Integrating Customer Analytics Into Your Business
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This document discusses integrating customer analytics into a business. It outlines a 5-step process for developing a sustainable customer experience (CX) program, including assessing the current experience, creating a CX strategy, developing quick wins, embedding CX processes, and achieving world-class benchmarks. It provides examples of journey mapping to identify pain points and prioritize actions. Quick wins should be customer-focused, impactful, and simple, and progress should be regularly reported and recognized. Developing a steering team, communicating progress, and sharing outcomes with customers are key to delivering on quick win goals.
Integrating Customer Analytics Into Your Business
- 1. Integrating Customer Analytics into your Business Kerri K. Nelson CEO / President CustomersFirst Now
- 2. Kerri K. Nelson CEO / President 25 years in the Information / Analytics industry 10 years leading Customer Experience programs for multi-billion dollar, global companies
- 3. CFN knows how to lead successful CX programs to drive business results based on over 20 years experience 3 “We were able to absorb huge change in our company by implementing an integrated and impactful Customers First process. This approach placed customers at the center of our culture”. Why CFN? Grow revenue organically through higher information usage by end users Scale customer operations globally to support double-digit revenue growth Integrate acquisitions to create a consistent and best in class customer experience • Products • Processes • Systems Integrated, action-oriented and closed loop Customers First survey process Standardized customer-facing processes globally with impactful “outside-in” operational metrics Ongoing linkage and analytics of operational to “delight” to financial performance Targeted Customers First training program for all colleagues Revenue: $844M to $1.8B EBITDA Margins: 24% to 35% Customer Delight: 48% to 72% Colleague Engagement: 58% to 81% 55 to 3 Customer Care locations Business Challenges Solution Business Results – Jerre Stead, CEO & Chairman IHS, Inc.
- 4. We developed a 5-step process that we know creates and deliver a sustainable CX program Explore1 Best Practice Assessment Journey Mapping Statement of CX Intent Assess today’s experience and processes; define strategic CX goals SOLUTIONSFRAMEWORK 2Engage CX Strategy Measures Framework CX Communication Create framework for change; prepare people and processes Embark3 Customer-Centric Quick Wins Organization & Colleague Engagement CX Training and Development Develop quick wins, leverage insights, enhance experience Embed4 Reward and Recognition Performance Management Enhance processes; use insight to guide change 5 Excel World-Class Benchmarks CX ROI CX Redesign Deploy best practices, reinforce culture, analyze impact 4
- 5. Today, we are going to share with you two CX solutions that can jump start your CX program Explore1 Best Practice Assessment Journey Mapping Statement of CX Intent Assess today’s experience and processes; define strategic CX goals SOLUTIONSFRAMEWORK Journey Map 5
- 6. 6 There are three key views of a Journey Map, the first is functional ownership Spine Touchpoints Functional Owners
- 7. The second is the emotional elements of the journey 7 Increase Value / Commitment Manage Exit / Return Deliver The PromiseEarly Engagement Inspire To Purchase Aware I am becoming aware of what Company X can offer and what the company represents Interest I want to find out more about how to become a distributor and what the relationship can do for me and my customers Onboard I choose to do business with you and need to be set up properly and understand how we will do business together going forward Quote I need to understand what conditions we can agree to in order to determine if I will place my order with Company X Order I believe you are the best provider to meet my needs and wish to provide you the details of my order request Receive I want to receive my products based on the criteria we agreed upon when I placed my order. Concern I want you to understand the impact of a problem on my business, and to feel good about how it is resolved Use I want to be able to find timely, relevant information in the way I chose. I want to ensure relevant information is maintained Recommit I need to have had a good experience with Company X to date and also see value in continuing the relationship Deepen I feel Company X has looked after me well, and my business can get greater value from further dealings with them Tech Support I want my technical issues and those of my customers to be dealt with efficiently with minimal impact to my and my customers' business Leave / Return I want to leave MacLean without fuss, on good terms, and with all obligations met. I want to be recognized as a past customer of yours .
