delivering contextual experiences for your customers
Post on 13-Sep-2014
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No two people are alike. And there's one thing your company can depend on: everyone wants a customer experience that exactly meets their needs. So how do you build a successful strategy that delivers contextual experiences? You become customer-obsessed and focus on understanding, connecting with and serving customers. Forrester Research, Inc., Senior Analyst, Maxie Schmidt-Subramanian and SDL's Otto de Graaf provide actionable insights into building the business case and executing on strategy. Key take-aways from this slideshare: • Why delivering better customer experiences improves financial performance • Why contextual experiences are better experiences • How to overcome challenges when making the business case for justifying investments in contextualizationTRANSCRIPT
SDL Proprietary and Confidential
Delivering Contextual Experiences for your Customers
Maxie Schmidt-Subramanian, Forrester Senior Analyst serving Customer Experience Professionals
Otto de Graaf, SDL, VP of Strategy
March 12, 2014
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Speakers
Maxie Schmidt-Subramanian, Forrester Senior Analyst serving Customer Experience Professionals
Otto de Graaf, SDL VP of Strategy
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It’s the experience, dummy!
Customer Experience remains a key driver
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Economic Growth Drives Online Growth
Source: IMF World Economic Outlook April 2013
Global is the default
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International differences in motivations for sharing
ALTRUISTIC SHARING STATUS BROADCASTING
My network’s and individual friends’ interests
To amuse my network, laugh
Work related
Headline will get attention
Show what I’m interested in
Reasons for sharing news content with friends/family
SDL research conducted for CNN
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Vatican City, Pope announcement 2005 2013
Michael Sohn / AP
Luca Bruno / AP
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Likes HP
52 years old
Bought a tablet month ago
Looking for a sports car
Shopping for golden ear
rings
On the street using 3G, no wifi access
points
Location: New York
Digital Experience Delivery • It’s about the mobile consumer, not
the device
• Understand time, device, location, behaviour and profile
Early evening
Using an Android 5.7 inch device
Travels KLM
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Majestic Wine Warehouse • Largest UK wine retailer • $450M annual revenue • 1.4M customers, 200 stores +
on-line sales
CXM • Makes wine affordable & accessible • Understands customer preferences • Creates seamless in-store & on-line
experiences
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Three business requirements for Global CXM
Align your organization
across channels, markets,
languages and teams
Create relevant experiences for your
customers, regardless of channel
Understand your audiences’
interests and motivations
Webinar: Making The Business Case For Delivering Contextual Experiences Research by Forrester Consulting, Presented by Maxie Schmidt-Subramanian, Senior Analyst serving Customer Experience Professionals
March 12, 2014
© 2013 Forrester Research, Inc. Reproduction Prohibited 11
Agenda
› Why “contextual” experiences?
› How to get funding for initiatives
› Recommendations
© 2014 Forrester Research, Inc. Reproduction Prohibited 12
We are in the “Age Of The Customer”
Source: “Competitive Strategy In The Age Of The Customer”, Forrester Research, Inc., October 2013
Great customer experiences yield higher financial benefits
© 2013 Forrester Research, Inc. Reproduction Prohibited 14
Better CX drives millions in revenue benefit for companies across industries
$ 55M / 40M €
$ 1.6B / 1.2B €
Source: The Business Impact of Customer Experience, 2014, Forrester Research, Inc., March 2014
© 2012 Forrester Research, Inc. Reproduction Prohibited 15
Customer experience is linked to profitability
Source: Watermark Consulting, 6 year stock performance
Relevant CX: Meet customer needs, feel personal, and deliver in the moment.
© 2013 Forrester Research, Inc. Reproduction Prohibited 17
Source: “Contextualization,” Forrester Research, Inc., November 2012
Contextualization helps make experien-ces more relevant … and better
© 2014 Forrester Research, Inc. Reproduction Prohibited 18
Amazon shows right-sized content and functionality
© 2013 Forrester Research, Inc. Reproduction Prohibited 19
November 2013 “Anticipate Your Customer’s Next Move With Proactive Experiences”
Delta Air Lines Helps Customers Rebook Cancelled Flights In Just A Few Taps
© 2013 Forrester Research, Inc. Reproduction Prohibited 20
November 2013 “Anticipate Your Customer’s Next Move With Proactive Experiences”
Delta Air Lines Helps Customers Rebook Cancelled Flights In Just A Few Taps
© 2013 Forrester Research, Inc. Reproduction Prohibited 21
January 2014 “The Customer Experience Index, 2014”
Delta’s impressive customer experience results
© 2013 Forrester Research, Inc. Reproduction Prohibited 22
Source: “Contextualization,” Forrester Research, Inc., November 2012
Complexity is much higher for multinational and global companies
Needs and preferences differ by region, fueled by differences in culture, language, technology adoption, and other factors.
