Massive Operating Efficiencies of the Digital Customer Experience
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The document presents a comprehensive overview of digital customer experience (DCX) and its significance in enhancing operational efficiencies for enterprises. It highlights key consumer expectations, major challenges in the DCX journey, and showcases a successful case study from a telecom provider, detailing improvements in customer satisfaction and costs achieved through strategic initiatives. The insights emphasize the importance of real-time, predictive service and personalized interactions in today's digital landscape.
Massive Operating Efficiencies of the Digital Customer Experience
- 1. Digital Customer Experience Presented by: Blueocean Market Intelligence Massive Operating Efficiencies of the
- 2. © 2018 Blueocean Market Intelligence 2 Massive Operating Efficiencies of the Digital Customer Experience Joseph Sursock | Anchor Senior Vice President – Business Development (Europe) Joseph.s@blueoceanmi.com Sushant Ajmani | Presenter Vice President – Digital Customer Experience Sushant.a@blueoceanmi.com
- 3. Agenda © 2018 Blueocean Market Intelligence 3 Consumer experience and the digital landscape Major challenges faced by enterprises on their DCX journey What is Digital Customer Experience (DCX)? How Blueocean is enabling enterprises Success Story: Telecom Q&A
- 4. About me © 2018 Blueocean Market Intelligence 4 Sushant Ajmani Head Solutions & Consulting practice at Blueocean Market Intelligence Spent over 17 years in the Marketing & Customer analytics domain both as a consultant as well as entrepreneur Trained over 2000+ digital professionals across 50+ enterprises Consulted over 180+ enterprises in the digital analytics space Post memorable years at eBay, ran own analytics consulting firm
- 5. Blueocean Market Intelligence © 2018 Blueocean Market Intelligence 5 Digital Transformation enabled through Analytics, Insights, and Artificial Intelligence Solution Portfolio Integrated Marketing Measurement Digital Customer Experience Social Media Sensing Transformative Digital Center of Excellence
- 6. How is consumer experience shaping the digital landscape? © 2018 Blueocean Market Intelligence 6 In the U.K. the estimated cost of customers switching due to poor service is £37bn while in U.S, it’s $1.6 Trillion – Accenture
- 7. How is consumer experience shaping the digital landscape? © 2018 Blueocean Market Intelligence 7 Maximizing satisfaction across customer journeys has the potential to increase customer satisfaction by 20% and to lift revenue by up to 15% while lowering the cost of serving customers by as much as 20%. – McKinsey & Co.
- 8. How is consumer experience shaping the digital landscape? © 2018 Blueocean Market Intelligence 8 Companies that excel at customer experience grow revenues 4-8% above the market. – Bain & Co.
- 9. © 2018 Blueocean Market Intelligence 9 How to build linkages between metrics at every level of customer experience delivery such that it correlates well with the overall satisfaction measure?
- 10. Immediate, responsive service What consumers are expecting from digital enterprises? © 2018 Blueocean Market Intelligence 10 • 64% of consumers and 80% of business buyers said they expect companies to respond to and interact with them in real time. • 66% of Millennial consumers expect real-time responses and interactions, versus 62% of Baby Boomers.
- 11. Immediate, responsive service What consumers are expecting from digital enterprises? © 2018 Blueocean Market Intelligence 11 Predictive, anticipatory service (as the norm) By 2020 – • 75% of business buyers will expect companies that can anticipate their needs and make relevant suggestions before they initiate contact, while… • 73% will expect that products they purchase will self-diagnose issues and automatically order replacement parts or service.
- 12. Immediate, responsive service What consumers are expecting from digital enterprises? © 2018 Blueocean Market Intelligence 12 Predictive, anticipatory service (as the norm) Consistency • 75% of consumers expect consistent experiences across multiple channels (web, mobile, in-person, social), with… • 73% likely to switch brands if they don’t get it.
- 13. Immediate, responsive service What consumers are expecting from digital enterprises? © 2018 Blueocean Market Intelligence 13 Predictive, anticipatory service (as the norm) Consistency In exchange – Customers are willing to share personal data • 61% of Millennials are happy to share personal data if it leads to a more personalized in-store or online shopping experience, while… • 58% will share personal data to power product recommendations that match their needs.
- 14. Major Challenges along the Digital Customer Experience Journey © 2018 Blueocean Market Intelligence 14 Understanding customer expectations and knowing how to exceed them Customer expectations are constantly changing Realizing single customer profiles to gain a 360 degree holistic view of the customer Unified channel communications are essential to win over upset customers and retain them Delivering consistent customer experience across all channels Customers rate business on cumulative experiences, rather than singular touchpoints Deliver personalized experience at every step of the customer journey Customers want businesses to treat them as human individuals, not robots or algorithms Choosing the right technology to create better experiences Challenge is to use the right technology to improve the right parts of customer experience
- 15. What is Digital Customer Experience? © 2018 Blueocean Market Intelligence 15 Digital Customer Experience (DCX) is a framework/methodology which enables an organization to reduce their operational cost, strengthen digital as self-service channels for both B2C and B2B subscribers, and improve customer satisfaction measures (CSAT, CES, NPS) both at the channel and organizational level.
