7 steps to customer experience excellence with analytics
DESCRIPTION
As competition and cost pressures intensify, organisations of all sizes and across all industries recognise the need to improve the experiences their customers have with them at all points throughout the customer journey. Businesses understand that they need to maximise the opportunities that come from the interactions they have with their customers, by helping predict a customer’s needs and wants, offer personalised recommendations, reward loyalty and deal with issues in a proactive and timely manner – and analytics plays an important role in achieving these aims. The rewards for getting it right are substantial: improving the customer experience can help drive sales, retain high value customers, increase business from existing customers and improve responsiveness. But that’s not to say it’s an easy task. This slide deck is an introduction to a full treatment we'll be giving at a free webinar on Nov 6, 2013. See http://www.mwdadvisors.com/ec/customerexperienceexcellence for more details!TRANSCRIPT
a d v i s o r smwd
helping you create business improvement from IT investment
Intro : 7 steps to customer experience excellence with analytics
Helena SchwenkPrincipal Analyst
What we’ll cover
• The customer experience challenge• How analytics can make an impact• The seven steps to customer experience
excellence using analytics• Where do you go from here?
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Want the full presentation? See the last slide for how you can get all the content on a free webinar
The customer experience is today’s competitive battleground
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“The customer experience is bigger than customer service ... It is the full end to end experience . It starts when you first hear about Amazon from a friend and ends when you get the package in the mail & open it”.Jeff Bezos – CEO Amazon
Everyone is facing large-scale business environment change
GlobalisationCustomers, partners, suppliers – and competition“Connectedness” is driving sophisticated value chains
TransparencyIndustry regulations, consumer pressure and competition driving openness
Smart, connected marketsEcosystem participants – particularly customers – see the “online world” as the natural place to look for information, services
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Great customer experiences require a consistent and integrated multi channel customer journey
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Research Consider Purchase Use/Evaluate
Maintain/Advocate
Not all customers are equal in terms of needs as well as value to the business
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Delivering great customer experiences
Driving incremental value atright cost for the business
Analytics plays two distinct roles in supporting end-to-end customer experiences
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Shaping and informing
interactions
Measuring and optimising
performance
Baseline
OptimiseMeasure
Measurement is key to help you learn, fine tune and improve
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Develop KPIsDistil into business metricsBenchmark your current state
ExperimentTestRefine approach
Monitor performanceIdentify hotspotsRoot cause analysis
Measuring can help bring organisational alignment
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SalesChurn rates
Repeat purchasesReferrals
Market shareRevenue growth
Profitability
Customer satisfactionAdvocacy
Loyalty
Analytics: injecting intelligence into your customer journeys
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Onboarding
Activation &
education
General enquiry
Retention call
FAQ
SocialReview /comments
Identify opportunities to serve the customer better whilst adding value to the business
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Onboarding
Activation &
education
General enquiry
Retention call
FAQ
Socialreview /comments
Tailored offering & bundle Increase
share of wallet by cross sell
Offer appropriate customerservice
Perform analysis of service issues
Identify customers at risk of churn
Understand customer feedback
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7 steps to customer experience excellence with analytics: an overview
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Map your customers’ journey
Identify problems and opportunities
Prioritise focus areas & build your business case
Pinpoint where analytics can drive valuable customer interactions
Develop your customer analytics competency
Operationalise your analytic insights
Measure and optimise
Step
3 p
rovi
des
inpu
t into Step 7
Learn more about the 7 steps to customer experience excellence with analytics!
Thank you
Free report: available to download now
Free webinar: 6th November @ 4pm GMT / 11am EDT
http://www.mwdadvisors.com/ec/customerexperienceexcellence