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Financial Services Club 28 September 2016
Clinton Bell [email protected] | 07941 227512 | @DigitalCXetc
https://uk.linkedin.com/in/clintonbelluk
Reaching the digital consumer
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How to make the best use of digital to engage with customers and grow
revenues
The digital landscape
The importance of mapping customer journeys linked to real-time data to
create and manage unified customer experiences
CFN is a global CX company
3
Delighting customers through a proven, best-in-class customer
experience approach that delivers financial results
Headquartered in Denver,
we have operations in
London, Toronto and
Bangalore
4
Financial services clients
Context
5
The age of
the customer
Technology
Global/social
changes
The threat/opportunity
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Brand heritage and recognition
Choice
Trust <> human contact
BIG (!) data
Leverage social media
Truly understand and use the digital
channel
Food for thought
7
71% of consumers prefer dealing with human beings
52% have switched providers in the past year due to poor customer
service
47% are willing to pay more for better customer service
73% expect customer service to be easier and more convenient
65% want it faster
Having switched, 65% of consumers will not go back
82% of "switchers" feel the company could have done something to retain
them
73% said better live/in-person customer service would have impacted their
decision Source: Accenture
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“By 2020 customer experience will
overtake price as the key brand
differentiator” Forbes Magazine
“Customer experience is the next
competitive battleground” Jerry Gregoire, CIO of Dell
Our approach to customer experience
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Map the overall customer experience in detail and holistically
Integrate real-time data
Set up metrics in order to understand and predict the impact on financial
performance and revenue growth
Integrate Consulting + Technology + Data Analytics
With four core disciplines
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Customer
Engagement
Colleague
Engagement
Operational
Excellence
Behavioural
Excellence
We’re not
competitor-
obsessed, we’re
customer-obsessed.
We start with what
the customer needs
and we work
backwards – Jeff Bezos
Whether you are big
or small, you cannot
give good customer
service if your
employees don’t
feel good about
coming to work. – Martin Oliver
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And it’s a journey…
1 Explore
Best Practice
Assessment
Customer
Journey
Mapping
Statement of
Intent (SOI)
SO
LU
TIO
NS
F
OC
US
Goals
Defined
2 Engage
CX Strategy
Measures
Framework
CX
Communication
Business
Engaged
Embark 3
Quick Wins
Organisation &
Colleague
Engagement
CX Training and
Development
Early
Priorities
Addressed
Embed 4
Reward and
Recognition
Performance
Management
Systematic
Improvement
5 Excel
World Class
Benchmarks
CX ROI
CX Redesign
Goals
Realised
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Who - if anyone - in your company is
monitoring your customers’ entire
experience?
Customer Journey vs Touchpoints
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Understanding the entire
customer journey yields up
to 117% greater customer
satisfaction and 104%
greater willingness to
recommend than looking
solely at touchpoints
- McKinsey
Mapping the customer journey
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A shared view of the end-to-end journey
From the customer’s perspective - how it feels to be a customer
Foundation for data and insights to drive business improvement
Better organisation, collaboration and communication
15 Over 160 touch points delivered by 17 different departments
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Filters & Views Menu for
the Journey Map
Customer outcome stage Journey Stage
Touchpoint
Feature to convert a
Journey Map to a
Template
All blocks can be dragged and
dropped across stages,
cut and paste
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Filtered by business owner
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Journey Map Analysis
Journey map integrated with real-time data
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Customer Journey Mapping + Data Analytics
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Holistic view
Real-time dashboards, linked to live data
Share across the organisation and across channels
Improve collaboration and communication
Assign actions and improve workflows and organisation
What’s Next for CFN Insight Platform
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Customer
Journey
Maps
Customer
Journey
Maps
Analytics Analytics
Analytics
Research Research
Research CX Best
Practices
Best
Practice Best
Practice
Predictive
and
Prescriptive
Analytics
Action
Plans
Journey
Maps
Executive Dashboard
Cross-Function
Collaboration
CFN Rating Market
Scenarios
Customer 360 View
CFN Best Practice Assessment
CX Scorecard
Global
Metrics
Financials
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Effort
More
Most
Most More
Va
lue External Sources
• Economic Data
• Benchmark Data
• Financial Market
Data
• Industry Research
data
Customer Data
• Survey data
• Website/Clickstream
Data
• Internal
communication
channels, Intranet
• Call Center
Transcripts
Unstructured Data
External Sources
• Documents/Video/
Image
• Survey data (survey
index)
• Credit scores (FICO,
D&B)
• Blogs/Forums
• Social Networks
Customer Data
• CRM
• Point of Sale
• Transactional Data
• Operational data
• Financial Data
• Demographic Data
• Survey data
Structured Data
CFN Data
• CJM
• BP Assessment Data
• CFN Rating
• Metrics Best Practices
• VoC
CFN Data
Mining data for insight
Summary - Why CX?
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Deliver your brand promise
Simplify the customer journey and turn fragmented experiences into
seamless omni-channel ones
Shorten the buying cycle
Drive actions and innovations to differentiate your business
Drive bottom-line results:
Reduce churn
Increase loyalty, retention and referrals
Greater customer lifetime value
Summary - Keys to success
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Align customer experiences with the company’s capabilities
Align CX initiatives with business results
Senior management ownership
Create a map of the current and desired journeys. And tie it to real-time
data, metrics and dashboards
Go for quick wins
Benchmark - because your customers are doing it all the time!
Thank you and discussion
25
Clinton Bell
[email protected] | 07941 227512
@DigitalCXetc
https://uk.linkedin.com/in/clintonbelluk
