Customer experience and CRM
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What is Customer Experience?
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What is Customer Experience?
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Customer Experience is a Strategy to Shift the Demand
Curve
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What is Customer Experience?
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Customer experience is the perception a customer has about a company. It is the sum of
direct or indirect experiences, such as their first impression of the brand, meeting employees,
reading news about the company or hearing stories through friends. Customer experience
refers to every single interaction a customer has with the brand and includes customer
service. Because of this, customer experience is more subjective and pertains to how a
customer feels about the company over a long period of time.
Customer experience is taking the customer views of the interactions to understand the
emotional bond between the brand and customers. It requires a common understanding of
the customer journey, then align the company actions to build emotional bonds;
It is the collective set of experiences … on the web, in the store or even the tiny little things
that companies do and say. It is about understanding customers unmet needs, wants, desires,
in a deeply contextual way – “in the moment.” And that leads to thoughtful and purposeful
delivery through technology, process, community and design.
Customers remember and value experiences that demonstrate deep understanding and
respect for their needs.
When companies learn to deliver and remain engaged with customers through differentiated
experiences, they build strong enduring relationships and profitable businesses
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Customer Experience Framework and CRM
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Superior CE is Paramount to Separate from Competition
and Create Shareholder Value
Customer satisfaction
levels are decreasing
Customer and
regulatory
expectations are rising
sharply
Customer loyalty
is commoditized as
service all looks and
feel the same
Technology
puts customers
in charge
1. Understand brand
perceptions, interaction
expectations, transaction
histories, customer
events and emotional linkages
to better apply offerings and
service treatments that exceed
customer expectations
2. Create optimal customer
interaction experiences for
each critical touch point across
all channels that will deliver the
“brand promise” and drive
higher customer life time value
Understand the
Customer
Enable the
Experience
Member
Experience
Align the
Organization
4. Create the organizational
governance structure, core
processes and roles and
responsibilities to enable a
customer-centric business model;
establish KPIs and reporting
procedures to support
achievement of business goals.
Optimize the
Relationship
3. Streamline business
operations and increase
productive
customer interaction time to
optimize the customer
relationship by segment and
to deliver service consistently
by channel
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Top Down Customer Experience Approach
Developing a “branded” personalized experience to customers across all channels
1. Who are my customers ?
What experiences
do they value ? How to
differentiates our
brand ?
2. What changes needed at
member touch-points and
channels?
3. What Capabilities do we
need to change, to provide a
consistent and branded
customer experience across
different touch points and
devices ?
Starters
Awareness
Web/
email
• Digital
advertising
• Personalized
care reco’s
• Marketing on
social media
• Lead
management
4. What Organizational
changes do we need ?
Compare
Mobile
Mids
Achievers
Call
Center
• Digital
Pricing
/Bundling
• Sales force
management
• Channel
management
• Orders/
Contract
Management
Pay
Self
Service
Receive
Social Media
Retail
• Mobile
Payment
• Universal content
management
• Billing
accuracy,
timeliness, and
transparency
• Device
interoperability
• Digital ID
and security
• Personal account
management
Seniors
Serve
Broker
• Digital and
Mobile
- billing,
- payment,
- refunds,
- adjustments
-appeals
-grievances
Renew
Chat
• Real time
marketing and
churn
management
• Digital
Member
Management
- Service
- Returns
- Support
• Social media
member care
Digital service competencies, organizational structure, incentives, metrics, reporting
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Customer Experience Framework
► Our Customer Experience Framework provides both an outside-in and
inside-out view of the client’s customer experience.
Get
Use
Segment 4
Contact Center
Store
Other Channel(s)
Strategic Objectives
Branded
Customer
Experience
Offer
Right
Product
& Service
Manage
Customer
Interactions
Brand Promise
Processes
Tools & Technology
People & Culture
Metrics & Reporting
Ongoing Measurement
and Improvement
Segment 3
Customer Insight &
Segments
Segment 2
Customer Touch-points
Website /
Smart Devices
Service
Inside - Out
Outside - In
Segment 1
Pay
Operations Alignment
Buy
Channel Integration
Learn
Voice of Customer
Understand the Customer ♦ Enable the Experience ♦ Optimize the Relationship ♦ Align the Organization
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Customer Experience Framework
►Our Customer Experience Framework provides both an outside-in and inside-out view of the
client’s customer experience. Through this framework, we can assess where pain points exist and
provide industry leading solutions to deliver the desired business results.