- 8. Finally and most importantly, journey maps pull out key moments of truth and pain points 8 MOT Pain Point Both
- 9. Once you understand the key themes to address… then you have to decide how to prioritize your actions internally 4 Key Moment of Truth and Pain Point Pain Point Moment of Truth 2. On Boarding 1. Setting Expectations 3. Issue Resolution 4. Self Help
- 10. It is critical that you prioritize based on what financial objectives are important to your company Opportunity areas by impact Cancellation % Impact 1. Issue Resolution: Asking for help via phone 2. Setting Expectations: Matching business need with solution 3. Onboarding: Learning how to use solution 4. Self Help: Seeking help online 0 5 10 15 20 25 Self Help Onboarding Setting Expectations Issue Resolution % 23% 20% 9% 2% 10
- 11. Once you really understand and have prioritized top pain points, it is time to get to work Explore1 Best Practice Assessment Journey Mapping Statement of CX Intent Assess today’s experience and processes; define strategic CX goals SOLUTIONSFRAMEWORK 2Engage CX Strategy Measures Framework CX Communication Create framework for change; prepare people and processes Embark3 Customer-Centric Quick Wins Organization & Colleague Engagement CX Training and Development Develop quick wins, leverage insights, enhance experience Quick Wins 11
- 12. • Pick areas that can be impacted in a 90 day period • Assign “high will” owners accountable for metrics • Report progress frequently To build a Quick Win approach, keep it customer-focused, impactful and simple 12 Customer-Focused Impactful Simple • Leverage best-in-class goals • Select from your customer pain points and moments of truth • Use 8-10 Metrics only • Use Green and Red to measure progress
- 13. Here is an example of a Quick Win Scorecard 13 In this scorecard metrics are presented in a way to easily compare them to goals set around customer expectations Users also see historical trends for the key performance metrics Flexibility is built into the Scorecard so metrics can be modified or changed based on correlation to the customer delight score Current period Previous periods Customer Delight Score Goal Q3 ’15 Trend Q2 ’15 Q1 ’15 Q4 ’14 - - - 53 53 48 48 48 - - - Moment of truth metrics Baseline Goal July ‘15 Trend over previous period June ’15 May ’15 April ’15 Mar ’15 Feb ’15 Jan ’15 Product Availability (uptime) 99.95% 99.99% 99.96% 99.80% 99.99% 99.99% 99.96% 99.50% 99.80% First contact resolution (FCR) 55% 70% 71% 73% 72% 70% 58% 53% 72% #of data quality issues 300 <100 315 98 280 346 274 315 370 Sales Customer SAT 70% 85% 87% 88% 90% 84% 85% 83% 88% # of billing disputes 1,000 <50 46 51 55 52 60 56 55 13
- 14. 1. Create a Steering Team to review progress, provide feedback and support actions to deliver goals 2. Communicate progress monthly to all team members – great way to demonstrate your company’s focus on your customers 3. Integrate Quick Win metrics is other company scorecards where possible – should not feel like a “special project” or “initiative” 4. Recognize outstanding performances along the way 5. Share progress with customers on a quarterly basis – “here is what we heard and here is what we are doing” Top 5 actions to deliver on your Quick Win approach 14
- 15. Key takeaways from today Know what your customers’ are saying and doing based on the experience you provide them today Demonstrate a sense of urgency in acting on your customers’ perceptions with a clear and impactful Quick Win approach Communicate, communicate, communicate 15
- 16. Q&A
- 17. Thank You!
Editor's Notes
- #5: This is our CX approach that helps you build an integrated CX program There are 5 stages in our framework Explore Engage Embark Embed Excel And we have solutions that address each stage
- #6: This is our CX approach that helps you build an integrated CX program There are 5 stages in our framework Explore Engage Embark Embed Excel And we have solutions that address each stage
- #12: This is our CX approach that helps you build an integrated CX program There are 5 stages in our framework Explore Engage Embark Embed Excel And we have solutions that address each stage