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Dr Catriona Wallace - Customer Experience Specialist The current convergence and integration of customer experience channels and the increasing sophistication and use of multi-media channels and devices by consumers means the consumer landscape is changing rapidly. Today, organisations are seeking to gain competitive advantage by creating a continually improving customer experience to improve loyalty and potentially reduce operational costs. In this session Catriona will outline a company-wide approach to the design and development of an omni-channel customer experience strategy discussing the use of co-creation and design thinking techniques, big data analytics and modelling. Catriona will also explore the impact of this approach on an organisations culture and the importance of having a technology roadmap for the future.
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Customer Experience Strategy & Omni-Channel Delivery
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Dr Catriona Wallace
Customer Experience Specialist
Customer Experience (CX)
Customer Experience is defined as …
….the internal response of an individual to their interactions with an organisation's products, people, processes, technologies and environments. Internal response includes the thoughts, feelings, senses, physical reactions and emotions experienced as a result of the experience.
As a result of a customer’s experience they will have a level of Engagement which is a physiological state. As a result of Engagement the customer will then display certain Future Behaviours including propensities to:
1. Recommend (NPS)
2. Purchase (Yield)
3. Renew
4. Be Retained
Customer Experience
Multi Option Channels
Channels Used by Australian Consumers
98%
Phone
84%
33%
61%
13%
47%
16% 8% 8% 10%
55%
9%
56%
Correspondence
58%
Online & Mobile
Phone
conversation
Automated phone Automated &
phone
conversation
Online phone call Web self-service Web chat Social media /
online forum
Smartphone App SMS / Text Email Other
Correspondence
Australia n=520
Contact Method Usage – Future Use: Next 12 months
38% 52%
20% 7% 16% 14%
70%
14% 21%
Online phone call Web self-service Web chat Social media /online forum
Smartphone App SMS / Text Email Letter / Fax None of these
Base: Q5 / Australia n=520
In addition to traditional phone/voice Australian consumers will use more often….
Customer Experience Strategy
Contingent Projects
Human Capital – People & Culture
Technology
Data Analytics, KPIs & Reporting
Organisational Capital
Process & Operations
Unique Customer Value Proposition(s) Customer Experience Journey(s) Customer Experience Outcomes
Aligned to Corporate Strategy
Finance
Marketing & Sales
Customer Knowledge Strategy & Voice of Customer Voice of Employee
Op
erat
ion
al M
anag
emen
t
Customer Experience Design Thinking & Customer Co-creation
CX Strategy Framework
Customer Experience Strategy Development
& CO-CREATION
ENGAGEMENT Strategic Goals
People, Process,
Technology, Communications
Multi-channel
Product & Service Roadmap
EXPERIENCE
CUSTOMER
ULTIMATE CUSTOMER KPIs
RECOMMEND ACQUIRE RETAIN YIELD
How it all…
…works together
Customer Experience Strategy Predicting Business KPIs
Customers will pay at least 10% more for Consistent Customer Experience
Question: How much more money would you be prepared to pay to a company that always provides you with an excellent customer experience compared to a company that didn’t?
10% More 20% More
30% More 50% More
75% More 100% More
24% 8% 4% 5% 0% 1%
Base: Australia n=520
42%
And Why?
There is a correlation
between organisations
that have a mature
Customer Experience
Strategy &
Measurement and
strong overall Business
Performance
(Source: Fifth Quadrant & IBM Study)
R= 0.402
Customer Experience Maturity Index vs Business Performance
Cu
sto
me
r Ex
per
ien
ce M
atu
rity
In
dex
N=150 orgs
So what do you need to know?
1. Customer Experience is a Strategy
2. CX Strategy is delivered through Omni-channel
3. Customer Co-creation is key
4. Technology strategy is the key sub-strategy
5. Data Analytics is the new killer approach
About Us Who we are: Established in 1998, Fifth Quadrant Pty Ltd is a Customer Experience Strategy, Design and Research company. We provide management consulting, customer experience design, customer research, industry analysis, data modelling, operational improvement programs and executive training programs.
We work across contact centre, face-to-face, online, social media, mobile, correspondence & video interaction channels.
What we do: We work with our clients to design and operationalise customer experience strategy in order to enhance customer experience & engagement, drive revenue through customer acquisition, retention and yield, reduce operating costs and optimise operations across multiple channels.
Fifth Quadrant conducts extensive research across the customer experience, contact centre, online, social media and mobility sectors, producing benchmarking reports that underpin our approach to consultancy with evidence-based statistics and analysis.
Currently our engagements with Boards, CEOs and Executive teams revolve around the following topics:
• Formal Customer Experience Design Methodology
• Approaches to Customer Co-Creation Design
• Multi-channel Strategy Design
• Best Practice Contact Centre design
• The Future Workplace
• The rise of Social Media and Mobility as customer interaction channels
• Data Modelling and Big Data strategies for Customer Experience
• 3 year Technology Roadmaps
• The new Consumer Power Economy – the shifting power balance between organisations & consumers
For more information please contact:
W: www.fifthquadrant.com.au
T: +61 2 9927 3333
Contact Us
