Customer experience 360

Return On Experience The insights and research that show tangible business benefit to good customer experience. April 2014

WHY ARE WE ALL TALKING ABOUT EXPERIENCE?

Because things have changed…

Macro trends are driving the world of experiences

Market Rules are Changing

COMPETITIVE MOMENTUM

Everything is a Touchpoint

CHANNEL UBIQUITY

Expectations are everything

CONSUMER

EXPECATIONS

Dialogues & Collaborations

SOCIAL

ENGAGEMENT

DO WHAT YOU SAY

The way we see it…

Say something

Say it loud

Say it well

Say it often

What you do…

How you act…

What they

experience…

matters more

than what you say

In today’s world, the experience is the brand.

A brand promise is worthless, if the

brand’s experience doesn’t deliver.

SO IS IT A NICE TO HAVE OR A SMART BUSINESS MOVE?

9

While they spend less, Growth follows ‘verb’ brands

The Dollars And Sense Behind Experience Optimization

According to Forrester, companies that continuously move

higher in their customer experience index scoring will see:

+ Increased revenue due to word of mouth: Incremental sales from positive word

of mouth can range from $2 million for investment firms to $176 million for airlines.

+ Reduction in churn, leading to improvements in revenue: Retained revenue

ranges from $30 million for investment firms to $1.7 billion for wireless providers.

+ Increased revenue thanks to incremental purchases of loyal customers:

The revenue benefit can range from a low of $39 million for consumer electronics

manufacturers to more than $1.3 billion for wireless service providers.

Helen Graney (Jack Morton Worldwide)

Consumers value experience


agree (60% strongly) overall experience is #1 factor in whether they purchase a product or service


say previous unique experience is important (62% very important) when choosing brands to use in the future.


agree (44% strongly) they’d pay more for a product or service if they knew they’d have a unique experience with that brand.


But, there is a gap

agree that the experiences they’ve actually had with brands have been extremely or very unique.


87% 26% Previous unique experience is important to future purchase

My past experiences with brands have been unique

VS

THAT’S SOME GAP


78% 26% I’d pay more for a unique experience

My past experiences with brands have been unique

VS

AGAIN THAT’S SOME GAP


Marketers value experience

65% of APJ marketers believe that a consistent and positive experience helps distinguish and differentiate their brand.

57% believe it helps retain and monetise customers

How did customer experience

impact revenue?


Yet we also see the gap

SO WHY IS IT HARD?


Experience gaps

What Is Holding Back the Customer Experience?

+ Operational structure and processes (38 percent)

+ Ability to customize and individualize (31 percent)

+ Having engaging and empowered employees (31 percent)


Because culture shifts are not easy

AND IT NEEDS A HERO

2 Customer Intimacy

1 Operational Excellence

3 Product

Leadership

1. Value within price, quality and convenience

2. Meets my needs, and I will pay a premium

3. The latest thing

Customers and value disciplines

Net Promoter Score Does Not Equal Net Promoter System

Frontline Activation

Prioritised improvements; persistent cultural values; daily action

Solid Analytics

The Eight Net Promoter Processes

1. Reliable Metric Sort Customers, understand

competitive position

2. Loyalty Economics Support high-quality cost-benefits

estimates

3. Root Cause Data and processes to draw insights

that unlock action

4. Closed Loop Enhance relationships through true

dialogue

5. Learning Coaching, training, experimentation

6. Action Individual, team, function, enterprise

7. Robust Operational Infrastructure

8. Leadership and Communication


How can you use these insights to shape a better experience?

#1 BACK TO BASICS

Invite participation

Build around users

Inspire sharing

Create community

Add value

Experience principles

# 2 CHANGE YOUR TOOLKIT

To manage experiences, we need new brand tools.

How does your brand behave

on Twitter?

SOCIAL MEDIA PHRASEBOOK

How do you activate your brand with new partners?

PARTNERSHIP PLAYBOOK

What makes your propriety event truly yours?

EXPERIENCE DEFINITION

Why would someone co-crate something

with you?

ENGAGEMENT PLATFORM

How do you create social currency? Why do they talk

about you?

ENGAGEMENT PLATFORM

How does your brand behave differently across

global cultures?

GLOBAL EXPERIENCE PLAYBOOK

Is every employee at every level embodying the brand?

EXPERIENCE TRAINING

BOOTCAMP

As you stop messaging and start engaging, does your

team have the skills?

EXPERIENCE TRAINING

BOOTCAMP

# 3 LOOK AT WHAT CONNECTS YOU


So you need to get under the hood of what the whole experience looks like


20% of surveyed marketers are planning to map their customer experience.

48% have not.


Map the Experience Discovery Experience

How do I learn about your brand? How do you market?

Shopping Experience*

What happens when I’m in store/in market?

Digital Experience

How do I interact?

Product Experience

Does the product /service exceed expectations?

Customer Experience*

How am I engaged after I commit? How do you treat me?

Community Experience

How do I connect with others around your brand?

#4 LISTEN


56% feel they have the technologies and platforms to listen.

11% of surveyed marketers are satisfied with their company’s ability to listen and respond.


That’s another gap


75% of marketers use their websites to broadcast messages.

53% use these sites to listen.


The channels of communication have changed

47% use call or contact centers

45% head to in-store locations

37% are turning to social media

28% will email

Only 14% will call corporate or sales directly

Only 1% send commentary or messages via traditional mail

#5 PEOPLE AS EXPERIENCE DRIVERS

#6 MAKE IT MATTER

Rather than being an afterthought, elevate experiences to a strategic asset.

+ Strategically defining the experience

created by a brand

+ Expressly articulating the qualities and

characteristics of appropriate brand behaviours

+ Managing, auditing and refining experiences

as critical brand expressions

+ Aligning all actions and touchpoints

with this strategic platform

#1 Back to basics

#2 Change your toolkit

#3 Look at what connects you

#4 Listen

#5 People as experience drivers

#6 Make it matter

Thank you

Helen Graney

Managing Director

02 8231 4565

[email protected]

Customer experience 360

Marketing

Transcript of Customer experience 360