CO2 Blast Cap - Here Comes CX!
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Here Comes CX! Preparing for Impact.Steven Keith, Sarah Wechsberg, CX Pilots
A LITTLE ABOUT CX PILOTSWe are Customer Experience (CX) AdvisorsFor 25 years, weve been showing companies of all types and sizes how to make more money by changing the way they manage customer and employee relationships.
CUSTOMER EXPERIENCEWhat is it? Why should I care? Isnt this just customer service?
As an owner, how often do you wonder:Why arent more people calling us? How well do we really know our customers needs? Why are we facing constant revenue and margin pressure? Are we retaining as many customers as we can? Is the new service were launching going to resonate with our customers? How well are we responding to our competition? Are our customers expecting more from usand not saying anything?Are my employees skating by or are they really engaged in their work?
As fundamental as these questions sound, fewer than 10% of business owners know that the answers involve CX solutions. WHAT IS CX?
The problem is...few business owners know what CX is and what it can accomplish for them. WHAT IS CX?
Customer experience (CX) occurs every time a customer interacts with a companys products, services, employees or devicesCX is found in processes, rules, business goals, marketing content, sales/service calls, technology/CRMs, invoicing/billing, and customer supportWHAT IS CX?
CX is how leading companies drive significant, measurable ROI: Greater top-line revenue of 18% - 24% annually Overall Customer Satisfaction up 400% (from 21% to 79%)16%-25% decrease in operating costs Boosts employee loyalty (reduces staff churn) by over 200% 150% better Customer Experience in target journey stages Reduce time-to-market for new services from 90 days to 7WHY SHOULD I CARE?
WHY SHOULD I CARE?Lets Look at Net Return on Customer Experience For Service-Based Companies$250K /yr$500K /yr$1million /yr$5 million /yr$15 K in CX$25,000$50,000$25 K in CX$37,500$75,000$150,000$50 K in CX$100,000$200,000$1,000,000$100 K in CX$250,000$1,250,000
Annual RevenueInvestmentIf youre at $1 million in annual revenue and you invest $50K in executing the right CX activities, youll see a $200K - $250K return on that investment.
1) SDL, Qmatic, Forrester; 2) . Harris Interactive, Customer Experience Impact Report 3) HBR, McKinsey, ForresterWHY SHOULD I CARE?
Aberdeen Group: The Customer Experience Value Chain: Paving The Way to Advocacy, October 2016WHY SHOULD I CARE?
Customer Service is responsibility-based and generally reactive. Waiting for a customer need/issue/complaint and then responding to it. Customer experience (CX) is opportunity-based and generally proactive. Equipping your employees to better anticipate customers needs and offering it to them before its ever an issue. It is understanding all the actions that will make your customer refer you to a friend and building those actions all into a holistic value-delivery ecosystem. ISNT THIS JUST CUSTOMER SERVICE ?
CONVERSATION STARTERShow of hands, who here has tried an opportunity-based, proactive customer experience project? What happened?
PRACTICAL ACTIONSHow do I do this? What do I do first? What should I do next.
HOW DO I DO CX?
PRACTICAL ACTIONSAre You *#$%@* Kidding Me?!!That works for a big company. I have 18 employees!
Heres the deal: CX always fails when you try to do it the way someone else did it. Thats like taking someone elses prescription! You have to develop and implement YOUR best strategy.
HOW DO I DO CX?
HOW DO I DO CX?
HOW DO I DO CX?
WHAT DO YOU MEAN BY JOURNEY & CONTENT?Content is often the vehicle that value drives to your customer.Journey is the route that content follows to get there.
IMMEDIATE ACTIONS: WHAT CX CAN I DO TOMORROW WITH $0.00 ?Matrix customers with products/services. Find gaps in who is/isnt buying. Find patterns. Over the past 5 years, which customers have gone away? Why?Design both an existing and past customer surveys. Launch Survey and being learning how they see/articulate value.Map out your most common customer journey. What guides their decisions to hire you?Start a blog and write one article about the 10 things your customers dont know about your industry that affects their household.Ask each employee to come up with 5 ideas to make their customers more successful.
Think of CX as a fancy word for the work you do to better anticipate your customers next move. When you do the right CX activities, right, you deliver more value to your customer. Theyll feel it! Youll notice when they do.CONCLUSION
Here Comes CX! Preparing for Impact.
Sarah Wechsberg, Partner, CX Pilots
Steven Keith, Founder, CX Pilots