a short customer experience journey
TRANSCRIPT
A Short Customer Experience Journey
Presentation for customer experience pioneers | [email protected] | February 2011
Stimmt AG | Customer Experience
TADA! | The success story of Amazon: They beat S&P 500 by 8000%
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Why is Amazon so successful?
+8000 %
+50 % S&P 500
Amazon
Stimmt AG | Customer Experience
TADA! | The boss says: Focus on customer experience made this success possible
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Why does that work so well?
«I believe that the success we had over the past 12 years has been driven
exclusively by that
customer experience.» Jeff Bezos, Founder Amazon.com
Stimmt AG | Customer Experience
TADA! | Customers by products but they pay for experiences
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Apple sells a way of life and solves many problems for their customers. That pays back.
Sell products Offer experiences Nokia Mobile
35% market share
Apple iPhone
2.5% market share
Profit '09
USD 1.6 bn. Profit '09
USD 1.1 bn.
Stimmt AG | Customer Experience
WHY? | Many industries face a buyer’s market in which traditional differentiation doesn’t work very well
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Product or price are not the most important factors for buying decisions any more.
High product quality
Price wars Abundant supply
Stimmt AG | Customer Experience
WHY?| Traditional push marketing gets less effective – customers are well informed and connected
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The goal: make customers your loyal ambassadors.
Social Media Comparison and recommendations
«If in the old world you devoted 30% of your attention to building a
great service and 70% of your attention to shouting about it, in
the new world that inverts.» Jeff Bezos, Founder Amazon
Stimmt AG | Customer Experience
WHY? | 8 benefits from competing on experience – 1 reason to start becoming an experience company: profitability
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More revenue More profit Less cost
How to get there? Forget about your company and your competitors for a while and focus on your customers.
Higher Margins Because people pay more for experiences than for products or services.
Smart cost cutting Because you know where to save without hurting your customers.
Cheaper Development Because you can develop what customers really want and need.
Fewer Complaints Because you fix problems before you go live.
Top Line Bottom Line
High protection of investment Because experience strategies are much harder to copy than products.
Higher recommendation rate Because your customers become your advocates.
Higher customer loyalty Because customers feel listened to and feel cared for.
New segments, new offering Because you can configure your offering and expand it to new experience segments.
Stimmt AG | Customer Experience
WHAT? | Good customer experience = being customer-centric
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That means: Making decisions from a customer’s point of view.
«We seek to be Earth’s most customer-centric company...»
Corporate Mission, Amazon.com
Stimmt AG | Customer Experience
WHAT? | To become an experience company: Put your customers first
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Design for your customers not for your company. They will thank you.
Know your stakeholders Analyze what they expect, what they think, how they act, what they feel. And how they would like to feel. Then you know where to go.
Design your interactions Design for the user, not for the company. And prototype, prototype, prototype.
Configure your offering Break down your silos and reassemble to enable the desired experiences.
Orchestrate your touch points Make yourself consistent and integrate seamlessly into your stakeholders’ lives.
Stimmt AG | Customer Experience
WHO? | Examples from the US: Amazon, BestBuy
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These companies gained market leadership by focusing on customer experience.
Is it good for the customer?
Best Buy launches store for and by women
Stimmt AG | Customer Experience
WHO? | Examples from the Customer Experience Network
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It is time for good customer experiences.
Stimmt AG | Customer Experience
HOW? | The overall customer experience is defined by memorable experiences with a company
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Therefore the important questions are: what creates positive or negative memories, why is that so and how can we influence this process?
Forgotten experiences have no impact
Remembered experiences influence future buying decisions
Stimmt AG | Customer Experience
HOW? | Approach and methodology
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Our approach ensures that we tackle the right topics and implement them well from a customer as well as a company point of view.
Set-up Understand Focus Create Verify Trans-
fer
focus on customer
motive interviews
site visits shadowing personas
customer journey prototypes
focus groups prototype testing
user & task analysis
process testing
Stimmt AG | Korneliusstrasse 9 | CH-8008 Zürich | +41 44 562 10 10
Good customer experience don‘t happen by accident. Stimmt.