do you have the right customer experience strategy?

By Kate Feather

DO YOU HAVE THE RIGHT CUSTOMER EXPERIENCE

STRATEGY?

Want the handouts? info.peoplemetrics.com/elfa

By Mark Tomaselli First American Equipment Finance

What You Will Learn Today

1. What customer experience really is.

2. The 5 elements of a successful customer experience strategy (and 2 that differentiate).

3. Where you should focus in 2016.

William Henry Perkin (1838-1907)

August Wilhelm Von Hoffman (1838-1907)

Royal College of Chemistry

in London

Let’s cure malaria!

Don’t we all take work

home?

Chemical mauveine

Look familiar?

How about this?

Yards and yards of purple fabric goes on top

For Perkin, this stuff…

…became this stuff.

Honestly,

why is purple mucus important to me?

Open your mind.

Historical context is key to understanding.

1900 - 1960 AGE OF MANUFACTURING

1960 - 1990 AGE OF DISTRIBUTION

1990 - 2010 AGE OF INFORMATION

We have entered a new age.

2010 - ? AGE OF THE CUSTOMER

So, what is customer experience?

The best companies are the ones who strive to leave the safety net

behind. For good.

Why does it matter?

Source: Watermark Consulting (2015)

“…customers who had the best past experiences spend 140%

more compared to those who had the poorest past experience.”

“…on average, a member who gives the lowest score will likely

only remain a member for a little over a year. Compare that to a member who gives the highest

score — they are likely to remain a member for another six years.”

Source: HBR, The Value of Customer Experience, Quantified (August 2014)

33 pts

42 pts

40 pts

27 pts

In PeopleMetrics own research, growth Banks adopt customer-centric disciplines more than non-growth banks.

Source: PeopleMetrics (2013)

Let’s see how ready you are.

EXECUTIVE BUY-IN

EDUCATE AND ENGAGE

TARGET CUSTOMERS

UNDERSTAND CUSTOMERS

LISTEN TO CUSTOMERS

5 Elements of a Successful CX Strategy.

Want the handouts? info.peoplemetrics.com/elfa

Customer Experience Assessment

Activity Time

UNDERSTAND CUSTOMERS

LISTEN TO CUSTOMERS

EXECUTIVE BUY-IN

EDUCATE AND ENGAGE

TARGET CUSTOMERS

5 Elements of a Successful CX Strategy.

EXECUTIVE BUY-IN

EDUCATE AND ENGAGE

TARGET CUSTOMERS

UNDERSTAND CUSTOMERS

LISTEN TO CUSTOMERS

EXECUTIVE BUY-IN

EDUCATE AND ENGAGE

TARGET CUSTOMERS

UNDERSTAND CUSTOMERS

LISTEN TO CUSTOMERS

Fanatical SupportTM fuels growth

47% 18% 24% 31% 28% 15% 13% Yearly growth %

EXECUTIVE BUY-IN

EDUCATE AND ENGAGE

TARGET CUSTOMERS

UNDERSTAND CUSTOMERS

LISTEN TO CUSTOMERS

In an increasingly price competitive world, differentiating on the client experience was

Signature’s last line of defense.

In 2006, we identified ACCOUNTABILITY as key to their success…

Email Alert Generated to Individual(s) Responsible

Customer Submits Survey

Email Invitation to Brief Online

Survey

Customer Has Experience

Actions Tracked Online

Action Is Taken

Data is Aggregated and Analyzed

Take Action to Improve Customer

Experience

Daily shift meetings

25pt lift in engagement

16,000 fewer problems

30% increase in revenue

24% increase in worldwide locations

Where should you focus first?

Want the handouts? info.peoplemetrics.com/elfa

One Year Plan Activity Time

Successfully Executing Activity Time Want the handouts?

info.peoplemetrics.com/elfa

Your turn.

Summing Up – You Tell Me

• What is customer experience (really)?

Summing Up – You Tell Me

• What is customer experience (really)?

• What are the 5 elements of a successful CX Strategy?

Summing Up – You Tell Me

• What is customer experience (really)?

• What are the 5 elements of a successful CX strategy?

• What is your priority for 2016?

Thank You! Questions?

Kate Feather, EVP kate.feather@peoplemetrics.com 215.979.8037

@katefeather

Want the handouts? info.peoplemetrics.com/elfa