What is Customer Experience?

CUSTVOX LET THE EUR RER RIVE What is Čustomer Experience? http://www.custvox.com 1. Customer Experience Strategies What is CEM? CEM or Customer Experience Management is "How customers percelve their interactions with your company." Only your customers can tell you whether they found their experience useful, usable, and enjoyable. And that Is totally a function of their perceptions (expectations vs, delivered value) External Expectations Expectations Delivered value Set Expectations Communicate Image Deliver Value Meet Expectations Call Product Center TV Radio Print Paper Email Web site Store Kiosk IVR So what is an "interaction?" Interaction is when you and your customers have a two- way exchange. Customer experlences happen across many time frames, including the life- time of customers' relationship with a company, a set of interactions that may take days or weeks to complete a single goal. 国 口 Research Search Compare 囲 Get help Share Discover Decide Evangelize 国 Use 用 回 O Personalize 會 用 Trust 回 口 Friend Purchase Legend: Web Company Mobile website Branch/ store Call Social center CEM follows 3 business benefits: Increase Loyalty: fight customer churn. Increase Share of Wallet: driving cros and up selling. Acquire New Customers: driving sales through positive word-of-mouth. 2. What is the Voice of the Customer? VoC Is expressed across a variety of Interactions and encompasses a vast amount of structured and unstructured information. Often captured in silos by individual departments or single channels, the concept of a VoC hub will offer organizations a solution to unify stovepipe approaches to collecting and analyzing previously Isolated customer feedback. Direct Feedback Social Co-operation Indirect Feedback voc Primary Market Research Social Networks HUB Blogs RSS feeds Secondary Market Research Analytical CRM There are 3 ty pes of VOC: 1. Direct 2. Indirect, and 3. Inferred. DIRECT Information consciously given to the business by the customer, such as survey. INDIRECT Where the business listens into conversations about the business, as with social media monitoring. Datas INFERRED where the business makes an inference on the customer's volce based on all the operational data and customer experiences. Inference You need a Voice of the Customer HUB! Coupled with robust analytical capabilities the solutions will evolve to enable organizations to track a customer's journey across channels, perform trend analysis, sentiment analysis, root cause analysis and more. Organizations will start to see a clear picture of the customers by maintaining a centralized repository of channel Identitles, customer demographics, organizational characteristics as well as respondent history. Automated actions will resemble workflow controlled case management, providing an audit worthy approach to acting on customer Insight. 3. Reasons why you must invest in CEM Good Experiences Grab Customers 40% 55% 85% of people of people of people began purchasing from a competitive brand because of Its reputation for great customer service willing to recommend a company due to out- standing service, more so than product or price would pay up to 25% more to ensure a superior customer experience Bad Experiences push customers away 82% 95% 79% of customerS of customers of those customers have taken action as a result of bad experience. have stopped to do business with a Company due to negative customer experience told others about their experlence. 85% of those customers 24% of those customers wanted to warn others about dolng business with the company wanted to see if the company would take action to resolve the Issue 66% 55% of those customers of those customers wanted to discourage others from buying from the company wanted to vent anger 4. How CRM evolved through CEM CEM makes CRM Customer Centric. CRM CEM Specific Departments Company-centric process WHO Everyone Customer-centric process WHAT WHERE Defined channels Customer-driven channels WHEN Set business hours Customer set hours WHY Transaction Interaction HOW Brand flow outside Voice come inside Customer centricity refers to the orientation of a company to the needs and behaviors of Its customers, rather than internal drivers (such as the quest for short term profit). 