Your guide to creating a customer experience program that works

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1 Your guide to creating a customer experience program that works

2 CONTENTS Customer Love Stories The Customer Experience Challenge Create Customer Love Stories in 4 Steps Total Voice of the Customer Customer Journey Optimization Real-Time Personalization Single Customer View Bring It Together p2 p3 - p4 - p5 - p6 - p7 - p8 - p9

3 Customer Love Stories Customers falling in love with your brand. Now wouldn t that be nice? But with only 27% of organizations defining their customer experience efforts as very effective 1, great customer relationships are far from the norm. With many customer experience programs consisting of transaction-triggered surveys and periodic feedback polling, it s becoming clear that building true relationships with customers requires more. In this ebook we present to you the guide to creating a customer experience program that works, so you can start creating your very own customer love stories. 2

4 The Customer Experience Challenge 27% Only 27% of organizations define their customer experience efforts as very effective 2 Companies are often unable to accurately measure the impact of their efforts 52% 52% of executives find it challenging to maximize the return on investment (ROI) in a CX program 3 75% 75% of CX professionals say they cannot prioritize their efforts nor allocate resources in a way that will have the most beneficial effect on customers and on their company s revenue 4 3

5 Create Customer Love Stories in 4 Steps In order to begin creating customer love stories with effective CX programs there are four things that need to be considered Total Voice of the Customer Customer Journey Optimization Real-Time Personalization Single Customer View 4

6 Total Voice of the Customer Good communication starts with listening The first step in any successful relationship is to listen. With your customers this means really paying attention, especially to the little things. To understand customers you need to go beyond direct feedback, such as a survey following an interaction. To really listen means keying into the indirect feedback, the subtle messages your customers are giving you without even knowing it. At NICE we call this the Total VOC approach listening by capturing and applying analytics to every customer interaction across multiple channels, including phone calls, , SMS, IVR and online. With all these sources of customer information, you can begin to really get to know your customers and hear what they re telling you, even when they re not directly telling you anything. From listening to acting By combining direct and indirect VOC feedback across all channels, as well as listening for the emotion between the lines, you can reveal the drivers of customer experience and understand the root cause behind the emotion. The insights obtained from a Total VOC approach allow organizations to implement changes to address drivers of customer satisfaction. With real-time feedback analysis, at-risk customers can be identified in time to take action, making sure all customers turn into happy customers and stay that way. 5

7 Customer Journey Optimization Be there every step of the way Relationships are like journeys within the long and winding road there will be high points and some low ones. The key to successful relationships is to aim for the good times and know how to deal with the bad ones. With customers, every interaction, be it click, swipe, call or visit, is an opportunity to build on the growing relationship. To make the most of these opportunities, separate data sources, support teams and tools, as well as customer attitudes, attributes and behaviors, need to be connected and mapped across touchpoints and channels. At both the individual and aggregate level, this organized view provides an intuitive and holistic understanding of the customer and their journey. Shifts in customer behavior, key interaction patterns, agent performance, and process bottlenecks all become evident from the perspective of the customer journey. Be proactive With the comprehensive understanding of customer history and context provided by journey mapping, a CX program can incorporate proactive engagement to drive action that shapes customer behavior at each touchpoint. Tools such as machine learning and predictive analytics can be applied to the journey data to guide decisions in real time, while longer-term crosschannel strategies can be prioritized to increase business value. Measuring the effects The effects of customer journey mapping have been seen in practice, with operational costs reduced by 10% to 20%. Improved customer satisfaction (CSAT scores) have been correlated 30% to 40% more strongly with journey performance than with the customer experience at individual touchpoints along the way. Similarly, business outcomes - such as high revenue, repeat purchase, low customer churn, and positive word of mouth - have also been 20% to 30% more strongly correlated with the customer s experience of the overall journey than with any individual stop along the way. 6

8 Real-Time Personalization Meet your customer needs, as they need it They say a sign of a good relationship is finishing off each other s sentences. Well a mature CX program isn t so different by leveraging all available data, feedback and interaction analytics you can anticipate and meet each customer s particular needs sometimes even before the customer is aware of it. By tracking anonymous and authenticated behavior across all interaction channels you can begin to create a picture of the customer. Mapping out this behavior on a propensity score map provides even better information for service personalization. With sufficient instances of customer interactions and analysis of their behavior, it is possible to identify customer intentions and to personalize a response. The short- and long-term ROI Personalization, as a CX program element, has been shown to improve acquisition efficiency rates, as well as increasing up-sell and cross-sell conversions. It has also been key to reducing churn and optimizing service to meet a long-term goal, such as maximizing a customer s lifetime value (in some cases improving ROI for the CX program by an order of magnitude). 7

9 Single Customer View Seeing every customer as an individual We often think of our customers in the plural. But building successful relationships requires seeing each customer on the individual level. This may take time and is a continuous process, but the outcome is really knowing the customer and how they have interacted with you. This is called the single customer view. To establish a single customer view, many different customer data sources should be assembled to form a complete record of every interaction an individual has had with the company. These series of touchpoints or, when available, full customer journeys, can be assembled into a customer identity graph (these graphs can also be built around households or organizations). Cross-checking and correlation of information on a single customer over time creates a richer image of the individual and their personal timeline with the company. Eventually, with frequency of interactions and identifiable patterns of authenticated and anonymous online activity, the customer s behavior becomes more predictable. The value of seeing the customer as an individual A responsive and flexible identity graph creates value from customer data by: Using every interaction in all customer journeys for guiding real-time decisioning. Reducing time to insight and action by leveraging all the available data immediately to assemble the most upto-date view of any customer. Providing scalability, handling Big Data efficiently and connecting multi-channel customer journeys at any scale. Using each customer s predictive profile to create powerful insights regarding which products and services are most appropriate for each customer at any given point in time. Documenting the outcome of any outreach to customers and automatically updating the customer profile accordingly. 8

10 Bring It Together NICE Systems brings the four key elements of a modern and mature customer experience program together. Using raw data, NICE Customer Journey Solutions combine all interactions to obtain a complete view of the customer. Integrating in a solution suite real-time next best action guidance, interaction analytics and Voice of the Customer elements turns this intelligence into a dynamic, up-to-date decisioning engine for effective customer experience programs which allow you to begin building your very own customer love stories. Find out more at: 9

11 REFERENCES 1. The State Of Customer Experience Maturity, Q by Megan Burns, Forrester Research Inc., December 30, The State Of Customer Experience Maturity, Q by Megan Burns, Forrester Research Inc., December 30, Lessons from the Leading Edge of Customer Experience Management by Harvard Business Review Analytic Services, April Start Innovating with Future-State Journey Mapping by Tony Costa, Forrester Research Inc., February 11, 2015 CONTACTS Global International HQ, Israel T F Americas, North America T F EMEA, Europe & Middle East T F Asia Pacific, Singapore Office T F The full list of NICE marks are the trademarks or registered trademarks of Nice Systems Ltd. For the full list of NICE trademarks, visit All other marks used are the property of their respective proprietors. DATE 1/2016 WP-1 CONTENTS OF THIS DOCUMENT ARE COPYRIGHT ABOUT NICE SYSTEMS NICE Systems (NASDAQ: NICE) is the worldwide leading provider of enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE solutions help the world s largest organizations deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 80 of the Fortune 100 companies, are using NICE solutions.

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