Total Customer Experience Management Overview #TCE #CEM -- The Why, What and How
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This is a CEM tutorial & TCELab introduction presentation we put together for our TCELab Sales Affiliates and Partners -- explains an overview of Total Customer Experience Management, Why your customer's CEO's will love it, your opportunity, and how TCELab's products and services fit into the CEM / Big Data / Customer Loyalty Space. A must watch for CEM enthusiast or any business professionals interesting in reducing churn. Find video at: http://www.youtube.com/watch?v=BFPDmM4Ct1E Or read it in our corporate blog: http://tce.io/tutecast Video itinerary: 0:00:07 What is Customer Experience Management (CEM)? 0:02:04 Why do CEO’s care? 0:04:15 Why CEM vendor should be excited? 0:07:15 What does CEM Program looks like? 0:07:45 Design of a CEM Program: CEM Program Components 0:11:20 Design of a CEM Program: Disparate Sources of Business Data 0:14:23 Design of a CEM Program: Data Linkage (connecting data to answer different question) 0:17:17 Design of a CEM Program: Integrating your business data (mapping organization silos with survey type) 0:20:58 Design of a CEM Program: Three ways to grow business… why just NPS is not enough? 0:25:40 TCELab product plug but some cross winds of CEM gold information 0:33:10 TCELab CLAAP Platform but some cross winds of CEM gold information 0:39:00 TCELab product execution process, time-lengths & other relevant information around it (information relevant to affiliate networks) 0:43:30 TCELab product lists (information relevant to affiliate networks) 0:52:40 TCELab case study: Kashoo + lot of good information for SAAS companies CEM program For More, please visit http://www.tcelab.com
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Total Customer Experience Management Overview #TCE #CEM -- The Why, What and How
- 1. TCELab Sales Affiliate Overview Summer 2013 The Why, What and How Total Customer Experience Management #TCE #CEM
- 2. TCE Lab What is Customer Experience Management? The process of understanding and managing your customers’ interactions with and perceptions of your brand / company Copyright 2012 TCELab
- 3. TCE Lab 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 …
- 4. TCE Lab Why 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 TCE Lab
- 5. TCE Lab Our accessible Big Data opportunity $0.49B to $7B
- 6. TCE Lab CEM 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!
- 7. TCE Lab Disparate 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
- 8. TCE Lab Integrate 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
- 9. TCE Lab Integrating 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) BusinessDataSources 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
- 10. TCE Lab Three 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.!
- 11. TCE Lab What 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.
- 12. TCE Lab 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 Sophistication of Business Intelligence CompetitiveAdvantage - 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
- 13. TCE Lab How 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)
- 14. TCE Lab What 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
- 15. TCE Lab What 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.”
- 16. 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.
- 17. Case study • SaaS Software Company
- 18. TCE Lab “CRD Customer Survey” Driver MatrixImpact LowHigh 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.
- 19. TCE Lab Driver 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 ImpactonRetentionLoyalty (correlationbetweenbusinessattributes andRetentionLoyaltyIndex) 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
- 20. 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
- 21. THANKS! Welcome to Awesomeville. info@tcelab.com www.tcelab.com 1.888.243.4756 40 Warren Street, 3rd Floor Boston, MA 02129 USA