5. The Custox approach to manage the Customer Experience CAPTURE - ANALYZE – INTEGRATE - IMPROVE - MEASURE Percelved Level of Customer Service Capture Analyze Data text mining Reporting Systems (Crm, erp, .) Customer Analysis Integrate Right Information Right People Right Time Measure Improve 1:1 customer Open a dialogue with single customer Inside out Measure the efficiency and value creation Enterprise Improvement FIll gaps within the operations Outside in CUSTVOX LET THE EUR RER RIVE What is Čustomer Experience? http://www.custvox.com 1. Customer Experience Strategies What is CEM? CEM or Customer Experience Management is "How customers percelve their interactions with your company." Only your customers can tell you whether they found their experience useful, usable, and enjoyable. And that Is totally a function of their perceptions (expectations vs, delivered value) External Expectations Expectations Delivered value Set Expectations Communicate Image Deliver Value Meet Expectations Call Product Center TV Radio Print Paper Email Web site Store Kiosk IVR So what is an "interaction?" Interaction is when you and your customers have a two- way exchange. Customer experlences happen across many time frames, including the life- time of customers' relationship with a company, a set of interactions that may take days or weeks to complete a single goal. 国 口 Research Search Compare 囲 Get help Share Discover Decide Evangelize 国 Use 用 回 O Personalize 會 用 Trust 回 口 Friend Purchase Legend: Web Company Mobile website Branch/ store Call Social center CEM follows 3 business benefits: Increase Loyalty: fight customer churn. Increase Share of Wallet: driving cros and up selling. Acquire New Customers: driving sales through positive word-of-mouth. 2. What is the Voice of the Customer? VoC Is expressed across a variety of Interactions and encompasses a vast amount of structured and unstructured information. Often captured in silos by individual departments or single channels, the concept of a VoC hub will offer organizations a solution to unify stovepipe approaches to collecting and analyzing previously Isolated customer feedback. Direct Feedback Social Co-operation Indirect Feedback voc Primary Market Research Social Networks HUB Blogs RSS feeds Secondary Market Research Analytical CRM There are 3 ty pes of VOC: 1. Direct 2. Indirect, and 3. Inferred. DIRECT Information consciously given to the business by the customer, such as survey. INDIRECT Where the business listens into conversations about the business, as with social media monitoring. Datas INFERRED where the business makes an inference on the customer's volce based on all the operational data and customer experiences. Inference You need a Voice of the Customer HUB! Coupled with robust analytical capabilities the solutions will evolve to enable organizations to track a customer's journey across channels, perform trend analysis, sentiment analysis, root cause analysis and more. Organizations will start to see a clear picture of the customers by maintaining a centralized repository of channel Identitles, customer demographics, organizational characteristics as well as respondent history. Automated actions will resemble workflow controlled case management, providing an audit worthy approach to acting on customer Insight. 3. Reasons why you must invest in CEM Good Experiences Grab Customers 40% 55% 85% of people of people of people began purchasing from a competitive brand because of Its reputation for great customer service willing to recommend a company due to out- standing service, more so than product or price would pay up to 25% more to ensure a superior customer experience Bad Experiences push customers away 82% 95% 79% of customerS of customers of those customers have taken action as a result of bad experience. have stopped to do business with a Company due to negative customer experience told others about their experlence. 85% of those customers 24% of those customers wanted to warn others about dolng business with the company wanted to see if the company would take action to resolve the Issue 66% 55% of those customers of those customers wanted to discourage others from buying from the company wanted to vent anger 4. How CRM evolved through CEM CEM makes CRM Customer Centric. CRM CEM Specific Departments Company-centric process WHO Everyone Customer-centric process WHAT WHERE Defined channels Customer-driven channels WHEN Set business hours Customer set hours WHY Transaction Interaction HOW Brand flow outside Voice come inside Customer centricity refers to the orientation of a company to the needs and behaviors of Its customers, rather than internal drivers (such as the quest for short term profit). 