Tailoring a Balanced Scorecard for your Customer Service Offering that Strengthens your Brand

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1 Tailoring a Balanced Scorecard for your Customer Service Offering that Strengthens your Brand Bruce D. Temkin VP & Principal Analyst Forrester Research April 13, 2010

2 What Distinguishes The Worlds Best Brands? Source: Interbrand s Best Global Brands 2009

3 What Distinguishes The Worlds Best Brands? Did anyone say average handle time? Source: Interbrand s Best Global Brands 2009

4 Customer Service Is More Than A Cost... It s A Moment Of Truth That Shapes Your Brand!

5 How important are the following factors in your decision to do business with these firms? Banks Insurance providers Medical insurers Retailers Investment firms Hotels Credit card providers Internet service providers Airlines Wireless service providers TV service providers PC manufacturers 58% 74% 68% 78% 58% 72% 75% 73% 75% 72% 73% 66% Low prices Base: US online consumers Source: Forrester s North American Technographics Q Customer Experience Online Survey

6 How important are the following factors in your decision to do business with these firms? Banks Insurance providers Medical insurers Retailers Investment firms Hotels Credit card providers Internet service providers Airlines Wireless service providers TV service providers PC manufacturers 89% 58% 87% 74% 86% 68% 85% 78% 84% 58% 83% 72% 82% 75% 82% 73% 82% 75% 82% 72% 80% 73% 77% 66% Good customer service Low prices Base: US online consumers Source: Forrester s North American Technographics Q Customer Experience Online Survey

7 We examined satisfaction across four key customer touchpoints

8 We examined satisfaction across four key customer touchpoints Net satisfaction rates: satisfied consumers minus dissatisfied consumers Research product or service Purchase product or service Use product or service Get customer service Airlines 76% 77% 81% 76% Banks 65% 69% 74% 60% Credit card providers 61% 67% 73% 61% Health insurance plans 54% 60% 68% 53% Hotels 82% 87% 88% 80% Insurance providers 71% 75% 76% 67% Internet service providers 58% 62% 75% 60% Investment firms 77% 82% 82% 78% Parcel delivery/shipping firms 78% 77% 80% 77% PC manufacturers 73% 74% 77% 69% Retailers 82% 81% 85% 79% TV service providers 58% 64% 69% 55% Utility providers 57% 62% 69% 53% Wireless service providers 68% 70% 73% 64% Source: North American Technographics Customer Experience Online Survey, Q4 2009

9 We examined satisfaction across four key customer touchpoints Net satisfaction rates: satisfied consumers minus dissatisfied consumers Lowest satisfaction for industry Research product or service Purchase product or service Use product or service Get customer service Airlines 76% 77% 81% 76% Banks 65% 69% 74% 60% Credit card providers 61% 67% 73% 61% Health insurance plans 54% 60% 68% 53% Hotels 82% 87% 88% 80% Insurance providers 71% 75% 76% 67% Internet service providers 58% 62% 75% 60% Investment firms 77% 82% 82% 78% Parcel delivery/shipping firms 78% 77% 80% 77% PC manufacturers 73% 74% 77% 69% Retailers 82% 81% 85% 79% TV service providers 58% 64% 69% 55% Utility providers 57% 62% 69% 53% Wireless service providers 68% 70% 73% 64% Source: North American Technographics Customer Experience Online Survey, Q4 2009

10 Customer service across generations Net customer service satisfaction rates Source: North American Technographics Customer Experience Online Survey, Q4 2009

11 Top 25 companies for customer service Net customer service satisfaction rates Source: North American Technographics Customer Experience Online Survey, Q4 2009

12 How would you describe your firm's goal for customer experience? Differentiate ourselves from all 13% firms across any industry 80% Differentiate ourselves from competitors in our industry 67% Maintain parity with other leaders in our industry 13% Keep from falling too far behind leaders in our industry Stay in the mainstream in our industry Stay slightly behind the mainstream in our industry 3% 0% 4% Base: 141 North American companies with $500 million or more in revenues Source: Forrester's Q Customer Experience Peer Research Panel Survey

13 The basic economics Do what you do so well that they will want to see it again and bring their friends. - Walt Disney Sources: Wikipedia

14 Customer experience affects loyalty Willingness to buy more products Customer experience laggards (Bottom quintile) -9.0% 17.2% Customer experience leaders (Top quintile) +8.2% Reluctance to switch Likelihood to recommend -7.4% -7.7% 14.8% 16.3% +7.4% +8.6% (Percentages are relative to industry averages) Source: North American Technographics Customer Experience Online Survey, Q4 2009

