Financial Services Club 28 September 2016

Transcription

1 Financial Services Club 28 September 2016 Clinton Bell

2 Reaching the digital consumer How to make the best use of digital to engage with customers and grow revenues The digital landscape The importance of mapping customer journeys linked to real-time data to create and manage unified customer experiences 2

3 CFN is a global CX company Delighting customers through a proven, best-in-class customer experience approach that delivers financial results Headquartered in Denver, we have operations in London, Toronto and Bangalore 3

4 Financial services clients 4

5 Context The age of the customer Global/social changes Technology 5

6 The threat/opportunity Brand heritage and recognition Choice Trust <> human contact BIG (!) data Leverage social media Truly understand and use the digital channel 6

7 Food for thought 71% of consumers prefer dealing with human beings 52% have switched providers in the past year due to poor customer service 47% are willing to pay more for better customer service 73% expect customer service to be easier and more convenient 65% want it faster Having switched, 65% of consumers will not go back 82% of "switchers" feel the company could have done something to retain them 73% said better live/in-person customer service would have impacted their decision Source: Accenture 7

8 By 2020 customer experience will overtake price as the key brand differentiator Forbes Magazine Customer experience is the next competitive battleground Jerry Gregoire, CIO of Dell 8

9 Our approach to customer experience Map the overall customer experience in detail and holistically Integrate real-time data Set up metrics in order to understand and predict the impact on financial performance and revenue growth Integrate Consulting + Technology + Data Analytics 9

10 With four core disciplines We re not competitorobsessed, we re customer-obsessed. We start with what the customer needs and we work backwards Jeff Bezos Customer Engagement Colleague Engagement Whether you are big or small, you cannot give good customer service if your employees don t feel good about coming to work. Martin Oliver Behavioural Operational Excellence Excellence 10

11 And it s a journey 1 Explore 2 Engage 3 Embark 4 Embed 5 Excel Goals Defined Business Engaged Early Priorities Addressed Systematic Improvement Goals Realised Best Practice Assessment CX Strategy Quick Wins Reward and Recognition World Class Benchmarks SOLUTIONS FOCUS Customer Journey Mapping Measures Framework Organisation & Colleague Engagement Performance Management CX ROI Statement of Intent (SOI) CX Communication CX Training and Development CX Redesign 11

12 Who - if anyone - in your company is monitoring your customers entire experience? 12

13 Customer Journey vs Touchpoints Understanding the entire customer journey yields up to 117% greater customer satisfaction and 104% greater willingness to recommend than looking solely at touchpoints - McKinsey 13

14 Mapping the customer journey A shared view of the end-to-end journey From the customer s perspective - how it feels to be a customer Foundation for data and insights to drive business improvement Better organisation, collaboration and communication 14

15 Over 160 touch points delivered by 17 different departments 15

16 Customer outcome stage Journey Stage Feature to convert a Journey Map to a Template Filters & Views Menu for the Journey Map All blocks can be dragged and dropped across stages, cut and paste Touchpoint 16

17 Filtered by business owner 17

18 Journey Map Analysis 18

19 Journey map integrated with real-time data 19

20 Customer Journey Mapping + Data Analytics Holistic view Real-time dashboards, linked to live data Share across the organisation and across channels Improve collaboration and communication Assign actions and improve workflows and organisation 20

21 What s Next for CFN Insight Platform Customer Journey Customer Journey Maps Maps Maps Analytics Analytics Analytics Action Plans Research Research Research CX Best Practices Best Predictive Best Practice Practice and Prescriptive Analytics Financials Cross-Function Collaboration CX Scorecard Global Metrics Customer 360 View CFN Rating CFN Best Practice Assessment Market Scenarios Executive Dashboard 21

22 Value Mining data for insight Structured Data Customer Data CRM Point of Sale Transactional Data Operational data Financial Data Demographic Data Survey data External Sources Economic Data Benchmark Data Financial Market Data Industry Research data More Most Effort More CFN Data CFN Data Most Unstructured Data Customer Data Survey data Website/Clickstream Data Internal communication channels, Intranet Call Center Transcripts External Sources Documents/Video/ Image Survey data (survey index) Credit scores (FICO, D&B) Blogs/Forums Social Networks CJM BP Assessment Data CFN Rating Metrics Best Practices VoC 22

23 Summary - Why CX? Deliver your brand promise Simplify the customer journey and turn fragmented experiences into seamless omni-channel ones Shorten the buying cycle Drive actions and innovations to differentiate your business Drive bottom-line results: Reduce churn Increase loyalty, retention and referrals Greater customer lifetime value 23

24 Summary - Keys to success Align customer experiences with the company s capabilities Align CX initiatives with business results Senior management ownership Create a map of the current and desired journeys. And tie it to real-time data, metrics and dashboards Go for quick wins Benchmark - because your customers are doing it all the time! 24

25 Thank you and discussion Clinton Bell