Perfecting the Formula for an Exceptional Customer Experience an MHI Global webinar with TrainingIndustry.com
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Introductions Dana Palmblad EVP, Centers of Excellence MHI Global Henry Mueller EVP, Customer Experience Line of Business
About MHI Global Empowering Growth Leveraging the power of six great brands:
What is Customer Experience? Forrester defines Customer Experience as How customers perceive their interactions with your company. This includes all customer interactions, at every touch point; Navigating your website, visiting your retail location, interacting with your sales team, or calling in for service or support In terms of Customer Experience, your competition goes far beyond your direct competitors. Customers judge you based upon the best service levels they receive every day in their personal and business lives.
What is Customer Experience? Customer service shouldn t just be a department, it should be the entire company. Tony Hsieh, CEO of Zappos
The Current State of Customer Experience Customer satisfaction is declining: 80% of companies recently surveyed said they offer superior customer service, but only 8% of their customers agreed Customer-centric companies gained 43% in performance, compared to a 33.9% decrease for companies who have neglected customer experience 57% of corporations would pay higher fees for a better customer experience. 85% of B2C consumers would pay more for better customer service When social media is used to make an inquiry, consumers can count on responses only 31% of the time A 5% increase in customer retention can increase a company s profitability by 75% Customer Experience can make or break your financial success. 80% of your company s future revenue will come from 20% of your existing customers 82% of respondents had stopped doing business with companies that provide poor service 40% switched to competitors who had exceptional customer service It costs an average of 6.5X as much to attract a new customer vs. keeping an existing customer 44% of companies have a greater focus on new customer acquisition vs. 18% that focus on customer retention 76% of companies see customer lifetime value as an important an important concept for their organization
PARTICIPANT POP QUIZ How much revenue was lost in US Brands alone in 2014 due to poor customer service? (a) $35 Million (b) $90 Million (c) $41 Billion (d) $80 Billion Source: New Voice Media w
What We Believe 1. The most important decision we make as business leaders/managers is how to connect with our customers. 2. Talent is one thing, but a scalable, consistent customer experience methodology is everything. 3. Customers expect a perspective, not a sales pitch: Results and service connected to who they are - not lip service. 4. The best always find ways to improve. 5. Those that prepare best, win more and retain more business, and do so more consistently.
What We Do Help our clients compete we mean business Help our clients grow profitable revenue Bring expertise and precision to how our clients more effectively engage with their customers in a rapidly changing environment Deliver real results to our clients
The Modern Learner
PARTICIPANT POLL Are you addressing the needs of your employees as modern learners? (a) Yes (b) No w
The Learning Revolution The learning industry is in a disruptive change. Value is shifting from a LMS centric to learning experience centric models Traditional, event-based models are failing the rapidly changing needs of both the business and the learner. Blended learning is key for most companies, where 90% of learning outside the classroom; on the job & collaborative Learners want shorter, more relevant learning experiences, not more courses 34% of workforce is currently millennial and growing, 85% of millennials have smartphones and expect a social, collaborative experience
Learning that Translates into Performance Modest Performance Improvement Short Life Not Sustainable Highest Performance Greatest ROI Long Life Highly Sustainable Traditional Classroom Applied Learning Live Assignments Highly Engaged Management
High Impact Learning That Scales Instructor Led elearning Modern Learning Applying IP to real world situations, walk out with immediate progress on real opportunities, meetings and accounts Content delivery by experienced sales professionals all trainers are experienced sales professionals and sales leaders MHIG Train-the-Trainer program is highly rated and best-in-class Delivery mechanisms anytime, anywhere Engaging user-experience powered by industry-leading technology Content delivery is modular: rapid bursts, simple, just-intime Leverages latest practices in adult learning Cloud-based semisynchronous learning that delivers learning as you need it, Peer-to peer, applied learning that is socially engaging Expert Moderated, extending shared learning across larger cohorts with to deliver business-focused outcomes Learner directed and Mobile enabled, combining just-intime learning with applied learning and social interaction
Defining World Class Performance The Payoff QUALIFIED OPPORTUNITIES In the world s largest ongoing sales survey NEW ACCOUNT ACQUISTION AVERAGE ACCOUNT BILLING YOY EXISTING CUSTOMER GROWTH QUOTA ACHIEVEMENT FORECAST ACCURACY 23% 7% VALIDATED WITH RESULTS World-class outperforms all respondents on metrics examined by 23% THE ELITE World-class is comprised of a small percentage of total surveyed respondents in 2015
Defining World Class Performance QUALIFIED OPPORTUNITIES Service and support deliver qualified opportunities to sales. Using better listening and diagnostic skills, to recognize opportunities to serve beyond solving the existing issue. NEW ACCOUNT ACQUISTION AVERAGE ACCOUNT BILLING YOY EXISTING CUSTOMER GROWTH QUOTA ACHIEVEMENT FORECAST ACCURACY Every customer-facing employee needs to understand the importance of each customer interaction. Maintaining a strong brand by creating more positive defining moments. Customer Experience has a huge impact on average account billing and lifetime value of your customers; Year-over-year customer growth and customer lifetime value driven by improved retention, cross sell, up sell, and lead generation. More and more, service organizations are carrying their own revenue quota. Additionally, the impact of the customer experience on sales ability to close business is significant. Revenue forecasts improve as service and support can better predict customer retention and cross-sell / up-sell revenues
Customer Experience Results CSAT Improved improved the positive from 81.25% customer s 86.83% feedback by 4%. (6% Improved Improved increase). the SLA quality achievement of communication rate from by 18%. Employee 96.46% attrition to 99.22% The percentage of rate the non has improved answer from from 12% customers (average, went last from seven 3.6% quarters) to 1.8%. to 0% for Q3, 2015. Average call duration for English has been decreased by 44%.
Customer Experience Principles Key Factors for Establishing World-Class Customer Experience Strong executive engagement and sponsorship Adopt a proven behavioral change process Establish common service troubleshooting skills across the enterprise and team Use industry-certified training Provide positive, consistent coaching
Questions? Phone: 877.678.3380 Email: Website: Follow Us: cx@mhiglobal.com mhiglobal.com/customer-experience @MHIGCustExp
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Thank You! On behalf of TrainingIndustry.com, thanks to: Today s Speaker: Dana and Henry Our Sponsor: MHI Global All of you for attending! Questions or Comments? Please contact Amanda Longo: alongo@trainingindustry.com