Do you like where your business is headed?
Getting big value from Big Data
Is Fintech an opportunity or a threat?
Are you realizing your brand’s full potential?
SMALL TEAMS, DELIVERING
OUR ANALYTICS UNCOVER
How is your customer’s journey tied to your P&L, and how can you improve both simultaneously? A fresh journey is a multi-step process…
– What area of your business can an improved customer experience have the biggest impact on loyalty metrics and revenue?
– How do we improve customer service without neglecting the overall customer journey?
– Can we calibrate in-person and technology-enabled customer service to effectively and efficiently meet every customer need, every time?
– How do we translate our understanding of our segments & personas to tailored solutions and services for each group’s needs
– What is the best way we leverage analytics and journey mapping to make our customer experience a competitive advantage?
– How can we optimize onboarding and reporting without compromising on the customer experience?
– How do we obtain buy-in that customer engagement initiatives are worthwhile?
– What are the dependencies we must consider before transforming a journey?
– What changes can we make to our rewards program to maintain competitiveness but increase profit?
– We home in on a strategic business priority area with big and urgent pain points to create the biggest impact on customer experience and the bottom line
– Baselining the BU’s internal (e.g. net income, product blend, etc.) and external (loyalty metrics, customer demographics, social media engagement) KPIs to understand where we are today and where we want to go
– Define the business objectives and metrics for success by using our analytical experience track business, operational, and customer loyalty metrics
– Asking the hard-hitting questions in customer focus groups and stakeholder interviews is how we collect candid and eye-opening responses for journey mapping process
– Using design thinking, we will have an interactive workshop to construct the customer journey to include all touchpoints, customer sentiment, moments of truth, and supplement with customer quotes and loyalty data along the journey
– We research and empathize; observing and understanding the customer without judgement or filter and continuing to ask “Why?” until deeper truths are revealed
– Ask: What are the key friction points, drop-off areas, the “make or break” moments, and the gaps between customer expectations and reality?
– Highlight: opportunity areas for an enhanced customer experience and map out the target customer experience that we will emulate
– Think: Where can we have biggest impact? An area that is the customer wants fixed, we have the resources to deliver, and can become a differentiator, at least for a time, in the industry
– Question: Are we fixing the root cause or a symptom? Is this something customers actually need and would benefit from having?
Utilize & Institutionalize
– We prioritize opportunities by examining the returns, impact to loyalty metrics, operational efficiencies, and feasibility
– We will work with you to implement changes necessary to reach the target state by pretotyping, prototyping, re-testing, and finalizing the enhanced experience
– Incorporating customer engagement into the day-to-day is key to long-term success; we can help you stress the importance of customer engagement by embedding the customer journey map into the governance model, refreshing journey map every 6-24 months, and tracking KPIs most relevant to the journey
How do I ensure my customer segments are derived effectively and how can I use them to grow the business?
What questions should I be asking and approach should I take to engage my customers?
– What is the best loyalty metric (e.g. CSAT,NPS ®) for my business?
– How are my loyalty metrics correlated to revenue for each BU?
– How frequently should we distribute and analyze customer surveys to have statistically significant results?
– Which channels should I use to have the greatest survey response rate for each segment?
– How do we track loyalty against business targets and structure sales incentives accordingly?
– Should I focus on relational or transactional loyalty metrics?
– How does changing the wording, order, or format of my survey questions change the response?
– How should a customer’s lifetime value affect their experience with us?
– How does my marketing strategy affect which KPIs I track? Who should see which loyalty KPIs?
What’s the best path to the ‘omnichannel presence’ that customers demand today?
Supportive Infrastructure: replacing legacy servers with new-age, fast, cloud-based platforms is critical; selecting the go-forward platform requires functionality and cost-to-serve analyses
Self-Service Channels: empower your customers – enable them to view products, interact with staff, make logistical changes, etc. to take advantage of the synergies of making both your and the customer’s experience seamless
Interactive Tools: transform the advisors and customer service representatives to become consultants with technology; consider how to leverage digital to differentiate your service and engage with customers