a primer on channel of choice initiatives

A PRIMER ON CHANNEL OF CHOICE INITIATIVES

#COC @ART_HALL4

August 19, 2014

Nothing Much Has Changed

Delivering Pain Free Service is

Hard

Channel of Choice

Recap

NOTHING MUCH HAS CHANGED IN THE PAST 10 YEARS

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2004• Multichannel• “Outside In” View of the Customer• Product Centric• ‘Search’ was a Big Deal

2014• Omnichannel• “Outside In” View of the Customer• Product Centric• ‘Social’ is the Big Deal

Customer Experience Disruption, Evolution and Maturity

#COC @Art_Hall4

Delivering Pain Free Service is

Hard

Nothing Much Has Changed

Channel of Choice

Recap

DELIVERING PAIN-FREE SERVICE IS HARD

Customer service organizations are still pressured to increase efficiencies and reduce costs

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Inconsistent cross-channel experiences

Reactive, not proactive customer service

One-size fits all customer engagement processes

Inefficient interactions with agents

1 2

3 4

#COC @Art_Hall4

CUSTOMERS DESIRE TO BE SERVED IN THEIR PREFFERED CHANNELS AND FOR COMPANIES TO ADAPT TO THEIR CHANGING NEEDS

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More and more customers prefer to engage companies with a broader set of channels…

…however many customers still find it difficult to do business with companies through these channels

Key Customer Segments

30%

Habit-driven

33%

Cost-focused

34%

High-tech1

Preferred Contact Methods

Self-

Serv

eTr

aditi

onal Local Office

Contact Center

IVR

Web

Social

Examples of Customer Pain Points

• 32% repeat and transfer rate• Up to 8 minutes to pay-by-phone• Long wait times

Mobile Web/App

• 6K pages but 90% hits on 140 pages• Low online self-service success• CSRs unwilling to direct customers to

web given current experience

• A mobile app is available but only for payments and requires a different registration from online

#COC @Art_Hall4

Delivering Pain Free Service is

Hard

Nothing Much Has Changed Recap

Channel of Choice

CHANNEL OF CHOICE IS A COMPANY’S RESPONSE TO THE CHANGING NEEDS IN CUSTOMER PREFERENCES

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“Fix the Clicks”

“Retire & Refresh”

“Digitize and Deliver”

“Connect the Siloes”

“Mobilize and Migrate”

Key Components

Fix: Web navigation and intuitiveness with key enhancementsEnable: Targeted capabilities onlineEncourage: Self-service on web platform

Enable: Mobile app or mobile web for top five business processes

Digitize: Key customer communications instead of direct mailEnable: Preference collection and managementLeverage: Proactive customer communications where possible

Retire: Legacy CRM and contact center technology infrastructureRefresh: Customer business processes to reflect changing customer needs

Orchestrate: Business transaction services across existing internal servicesProvide: Transactional access to back-office applicationsInvest: In API management for authorization, metering and throttling

#COC @Art_Hall4

TOP CHANNEL OF CHOICE INVESTMENTS BY GLOBAL 1000 COMPANIES

“Fix the Clicks”

“Mobilize and Migrate”

“Digitize and Deliver”

“Retire & Refresh”

“Connect the Siloes”

Infrastructure

CRM

Unified Comms

IVR / CTI

Unified Desktop

Reporting

Knowledge Mgmt.

Customer Treatment

Blended Channels

Integration

Middleware

OutboundNotification

Platform

Preference Center

Vendor Consolidation

Potential annual savings

$0-$650K

Mobility

Web

App

CRM

SFA

Data Cleansing

MDM

Navigation

Contextual Login

Streamline Enrollment

Design / Screen Flow

Tools

E-Commerce

Pay Channel

9#COC @Art_Hall4

Recap

Delivering Pain Free Service is

Hard

Nothing Much Has Changed Channel of

Choice

LET’S KEEP IN TOUCH

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Art HallAlvarez and Marsal3424 Peachtree Road Suite 1500Atlanta, Georgia 30326(404) 759-9158ahall@alvarezandmarsal.comTwitter: Art_Hall4LinkedIn: https://www.linkedin.com/in/arthall

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