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Utilizing Customer Journey Maps to Improve Your Business
SAP Hybris - Munich, Germany
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The Day After
1. The importance of great customer experience
2. Customer journey map: what is it and how to create one
3. Utilizing customer journey maps to pinpoint gaps in your customer experience to improve your business
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Key Take-Aways:
Why Customer Experience Matters
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• By 2016, companies will compete primarily on the customer experiences they deliver
• Leading customer experience is the #1 expectation CEOs have of CMOs
• It’s the area where CMOs have made the least amount of progress
Gartner Group, Inc:
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The Importance of Positive CX
1%of customers feel that their customer experience expectations are always met1
86%of customers are willing to pay up to 25% more for a better experience1
89%of customers stop doing business with a company after a bad experience1
1 negative experiencecan take...
12 good experiencesto make up for it2
30%
The average company loses up to 30% of their customers each year3
7x It costs up to 7x more to acquire new customers vs. retaining existing ones4
Enterprise companies who
raise their customer
experience score by
10%
Companies who lower their customer
attrition rates
5%
Companies who raise their customer
retention rate
10%Sources:1slideshare.net/RightNow/2011-customer-experience-impact-report 2parature.com/infographic-financialcustserv 3McKinsey 4White House Office of Consumer Affairs 5Forrester, The Business Impact of Customer Experience 6Bain & Company
Realize additional revenue of
$1billion 5
Raisecompany profits
byup to
95%6
Increasetheir value
30%6
It’s All About the Customer
“There are only three ways a company can grow. First, earn more business from your current customers. Second, attract customers from your competitors. Or third, buy another company.
If you can’t do the first, what makes you think you can earn more business from your competitors’ customers or from customers you buy through acquisition?”
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Better CX = Higher Revenue Growth
7Source:Forrester DATA, CX Index
CX doesn’t drive revenue
● Customers have one choice: Take it or leave it
● Competitors’ CX wouldn’t lure away customers even if they could switch.
CX does drive revenue - lots of it
● Customers can easily switch business among many companies
● CX leaders stand out from peers.
Better CX = Higher Revenue Growth
8Base: 28,823 US online adult customers (ages 18+) of these industries who interacted with at least one brand within the past 12 months (bases vary by industry). Source: Forrester’s Customer Experience Index Online Survey, US Consumers Q1 2015 *This analysis shows the effect on revenue potential of increasing CX Index scores by one point from the industry average CX score. Curves for individual brands differ from this industry curve. For brands that don’t have a linear relationship between CX and revenue, the revenue effect of improving CX by one point will vary greatly depending on the CX score that serves as the starting point for this analysis. †Number of customers represents number of customers of a big player in the industry based on inputs that include Forrester’s Consumer Technographics®, Forrester’s analysts, and publicly available industry data. ‡Excluding Apple due to the high difference in price points.
Annual incremental revenue per customer*
Average number of customers per company†
x Annual impact per company=
Wireless providers $2.13 82 million $175 millionx =
Luxury auto $337.10 350,000 $118 millionx =
Upscale hotels $6.52 10 million $65 millionx =
TV providers $3.56 17 million $61 millionx =
Retail banks $3.92 15 million $59 millionx =
Insurance firms(home and auto) $3.25 15 million $49 millionx =
Internet providers $3.09 16 million $49 millionx =
PC manufacturers‡
(excluding Apple) $2.07 10 million $21 millionx =
Results of a one point improvement in CX index score
Credit cards $0.25 61 million $15 millionx =
The Omni-Channel Challenge
90% of people move between devices to accomplish a goal
45% of in-store consumers turn to social platforms on their mobile device to influence buying decisions
54% of marketers cite not having a consolidated customer view across channels as the biggest roadblock to a successful cross-channel experience
9Sources:eMarketer “US Time Spent on Mobile to Overtake Desktop,” August 2013, Retail Systems Research (RSR) “Retailing: Omni-Channel Approach Central to Strategies in 2013,” August 2013
Start Thinking Holistically
Corporate projects focus on individual touchpoints, technologies or features without taking into account the total customer experience.
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Customer Journey Map
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What it is and how to create one
What is a Customer Journey Map?
• Illustrates the customer journey across all channels
• Presents your customer’s point of view
• Describes the highs and lows people feel while interacting with your business
• Identifies opportunities
12Source:Adaptive Path, “The Anatomy of an Experience Map,” November 2011
What does it look like?
13Source:desonance, “Customer Service Mapping,” June 2010
The Anatomy of a Customer Journey Map
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Customer Journey
Thinking &Feeling
Opportunities
Stages
What Is Your Customer Journey?
