M E M O R A B L ECUSTOMER

E X P E R I E N C EB y

A n j u m S u l t a n a

InnovationFACTORY

May: Lunch & Learn

Our Discussion…

EXPERIENCE DEFINED

WHATIMPACTS ON THE

BOTTOM LINEWHY

HOW

MANAGING CUSTOMER

EXPERIENCE

WHAT

WHY

HOW

Customer perception of interactions with an organization or a

brand

What Is Customer Experience?

Success Degree to which customers can accomplish their task

EffortThe difficulty or ease in accomplishing their task

EmotionHow the interaction makes customers feel

What Makes An Otherwise Rational Person…

Stand in line all night to buy the latest

gadget?

Save all year to visit a theme park?

Pay $5 for a cup of coffee?

Adde

d va

lue

thro

ugh

diffe

rent

iatio

n

Added value through relevance

Commodityproduct

Branded product

Personal service

Branded Experience

Customer’s Experience

Distinctive design

Empatheticdelivery

Integrated journey

Enabling more

2c coffeebeans

20c brandedcoffee

$2 coffeein store

$20 in store spend with friends

Customer Experience = BrandThe Experience Economy:Engaging with customers and connecting with them in a personal and memorable way

Source: The Experience Economy: Pine & Gilmore

$150 spent a year to earn Gold status

Customers have many different interactions

with a brand

Interactions that influence emotion

become memorable

Emotions Hold The Key To Customer Experience

Source: Forrester – Emotions Hold The Key To CX-Fueled Loyalty

Positive and negative emotions drive a customer’s experience

“I’ve learned that people will forget what you said, they will forget what you did, but people will never forget how you made them feel.

Maya Angelou

WHAT

WHY

HOW

CX As A Competitive Differentiator

81% of companies have recognized the value Customer Experience brings to the company in the long-run

Cost Reduction 79% of companies see evidence of cost savings by improving customer experience

Uplift In Profit/Revenue

84% of companies associate improved profit margins and/or revenue by focusing on customer experience initiatives

CX Is The #1 Most-Important Strategic Measure Of Performance

Source: Dimension Data – 2017 Global Customer Experience Benchmarking Report

EFFECTIVENESSThe experience delivers value to the customers.

EASEIt’s not difficult for customer to get value from the experience.

EMOTIONCustomers feel good about their experience.

RETENTIONThe likelihood that a customer will keep existing business with the company.

ENRICHMENTThe likelihood that a customer will buy additional products and service from the company.

ADVOCACYThe likelihood that a customer will recommend the company to others.

Customer Experience Quality Customer LoyaltyForrester’s CX Index

3x more likely to recommend

3x more likely to re-purchase

44% rarely or never shop around

33% would need a discount of over 20% before they would defect

63% are likely to forgive a company's mistakes

Emotionally Engaged Customers Are:

Experience Matters For Loyalty

Source: Forrester: The Canadian CX Index, 2016

Customers have many different interactions

with a brand

Interactions that influence emotion

become memorable

Emotions Hold The Key To Customer Experience & Loyalty

Source: Forrester – Emotions Hold The Key To CX-Fueled Loyalty

Memorable experiences shape

relationships

Relationships drive business

outcomes

WHAT

WHY

HOW

TECHNOLOGY

A cross-functional decision structure to align on priorities and action

GOVERNANCE

MEASUREMENTMonitor performance and

impacts across all touch points for continuous improvement

STRA

TEGY

Customer Experience Management Framework

DESIGNPEOPLE

CUST

OM

ER

INSI

GHT

S

PEOPLE

2.5x more than those with low employee engagement

Highly engaged workers grew revenue

Source: The Employee-Customer-Profit Chain at Sears, Harvard Business Review

5pt lift in employee attitudes 1.3pt lift in customer

satisfactions 0.3% Improvement in revenue= =

Employee Engagement Leads To Customer Loyalty

2% gain in employee engagement 1%Increased customer

satisfaction=

Is your company’s culture ‘People-focused’?

Do they understand their roles in the overall mission and vision of the company?

Do they exemplify your brand?

Are you providing them with the tools and resources needed to offer the best customer experience?

Do they have enough freedom to make decisions within their roles?

Are you tuned into what they think and action their feedback?

Are you measuring them on the aspects that actually impacts customer experience?

Is Your Environment Engagement-Friendly?

PEOPLERecruitment

Training

PerformanceManagement

Hiring the right fit for the brand

Empowering employees to deliver the best experience

Motivating them to do the right thing

“True customer centricity is a cultural movement at it’s core.

Mike Corak

DESIGN

Customer Journey Needs To Be Designed With The Customer In Mind

of buyers will pay more for a better customer experience86%

2/3are likely to switch brandsif they’re treated like a

number instead of an individual

Source: State of the connected customer, Salesforce

of consumers say they’re likely to switch brands if

a company doesn’t make an effort to personalize communications

52%of consumers agree they expect companies to

understand their needs and expectations 72%of customers expect

companies to anticipate their needs and make relevant suggestions before customer contact

51%of consumers say thatpersonalized or exclusive

offers and discounts influence their loyalty65%

DESIGN

Quality

Ease Personal

Contextual

Tablestakes!!

Simplicity of completing a transaction

Connected experience

Recognition of customer identity and needs

Tailored Interactions Build Customer Loyalty

Wait in lineSubmit

requested ID and Credit Card

Sign Contract Walk to Car

Check Car for Dents Open Trunk Place bags in

the trunk Enter Car

Wait to Warm-Up Drive to the Exit Show ID Drive Away

Example: Car Rental Pick-Up Experience

Eliminating Steps That Don’t Add Value For Your Customers

TECHNOLOGY

ZERO TOLERANCE FOR DIGITAL

FAILURE

FASTER THAN REAL TIME

PERFECT INFORMATION

INTUITIVE USER INTERFACE

ON DEMAND SERVICES

Connected World Has Created A Smarter Customer

TECHNOLOGYEmpowering

Enhanced

Augmenting experience to match expectations

Providing options, information & access to customize experiences

Connecting experiences to create a new customer journey

Invisible

Source: Future Proof Customer Experiences, Steven Van Belleghem

Tenants Of Digital Dominance

MOBILE FIRST

DATA ENTERPRISE

DIFFERENTIATED EXPERIENCES

OMNI-CHANNEL THINKING

PARTICIPATION

Uber is a mobile only service

Uses data to optimize routes + customer & drivers

Push 1 button and everything else is behind the scene

Other companies can use the network – i.e. Uber Eats

Drivers are almost always consumers

Source: Future Proof Customer Experiences, Steven Van Belleghem

“You’ve got to start with the customer experience and work back toward the technology – Not the other way around.

Steve Jobs

In Summary…

Have a clear vision of your brand experience

Put customers at the center of your business

Foster the culture of ‘People’ empowerment

Curate your customer journey

Embrace the power of technology

Own your brand experience!

THANK YOU!

anjums

Every Detail Matters When It Comes To Delivering An Exceptional Customer Experience

Disney Institute