremy Williams
In today's digital world, performance metrics are essential to understand the efficiency and effectiveness of your marketing budget. However, they assume something about the customer that can have unintended impact on the business' profitability. This deck outlines how you can flip this to your advantage by overlaying one important measure.
8 Top Digital Marketing Metrics To TrackBMN Infotech
n the digital age, marketing is defined differently than it was in the past. It is no longer limited to light branding and nebulous awareness campaigns.
Notes
13 Teams
__
Average talent teams that get along well with each other are more productive than gifted teams that don’t get along. It doesn’t matter how well a team with low emotional intelligence is in control of the numbers. They can’t even decide what to try to do.
14 Stress
___
Difficulties at work and in our relationships put us under stress. Stress makes it difficult for us to find solutions to problems. When we can’t find solutions to problems, we get more stressed. To get rid of this dead end, we need to know how to manage our stressful situations.
15 Marriage
____
The secret of long and happy marriages is sincerity in your feelings. If your marriage was not built on this basis of intimacy from the very beginning, it will begin to crack over the years. Even small problems become unsolvable. You have to be emotionally open at the beginning of the road.
16 Leadership
______
Leadership does not mean dominance. Leading your colleagues to a common goal and making them believe in the reality of this purpose. Successful leaders are those who can keep their team’s motivation alive for many years. You have to make them desire the work to be done.
17. Emotions Are All Normal
___
Anger, hatred, love, happiness… You can understand when and under what circumstances these feelings will emerge by following yourself. You may have these feelings depending on how you interpret the events you encounter. The important thing is to be able to react independently of your feelings. You may find yourself making promises that you cannot keep because you are happy, or you may resort to violence when you are angry.
18/ Being able to Express Your Emotions
____
Not everyone’s level of empathy can be very good. You may be in a difficult situation immediately. You may feel bad, but people may not understand it. In these situations, you may need to express your feelings a little more directly.
19/You Are Not Your Emotions
______
Keep doing what you need to do, no matter how you feel. Success is achieved by people who cannot give up no matter what their feelings and thoughts are. Don’t let your feelings affect your actions.
20/ Timing
__
As soon as you feel a different emotion, try to think before you act. Because emotional intelligence moves faster than rational intelligence, it can make you act irrationally and make you say any unnecessary words.
Thanks for reading
~ 𝗧𝗼𝗻𝗴𝘀𝗮 𝗚𝘂𝘆
Book:- https://amzn.to/3XsVTz2.
Best-in-class companies build customer loyalty by creating a customer-centric culture and by consistently exceeding customer expectations. They understand that customer loyalty is not just about offering competitive prices and products; it's also about building relationships with customers and making them feel valued.
As a business owner, have you ever thought about what could be better than gaining a new customer? You might be wondering if anything could be better than this.
Well, the answer is customer retention.
Gaining new customers is alluring but retaining customers comes at a lower cost and has the potential to provide a higher return on investments.
CRM, subject notes as per the syllabus of Osmania university, this notes are very useful for the students pursuing any subject of customer relationship management courses, this can also be used by practitioners in the file of service sector
This webinar explores employee experience and the future of work, including how future-focused brands align brand and culture to better engage—and serve—their people
This webinar explores key “lessons learned” about the impact of emotion on the customer journey, along with tools and techniques for brands to understand, measure, and improve it.
Learn how to quantify the value of customer experience, proving value and ROI in terms like revenue, wallet share, and cost reduction that business leaders understand and can embrace.
Learn how your organization can deliver predictable and measurable customer experience (CX) and return on investment (ROI) outcomes at enterprise scale.
Learn how to overcome the challenges organizations face when it comes to driving action from journey maps and understand how to use the outside-in customer (and employee, and partner, and...) journey maps you have created.
There is a territory that exists in the borderlines between you and your customers. It’s a place where opportunity lives, if only you know where to look….
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
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RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
The Parable of the Pipeline a book every new businessman or business student ...
Proving ROI on Customer Experience | McorpCX
1. Proving ROI on Customer Experience
Customer experience improvement can—and does—
drive bottom-line results. So how can we prove that
making customers happier can make you and your
shareholders happier too?
A deep understanding
of touchpoints can
improve customer
experiences, strengthen
relationships and boost
your bottom line.
White Paper
2. Key Issues:
1. While customer experience
is widely recognized as critical
for competitive success, most
companies can’t or don’t
measure it.
2. Without measurement, it’s
difficult to determine value.
And it’s difficult to justify
investments in customer
experience if you can’t
determine value.
3. There are several ways that
forward-looking organizations
can analyze customer
experience improvements
through a return-on-investment
perspective.
Overview: Customer experience
improvements can drive significant ROI
Our four “experience investment” lenses can help
you plan, measure, and improve interactions with
your customers and model ROI before you invest.
Even before the “Four Ps” of marketing
(Product, Price, Place, and Promotion)
expanded in the 1980s to reflect the shift
to a knowledge-based economy (adding
People, Process, and Physical Evidence),
there was widespread recognition that
how someone feels about an organization
is driven largely by how they feel they’ve
been treated.