- 16. How Blueocean Enables Enterprises with DCX? © 2018 Blueocean Market Intelligence 16 • CMS Platform • PIM • Promotional Platform • Marketing Tools • DMPs • Targeting Platform • CRM Platform • Marketing Automation • Transactional System • CRM Platforms • Transactional System • CRM Platform • Transactional System • Promotional Platform Digital Online/Offline Media Sales Call Center Brick & Mortar Stores Business Technology Layer Digital Online/Offline Media Sales Call Center Brick & Mortar Stores Consumer Experience Layer Delivering Experiences • Clickstream Platform • Survey Platform • Reviews Platform • Clickstream Platform • Marketing Tools • Channel Partners • CRM Platform • Marketing Automation • Call Recording System • NLP System • Kiosks • Tablets/Apps Digital Online/Offline Media Sales Call Center Brick & Mortar Stores Feedback Collection Layer Leverage Feedback Suggesting Actions Blueocean DCX Engine Delivering Actions
- 17. © 2018 Blueocean Market Intelligence 17 What does Digital Customer Experience mean for your organization and how are you influencing that?
- 18. Case Study – DCX for Telecom Sector
- 19. Large telecom provider in Western European region targeting both consumer and commercial (SMBs and Large Enterprises) segments © 2018 Blueocean Market Intelligence 19 Business Problem The client was frustrated with declining customer satisfaction scores and rising operational costs YOY Client Large telecom provider in Western European region with approx. 5.3 million subscribers (65% consumers and 35% commercial) Challenge For 3 years in a row, the client had recorded consistent decline in customer satisfaction measures: • CSAT declined from 85% to 73% • NPS declined from 9 to 6 • Churn rate increased from 25% to 39% for the consumer segment and 18% to 23% for the commercial segment • Plus - there was higher dependency on the IVR/Call Center channel despite investing significantly in digital channels to enable customer self-service 2-year Partnership
- 20. Mid-size telecom provider in Western European region targeting both consumer and commercial (SMBs and Large Enterprises) segments © 2018 Blueocean Market Intelligence 20 Our Approach We initiated the engagement with a 3-week discovery workshop wherein we met key stakeholders from Sales, Marketing (Acquisition & CRM), Channel, Product, Offers, Call Center, Vendor Mgmt., and Store and Media Agencies. Post discovery session, we delivered a comprehensive current state assessment report along with Quick Wins, Short to Long Term Roadmap, and a measurable POC definition. Collaboratively, we executed a POC on identifying the reasons behind declining satisfaction measures and the increasing operational cost by mining transactional records, web chat scripts, call center disposition, social media conversations, and online & offline survey data using NLP techniques in SPARK ML library. The client was frustrated with declining customer satisfaction scores and rising operational costs YOY
- 21. Mid-size telecom provider in Western European region targeting both consumer and commercial (SMBs and Large Enterprises) segments © 2018 Blueocean Market Intelligence 21 Our Approach As an outcome of the POC phase, we built a tactical roadmap comprising of multiple projects executed as per AGILE SCRUM methodology. Each project was executed as a 6 weeks sprint wherein 25% of the work-force was based out of client premises under the leadership of a DCX Champ from Blueocean who played a critical role in evangelizing and operationalizing the output of the projects. The general principles and framework behind this optimization initiative was Blueocean’s DCX Solution, which: • is platform agnostic • beautifully leverages existing technology infrastructure (on-premise/on-cloud) of the client • allows the client to achieve operational efficiencies, improvement in satisfaction measures, and enablement of self-service digital channels for customer care The client was frustrated with declining customer satisfaction scores and rising operational costs YOY (Continued)
- 22. High-LevelTechnologyStack &DataSources © 2018 Blueocean Market Intelligence 22 Project Start Sep 2015 Project Completion Date Still continuing Multi-phase Rollout 5 Phases Executed POC Successfully Completed POC Location Blueocean HQ POC Completion Date Jan 2016 POC Success KPI Identification of key contributing factors behind declining satisfaction measures and increasing operational cost • TIBCO StreamBase • TIBCO eFTL • TIBCO Mashery • TIBCO Cloud Integration • Oracle DB • Talend (ETL layer) • TIBCO Spotfire • Clickstream (Adobe Analytics) • Salesforce (CRM) • Eloqua (Marketing Automation) • ATL & BTL Channels • Unstructured Data (Call Center, Surveys, Web Scripts etc.) Challenges we faced • Getting access to a decent data size with higher statistical power • IT and Business Intelligence teams apprehensive about bringing an external agency • Had to conduct series of evangelization sessions and workshops to demonstrate the value of DCX solution • Aligning multiple phases of the DCX solution rollout with the weekly and monthly release cycles • Educating channel managers about various propensity measures and enabling them to validate the output of the decision engine • Isolating the execution of multiple optimization initiatives to prove impact on satisfaction & operational measures
- 23. © 2018 Blueocean Market Intelligence 23 Project Start Sep 2015 Project Completion Date Nov 2017 Multi-phase Rollout 5 Phases Executed POC Successfully Completed POC Location Blueocean HQ POC Completion Date Jan 2016 POC Success KPI Identification of key contributing factors behind declining satisfaction measures and increasing operational cost What the client achieved We recently completed the Phase 5 of this engagement. Over past 24 months, we have recorded the following improvement in satisfaction and operational measures: • CSAT score increased from 73% to 81% and NPS score increased from 6 to 9 at an organization level • Number of calls to the call-center decreased by 28% and reduced cost by 11% MOM • Able to improve the revenue by 6.5% in the last 6 months in comparison to the same period last fiscal • Number of returning visitors on the website increased from 28% to 45% • Usage of self-service tools on the website showed a significant lift of 58% among existing subscribers for the top 3 digital savvy segments (Young Start-outs, iFamilies, and Trendy Techies)
- 24. Q&A
- 25. Thank You Sushant Ajmani <sushant.a@blueoceanmi.com> United States | United Kingdom | India | United Arab Emirates www.blueoceanmi.com