Cx Framework. Raguram Sr. VP, Business Transformation Services Sep 2015

Transcription

1 Cx Framework Raguram Sr. VP, Business Transformation Services Sep 2015

2 Insight 1: Customer Experience (Cx) is the only sustainable differentiator for the brand.

3 Customers take control 86% 1% 89% of consumers will pay more for a better customer experience of consumers feel their expectations for a good experience are met of consumers switched to a competitor after a poor experience Mass media Internet/1:1 Social/Mobil e Source: RightNow Customer Experience Impact Report (2012), based on a survey conducted by Harris Interactive 3

4 Correlation between Cx leaders and Business returns Cx leaders outperform the market by >30% and out perform laggards by ~76%. * Courtesy: Forrester research & Water monk Consulting. 6 years stock performance

5 Insight 2: Customer Experience (Cx) is a continuum.

6 The Grand Disconnect Need > Research > Select > Buy > Use > Recommend Social Mobile Store Call Center Website ecommerce Individual disconnected interactions? or the connected customer journey?

7 Insight 3: There is no uniform definition for Cx and no standard framework for Cx.

8 Do we understand: Customer Centricity Vs Customer Experience Definition of Customer Experience. Key aspects for a Cx framework Difference between CLM, Customer interaction services.

9 TBSS - Inside-Out & Outside-In approach Customer Centricity IMPACT INNOVATION ISSUES / OPPORTUNITIES INSIGHT Customer Experience (Cx) 5 Big forces Customer Promise: TATA group s Customer Centricity framework Cx: TBSS Business outcome focus

10 Cx Definition: Cx= nn ii=00 {BBBBBBBBBB pppppppppppppp ii, BBBBBBBBBB eeeeeeeeeeeeeeeeeeee ii }.in simpler terms The essence of your Brand is Cx.

11 Brand Expectations.. Customer Acquisition Grow Revenues MARKETING Increase Awareness Customer Loyalty Enhance Experience SALES Increase Revenue SERVICE Increase Satisfaction Customer Retention Enable Efficiency 12

12 6 Honest serving men I keep six honest servingmen They taught me all I knew; Their names are What and Why and When And How and Where and Who Who are your Customers? What do they want? Why should they buy your products? When will they buy? Where will they buy from? How will you retain them for life?

13 Cx Framework Key questions? What are the desired business Outcomes? 1. What is your business and Cx Strategy? 2. How do you design your Products and Services? 3. What do you know about your Customers & their preferences? 4. How do you map Customer s life cycle journey? 5. How do you engage your customers? 6. How do you interact with your Customers? 7. What are the enablers to your Cx framework?

14 Cx Framework Key 7 domains Business Outcomes 1. Client s BUSINESS & CX STRATEGY 2. Product / Services Lifecycle Management 3. Customer Insights & Governance 4. Customer Life Cycle Management 5. Cx Operations 6. Customer Interaction management (Omni Channel) 7. CX Enablers

15 Digital waves 2015 to 2020 Digital 3.0 wave: 2005 to today Hyper connectivity - IoT Business Insights - Big Data Automation - Robotics Decision making - Artificial Intelligence Digital 2.0 wave: 1995 to 2005 Digital 1.0 wave: , Chat Dot Com Social, Personalization Social Media Virtualization Cloud Business Insights - Analytics Access - Mobility Content - Interactive & Video Commerce - Digital Wallets Skills: Consulting Integration Analytics Digital Marketing Development Functionality: Omni Channel Marketing Automation Big data Automation Outcomes: Grow revenues Enhance Experience Enable Efficiency

16 Digital is transforming Cx in a Big way. Services of Engagement - Cx Operations Marketing & Sales Operations Customer Care & Loyalty Services FAO HCM Reporting & Analytics Services Systems of Records & Insights - CRM Platforms Marketing Automation Sales CRM Service CRM F&A HRSS SCM T&E Analytics & BI Loyalty & gift management Payment management Systems of Interaction Customer Interaction ACD IVR Diallers CTI Social Media Web Agency Chat Collaboration Mobile Real time, Personalizati on Cloud & Mobility Omni Channel TBSS Digitalization Infrastructure & Facilities Physical, Communication & Technology Infrastructure

17 TBSS CX Framework Business Outcomes Grow Revenues Enhance Experience Enable Efficiency Cx Strategy Product LCM Insights & Gov CLM Customer Acquisition Brand Values Target Segment Acquire TBSS CX Framework Customer Retention & growth Segmentation Target Experience Design Development Testing Deployment Enhancement Retire Big Data BI MIS VOC CSAT CDI NPS TARGET ACQUIRE ONBOARD SERVE GROW RETAIN Cx Operations Omni Channel Cx Enablers Consulting & Audit Services Voice IVR Marketing Operations Chat Sales Operations Customer Service Operations People Platforms Process Partners Back Office Operations Mobile Agency Video Social Text Kiosk Mail Program Life Cycle Mgmt Store Digital Transformation TBSS Expertise

18 Cx value to brands Grow Revenues Enhance Experience Enable Efficiency Increase Sales & Adoption Generate more MQL, SQL Increase conversion rate Increase average order size Cross Sell, Upsell products Build Trust & Strengthen Relationship Improve CSAT, NPS, CDI Improve service quality and reliability Drive loyalty and advocacy Reduce Cost & Effort Increase self-service success Reduce cost per interaction Improve service productivity

19 Recommendations Understand how 5 Big forces are affecting your brand. Develop and balance Inside-out and Outside-In perspectives. Focus on strengthening the enablers (4P) People, Process, Platforms and Partners. Have an agile model to develop and test proto types to see Cx impact. Have a phase wise Digital adoption plan for all Customer facing initiatives. Adopt a Cx framework that suits your brand. Talk to experts in TBSS if you need help.

20 Finally the secret recipe for success. CQ + PQ > IQ

21 About the author Entrepreneurial thinker Filter Coffee lover Interests in Yoga, Cx & philosophy Lousy Singer More at: and