M-commerce: Experience Matters September 9, 2011 © 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary. September 9, 2011 9:00 – 9:30 AM Janet Jaiswal
Jan 17, 2015
M-commerce: Experience Matters
September 9, 2011
© 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.
September 9, 2011
9:00 – 9:30 AM
Janet Jaiswal
Agenda
›What does Customer Experience mean?
›Why does it matter?
› How does Customer Experience help my bottom line?
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›What should I be doing?
› Example of customer experience measurements
› Q&A
Tealeaf is the Leader in OnlineCustomer Experience Management
• 400+ Enterprise Customers; 30% of Fortune 100
• 7 of the 10 largest US banks
• Increase mobile and web conversion rates
• Improve customer satisfaction and retention
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• Improve customer satisfaction and retention
• Reduce IT and support costs
• Improve customer service efficiency
Improving online customer relationships
one experience at a time
What Does Customer Experience Mean?
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Customer Experience Mean?
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92:1
Companies typically spend $92 to bring customers
to their site.
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92:1But only $1
to convert them.
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Removing obstacles to customer success
Usability issues
Perfect the online experience by:
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Usability issues
Application issues
Site errors
System issues
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Why Does Mobile Customer Experience Matter?
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Customer Experience Matter?
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Mobile Challenges
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Many companies lack visibility into the mobile channel
• Why am I getting negative reviews?
• What is working and what is not and why?
• Should I add features or expand to other platforms?
• Why are conversion rates lower on mobile?
Users have high expectations of mobile
47%
80%
85%
50%
60%
70%
80%
90%
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0%
10%
20%
30%
40%
Experience on the
phone should be better
than in-store
Experience should be
better than or equal to
in-store
Experience should be
better than or equal to
using laptop or desktop
Source: 2011 Harris Interactive Survey of Mobile Transactions for Tealeaf
Poor Experience Matters
Mobile financial service capabilities had more impact on a consumer’s decision to select a bank than….
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select a bank than….
Source: Mercatus LLC and Visa Inc. Dec 2010 study
the availability of online banking, access to ATMs or nearby branches.
Poor Experience Matters
63% of users would be less likely to buy
from the same company via other purchase channels (online, in store) if they encountered a mobile transaction problem.
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84% of users experienced problems when
conducting online transactions on mobile devices.
Source: 2011 Harris Interactive Survey of Mobile Transactions for Tealeaf
Problems encountered in the mobile channel
Unable to complete a
App/ website was
difficult to navigate
Received an error
message
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0% 10% 20% 30% 40% 50%
Automatically kicked off
Trouble logging in
Unable to complete a
transaction due to an
endless loop
Bad customer experiences are more dangerous than ever
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78% of users who
encounter problems completing mobile transactions share those experiences with others
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How do you find out about bad customer experiences?
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Will Good Customer Experience Help my Bottom Line?
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The Benefit of Becoming Customer
Centric?
$3M+ per year*
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$3M+ per year*
Source: A commissioned study by Forrester Consulting, “The Total Economic Impact of Tealeaf’s Customer Behavior Analysis Suite.” July 2010
The Benefit of Becoming Customer Centric
Customer Experience (CXP) Leaders vs. Laggards
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Source: Forrester Research Analyst Harley Manning’s blog: http://blogs.forrester.com/harley_manning/10-03-19-cxpi_vs_stock_performance
Enterprise-wide Benefits
1%+ improvement in customer retention rates from better site experience.2
3
3.5%+ increase in site conversion rates.1
0.5%+ improvement in average order value from better customer experience.
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60%+ reduction in IT and development costs associated with problem reproduction and resolution.
3
10%+ reduction in IT and development costs associated with better prioritization of site projects and project avoidance.
5
value from better customer experience.
4
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What Should I be Doing?
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Know your mobile customers
Measure
• All online services (mobile apps, mobile web, desktop web, contact center, social media)
• Identify what you want to measure
Learn
• Understand your user base
Measure
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• Understand your user base
• Identify and eliminate customer struggle (not just site errors)
Optimize
• Develop goals, measure and improve performance
– Key Performance Indicators
› Acquisition?
› Engagement and retention?
› Monetization?
LearnOptimize
Understand your entire mobile environment
• User Behavior
– Screens Viewed, Referring Screen
– Text Field, Text Field Value
– Touches, Motion
– Etc.
• Environmental
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• Environmental
– Site & App Version, OS version, Device Model
– Device Orientation
– Carrier, GPS
– Etc.
• Application Health
– Exceptions, Crash
– Server Connection Success/Errors
– Etc.
Identify your Key Performance Indicators
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Know what to measure to make smarter decisions:
New accounts opened
Total Payments Sent
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Know what to measure to make smarter decisions:
Conversion by Channel
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Early warning system into customer struggle
Cross-channel visibility into key metrics
Know what to measure to make smarter decisions:
New Release Errors
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Early warning system into customer struggle
Cross-channel visibility into key metrics
Improving customer experience:Key takeaways for mobile
1. Better visibility into customer issues
2. Faster trouble isolation and resolution
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If you don’t, your competition will
resolution
3. Higher customer satisfaction
4. Identify new service opportunities
Thank You
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Janet A. JaiswalSr. Director of Product [email protected]