growth opportunities in customer experience · building customer centricity why customer...

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GROWTH OPPORTUNITIES IN CUSTOMER EXPERIENCE Keep pace with customers and competition with an effective Customer Experience strategy and meet your Brand promise

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Page 1: GROWTH OPPORTUNITIES IN CUSTOMER EXPERIENCE · Building customer centricity WHY CUSTOMER EXPERIENCE? The ever changing competitive business environment and demanding customers are

GROWTH OPPORTUNITIES IN

CUSTOMEREXPERIENCE Keep pace with customers and competition with an effectiveCustomer Experience strategy and meet your Brand promise

Page 2: GROWTH OPPORTUNITIES IN CUSTOMER EXPERIENCE · Building customer centricity WHY CUSTOMER EXPERIENCE? The ever changing competitive business environment and demanding customers are

89% 86% 35%Customers prefera Competitorowing to poorcustomer experience

Customers willingto pay more for a better customerexperience, butonly 1% of customers feelthat companies consistently meettheir expectations

Increase in profitability forcustomer centriccompanies with asuperior customerexperience

KEY GLOBAL CHALLENGES DRIVING CEOS/CXOS TO FOCUS ON CUSTOMER EXPERIENCE

Customer engagement Consistent customer

experience

Differentiation through innovation and beating

competition

Revenue growth Turning cost centers into

revenue drivers

Operational excellence

Optimising cost base

Customer experience cultureBuilding customer

centricity

WHY CUSTOMER EXPERIENCE?

The ever changing competitive business environment and demanding customers are putting more pressureon organisations to go back to the white board and redefine their customer experience capabilities.

Customer Experience has become a key deciding factor for customer loyalty and retention and is turning into a major driving factor for companies’ business performance.

Page 3: GROWTH OPPORTUNITIES IN CUSTOMER EXPERIENCE · Building customer centricity WHY CUSTOMER EXPERIENCE? The ever changing competitive business environment and demanding customers are

OUR GLOBAL CUSTOMER EXPERIENCE MANAGEMENT OFFERINGS

CustomerExperienceVisioning

CustomerExperience

Strategy

CustomerExperienceDesign and

SolutionBlueprint

CustomerExperience

Delivery

Customer Experience Diagnostic

Customer Service Strategy

CRM Strategy

Channel Strategy

Customer Service Analytics

Voice of Customer

Industry Benchmarking

Voice of Internal Customer

Customer Experience Blueprint

Target Operating Model

Channel Design and Optimization

Continuous Improvement through Lean Six Sigma

Process Engineering

Customer Experience Events and Workshops

Thought Leadership Content Development

Training and Development Program

Customer Experience Best Practices

Recognition Program

CC Transformation

Frost & Sullivan’s Customer Experience Management not only helps leadership address business challenges by

identifying growth roadmaps, but also supports businesses to stay focused and aligned to customers and the

ever changing market dynamics.

OUR SOLUTION

TO REMAIN RELEVANT, ORGANISATIONS WILL HAVE TO ADAPT TO CHANGING CUSTOMER DEMANDS,

COMPETITIVE MARKETS AND DISRUPTIVE MEGA TRENDS THAT ARE SHAPING BUSINESSES AND

CUSTOMERS ALIKE.

Page 4: GROWTH OPPORTUNITIES IN CUSTOMER EXPERIENCE · Building customer centricity WHY CUSTOMER EXPERIENCE? The ever changing competitive business environment and demanding customers are

WHY FROST & SULLIVAN?

In line with the need for businesses to keep pace with competition and customers, our end to end customer experience transformation approach aims at unearthing hidden opportunities for business growth and establishinga strong foundation for effective customer relationship management

Customer ExperienceVisioning

Understand and Analyze Strategize and Define

Design

Develop

Execute

Customer Experience Strategy, Design and Blueprint

Customer Experience Delivery

Ph

ase

1

Ph

ase

2

Ph

ase

3

CLIENT CASE STUDIES

Outcome Delivered : Transformation roadmap

• Strategic objectives prioritised with stakeholder requirement clearly mapped out and aligned.

• Set of value measures defined to guide customer experience transformation.

Outcome Delivered : Analysis of internal data to identify the key reasons for churn• Delivery of a predictive model using

the indicators from internal data analysis• Identification of key issues for churn

and enable the organization take preventive actions on CX issues.

Outcome Delivered : Improved internal customer satisfactionindex (in numerical terms from 3.17 to 3.6 ina span of 4 years) • Improved external customer satisfaction

score (from 75 percent to 86 percent in the same time frame)

Client: Singapore healthcare regulator

Client:Emerging telecomcompany

1

32

Challenge: Increasing regulatory changeand market complexity, growing stakeholder expectation for service excellence, client wanted to formulate avision and strategy to be a world classregulator by delivering a superior customer experience.

Challenge: Client wanted toinvestigate the reasons for bad customer experience and the customerchurn, and build a model to forecast thechurn to take preventive action.

Client:A leading Indian telecomservice provider

Challenge: Establish a strategiccustomer experience program to brighten long term growthprospects driven through customersatisfaction /loyalty

WITH OUR UNDERSTANDING OF VOICE OF CUSTOMERS AND MARKETS, ALONG WITH OUR

EXTENSIVE BASE OF CONSULTING EXPERTS, WE ARE UNIQUELY POSITIONED IN THE CUSTOMER

EXPERIENCE SPACE. OUR GLOBAL EXPERTISE ON THE MOST DISRUPTIVE MEGA TRENDS,

TECHNOLOGICAL ADVANCES AND CUSTOMER EXPERIENCE INNOVATION MAKES US THE PARTNER

OF CHOICE TO TRANSLATE CUSTOMER EXPERIENCE INTO A SUCCESSFUL GROWTH OPPORTUNITY.