5. The Custox approach to manage the Customer Experience CAPTURE - ANALYZE – INTEGRATE - IMPROVE - MEASURE Percelved Level of Customer Service Capture Analyze Data text mining Reporting Systems (Crm, erp, .) Customer Analysis Integrate Right Information Right People Right Time Measure Improve 1:1 customer Open a dialogue with single customer Inside out Measure the efficiency and value creation Enterprise Improvement FIll gaps within the operations Outside in CUSTVOX LET THE EUR RER RIVE What is Čustomer Experience? http://www.custvox.com 1. Customer Experience Strategies What is CEM? CEM or Customer Experience Management is "How customers percelve their interactions with your company." Only your customers can tell you whether they found their experience useful, usable, and enjoyable. And that Is totally a function of their perceptions (expectations vs, delivered value) External Expectations Expectations Delivered value Set Expectations Communicate Image Deliver Value Meet Expectations Call Product Center TV Radio Print Paper Email Web site Store Kiosk IVR So what is an "interaction?" Interaction is when you and your customers have a two- way exchange. Customer experlences happen across many time frames, including the life- time of customers' relationship with a company, a set of interactions that may take days or weeks to complete a single goal. 国 口 Research Search Compare 囲 Get help Share Discover Decide Evangelize 国 Use 用 回 O Personalize 會 用 Trust 回 口 Friend Purchase Legend: Web Company Mobile website Branch/ store Call Social center CEM follows 3 business benefits: Increase Loyalty: fight customer churn. Increase Share of Wallet: driving cros and up selling. Acquire New Customers: driving sales through positive word-of-mouth. 2. What is the Voice of the Customer? VoC Is expressed across a variety of Interactions and encompasses a vast amount of structured and unstructured information. Often captured in silos by individual departments or single channels, the concept of a VoC hub will offer organizations a solution to unify stovepipe approaches to collecting and analyzing previously Isolated customer feedback. Direct Feedback Social Co-operation Indirect Feedback voc Primary Market Research Social Networks HUB Blogs RSS feeds Secondary Market Research Analytical CRM There are 3 ty pes of VOC: 1. Direct 2. Indirect, and 3. Inferred. DIRECT Information consciously given to the business by the customer, such as survey. INDIRECT Where the business listens into conversations about the business, as with social media monitoring. Datas INFERRED where the business makes an inference on the customer's volce based on all the operational data and customer experiences. Inference You need a Voice of the Customer HUB! Coupled with robust analytical capabilities the solutions will evolve to enable organizations to track a customer's journey across channels, perform trend analysis, sentiment analysis, root cause analysis and more. Organizations will start to see a clear picture of the customers by maintaining a centralized repository of channel Identitles, customer demographics, organizational characteristics as well as respondent history. Automated actions will resemble workflow controlled case management, providing an audit worthy approach to acting on customer Insight. 3. Reasons why you must invest in CEM Good Experiences Grab Customers 40% 55% 85% of people of people of people began purchasing from a competitive brand because of Its reputation for great customer service willing to recommend a company due to out- standing service, more so than product or price would pay up to 25% more to ensure a superior customer experience Bad Experiences push customers away 82% 95% 79% of customerS of customers of those customers have taken action as a result of bad experience. have stopped to do business with a Company due to negative customer experience told others about their experlence. 85% of those customers 24% of those customers wanted to warn others about dolng business with the company wanted to see if the company would take action to resolve the Issue 66% 55% of those customers of those customers wanted to discourage others from buying from the company wanted to vent anger 4. How CRM evolved through CEM CEM makes CRM Customer Centric. CRM CEM Specific Departments Company-centric process WHO Everyone Customer-centric process WHAT WHERE Defined channels Customer-driven channels WHEN Set business hours Customer set hours WHY Transaction Interaction HOW Brand flow outside Voice come inside Customer centricity refers to the orientation of a company to the needs and behaviors of Its customers, rather than internal drivers (such as the quest for short term profit). 