Introduced in the late 1990s, the concept
of “customer experience” is the perfect
framework to begin thinking about ways
to plan, measure, and improve how
customers interact with companies.
This is important, because an organization’s
ability to cost effectively deliver an
experience that positively differentiates
it from the competition in the eyes of its
customers has multiple benefits. These
benefits include, but aren’t limited to,
increased top- and bottom-line revenue
through increased customer spending,
greater loyalty, and reduced costs for
service and acquisition.
What’s not to love? From top-line revenue
to bottom-line savings, let’s start by
counting the ways....
3. Proving ROI on Customer Experience | 3McorpCX | www.mcorp.cx
Customer experience: The next
competitive battleground
There’s no argument that understanding
customer experience is critical.In
fact, 95% of senior business leaders
identify customer experience as the next
competitive battleground.1
At the same
time, over half state that lack of customer
experience strategy is a significant obstacle
to improving customer experience.2
ROI on improvements to customer
experience can be elusive.Oftentimes, the
discipline and data required to measure
and understand what works is short-cut,
and investments are made without a clear
understanding of ways to measure return.
A typical organizational perspective—
usually held by marketing leadership—
tends to be framed with talk about “soft”
metrics such as satisfaction and brand
preference. Another—the financial view,
more common in finance and operations
groups—is rooted in profit and loss,
short-term expense planning and cost
containment.
That’s why assessment is so critical. By
looking at experience through the lens of
ROI, organizations have the data they need
to reach the consensus needed to drive
the top-down initiatives critical for driving
customer experience transformation.
Experiences are defined by those
places where companies interact with
and “touch” their customers.
These places are touchpoints.
Measuring customer experience
At MCorp Consulting, we call this
assessment process Touchpoint Mapping®.
.
Essentially, we track aspects of the
experiential “journey” your customers
take through the Customer Relationship
Lifecycle unique to your business, and the
touchpoints and interactions encountered
along the way.
Assessments are typically done
through a variety of research and
analytical methodologies, including
interviews, surveys, and driver analysis
to link experience to actual and desired
behaviors.
ROI models are developed and validated
through assessment, data analytics, and
business case development activities.
Together, these help close the loop with
proof of links to desired business results
prior to enterprise-wide implementation.
This level of rigor also means that the
process has the potential to be both
involved and resource intensive.
So how can you prove ROI before you
start? While by no means exhaustive,
these “ROI Lenses” are all examples of
ways you can understand and measure
the real-world ROI of customer experience.
Looking at your organization this way will
help you speak the “language of ROI” and
should give you ample ammunition to
begin thinking about—and planning—your
own experience improvements.
4. Proving ROI on Customer Experience | 4McorpCX | www.mcorp.cx
Experience ROI Lens No. 1:
Increased retention and
lower churn
Increases in loyalty (and reductions in
churn) are some of the most basic ROI
models you can use. Armed with loyalty
and purchase-behavior scores and
Customer Lifetime Value to measure what
a customer is worth, you can—literally—
drive millions in savings for even a small to
mid-size company.
Multiple studies have proven the value of
loyalty, with benefits including customers
who spend more, cost less to service, and
buy more over time. Loyalty is a proven
(and widely accepted) indicator of future
revenue growth. Overall, the goals are both
to increase retention, and to reduce the
cost of keeping the customer.
These are but a few of the ways
that experience improvements can
drive loyalty:
ƒƒ Establish a line of sight between
customer experience and loyalty
As a result, you can directly affect
customer value.
ƒƒ Pinpoint the individual touchpoints
that affect loyalty Then invest in those
that improve it—and eliminate or modify
those that don’t.
ƒƒ Improve “post-purchase” experience
For some companies, a 5% reduction
in churn can translate to a 25–85%
increase in annual profits.3
ƒƒ Implement a customer experience
feedback loop This will allow you to
deal with complaints more effectively,
and improve delivery overall. Oracle
reports that brands can lose as much
as 20% of revenue from poor customer
experience.4
In a typical $40M Retail
Company, this could positively affect the
average $8M at risk from customers
who have had a poor customer
experience.
Future revenue is affected—either positively
or negatively—at every single touchpoint
(or interaction) between your organization
and your customers.
5. Proving ROI on Customer Experience | 5McorpCX | www.mcorp.cx
Experience ROI Lens No. 2:
Reduced cost of delivery
Delivery cost can be reduced in several
areas, including functional tasks, hard
costs, and overhead. Ranging from
reductions in marketing expense (or
re-allocation to more effective channels)
to reductions in customer service staff
or call center overhead, the potential is
significant.
A few examples of the tangible benefits
MCorp clients have enjoyed from reducing
delivery costs can include:
ƒƒ Eliminate a redundant marketing
tactic or program that is both costly and
ineffective. For one client, eliminating
a single printed touchpoint saved
millions—over $500,000 in the first year
from postage alone. Or eliminate an
entire series of programs that don’t drive
results.