15 Three questions drive Forrester s Customer Experience Index (CxPi)

16 Forrester s 2010 Customer Experience Index 1 Barnes & Noble 2 Marriott Hotels & Resorts 3 Hampton Inn/Suites 4 Amazon 4 Holiday Inn Express 6 Kohl's 7 Costco 7 BJs Wholesale Club 7 Comfort Inn 7 Credit unions 7 Hilton Hotels 7 JCPenney 7 Macy's 14 ebay 14 Lowe's 14 SunTrust Bank 14 Target 18 Borders 18 Sam's Club 18 Vanguard 21 Best Buy 21 USAA 21 Walgreens 24 CVS 24 Home Depot 24 Sears 27 FedEx 27 Southwest Airlines 28 Fifth Third 28 ING Direct 28 Liberty Mutual 28 Old Navy 28 Toys 'R' Us 28 UPS 35 American Express 35 Apple 35 JetBlue Airlines 35 Other full-service brokerage 35 United States Postal Service 40 Charles Schwab 40 Kmart 42 Progressive 42 The Hartford 42 US Bancorp 42 Wal-Mart 46 Courtyard By Marriott 46 itunes 46 Staples 49 Edward Jones 49 Morgan Stanley Smith Barney 49 State Farm 49 Visa 53 A credit union 53 Continental Airlines 53 Marshall's 53 Office Depot 57 AAA 57 American Family 57 Farmers' Insurance 57 Geico 57 MasterCard 62 Hewlett-Packard 63 An independent insurance agent 63 Fidelity Investments 63 Wachovia Bank 66 ComEd 66 Discover 66 Florida Power & Light Company 66 Holiday Inn 66 National City 71 Allstate 71 Cablevision 71 Merrill Lynch 71 Toshiba 75 Kaiser 75 MetLife 75 TracFone 75 Travelers 79 Acer 79 AT&T 79 Delta Airlines 79 DirecTV 79 T-Mobile 79 Verizon Wireless 85 Alltel 85 AT&T Wireless 85 Humana 85 United Airlines/Ted 89 Citizens 89 Compaq 89 PG&E 92 AT&T 92 National Grid 92 Nationwide 95 Cox Communication 95 Road Runner 97 American Airlines 97 AOL 97 Dell 97 Duke Energy Source: North American Technographics Customer Experience Online Survey, Q Verizon 102 Medicare 102 Sprint 104 Wells Fargo 105 Chase 106 American Electric Power 106 Bank of America 106 Capital One 106 Citibank 106 Cox 106 JP Morgan Chase 112 Dish Network/Echostar 113 Capital One/North Fork Bank 113 Northwest Airlines 113 Other Cable TV provider 113 Time Warner Cable 117 Bank of America 118 Wells Fargo 119 Blue Shield of California 119 Washington Mutual 121 Citigroup 121 US Airways/America West 123 CIGNA 123 Qwest 125 Comcast 126 Aetna 126 Comcast 128 HSBC 129 Anthem 130 Medicaid 131 United Healthcare 132 Charter Communications 133 Charter Communications

17 Forrester s 2010 Customer Experience Index 1 Barnes & Noble 2 Marriott Hotels & Resorts 3 Hampton Inn/Suites 4 Amazon 4 Holiday Inn Express 6 Kohl's 7 Costco 7 BJs Wholesale Club 7 Comfort Inn 7 Credit unions 7 Hilton Hotels 7 JCPenney 7 Macy's 14 ebay 14 Lowe's 14 SunTrust Bank 14 Target 18 Borders 18 Sam's Club 18 Vanguard 21 Best Buy 21 USAA 21 Walgreens 24 CVS 24 Home Depot 24 Sears 27 FedEx 27 Southwest Airlines 28 Fifth Third 28 ING Direct 28 Liberty Mutual 28 Old Navy 28 Toys 'R' Us 28 UPS 35 American Express 35 Apple 35 JetBlue Airlines 35 Other full-service brokerage 35 United States Postal Service 40 Charles Schwab 40 Kmart 42 Progressive 42 The Hartford 42 US Bancorp 42 Wal-Mart 46 Courtyard By Marriott 46 itunes 46 Staples 49 Edward Jones 49 Morgan Stanley Smith Barney 49 State Farm 49 Visa 53 A credit union 53 Continental Airlines 53 Marshall's 53 Office Depot 57 AAA 57 American Family 57 Farmers' Insurance 57 Geico 57 MasterCard 62 Hewlett-Packard 63 An independent insurance agent 63 Fidelity Investments 63 Wachovia Bank 66 ComEd 66 Discover 66 Florida Power & Light Company 66 Holiday Inn 66 National City 71 Allstate 71 Cablevision 71 Merrill Lynch 71 Toshiba 75 Kaiser 75 MetLife 75 TracFone 75 Travelers 79 Acer 79 AT&T 79 Delta Airlines 79 DirecTV 79 T-Mobile 79 Verizon Wireless 85 Alltel 85 AT&T Wireless 85 Humana 85 United Airlines/Ted 89 Citizens 89 Compaq 89 PG&E 92 AT&T 92 National Grid 92 Nationwide 95 Cox Communication 95 Road Runner 97 American Airlines 97 AOL 97 Dell 97 Duke Energy Source: North American Technographics Customer Experience Online Survey, Q Verizon 102 Medicare 102 Sprint 104 Wells Fargo 105 Chase 106 American Electric Power 106 Bank of America 106 Capital One 106 Citibank 106 Cox 106 JP Morgan Chase 112 Dish Network/Echostar 113 Capital One/North Fork Bank 113 Northwest Airlines 113 Other Cable TV provider 113 Time Warner Cable 117 Bank of America 118 Wells Fargo 119 Blue Shield of California 119 Washington Mutual 121 Citigroup 121 US Airways/America West 123 CIGNA 123 Qwest 125 Comcast 126 Aetna 126 Comcast 128 HSBC 129 Anthem 130 Medicaid 131 United Healthcare 132 Charter Communications 133 Charter Communications