5. The Custox approach to manage the Customer Experience CAPTURE - ANALYZE – INTEGRATE - IMPROVE - MEASURE Percelved Level of Customer Service Capture Analyze Data text mining Reporting Systems (Crm, erp, .) Customer Analysis Integrate Right Information Right People Right Time Measure Improve 1:1 customer Open a dialogue with single customer Inside out Measure the efficiency and value creation Enterprise Improvement FIll gaps within the operations Outside in CUSTVOX LET THE EUR RER RIVE What is Čustomer Experience? http://www.custvox.com 1. Customer Experience Strategies What is CEM? CEM or Customer Experience Management is "How customers percelve their interactions with your company." Only your customers can tell you whether they found their experience useful, usable, and enjoyable. And that Is totally a function of their perceptions (expectations vs, delivered value) External Expectations Expectations Delivered value Set Expectations Communicate Image Deliver Value Meet Expectations Call Product Center TV Radio Print Paper Email Web site Store Kiosk IVR So what is an "interaction?" Interaction is when you and your customers have a two- way exchange. Customer experlences happen across many time frames, including the life- time of customers' relationship with a company, a set of interactions that may take days or weeks to complete a single goal. 国 口 Research Search Compare 囲 Get help Share Discover Decide Evangelize 国 Use 用 回 O Personalize 會 用 Trust 回 口 Friend Purchase Legend: Web Company Mobile website Branch/ store Call Social center CEM follows 3 business benefits: Increase Loyalty: fight customer churn. Increase Share of Wallet: driving cros and up selling. Acquire New Customers: driving sales through positive word-of-mouth. 2. What is the Voice of the Customer? VoC Is expressed across a variety of Interactions and encompasses a vast amount of structured and unstructured information. Often captured in silos by individual departments or single channels, the concept of a VoC hub will offer organizations a solution to unify stovepipe approaches to collecting and analyzing previously Isolated customer feedback. Direct Feedback Social Co-operation Indirect Feedback voc Primary Market Research Social Networks HUB Blogs RSS feeds Secondary Market Research Analytical CRM There are 3 ty pes of VOC: 1. Direct 2. Indirect, and 3. Inferred. DIRECT Information consciously given to the business by the customer, such as survey. INDIRECT Where the business listens into conversations about the business, as with social media monitoring. Datas INFERRED where the business makes an inference on the customer's volce based on all the operational data and customer experiences. Inference You need a Voice of the Customer HUB! Coupled with robust analytical capabilities the solutions will evolve to enable organizations to track a customer's journey across channels, perform trend analysis, sentiment analysis, root cause analysis and more. Organizations will start to see a clear picture of the customers by maintaining a centralized repository of channel Identitles, customer demographics, organizational characteristics as well as respondent history. Automated actions will resemble workflow controlled case management, providing an audit worthy approach to acting on customer Insight. 3. Reasons why you must invest in CEM Good Experiences Grab Customers 40% 55% 85% of people of people of people began purchasing from a competitive brand because of Its reputation for great customer service willing to recommend a company due to out- standing service, more so than product or price would pay up to 25% more to ensure a superior customer experience Bad Experiences push customers away 82% 95% 79% of customerS of customers of those customers have taken action as a result of bad experience. have stopped to do business with a Company due to negative customer experience told others about their experlence. 85% of those customers 24% of those customers wanted to warn others about dolng business with the company wanted to see if the company would take action to resolve the Issue 66% 55% of those customers of those customers wanted to discourage others from buying from the company wanted to vent anger 4. How CRM evolved through CEM CEM makes CRM Customer Centric. CRM CEM Specific Departments Company-centric process WHO Everyone Customer-centric process WHAT WHERE Defined channels Customer-driven channels WHEN Set business hours Customer set hours WHY Transaction Interaction HOW Brand flow outside Voice come inside Customer centricity refers to the orientation of a company to the needs and behaviors of Its customers, rather than internal drivers (such as the quest for short term profit). 