ƒƒ Reduce the overall cost of touchpoint
delivery By eliminating nearly 40% of
all touchpoints for another client, we
were able to drive up satisfaction and
customer re-purchase while significantly
reducing cost.
ƒƒ Migrate customer-facing tasks from
the call center to the web Adding the
right functionality to your website could
have the direct effect of reduced overall
call center volume, decreased handle
time, and increased first call resolution.
Experience ROI Lens No. 3:
Faster movement through your
Customer Relationship Lifecycle
The potential for ROI in this area is huge.
By understanding where experience
can be improved in the “pre-purchase”
stage, you can boost your pipeline and
conversions by 20% or more. Improving
experience in the “post-purchase” stage
boosts satisfaction, loyalty and advocacy.
Ways to improve the Relationship Lifecycle
progression include:
ƒƒ Seeing which marketing channels are
the most/least effective at driving brand
awareness By shifting investment to
the most effective channels, you boost
awareness without increasing costs.
ƒƒ Understanding where marketing is not
driving desired customer behavior
to boost consideration The more
prospects actively considering your
product or service, the more you can
close.
ƒƒ Identifying (and removing) dissatisfiers
to increase post-purchase satisfaction
The less dissatisfied customers are
immediately after purchase, the
greater your opportunity to drive
loyalty among them.
ƒƒ Learning which individual touchpoints
are the most effective at driving
customer advocacy (or influencing
prospects) to boost positive Word-of-Mouth.
On average, it takes about 5 positive
referrals to create a new customer.
Example of Return on Customer Experience Efforts:
Improving Experience Boosts Revenue and Reduces Costs
Background: This mid-size financial services business has average gross revenue
of $7,000 per customer and keeps them for 3.5 years. Gross margins are 20%.
They have a close rate of 20%. Cost per qualified lead is $225. Examples are
based on 15% improvements resulting from customer experience management
activities.
Lens 1: Increased retention and lower churn Improved retention (+0.525 years)
results in additional per-customer revenue of $3,675, driving nearly $3.7 million in
additional lifetime revenue per 1,000 customers.
Lens 2: Reduced cost of delivery Reducing the cost of serving customers by 15%
yields per-customer savings of $840 per year ($5,600 vs. $4,760). This translates
to $2.9 million in savings over the average lifetime of 1,000 customers.
Lens 3: Faster movement through your Customer Relationship Lifecycle
Improving close rates drops cost-per close from $1,125 to $978, generating annual
savings of $147,000 (and more customers) for every 1,000 qualified leads.
Lens 4: Increased Customer Lifetime Value (CLV) Accounting for increased
lifetime revenue, lower lifetime costs—as well as lower closing costs—you see a
higher CLV that increases net revenue by $4.2 million per 1,000 customers.
6. Proving ROI on Customer Experience | 6McorpCX | www.mcorp.cx
Experience ROI Lens No. 4:
Increased Customer Lifetime
Value
Most organizations have a startling
lack of knowledge when it comes to the
economics of individual customers.
One study states that nearly 85% of
executives lack an understanding
of customer acquisition or resolving
customer complaints5
, much less
Customer Lifetime Value (CLV).
Yet for virtually all organizations, enterprise
value springs entirely from their customers.
This is driven by three things:
1. The amount customers spend on any
given product or service;
2. The amount of this budget that they
spend with you; and
3. What they are willing to pay for your
product or service.
By looking at experience improvement as
a way to boost CLV, you’ll be able to look
at experience based on actual customer
behavior versus intention.
Some of the benefits of looking at
experience improvements through this
lens can lead directly to increased CLV by:
ƒƒ Reducing the cost of sales leads
By driving down the initial cost of getting
customers (lowering cost through more
effective marketing or sales touchpoints)
you boost overall customer value.
ƒƒ Lowering service costs By decreasing
the cost of servicing customers (through
the web, call center, in-person, or
other touchpoints and channels) you
increase CLV.
ƒƒ Reduced cost of acquisition
By generating more leads at a lower
per-lead cost, you indirectly affect the
sales metric. If the cost of closing a
deal can be reduced as well, you
benefit twice over.
ƒƒ More efficient contracts, environments,
sales pitches, and more—all designed
around the experience of turning
prospects into customers—reduce costs
and boost customer value.
ƒƒ Increased purchase activity A more
efficient experience can be targeted
towards getting existing customers either
to spend more at each purchase, or to
purchase more often. The result? You
guessed it. Increases in overall revenue
(and value) per customer.
ƒƒ Improved retention As discussed in
Experience ROI Lens No. 1, increases
in loyalty boost retention. The longer a
profitable customer stays with you, the
greater their lifetime value.
8. McorpCX is a leading customer experience
services company. For more than a decade,
our blend of strategic thinking and design
innovation has helped companies—from
fast-growth market leaders to the Fortune
100—transform products, services, customer
experiences, and internal processes in
exciting and profitable ways.
McorpCX
1-866-526-2655
www.mcorp.cx