The habits of customers are shifting as companies broaden when and accelerate how they deliver service. The always-on aspect of 21st century life is leading to an expectation of instant information in all areas. The key to creating Customer Lifetime Value requires catering to today's expectations in all arenas and channels. So how is that relationship developed and maintained in the always-on, want-it-now, modern world? Read this slide deck, part of a January 2014 webinar hosted by Avaya’s Tore Christensen, Corporate Consulting Engineer in Innovations and Customer Experience, and Tom Hanson, Director of Product Management of Avaya Contact Center Automation Applications, which explains how you can cover all 360 degrees of a customer's experience with the right resources at the right time.
Bringing it back to the business impact ... Specifically shareholder interestSo – how do we convince our executives it matters? Lets think about what else they care about – shareholder value.Forrester looked at the impact of experience on a company’s stock... He compared two portfolios – one holding stocks in companies that lead customer experience, and another that are customer experience laggards... These were companies on Forrester's Customer Experience Index... Measured for 5 years, he compared the total return of a portfolio that held the top 10 publicly traded companies in the CXi, to the total return of the bottom 10 publicly traded in the index. So – imagine if you invested in the top 10 vs. the bottom 10 – give numbers on slideSo... Higher revenues, greater share of wallet, positive word of mouth, and lower expenses due to happier customers (lower service costs)The markets notice, and award higher valuations to companies that deliver a truly great customer experience. So, just as you cant afford to ignore other aspects of your business while focusing on customer experience, you cant afford to ignore customer experience while focusing on other aspects of your business.Source: Watermark Consulting
It took 50 years for 60% of consumers to gain access to landline. It took 20 years for cellphones to reach this same level of acceptance. The modern smartphone has taken less than 10 years to reach this same level.
Tie it back to assisted/automated service journeyLinda Dotts Dialog at Analyst Day: Interaction most use traditional self service. “Leave it be, it works.” First place we’re going is integrating proactive outbound and experience portal – no longer one way self service but now 360 degree conversation – can push reminders and have customer come back in, keep conversation going; integration inbound and outbound in simplified way – self service app and campaign thru orchestration designer, and way to manage that app so customer experience group can develop it selves, make changes based on feedback. Common way of creating and supporting that within the organization.] SM experience portal is a solution and one option is outbound. [Yes and another example is call back assist that integrate into self service.] SM “good”Future – customers want choices – pick up phone, other, and integrated. Conversive acquisition enable next step in world of web and mobile don’t want to wait, not want a call back. Our partners use this for ongoing dialog with us all day to get information they need – and if not working we or they can escalate to live chat. Moved one way transaction to two way and adding value by offering more choice to end customer. Next step to total solution. We have to do this in multiple ways – delivery options – bring new capabilities in easy to use way so first delivery of automated chat will be via cloud and then we’ll decide whether/how to integrate on prem, and integrate soft into existing multichannel – making sure the information follows the user. First packaging logical apps together into solutions approach and make it easy package to buy. ]ARCHIVE NOTES Avaya Customer Engagement Methodology- Two thirds of the customer journey happens AFTER purchase- Perception and experience at every step impacts overall experienceNew approach - engagement methodologyCustomer Experience Management (CEM) is the discipline of managing and treating customer relationships as assets, with the goal of moving satisfied customers to loyal customers, and loyal customers to advocates of your brand. In doing so, CEM looks to improve customer lifetime value (CLV) by optimizing each interaction and conversation, creating an engaged customer relationship which drives repeat purchases, retained customers, customer referrals, price premiums and reduced support costs. Organizations invest in improving the customer experience to drive customer lifetime value (CLV)CLV is a function of 4 important elements;Yearly spend Initial cost of acquisitionYearly cost of retentionYearly cost of supportRetention rate/average length of customer relationshipFor the organization focused on improving CLV, it’s about improving the 4 revenue/cost levers above, AND extending the average length of the customer relationship/improving retention. So, how does an organization link what it does every day, every interaction it has with a customer to the 4 CLV levers? Through strategic, operational & technical KPI’s. We have created a CLV framework that links strategic, operational and technical KPI’s together, and illustrates their relationship and impact on the 4 CLV levers, which in turn impact CLV itself. Additionally, we have linked our solutions to each of the operational KPI’s, so that we can help the customer draw a line to how our solution is used daily, and what that means in terms of improving the customer experience, and the indicators that support Revenue & Cost, rolling up to CLV.CEM is about optimizing the interactions, conversations and engagement that occurs throughout the customer journey between and organization and its customers, suppliers and partners, and the cumulative affect optimized interactions have on driving top line growth and bottom-line improvement. Customer service is an enterprise business process that occurs in the “OWN” phase of the customer journey and is delivered in large part by the Contact Center. >2/3 of the customer journey is spent in the “own” cycle of the journey, where a customer has received the product or service, utilize it, maintain it, and renew and ultimately refer. These phases of the journey and the interactions that occur here are absolutely critical in the customer’s overall perception of the brand, and their willingness to repurchase, refer and remain retained. Increasing CLV and the measures that reflect top line growth and bottom line improvement are driven in fact by many operational metrics and measures that are used to measure and manage interactions on a daily basis. The cumulative effect of these interactions and the measures that support them roll up to impact top line growth as illustrated via CLV. Optimizing these daily interactions are a key ingredient in growing CLV. ----------------------Customers have needs and what they do to satisfy those needs is their Journey. Successful organizations recognize this and aim to identify where in this Journey the organization can influence the outcome in their favor. 