5. The Custox approach to manage the Customer Experience CAPTURE - ANALYZE – INTEGRATE - IMPROVE - MEASURE Percelved Level of Customer Service Capture Analyze Data text mining Reporting Systems (Crm, erp, .) Customer Analysis Integrate Right Information Right People Right Time Measure Improve 1:1 customer Open a dialogue with single customer Inside out Measure the efficiency and value creation Enterprise Improvement FIll gaps within the operations Outside in CUSTVOX LET THE EUR RER RIVE What is Čustomer Experience? http://www.custvox.com 1. Customer Experience Strategies What is CEM? CEM or Customer Experience Management is "How customers percelve their interactions with your company." Only your customers can tell you whether they found their experience useful, usable, and enjoyable. And that Is totally a function of their perceptions (expectations vs, delivered value) External Expectations Expectations Delivered value Set Expectations Communicate Image Deliver Value Meet Expectations Call Product Center TV Radio Print Paper Email Web site Store Kiosk IVR So what is an "interaction?" Interaction is when you and your customers have a two- way exchange. Customer experlences happen across many time frames, including the life- time of customers' relationship with a company, a set of interactions that may take days or weeks to complete a single goal. 国 口 Research Search Compare 囲 Get help Share Discover Decide Evangelize 国 Use 用 回 O Personalize 會 用 Trust 回 口 Friend Purchase Legend: Web Company Mobile website Branch/ store Call Social center CEM follows 3 business benefits: Increase Loyalty: fight customer churn. Increase Share of Wallet: driving cros and up selling. Acquire New Customers: driving sales through positive word-of-mouth. 2. What is the Voice of the Customer? VoC Is expressed across a variety of Interactions and encompasses a vast amount of structured and unstructured information. Often captured in silos by individual departments or single channels, the concept of a VoC hub will offer organizations a solution to unify stovepipe approaches to collecting and analyzing previously Isolated customer feedback. Direct Feedback Social Co-operation Indirect Feedback voc Primary Market Research Social Networks HUB Blogs RSS feeds Secondary Market Research Analytical CRM There are 3 ty pes of VOC: 1. Direct 2. Indirect, and 3. Inferred. DIRECT Information consciously given to the business by the customer, such as survey. INDIRECT Where the business listens into conversations about the business, as with social media monitoring. Datas INFERRED where the business makes an inference on the customer's volce based on all the operational data and customer experiences. Inference You need a Voice of the Customer HUB! Coupled with robust analytical capabilities the solutions will evolve to enable organizations to track a customer's journey across channels, perform trend analysis, sentiment analysis, root cause analysis and more. Organizations will start to see a clear picture of the customers by maintaining a centralized repository of channel Identitles, customer demographics, organizational characteristics as well as respondent history. Automated actions will resemble workflow controlled case management, providing an audit worthy approach to acting on customer Insight. 3. Reasons why you must invest in CEM Good Experiences Grab Customers 40% 55% 85% of people of people of people began purchasing from a competitive brand because of Its reputation for great customer service willing to recommend a company due to out- standing service, more so than product or price would pay up to 25% more to ensure a superior customer experience Bad Experiences push customers away 82% 95% 79% of customerS of customers of those customers have taken action as a result of bad experience. have stopped to do business with a Company due to negative customer experience told others about their experlence. 85% of those customers 24% of those customers wanted to warn others about dolng business with the company wanted to see if the company would take action to resolve the Issue 66% 55% of those customers of those customers wanted to discourage others from buying from the company wanted to vent anger 4. How CRM evolved through CEM CEM makes CRM Customer Centric. CRM CEM Specific Departments Company-centric process WHO Everyone Customer-centric process WHAT WHERE Defined channels Customer-driven channels WHEN Set business hours Customer set hours WHY Transaction Interaction HOW Brand flow outside Voice come inside Customer centricity refers to the orientation of a company to the needs and behaviors of Its customers, rather than internal drivers (such as the quest for short term profit). 