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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) Advisors
For 25 years, we’ve 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?
Isn’t this just customer service?
As an owner, how often do you wonder:“Why aren’t 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 we’re launching going to resonate with our customers?”
“How well are we responding to our competition?”
“Are our customers expecting more from us…and 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 company’s products, services, employees or
devices…
CX is found in processes, rules, business goals, marketing content, sales/service calls, technology/CRMs,
invoicing/billing, and customer support
WHAT 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 7
WHY SHOULD I CARE?
WHY SHOULD I CARE?Let’s 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 Revenue
Inve
stm
ent
If you’re at $1 million in annual revenue and you invest $50K in executing the right CX activities, you’ll see a $200K - $250K return on that investment.
TITLE
1) SDL, Qmatic, Forrester; 2) . Harris Interactive, Customer Experience Impact Report 3) HBR, McKinsey, Forrester
WHY SHOULD I CARE?
Aberdeen Group: The Customer Experience Value Chain: Paving The Way to Advocacy, October 2016
WHY SHOULD I CARE?
Customer Service is responsibility-based and generally reactive. Waiting for a customer need/issue/complaint and then responding to it.
Customer experience (CX) is opportunity-based and generally proactive. Equipping your employees to better anticipate customers’ needs and offering it to them before it’s ever an issue. It is understanding all the actions that will make your customer refer you to a friend and building those actions all into a holistic value-delivery ecosystem.
ISN’T THIS JUST CUSTOMER SERVICE ?
CONVERSATION STARTERShow of hands, who here has tried an opportunity-based, proactive
customer experience project?
What happened?
PRACTICAL ACTIONSHow do I do this?
What do I do first? What should I do next.
HOW DO I ‘DO’ CX?
PRACTICAL ACTIONSAre You *#$%@* Kidding Me?!!
That works for a big company. I have 18 employees!
Here’s the deal:
CX always fails when you try to do it the way someone else did it.
That’s like taking someone else’s 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 ?
1. Matrix customers with products/services. Find gaps in who is/isn’t buying. Find patterns.
2. Over the past 5 years, which customers have gone away? Why?
3. Design both an existing and past customer surveys. Launch Survey and being learning how they see/articulate value.
4. Map out your most common customer journey. What guides their decisions to hire you?
5. Start a blog and write one article about the 10 things your customers don’t know about your industry that affects their household.
6. 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 customer’s next move. When you do the right CX activities, right, you
deliver more value to your customer. They’ll feel it!
You’ll notice when they do.
CONCLUSION
QUESTIONS?
Here Comes CX! Preparing for Impact.
Sarah Wechsberg, Partner, CX [email protected]
linkedin.com/in/sarahwechsberg
@cx_pilots
Steven Keith, Founder, CX [email protected]
linkedin.com/in/stevenkeith
@cx_pilots
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