Tailoring the Student Experience around

building a Customer-Centric Culture

Dr Linden Brown MarketCulture Strategies Pty Ltd.

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Disruption

WHY IS CUSTOMER CENTRICITY CRITICAL NOW?

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Social MediaExpectations

DisruptionCommoditization

KRYPTONITE FOR DISRUPTORS

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CUSTOMER CENTRICITY DEFINED

IT'S ABOUT CULTURE

Capability to understand, predict and respond to customer, market and competitor dynamics.

Transcend individual departments and functions and be an integral part of the way all employees behave and perform.

Based on a mindset: “What’s best for the customer is best for the business.”

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COMPANY CENTRIC VS. CUSTOMER CENTRIC

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CUSTOMER CENTRICITY DEFINED

JEFF BEZOS - AMAZON

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CUSTOMER CENTRIC BEHAVIOURS DRIVE CUSTOMER

EXPERIENCE, LOYALTY AND PROFITABLE GROWTH

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Customer

Centric

Behaviours

The Corporate

Culture

Customer

Experience

(Evolving)

The Creation

Customer

Satisfaction +

Loyalty

(Changing)

The Outcome

The Results

Sustainability and Growth

Productivity and Profitability

New Product/Service Success

Increased Employee Engagement

The challenge?

Customer

experience lives in

the minds of your

customers:

Their perception is

reality

HOW DO YOU DEVELOP A CULTURE THAT UNDERSTANDS AND

ACTS ON CURRENT AND FUTURE STUDENT NEEDS AND

PROVIDES A SUPERIOR, CONSISTENT STUDENT EXPERIENCE?

STUDENT EXPERIENCE - EVERY TIME A STUDENT INTERACTS

WITH YOUR PEOPLE, PRODUCTS OR SERVICES.

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Companies that believe they provide a superior customer experience

THE OPPORTUNITY

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Companies whose customers agree

8%SOURCE: Bain Customer-Led Growth diagnostic questionnaire, n=362; Satmetrix Net Promoter database, n=75

“Delivery Gap” //

Expectations

80%

CUSTOMER EXPERIENCE

DELIVERS A MASSIVE ROI

Customer Experience Leaders Outperform the Market7-Year Stock Performance of Customer Experience Leaders vs. Laggards vs. S&P 500 (2007-2013)

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-10

10

20

30

40

50

60

70

80

CustomerExperience Leaders

77.7%

S&P 500 Index51.5%

CustomerExerience Laggards

-2.5%

Watermark defines Customer Experience Leaders and Laggards as the top ten and bottom ten rated public companies in Forrester Research’s 2007-2014 Customer Experience Index studies, Comparison is based on performance of equally weighted

annually readjusted stock portfolios of Customer Experience Leaders and Laggards relative to the S&P 500 Index.

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our research uncovered what these

top firms have in common

They exhibit a high level of

“customer-centric” behaviour

and decision-making

The MRI is a validated assessment that provides a benchmark of

customer-centric behaviours of employees.

8 critical success factors that provide the capability to build a

customer centric culture and therefore have highly satisfied

customers.

40 scaled questions where the employee chooses a response from

strongly agreeing to strongly disagreeing.

Open-ended verbatim questions that look for insight and common

themes.

Web based and takes approx. 20 minutes to complete.

The MRI is anonymous and therefore provides valuable feedback.

THE MARKET RESPONSIVENESS INDEX “MRITM”

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Customer Insight

The extent to which employees

monitor, understand, and act on

current customer needs and

satisfaction.

Peripheral Vision

The extent to which employees

monitor, understand and respond to

trends in the larger environment,

Political, Economic, Social,

Technical.

Strategic Alignment

The extent to which employees

understand and enact the vision,

mission, objectives and strategic

direction of the company.

Empowerment

The extent to which employees

are able to make decisions that

are best for the customer without

the explicit approval of senior

leaders.

Collaboration

The extent to which employees interact ,

share information, work with and assist

colleagues from other work groups.

Competitor Insight

The extent to which employees monitor,

understand and respond to current

competitor strengths and weaknesses.Customer Foresight

The extent to which employees

monitor, understand, and act on

potential customer needs and

opportunities.

Market Responsiveness Index TM (MRITM)

Competitor Foresight

The extent to which employees

monitor, understand and

respond to new market

entrants and potential

competitors

Customer Insight

Customer Foresight

Competitor Insight

Competitor Foresight

Peripheral Vision

Empowerment

Cross-functional

Collaboration

Strategic Alignment

LINKS TO BUSINESS PERFORMANCE OUTCOMES

FactorsCustomer

SatisfactionInnovation

New Product

Success

Profit

GrowthProfitability

Sales

Revenue

Growth

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THE MARKET RESPONSIVENESS INDEXTM

BENCHMARKS YOUR BEHAVIOURS AGAINST THE BEST

Overall Company

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High Customer Centric Culture

Performer

High Customer Centric Culture

Performer

MEASURES THE BEHAVIOURS THAT DRIVE STUDENT CENTRICITY

▪ PROVIDES A TANGIBILITY FRAMEWORK AND FOCUS

▪ BENCHMARKS THE LEVEL OF CUSTOMER CENTRICITY

▪ MEASURES RISK LEVELS OF THE DRIVERS OF STUDENT

RETENTION/LOSS AND GROWTH CAPABILITIES – LEAD

INDICATOR

▪ MEASURES ALIGNMENT OF GOALS AND VALUES WITH STUDENT

CENTRICITY BEHAVIOURS

▪ ALIGNMENT AND EMBEDDING OF VISION, VALUES AND

STRATEGY WITH CUSTOMER EXPERIENCE

▪ EVIDENCE BASED INPUT TO A TARGETED STUDENT

EXPERIENCE IMPROVEMENT PLAN

▪ CREATES BUY-IN AND CUSTOMER CULTURE ROADMAP

HOW THE MRI CAN ASSIST STUDENT CENTRICITY

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© Copyright MarketCulture Strategies 2017

A ROADMAP FOR BUILDING A CUSTOMER CENTRIC CULTURE

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1

Discover

Analyze

2

Engage

Plan

3

Ignite

Inspire and Implement

Change

4

Stick

Formalize and

Embed

5

Fortify

Maintain

• Review Customer

Centric Progress.

• MRI to Assess

Progress.

• Measure profit

Impacts of

Customer Centricity.

• Revitalization

Programs

• Build the Business

Case for Customer

Centric Culture

Change.

• High Level Culture

Assessment (20-35

Leaders).

• Measure Level of Customer Centricity

using the MRI.

• Customer Culture

Engagement Council.

• Review Vision,

Values and Strategy

for Customer Focus.

• Create Customer

Centricity

Improvement Plan.

• Leadership

Engagement and

Buy-in Workshops.

• Leadership Customer

Immersion Program

• Leadership

Communication

Program.

• Strategic Alignment

and Skills Workshops.

• Customer Immersion

Program for all

Functional Areas.

• Customer Centric

Leaders’ Best

Practices Program.

• Training Trainers/

Ambassadors

Program.

• Strengthen Customer Centric Processes -

Phase 1.

• MRI Progress.

• Update and

Refresher Skills

Workshops.

• Collaborative Town

Hall Events.

• Formalized

Recognition,

Rewards and KPIs

Systems and

Processes.

• Refine Customer

Metrics and feedback

systems.

• Strengthen Customer

Centric Processes –

Phase 2

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