5. The Custox approach to manage the Customer Experience CAPTURE - ANALYZE – INTEGRATE - IMPROVE - MEASURE Percelved Level of Customer Service Capture Analyze Data text mining Reporting Systems (Crm, erp, .) Customer Analysis Integrate Right Information Right People Right Time Measure Improve 1:1 customer Open a dialogue with single customer Inside out Measure the efficiency and value creation Enterprise Improvement FIll gaps within the operations Outside in CUSTVOX LET THE EUR RER RIVE What is Čustomer Experience? http://www.custvox.com 1. Customer Experience Strategies What is CEM? CEM or Customer Experience Management is "How customers percelve their interactions with your company." Only your customers can tell you whether they found their experience useful, usable, and enjoyable. And that Is totally a function of their perceptions (expectations vs, delivered value) External Expectations Expectations Delivered value Set Expectations Communicate Image Deliver Value Meet Expectations Call Product Center TV Radio Print Paper Email Web site Store Kiosk IVR So what is an "interaction?" Interaction is when you and your customers have a two- way exchange. Customer experlences happen across many time frames, including the life- time of customers' relationship with a company, a set of interactions that may take days or weeks to complete a single goal. 国 口 Research Search Compare 囲 Get help Share Discover Decide Evangelize 国 Use 用 回 O Personalize 會 用 Trust 回 口 Friend Purchase Legend: Web Company Mobile website Branch/ store Call Social center CEM follows 3 business benefits: Increase Loyalty: fight customer churn. Increase Share of Wallet: driving cros and up selling. Acquire New Customers: driving sales through positive word-of-mouth. 2. What is the Voice of the Customer? VoC Is expressed across a variety of Interactions and encompasses a vast amount of structured and unstructured information. Often captured in silos by individual departments or single channels, the concept of a VoC hub will offer organizations a solution to unify stovepipe approaches to collecting and analyzing previously Isolated customer feedback. Direct Feedback Social Co-operation Indirect Feedback voc Primary Market Research Social Networks HUB Blogs RSS feeds Secondary Market Research Analytical CRM There are 3 ty pes of VOC: 1. Direct 2. Indirect, and 3. Inferred. DIRECT Information consciously given to the business by the customer, such as survey. INDIRECT Where the business listens into conversations about the business, as with social media monitoring. Datas INFERRED where the business makes an inference on the customer's volce based on all the operational data and customer experiences. Inference You need a Voice of the Customer HUB! Coupled with robust analytical capabilities the solutions will evolve to enable organizations to track a customer's journey across channels, perform trend analysis, sentiment analysis, root cause analysis and more. Organizations will start to see a clear picture of the customers by maintaining a centralized repository of channel Identitles, customer demographics, organizational characteristics as well as respondent history. Automated actions will resemble workflow controlled case management, providing an audit worthy approach to acting on customer Insight. 3. Reasons why you must invest in CEM Good Experiences Grab Customers 40% 55% 85% of people of people of people began purchasing from a competitive brand because of Its reputation for great customer service willing to recommend a company due to out- standing service, more so than product or price would pay up to 25% more to ensure a superior customer experience Bad Experiences push customers away 82% 95% 79% of customerS of customers of those customers have taken action as a result of bad experience. have stopped to do business with a Company due to negative customer experience told others about their experlence. 85% of those customers 24% of those customers wanted to warn others about dolng business with the company wanted to see if the company would take action to resolve the Issue 66% 55% of those customers of those customers wanted to discourage others from buying from the company wanted to vent anger 4. How CRM evolved through CEM CEM makes CRM Customer Centric. CRM CEM Specific Departments Company-centric process WHO Everyone Customer-centric process WHAT WHERE Defined channels Customer-driven channels WHEN Set business hours Customer set hours WHY Transaction Interaction HOW Brand flow outside Voice come inside Customer centricity refers to the orientation of a company to the needs and behaviors of Its customers, rather than internal drivers (such as the quest for short term profit). 5. The Custox approach to manage the Customer Experience CAPTURE - ANALYZE – INTEGRATE - IMPROVE - MEASURE Percelved Level of Customer Service Capture Analyze Data text mining Reporting Systems (Crm, erp, .) Customer Analysis Integrate Right Information Right People Right Time Measure Improve 1:1 customer Open a dialogue with single customer Inside out Measure the efficiency and value creation Enterprise Improvement FIll gaps within the operations Outside in