© 2014 Forrester Research, Inc. Reproduction Prohibited 23
Agenda
›Why “contextual” experiences?
› How to get funding for initiatives
›Recommendations
© 2013 Forrester Research, Inc. Reproduction Prohibited 24
Source: Forrester Consulting, Research with Business and IT Professionals in multinational and global firms
Some of the challenges we heard about Decision-makers don’t see how current experiences
lack relevance
Risks seem to outweigh benefits
Quantifying the upside in advance is difficult
Silos or local business units need to be aligned
“It’s been a constant challenge in our organization to actually put monetary dollar figures to any kind of initiative that improves customer experience.” — Strategy VP at a global financial services company
Every country has their own priority in choosing the processes and interactions they want to improve.” — Business development director of operational excellence at a multinational insurance provider
© 2013 Forrester Research, Inc. Reproduction Prohibited 25
Owners of initiatives need to appeal to decision-makers on three levels
Authority: Credibility and trust Show you’ve done your homework Illustrate with pilot projects, rather than
promise
© 2013 Forrester Research, Inc. Reproduction Prohibited 27
“We adopted a crawl-walk-run approach. First we build the model, and then we develop the use case, and then show the results. This builds trust and verification for wider deployment. We start with low- hanging fruit with minimal investment and show the results achieved.” — CIO at a US global consumer goods company
Authority: Credibility and trust Show you’ve done your homework Illustrate with pilot projects, rather than
promise Use established metrics Enlist external help Work on achieving a higher profile
Logic: Rationale and upside Get the business case directionally
right, not perfect Determine potential cost savings Estimate the upside for top- or
bottom line
© 2013 Forrester Research, Inc. Reproduction Prohibited 30
“We didn’t do a full ROI calculation because we didn’t know what the adoption would be among the customer base. Instead, approval was given once it was shown that the ROI would be positive. Rough estimates for cost savings and the increased security proved enough to get the project off the ground.” — Director and head of information technology at a multinational financial service provider
Emotion: Gut feeling and buy-in Show customers’ pain and how to
alleviate it
© 2013 Forrester Research, Inc. Reproduction Prohibited 32
“We created a deck that showed the hoops customers had to go through to get the information they needed. And we showed clearly where customers got so frustrated that they were about to give up” — CX leader at a global publishing company
Emotion: Gut feeling and buy-in Show customers’ pain and how to
alleviate it Augment ROI with qualitative benefits Show the risk of not investing Mitigate the risk of investing
© 2014 Forrester Research, Inc. Reproduction Prohibited 34
Agenda
›Why “contextual” experiences?
›How to get funding for initiatives
› Recommendations
© 2013 Forrester Research, Inc. Reproduction Prohibited 35
Source: Forrester Research Inc.
Craft a contextualization strategy that is grounded in customer understanding
© 2013 Forrester Research, Inc. Reproduction Prohibited 36
Find allies across the organization – and get local business units on board
“At the corporate level we have established a tool set for business owners in the individual countries. We, for example, provide support for customer journey mapping to identify processes and interactions that can be improved and adapted locally.” — Business development director of operational excellence at a multinational insurance provider
© 2013 Forrester Research, Inc. Reproduction Prohibited 37
Perception What customers think happened and how they feel about it
Descriptive Objective, observable events that happened
Outcome What business result you expect from what happened
Meticulously document successes – quantitative and qualitative feedback
Thank you Maxie Schmidt-Subramanian [email protected] +1 617.613.6746 @maxieschmidt
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Questions?
We encourage questions, please submit in the Q&A box in the right hand corner of your screen.
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– We encourage questions, please type your questions in the Q&A section in the right hand corner of your screen.
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