TCELab Sales Affiliate Overview Summer 2013 The Why, What and How Total Customer Experience Management #TCE #CEM
Nov 01, 2014
TCELab Sales Affiliate Overview Summer 2013
The Why, What and How
Total Customer
Experience Management
#TCE #CEM
TCELabWhat is Customer Experience Management?
The process of understanding and
managing your customers’ interactions with and perceptions
of your brand / company
Copyright 2012 TCELab
TCELab
http://blogs.forrester.com/nigel_fenwick/13-06-27-why_customer_experience_will_become_the_1_cio_priority
CIOs ranked customer relationship management (CRM) as their No. 8 technology priority for 2012, according to a global survey of CIOs by Gartner, Inc.’s Executive Programs. CRM moved up from the No. 18-ranked technology in 2011. Additionally, Gartner’s 2012 CEO Survey found that CEOs cited CRM as their most important area of investment to improve their business over the next five years.
Why do CEO’s care? Becoming #1 priority …
TCELabWhy are we (TCELab and YOU) excited?
CEM Industry
Big Data Industry
Business Analytics Software Industry
http://wikibon.org/wiki/v/Big_Data_Vendor_Revenue_and_Market_Forecast_2012-2017 http://www.marketsandmarkets.com/PressReleases/customer-experience-management.asp http://www.idc.com/getdoc.jsp?containerId=prUS24194613
$7.2B to $47.8B 2011-2017 31% CAGR
$2.68B to $6.61B 2012-2017 19.8% CAGR
$34.9B in 2012 8.7% YOY growth Asia/Pacific 13.4% YOY growth
TCELab
TCELabOur accessible Big Data opportunity
$0.49B to $7B
TCELabCEM Program Components
Strategy Vision, Value, Culture!
Governance Executive Ownership, Decision-Making, Accountability, Compensation
Business Process Integra4on Automated, Closed-looped, Customer Relationship Management and Business Intelligence
Integration, Lifecycle Management, Communication
Method
Data collection, Contact Management, Sampling
Methodology, Survey Questions!
Repor4ng
Analysis, Benchmarking, Micro and Macro Improvements,
Dissemination Practices!Research
Business Impact, Financial, Operational and
Constituency Linkages, Use of Customer Information!
TCELabDisparate Sources of Business Data
1. Call handling ,me 2. Number of calls un,l resolu,on
3. Response ,me 4. Sources: phone, email, social
1. Revenue 2. Number of products purchased
3. Customer tenure 4. Service contract renewal
5. Number of sales transac,ons
6. Frequency of purchases
1. Customer Loyalty 2. Rela,onship Sa,sfac,on
3. Transac,on Sat. 4. Sen,ment
1. Employee Loyalty 2. Sa,sfac,on with business areas
Operational
Partner Feedback
1. Partner Loyalty 2. Sa,sfac,on with partnering rela,onship
Customer Feedback
Employee Feedback
Financial
1. Frequency of use 2. Dura,on of use 3. Frequented areas 4. Crash & bug reports 5. Region 6. Customer type 7. Customer profile; Demographics like gender, age
8. SaaS ,ers
Product Quality, Software Use,
Adoption
TCELabIntegrate Data to Answer Different Questions
• Linkage analysis answers the questions: – What is the $ value of improving customer satisfaction/
loyalty? – Which operational metrics have the biggest impact on
customer satisfaction/loyalty? – Which employee/partner factors have the biggest impact on
customer satisfaction/loyalty?
Opera,onal Metrics
Transac,onal Sa,sfac,on
Rela,onship Sa,sfac,on/
Loyalty
Financial Business Metrics
Cons,tuency Sa,sfac,on/
Loyalty
TCELabIntegrating your Business Data
Customer Feedback Data Sources Relationship
Survey (satisfaction/loyalty to
company)
Transactional Survey
(satisfaction with specific transaction/interaction)
Social Media/ Communities
(sentiment / shares / likes)
Business D
ata Sources
Financial (revenue, number of sales)
• Link data at customer level
• Quality of the relationship (sat, loyalty) impacts financial metrics
N/A
• Link data at customer level
• Quality of relationship (sentiment / likes / shares) impacts financial metrics
Operational (call handling, response time)
N/A
• Link data at transaction level
• Operational metrics impact quality of the transaction
• Link data at transaction level
• Operational metrics impact sentiment / likes/ shares
Constituency (employee / partner feedback)
• Link data at constituency level
• Constituency satisfaction impacts customer satisfaction with overall relationship
• Link data at constituency level
• Constituency satisfaction impacts customer satisfaction with interaction
• Link data at constituency level
• Constituency satisfaction impacts customer sentiment / likes / shares
TCELabThree Ways to Grow a Business
Business Programs
Marketing
Sales Service
1. Retention Behaviors
Customer Renews
2. Advocacy Behaviors
Customer Acquisition
3. Purchasing Behaviors
Customer Buys More
Customer Lifetime
Value Firm Value
TCELab measures all types of customer loyalty
1 RAP refers to Retention, Advocacy and Purchasing Loyalty Indices. NPS refers to Net Promoter® Score.!
TCELabWhat does TCELab do?
Where and what is your existing data? How is it organized? Velocity, Variety, Volume.
