Tns Customer code _ webcast mar2014
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This document discusses the importance of understanding customer experience and the factors that influence customer behavior. It notes that customers now have more information, choices, and control in relationships with companies. To be successful, companies need to understand both individual customer contexts and their competitive context. They also must understand the link between customer experiences, relationship strength, and business outcomes like spend, loyalty, and word-of-mouth. The document advocates using customer insights to focus investments and resources on optimizing the customer experience and balancing relationship strength with business returns.
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Tns Customer code _ webcast mar2014
- 1. The Customer Code Customer Experience © TNS 2014 A live TNS webcast
- 2. The shift Customer Experience © TNS 2014
- 3. Be prepared “Customers are bypassing existing business models in favour of their unique experience and requirements, especially with instant access to peer reviews, competitor offerings, and pricing… With the advent of social media and transparency, customers control this relationship.” Customer Experience © TNS 2014 control this relationship.” Jonathan Becher Chief Marketing Officer, SAP
- 4. The new world order Less control Less share of voice Less loyalty More information More transparency Customer Experience © TNS 2014 Less profit More choice
- 5. Customer experiences are complex beasts Customer Experience © TNS 2014
- 6. Many moving parts for a few sustainable memories Responsiveness Point of sales Service FAST DELIVERY Accuracy of invoice Value for money After-salesservice Call centre hours Shop hours Company newsletter Internet news Exciting Social media Information materials Word-of-mouth Reliable Customer Experience © TNS 2014 Product quality Responsiveness FAST DELIVERY ONLINE REVIEWS Reliable Order processAccuracy of delivery Value for money Friendliness Availability Rating sites Care about me Competence Complaint handling Trust Magazine articles Newspaper articles Exciting Companywebsite Blogging Complaint resolution
- 7. Unlocking your Customer Code Customer Experience © TNS 2014
- 8. Do you know what makes your customers stay or go? Customer Experience © TNS 2014 customers stay or go?
- 9. Customers love IKEA Customer Experience © TNS 2014 775 million visits in 2013 $29.2 billion turnover 345 stores in 42 countries and growing
- 10. A Saturday morning at IKEA… Checkout Where are we? Lost! I think I found myself Customer Experience © TNS 2014 Entrance are we?
- 11. … can be exhausting… but a memorable experience… Customer Experience © TNS 2014
- 12. …and despite all the challenges, I will go back Customer Experience © TNS 2014
- 13. A world of insight 40,000 interviews Customer Experience © TNS 2014 20 markets Qualitative interviews with CMOs
- 14. The gap Customer Experience © TNS 2014 The gap
- 15. Performance is necessary, but not sufficient Performance 82 TRI*M Index 67 Performance TRI*M Index Customer Experience © TNS 2014 67 Preference
- 16. Mind the gap 69 TRI*M Index Performance 80 22 Customer Experience © TNS 2014 Source: TNS customer insight surveys 2013/2014 58Preference
- 17. 80 40 The performance to preference gap 21 32 35 Customer Experience © TNS 2014 40 0 The market leader In trouble The challenger Source: TNS customer insight surveys 2013/2014 – a Western European service provider market Performance Preference
- 18. The context Customer Experience © TNS 2014 18
- 19. Context shapes how we perceive the world Customer Experience © TNS 2014
- 20. Everything looks good! You are not alone Customer Experience © TNS 2014 Strong relationship Moderate relationship Weak relationship 14% 46% 40% 71 TRI*M Source: TNS Customer Insight Surveys 2013/2014 – A retail bank in a BRIC market
- 21. 71% The bank operates in a fiercely competitive market 26% Customer Experience © TNS 2014 71%Consider using other banks Source: TNS customer insight surveys 2013/2014 – a retail bank in a BRIC market 26%Business at risk
- 22. Does everything look good? Customer Experience © TNS 2014 Strong relationship Moderate relationship Weak relationship 14% 46% 40% 71 TRI*M Source: TNS customer insight surveys 2013/2014 – a retail bank in a BRIC market
- 23. Even a strong relationship is no guarantee for exclusive loyalty My bank is great – but there are others out there who are equally good – so why not try a different one? I don‘t like my bank – but currently I see no real alternative Customer Experience © TNS 2014 Strong relationship Moderate relationship Weak relationship Low Medium 14% 46% 40% 71 TRI*M Projected risk to business: High
- 24. Customers are individuals – not averages Customer Experience © TNS 2014 not averages
- 25. Individual context can trigger a change in customer behaviour At risk Customer Experience © TNS 2014 70% of retail banking customers say switching is inconvenient But moving house almost doubles the probability to shift share of spend Source: TNS customer insight surveys 2013/2014
- 26. This is what happens when the honeymoon is over – understanding different stages in the customer lifecycle Three months Six months Twelve months Eighteen months Constant performance Customer Experience © TNS 2014 Source: TNS Customer Insight Surveys 2013/2014 – Retail bank in a BRIC market months months months Eighteen months
- 27. Connecting the dots “Like most organisations we have a combination of market data and of operational data and the challenge is bringing different views together in a way that can be actioned on. Our big priority is to get actionable insights for front line teams in customer service and sales.” Julie Woods-Moss Chief Marketing Officer, Tata Communications Customer Experience © TNS 2014 Chief Marketing Officer, Tata Communications
- 28. Where to focus your investments Customer Experience © TNS 2014 investments
- 29. Companies need to understand the impact in terms of gain or loss Cloud services Network coverage Innovative products Processes Customer Experience © TNS 2014 … to make decisions on where to improve organisational performance Point of sales Emotional affinity Staff
- 30. Threattorelationship Where to focus resources to deliver the optimal customer experience? Network coverage Innovative products Customer Experience © TNS 2014 Threattorelationship 58 Gain in relationship Cloud services
- 31. Customers are unique Data integration is key The principles underpinning our approach Best is not always right Context matters Customer Experience © TNS 2014 is key
- 32. The optimal return Customer Experience © TNS 2014 The optimal return
- 33. Striking the balance – Return on relationship Sales(US$) 600 700 800 Optimal balance Sales: + 10% Strength of relationship + 10 points Sales: + 1.5% Strength of relationship + 10 points Customer Experience © TNS 2014 -50 -25 0 25 50 75 100 125 150 Sales(US$) Strength of relationship 200 300 400 500
- 34. Crack the Customer Code – Make an impact – Achieve the optimal return Individual context Competitive context Relationship strength Spend more or less? Stay or go? Customer experiences Product Process Company performance Customer behaviour Customer Experience © TNS 2014 Speak positively or negatively? more or less?experiences across… People Emotion
- 35. We help you make winning customer decisions Customer Experience © TNS 2014 Find out more: www.tnsglobal.com/customer-code For further info: Cristina Colombo Customer Experience and Employee Engagement Practice Lead cristina.colombo@tnsglobal.com