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Look at each stage of the customer life cycle
Consider BuyEvaluate AdvocateEnjoy
Step 1: Inventory
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Identify customer touch points across channels
Build An Inventory
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Triggers, Touch Points and Channel InventorySign Up Earn Rewards Redeem Renewal Lapsed
In Store
Web
Social Media
Mobile
Out of Home
Build An Inventory
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Opportunities?
In Store
Web
Social Media
Mobile
Out of Home
Triggers, Touch Points and Channel InventorySign Up Earn Rewards Redeem Renewal Lapsed
Step 2: Research
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Elicit the customer’s point of view
Customer Research
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Observe and interview customers
Traditional focus groups
Online focus group
Benefits of Online Focus Groups
• Large geographical reach
• Easier for customers to participate and remain anonymous
• Moderator can probe for clarification
• Eliminates “group think” and biasing
• Results are immediately available
21Great Facilitator + Great Discussion Guide = Great Customer Stories
Customer Feedback
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Make us feel special for choosing your store. We pay your paychecks, so we make you feel special.
Bill M.Longtime Member
I wish I could have earned more rewards but when I’m just buying for myself the rewards didn’t add up fast enough.
Jessica F.Lapsed Member
...if I knew that I was close to another reward, I’d be more likely to go to the store sooner than I might have otherwise.
Linda C.Newbie
Step 3: Workshops
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Analyze and summarize what customers are thinking and feeling
Stakeholder Workshops
Review and analyze customer feedback
Include internal participants from multiple departments
Cluster comments into themes
One of the goals is for internal team to gain customer empathy
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Include internal stakeholders who can impact the final customer experience
Stage 4: Feelings
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Define the highs and lows
Model Customer Feelings
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UNHAPPY
ELATED
Optimal experience Average experience Poor experience
SIGN-UP WEEKLY EMAILMAKEPURCHASES
EXPIRATION REMINDER
EARN REWARD
Step 5: Map
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Put it all together
The End Product
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Guiding Principles
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Remember me
Make me feel special
Help me succeed
Always be there for me
Stay connected with more relevant touches.
Proactively optimize accounts and make
tailored suggestions.
Continue to improve online tools and
technology.
Be there: whenever/ wherever/ however.
Knowme
Get better connected to your customers.
“I absolutely want the relationship to feel
personalized and the customer service
personnel to show interest in me and my
needs.”
“The bank really hasn’t reached out to me. I would expect more
postal mailings as well as emails.”
“Connectivity, to me, would be a bank
reaching out with specific custom-tailored products and services.”
“I would prefer a bank that understands where I am with my financial
life, where I want to go, and can provide the
knowledge and tools to help me get there.”
“I want to be connected to my accounts 24/7... if I have a problem with my account, someone
should be available, at all times, that I can
interact with to find a solution.”
Process Summary
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Inventory Triggers,
Touch Points and Channels
Conduct Customer Research
Hold Stakeholder Workshops
Develop Initial Model of Customer Feelings
Build Your Customer
Journey Map
Improving Your Business
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Opportunities to Leverage Your Customer Journey Map
What Is Your Customer Experience?
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Typical banking customer life cycle
Consideration Account Opening Onboarding
Day-to-Day Account
Management
Expanding Relationship
Ending Relationship
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How close are the nearest branches and ATMs?
Will the bank help me grow and progress financially?
How do fees and rates compare to other banks?
How do I choose the best account for my needs?
How big is the bank’s presence (local, national, international)?
Does the bank take an interest in my community?
How helpful and knowledgeable are the bank employees?
Who do my friends and family bank with?
Does the bank offer the services and technology I need?
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Pinpoint Opportunities
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Opp
ortu
nitie
s ● Create personal connections with prospective customers
● Make it easy to understand and differentiate between account options
Pinpoint Opportunities
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Opp
ortu
nitie
s ● Follow up on all new customers with personalized communications
● Identify and honor customer communication preferences
● Provide educational tools
● Assign acquired customers to a bank counselor
Day 1 Day 5 Day 18 Day 20 Day 30
Open, fund and initiate usage of account
Promote convenience features: debit card; direct deposit; bill pay; online banking
Gather information about the customer (household, lifestage)
Account Opening
Welcome message and reminder about convenience features
Customized to reflect actions already taken by customer
Primary focus on highest priority feature that customer isn’t already using
Welcome Email
Welcome message and reminder about convenience features
Customized to reflect actions already taken by customer
Primary focus on highest priority feature that customer isn’t already using
Welcome Package
Welcome message and reminder about convenience features
Same targeted focus as Welcome Email
These calls can be prioritized toward the highest potential customers
Gather information about customer interests/needs
Follow-Up Call
Reference to full breadth of valuable products, but focus on specific offer
Specific offer based on next best product logic for each customer
Targeted Product Offer