Segment
Needs and value
Segment
Needs and value
Segment
Needs and value
Segment
Customer
experience
Value
propositions
1
2
Understand your
customers
Design the Multi
Channel Experience
Processes
Technology
People
Data
Interactions
4
Initiatives and
roadmap
Needs and value
Inside-out
Business
capabilities
Analytics-driven
customer insight
Outside-in
Metrics
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Enable and Optimize the
Experience
Align the
Organization
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Customer experience: matching inside-out
and outside-in
Personas
(Sample)
Experience design: driven by voice of the customer (outside in)
Seasoned
Sophisticate
Brand
experience
Purchase
experience
Service
experience
Departure
experience
Personalization
Customer, employee and partner experiences
Transactions
Interactions
Budget
Adventurer
Business
outcomes
and
results
Urban
Millennial
No match =
value
leakage
Match =
improved
experience
Innovation
= surprise
and delight
Company capabilitiesAlign customer experiences to company’s capabilities
Family
First
Marketing
Sales
Service and
operations
Tools and
technology
Analytics
and insight
Capabilities design: company capabilities to deliver experience design (inside out)
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A sample of CRM framework
Customer Relationship Management Framework
Customer
Experience
Coverage
Teams &
Channels
CRM
processes
Form an
Impression
Sales &
Trading
Inquire about
products and
services
Merchant /
Investment
Banking
Establish
relationship
Prime
Brokerage
Use products
and services
Corporate Commercial
Banking
Banking
Consider
additional
offerings
Proprietary
Networks
Place service
inquiries /
requests
Phone
Online
Raise issues /
concerns
Mobile
Email
Client profile
management
Pipeline management
Product/service
needs analysis
Client satisfaction
measurement
Account planning/
management
Activity management
Product marketing
and campaigns
Case management
Lead/referral
management
Sales reporting and
analytics
Cross-sell / up-sell
Complaint handling
Define and
agree on
prioritized set
of business
process
scenarios that
will drive target
state design
and encompass
critical
business
objectives
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Intentional Journey Map ( an example)
Diagram that depicts the customer experience in the target state and describes
enhancements to meet or exceed customer expectations.
Persona: Sophisticated Buyer
Journey
Innovation
Experience
Impact
Customer Experience Journey
Lifecycl
e
Intentional Journey: Purchase and manage a home loan
1.
Awareness/
Knowledge
2. Consider
Receives advice, based on
analysis of similar group of
customers
3. Select and
Submit
Checks on application
status on mobile device
Receives customized
message based on their
profile
• Ability to optimize
contacts based on
customer channel
preferences
• Ability to segment
customers, based
on attributes
• Ability to conduct
analytics on
customer groups to
understand
preferences
• Consistent process
to notify customers
• More personalized
experience
• Receive financial
guidance based on
needs
Receives timely advice,
notification to change in
ARMs
Access mortgage information
and real-time data online
• Provide
capability to
track loan
application
approval
workflow
through
multiple
devices/chann
els
• Convenience
of staying up
to date using
device/chann
el of choice
• Ability to provide
real-time status
across channels
• Utilize decisioning
tool to establish
rules based on
customer
preferences
• Navigate through
easy-to-access and
understand info
6.
Receive
Enhanced
Experience
5.
Receive
Service
4. Activate
and Transact
7.
Refer/Close
Provide referral through
preferred channel and easily
track status of referral
Experiences superior service
for being a loyal customer
• Understand
360 degree
view of
customer
• Customize
services (i.e.,
risk)
• Establish
robust and
mature loyalty
programs
• Establish
cross-sell
capability to
grow customer
accounts
• Feeling that my
bank is looking
out for
customers’
best interests
• I am valued
and rewarded
as a longstanding
customer
Key:
Phone
In Person
• Establish
referral and
retention
management
tools
• I am rewarded
when I
promote my
bank
Digital
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Example: Customer Journey Storyboard)
Example: Customer Journey Storyboard