Maximizing RevenueBy Identifying Invisible Sources of Customer Struggle

Andrew Gough

The Need for The What and the Why

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ONLINE CHANNEL88% of Web buyers abandoned an online shopping cart without completing a transaction.

MOBILE CHANNEL2011 online sales via

mobile devices up 300% over 2010

63% of all online adults are less likely to buy from the same company via other

channels if they experienced a problem

with a mobile transaction 

MOBILE CHANNEL2011 online sales via

mobile devices up 300% over 2010

63% of all online adults are less likely to buy from the same company via other

channels if they experienced a problem

with a mobile transaction 

Empowered customers are demanding a superior digital experience

CONTACT CENTER

75% of consumers move to another channel when online customer service fails,

86% use multiple channels and spend 4 to 5 times more than average

CONTACT CENTER

75% of consumers move to another channel when online customer service fails,

86% use multiple channels and spend 4 to 5 times more than average

Perspective80% of CEOs think they deliver a superior customer experience, 8% of their customers agree

Tealeaf capturesEvery customerEvery interactionEvery time

4 © 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.

What is Struggle?• Attempting a process such as as a

web form or online applicationmultiple times and failing

• Putting a product in a shoppingbasket but not purchasing it

• Spending an exceptionalamount of time on a pagethat should only take a shortperiod of time

Record and Analyze Every Journey

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All actions

All interactions

All customer experience obstacles

Experience Your Customers

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Leading UK Mortgage Lender reclaims 2-3 mortgages per day

saves $180M annually

8 © 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.

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• Wells Fargo Call Centre Agents who use Tealeaf to assist customers have a Call Handling Time 14 minutes less per call than those who do not use Tealeaf

• Wells Fargo never do a rollout without testing the site with Tealeaf first, even after functional and load testing

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"Tealeaf's software enables our bankers to better understand our customers' behaviors online in order to stay a step ahead of their

needs.

Bankers are able to identify and prevent problems immediately, as well as identify

customer training needs."

© 2012 IBM Corporation

Central Insurance reduces average call resolution time

24 hours to 10 minutes

1111

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All Green?

© 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.12

“I can’t count the number of times that all the dashboard lights are green, but the call centres are inundated with

customer issues.”

- Citizens Bank

© 2012 IBM Corporation

KwikFit Insurance improves conversion rate

by 40%

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© 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.14

TURKISH BANK 1 WEEK PILOT

$60M annuallyin otherwise lost revenue

DUE TO AMBIGUOUS ERROR MESSAGES

14 © 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.

All reference customers achieved a positive ROI.In several cases, the product set paid for itself during the proof-of-concept period. Gartner Group

© 2012 IBM Corporation

The Cost of Doing Nothing?

$250K per month*

Source: A commissioned study by Forrester Consulting, “The Total Economic Impact of Tealeaf’s Customer Behavior Analysis Suite.” July 2011

© 2012 IBM Corporation

Typical Benefits

1%+ improvement in customer retention rates from better site experience.2

60%+ reduction in IT and development costs associated with problem reproduction and resolution.

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3.5%+ increase in site conversion rates.1

10%+ reduction in IT and development costs associated with better prioritization of site projects and project avoidance.

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0.5%+ improvement in average order value from better customer experience.

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16 © 1999 - 2012 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.

Creating the Business Case

Three-Year Risk Adjusted Results

ROI: 506%Payback Period: 4.21 monthsTotal Net Present Value: £5,814,022Total Costs (PV) £1,148,839Total Benefits (PV) £6,962,862

Source: A commissioned study by Forrester Consulting, “The Total Economic Impact of Tealeaf’s Customer Behavior Analysis Suite.” July 2010

Summary: 3-Year ROI

Note: Benefits found in this study were not risk adjusted and were achieved over a three year period.

Creating the Business Case Fully Realized Benefits (Present Value of Total of 3 years)• Increase in Revenue = £4,596,696• Reduction in IT Costs = £537,916 Reduction in Disputes & • Fraudulent Transactions=£449,378• Reduction in Customer Service Center costs = £1,378,872 Total = £6,962,862

Benefits at Year 3

Popular Tealeaf Use Cases in Finance• Increase revenue by ensuring a great online customer experience that promotes cross

selling opportunities and drives higher customer retention rates.

• Successfully recover abandoned or struggling customers by proactively reaching out to them and recoup valuable revenue.

• Reduce the time spent identifying and resolving usability and technical problems, including complex UI issues that are often associated with privacy and security requirements (two-factor authentication mechanisms).

• Improve customer support call resolution rates by immediately understanding and effectively responding to customer issues.

• Effectively manage online customer disputes with records of actual interactions.

• Drive adoption of online self-service applications to provide more convenient service to your customers (and employees) while lowering the cost of each interaction.

Maximizing RevenueBy Identifying Invisible Sources of Customer Struggle

Andrew Gough

Thank you!