What do you currently use for Voice of Customer? Are you measuring customer loyalty? Do we need to augment or shift? Consider RAPID Loyalty Dimensions?
It’s all about cause and effect. And math. RAPID Measurement and Linkage Analysis = our “Magic”
Yes, please. Sustaining requires C-Suite and corporate culture to embrace and train customer centric leadership
What things REALLY have an impact on future revenue growth?
Optimized? ROI … spend more money on the things that matter most to customers.
We combine Big Data and VOC metrics and apply predictive analytics to identify correlates of customer loyalty and sustained revenue growth=Optimize your ROI.
TCELab
Financials
Voice of Employee
Voice of Partner
Voice of Customer
Product Quality
Operational Metrics
TCELab can help no matter where the company is in their CEM journey
1 11
Sophistication of Business Intelligence
Com
petit
ive
Adv
anta
ge
- Establish VOC practices - Establish satisfaction / loyalty measurement;
typically either NPS or RAPID - Create “Single Source of Truth” data set - Establish Big Data technical architecture - Customer KPI’s - Recognize trends - Root cause and driver analysis
- Proactive vs. Reactive (Trend Analysis) - Customer Impact Analysis - Risk Awareness - New revenue growth - Churn reduction - Increased ARPU - Closed loop client feedback - Social and verbatim
sentiment analysis - Business Intelligence
Dashboards - Customer centric
customer and employee goals
TCELabHow do we do it? CLAAP
• Integrate existing big data • Code and execute transactional and customer relationship surveys
(on browser / tablet / mobile) • Manage email and reminder campaigns to harvest responses • Create text and social sentiment analysis • Mathematical correlations, predictive analytics, linkage analysis • Automated reporting engine
Customer Loyalty as a Platform (CLAAP)
TCELabWhat do we have to offer clients?
Products / Services: 1. CRD Voice of Customer Survey
(ERD Employee & PRD Partner also available)
2. TCEAudit and TCELinkage
3. Co-sponsored industry market leader loyalty research whitepapers
TCELabWhat can clients expect for timing?
Week 1-2! Week 3-4! Week 5-6! Week 7-8! Week 9-10! Week 11-12!
Goals!Big Data!Finalize!Canvass!Analysis!Report!
Align!Review!
Questions!Collect VOC data!
Insights!Communicate!
The CRD Survey process can take from 6 to 12 weeks. “If you’ve got board or team strategy meetings happening in the next few months, the time to start is now.”
DRIVER ANALYSIS CASE STUDY
SaaS iPad and Cloud Accounting Software
CRD: Customer Relationship Diagnostic
Kashoo posted 75% YOY growth using results from last summer’s CRD survey.
Case study
• SaaS Software Company
TCELab“CRD Customer Survey” Driver Matrix
Imp
act
Lo
w
Hig
h
Key Drivers INVEST in these areas. FIX and IMPROVE these product attributes. Improvement in these areas are predicted to attract new customers (advocacy), increase purchasing behavior (purchasing) or retain customers (retention)
Hidden Drivers LEVERAGE as strengths in order to keep current customers loyal ADVERTISE as strengths in marketing collateral and sales presentations in order to attract new customers (advocacy), increase purchasing behavior (purchasing) or retain customers (retention)
Weak Drivers
DISREGARD as lowest priority for investment. These areas have relatively low impact on improving customer loyalty
Visible Drivers
CONSIDER as strengths in marketing collateral and sales presentations in order to attract new customers EVALUATE as areas of potential over-investment
Low High Performance
Driver Matrix helps us prioritize investments
1. Key Drivers – Fix and
improve these product attributes.
2. Hidden Drivers – Focus on these features in marketing to grow customer base.
3. Visible Drivers – Consider features in marketing to grow customer base.
4. Weak Drivers – Disregard as priority for investment.
TCELabDriver Chart: Predicting Retention Loyalty
§ Predic,ng Reten,on Loyalty
0.00
0.05
0.10
0.15
0.20
0.25
0.30
6.00 6.50 7.00 7.50 8.00
Impa
ct o
n R
eten
tion
Loya
lty
(cor
rela
tion
betw
een
busi
ness
attr
ibut
es
and
Ret
entio
n Lo
yalty
Inde
x)
Performance on Business Attribute (Customer Rating)
To improve retention loyalty, you may consider focusing on following areas:
1. Reports 2. Future Product /
Company Direction 3. Banking / Bank
Reconciliation
Can also correlate dimensions of company improvement with “Paid vs. Trial,” “Active, non-active, dormant” & “iPad, iPhone, Android, Web” users
As a TCELab Sales Affiliate, you’ll have a lot of content at your fingertips to help you engage new leads as well as to encourage existing accounts: • White papers • “TCE” book on Amazon • Presentations • Industry research • Webinars • Videos • Blogs • Dr. Hayes guest blog posts on
IBM, Oracle, Forbes, etc… • Access to our Online
“intranet”: • Product pricing sheets • Template Contracts • Sample surveys • Sample reports
THANKS! Welcome to Awesomeville.
[email protected] www.tcelab.com 1.888.243.4756 40 Warren Street, 3rd Floor Boston, MA 02129 USA