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22 ! Consistently delivering on brand messages that resonate with customers

23 What gets in the way of providing great customer service?

24 Reinforce brands with every interaction Making promises Communicate image Deliver value Keeping promises TV ad Radio ad Print ad Paper mail Web site Store Kiosk IVR Call center Product

25 Company brands get lost in translation Firms that agree with these statements Base: 141 North American companies with $500 million or more in revenues Source: Forrester's Q Customer Experience Peer Research Panel Survey

26 Staples lives up to its brand: That was easy. Studies customers in their homes and offices to see how they buy and use office supplies Re-designed the rebate process to eliminate customer pain 55% of people said they d make Staples their primary provider because of its rebate experience

27 Signed labor agreements with pilots and flight attendants Rolled out North of Expected campaign

28 Employee road show 10 weeks before external campaign Workgroups interpreted what the branding meant to them Be North of Expected contest

29 Companies are from Venus, customers are from Mars Companies Customers High company knowledge High interest in topic Varied understanding of customers Politics Egos Needs Desires Interests Knowledge

30 Most companies operate like this Companies Customers High company knowledge High interest in topic Varied understanding of customers Politics Egos Needs Desires Interests Knowledge

31 It s like looking in the mirror. When I looked at our organization based on our internal data, I saw Brad Pitt - SVP of Sales And Service, Large P&C insurer

32 .. But when I looked at the customer feedback data we looked more like the hunchback of notre dame. - SVP of Sales And Service, Large P&C insurer

33 Companies need to operate like this Companies Customers We need more customer service metrics oriented around customers

34 How do you create more balanced customer service scorecards?

35 Balance your scorecard across three areas 1. Cost and operational efficiency 2. Staff effectiveness and engagement

36 Balance your scorecard across three areas 1. Cost and operational efficiency 2. Staff effectiveness and engagement 3. Customer brand loyalty

37 Four steps for infusing customer brand loyalty into your scorecard 1) Articulate your customer promises Define your core brand attributes For each interaction type, identify the customer reactions that would live up to those attributes Satisfaction, ease of use, empathetic, etc.

38 Identify customer promises in 5 areas: Communication Accountability Responsiveness Empathy Solution Source: Customer Experience Matters (experiencematters.wordpress.com)

39 Four steps for infusing customer brand loyalty into your scorecard 1) Articulate your customer promises 2) Create customer feedback metrics Design end execute short customer surveys Share results with reps Define specific metrics and targets

40 Four steps for infusing customer brand loyalty into your scorecard 1) Articulate your customer promises 2) Create customer feedback metrics 3) Reinforce customer-centric behavior Celebrate customer-centric leaders Coach customer-centric laggards Identify agent best practices Refine quality monitoring for best practices

41 Four steps for infusing customer brand loyalty into your scorecard 1) Articulate your customer promises 2) Create customer feedback metrics 3) Reinforce customer-centric behavior 4) Adjust incentives for balance between efficiency and customer-centric behavior Create specific targets for customer-centric goals Define acceptable bands for efficiency goals Review performance on a 2x2 grid (efficiency and customer-centricity)

42 Does Your Customer Service Reinforce Your Brand?

43 Thank you! Bruce Temkin Blog: Customer Experience Matters

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