Page 5: GROWTH OPPORTUNITIES IN CUSTOMER EXPERIENCE · Building customer centricity WHY CUSTOMER EXPERIENCE? The ever changing competitive business environment and demanding customers are

CUSTOMER EXPERIENCE MATURITY MODEL

DO YOU KNOW WHERE YOU ARE ON YOUR CUSTOMER EXPERIENCEJOURNEY AND WHERE YOU SHOULD FOCUS NEXT?

We offer Customer Experience Diagnostic that enables CSOs/CXOs to find out their currentstate maturity, poor performing areas, missing capabilities, and where and how to focus

investments and efforts for the most successful outcomes.

Companies often carry out Voice of Customer analysis but fail to unearth the root causes of the issues. Customer Experience Diagnostic complements VoC by identifying root causes of customer woes and

operational issues and defines actionable improvement roadmaps.

Customer Experience Diagnostic leverages a 6 staged maturity model for businesses to help them find outwhere they are on their customer experience journey and what they need to focus on next to achieve thedesired customer experience.

G 1 2 3 4 5

No ExposureBasic

EvolvingAdvanced

CX is a business objective and

growth agenda Aligned

organization and process

Customer Centricity

Alignment to BusinessObjectives

Unified Customer Experience

Customeranalytics drives

customer strategy

Customerexperience isthe culture

Integrated andconnected

smart systemsNBA enabled

services

Customerengagement is partially proactive

Dedicated CX function

Connectedsystems. Unifiedtechnology/processexperience

Digital presencewith cross channelcapabilityUnified

Customer self help enabled (movingtowards zero contact) next gen digital experience

Traditionalchannels in place

Customerengagement is sharedresponsibility

No idea aboutCXM Leading

Next Gen

Workshops and interviews driven engagement approach brings key stakeholders together and providespragmatic insights into an improvement plan that can be taken into implementation.

PREPARE DISCOVERDAY 2 - WORKSHOP1

ANALYSE PACKAGE &PRESENT

DEFINEDAY 9 - WORKSHOP 2

KEY FEATURES

Different modelsfor B2B and B2C

Easily customisableas per business need

Covers people,process, technology

and functions

Aligns leadership,brand and culture to CX

CUSTOMER EXPERIENCE DIAGNOSTIC

Page 6: GROWTH OPPORTUNITIES IN CUSTOMER EXPERIENCE · Building customer centricity WHY CUSTOMER EXPERIENCE? The ever changing competitive business environment and demanding customers are

Trends in the Customer Experience Management Market

The Potential for Internet of Things (IoT) in Customer Service

Leveraging New Channels to Improve the Customer Experience in Travel & HospitalityIndustries

Global Customer Analytics Landscape

Customer Experience Management - Australia Telecommunications Sector 2015

Customer Experience Management - Australia Residential Electricity Sector 2015

Purpose-Built Analytics Adds Relevancy and Insight as Customer Satisfaction Tools for the Digital Economy

Enhancing Customer Relationship Management (CRM) for Small Midsized Businesses (SMB)

Customer Experience Management - Malaysia Telecommunications 2014

Customer Experience Management - Singapore Telecommunications 2014

Malaysian Medical Insurance Sector Customer Experience Management

Singapore Medical Insurance Customer Experience Management

Singapore Banking Services Customer Experience Management

Future of Customer Experience with User Interface Technologies (Technical Insights)

The Changing Landscape for Customer Support and CRM

Customer Engagement in Retail and Consumer in Europe and North America

Omnichannel Customer Interaction Solutions in India

Customer Engagement in Communications in Europe and North America

Cloud Service Level Agreements: Customer Concerns and Provider Promises

Customer Experience Analytics: Taking a Closer Look

OUR RECENT INSIGHTS

Page 7: GROWTH OPPORTUNITIES IN CUSTOMER EXPERIENCE · Building customer centricity WHY CUSTOMER EXPERIENCE? The ever changing competitive business environment and demanding customers are

NEXT STEPS

Mark Simoncelli

Global Director

[email protected]

+27 (0)21 680 3578

+27 (0)83 267 7495

Contact Us

S.R. Dinesh

Director, APAC

[email protected]

+60 362 045 957

+60 1123 656 374

Bijuraj Sarangi

Principal Consultant

[email protected]

+91 874 480 6440

CLICK HERE TO CONTACT US TODAY

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovationthat addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profoundwave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthroughbest practices, changing customer dynamics and emerging economies? Contact Us.

www.frost.com

Schedule a Growth Strategy Dialog with our Global Team to discuss yourstrategic growth development, learn from the companies performing best practices and discover growth opportunities impacting your company.

Our Growth Partnership programme integrates everything we do into a continuousand renewable flow of research, vision, strategy, implementation and learning that willhelp your company develop actionable transformational growth strategies that allowyou to survive and thrive in an unpredictable future.

Integrate our Growth Consulting team into your growth pipeline projects, using our proprietarytools and expertise support clients through all five phases of the growth cycle: From developing apipeline of growth opportunities to evaluating and prioritizing those opportunities to formulatingand implementing go-to-market strategies to ongoing monitoring.

Participate at a Growth, Innovation and Leadership Event near you: speak, sponsor, participate... Our GILevents offer a powerful learning environment that integrates collaborative think tanks, networking, visionaryinnovation, and inspirational leadership. Each event is designed to help our clients be fully prepared for afuture of disruption, collapse and transformational growth. Learn more about our Events participation here.

GROWTHSTRATEGY

DIALOG

SURVIVE ANDTHRIVE IN AN

UNPREDICTABLEFUTURE

GAIN ACOMPETITIVE

EDGE ANDIMPROVE YOUR

ROI

GETINVOLVED