Creating An Exceptional Customer Experience How Businesses Stand Out Today. Pamela Herrmann, Founder The Paragon Effect

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Miranda Hensley
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1 Creating An Exceptional Customer Experience How Businesses Stand Out Today Pamela Herrmann, Founder The Paragon Effect

2 Reminders

3 How Can Businesses Create An Exceptional Customer Experience That Will Yield Higher Profits?

7 Customers Are Asking Are you like me? Can I trust you? Do we share the same values?

9 Banking 32% of new customers will leave within the first year. Over 20% of those people leave without conducting a single transaction! Over 50% of those people leave within the first 100 days

11 Cell Phone Industry 21% of people who sign a 2 year commitment break the contract in the first year.

12 Software As A Service 20% of their customers are leaving within 100 days

13 Most businesses don t know how many customers they re losing in the first 100 days.

14 Most Businesses Don t Know The Lifetime Value Of Their Customer

15 20-60% Attrition Rate Worldwide Across All Sectors Every Year

16 A Few Simple Tweaks Can Have A Huge Impact On A Businesses Bottom Line

17 What s sad is that most businesses are making it worse.

20 Perfect Customer Lifecycle

21 The Purpose Of Business Is To Get & Keep Customers Yet most businesses are treating it like a single transaction

23 A fully engaged customer Represents an average 23% premium in terms of share of wallet, profitability, revenue & relationship growth compared with an average customer.

24 And here s why Companies that engage both their customer AND their employees gain a 240% boost in performance related outcomes.

26 Pam, I m not that creative and wouldn t even know where to start.

27 Stagecoach Coffee, Cooperstown NY

29 Know The Lifetime Value Of Your Customer

30 Pattern Interrupt Was it expected? Was it necessary?

31 Matt was successful in creating rapport & relationship in a 7 minute transaction. Trust & loyalty in two transactions. Total cost: $2.00

32 How We Grow Sales

34 The most interesting thing about the way the Internet is shaping business is being driven by consumer behavior online.

36 People don t review businesses that are meh

37 80% of businesses surveyed believe they deliver superior customer service. Only 8% of their customers agree. Lee Resources

39 Office Depot Resulted in a 40% increase in customers who purchased something before leaving the store.

40 So now you see why it s important to master the greeting

41 Are you a member of our loyalty program?

42 The Main Street Advantage Being excellent is highly profitable: 7 out of 10 customers said they were willing to spend more with companies that provide an excellent customer experience. American Express Survey, 2011

43 Question What do we need to do to make someone feel welcomed?

44 Soft Skills Training 5 components to making someone feel welcomed

45 What They re Deciding

46 Are your coming to browse or with a purpose? How can you modif y your greeting to match their intention?

47 Disney trains their employees to SMILE when they answer the phone. We can actually hear when someone is smiling.

49 What can you expect from a customer experience? We re greeted warmly upon entering We re given a cart We re asked what brings you in today? We re walked to the location We re shown the choices We re asked questions to help determine best solution

50 We re asked what else we need help with We re acknowledged as we re waiting in line We re warmly greeted by cashier Our change is counted out for us Our name is used as we re thanked while making eye contact We re asked if we need help out

51 Core Values This is an employee up exercise, not a top down directive Helps you hire the right people who share the same values Helps you train them Values makes decisions Everyone reacts in the same way

53 So now you know Where opportunity for sales growth lies How to create a buying experience that results in lasting loyalty How to train your employees on how to be exceptional brand ambassadors

54 Think about how businesses in your community are creating an exceptional customer experience

55 Thank you! Please complete the session evaluation on the conference app before you leave the room.

The next question, having MEASURING CUSTOMER LIFETIME VALUE

The next question, having MEASURING CUSTOMER LIFETIME VALUE Small increases in customer retention rates lead to huge boosts in your overall customer lifetime profits. MEASURING CUSTOMER LIFETIME VALUE By: Robin Foster, Practice Leader for ROI Analysis, Avaya The