2/3 of the Customer Journey is spent in the “OWN” phase of the relationship. The “OWN” phase includes all of the needs a customer has after they have acquired the product or service, and now begin the process of receiving it, using it, sustaining it, renewing it and referring it to other potential customers. The “OWN” phase plays a critical role in nurturing customers. The Contact Center plays a critical role in this nurturing process which if successful, ultimately leads to a customer who will remain retained, refer, and repurchase. From a financial perspective, the organizational goal relative to the customer journey is to move customers through the journey as effectively and efficiently as possible. This is measured in different ways. At a high level, organizations invest in CE to improve CLV and customer profitability. What can the organization do today to improve it’s financials, and through this, increase CLV and customer profitability over time? We have created a value framework that allows organizations who play a key role in both the acquisition and own phase of the customer journey to quantify the impact they have on CLV, and link every day operational metrics to top and bottom line financials results. 2 key questions I want to leave you with as we step through this….Where should an organization focus its CE investments, and how do you prioritize them? How do link incremental improvements and operational metrics to CLV?MOVE TO NEXT SLIDE…………….
Now automate those interactions while still delivering effective communications and improving customer satisfaction. The customer still has the option to reschedule if they need to and get that personalized experience but you were able to automate the interaction and conserve scare resources.Create dynamic voice, email, mobile textcampaigns from contact lists using virtually any data source and automate reach out to customers via voice, email, mobile from one to thousands of concurrent contact attempts and interactions using a single systemThrottle outbound campaign contact attempts based on inbound agent queue times via web servicesLeverage capabilities including answering machine vs. human voice and beep detection enabling application to leave different messages when non “live” contact detected (“Sorry we missed you….)Manage campaigns, applications, data for both outbound and inbound applications within a single web browser accessible system for simpler, consistent administration and managementLeverage Voice Portal reporting to measure campaign effectiveness, business results, regulatory and government compliance. Supports Do Not Call lists, Opt-out and Opt-InProvides real-time tracking and updates disposition in real-time across campaigns ( ex. if customer opts out/in of alerts, all other campaigns immediately aware of latest statusGives contacted customers “Zero-out” access and provides full context of customer and call transferred to agent
Now automate those interactions while still delivering effective communications and improving customer satisfaction. The customer still has the option to reschedule if they need to and get that personalized experience but you were able to automate the interaction and conserve scare resources.Create dynamic voice, email, mobile textcampaigns from contact lists using virtually any data source and automate reach out to customers via voice, email, mobile from one to thousands of concurrent contact attempts and interactions using a single systemThrottle outbound campaign contact attempts based on inbound agent queue times via web servicesLeverage capabilities including answering machine vs. human voice and beep detection enabling application to leave different messages when non “live” contact detected (“Sorry we missed you….)Manage campaigns, applications, data for both outbound and inbound applications within a single web browser accessible system for simpler, consistent administration and managementLeverage Voice Portal reporting to measure campaign effectiveness, business results, regulatory and government compliance. Supports Do Not Call lists, Opt-out and Opt-InProvides real-time tracking and updates disposition in real-time across campaigns ( ex. if customer opts out/in of alerts, all other campaigns immediately aware of latest statusGives contacted customers “Zero-out” access and provides full context of customer and call transferred to agent
Now automate those interactions while still delivering effective communications and improving customer satisfaction. The customer still has the option to reschedule if they need to and get that personalized experience but you were able to automate the interaction and conserve scare resources.Create dynamic voice, email, mobile textcampaigns from contact lists using virtually any data source and automate reach out to customers via voice, email, mobile from one to thousands of concurrent contact attempts and interactions using a single systemThrottle outbound campaign contact attempts based on inbound agent queue times via web servicesLeverage capabilities including answering machine vs. human voice and beep detection enabling application to leave different messages when non “live” contact detected (“Sorry we missed you….)Manage campaigns, applications, data for both outbound and inbound applications within a single web browser accessible system for simpler, consistent administration and managementLeverage Voice Portal reporting to measure campaign effectiveness, business results, regulatory and government compliance. Supports Do Not Call lists, Opt-out and Opt-InProvides real-time tracking and updates disposition in real-time across campaigns ( ex. if customer opts out/in of alerts, all other campaigns immediately aware of latest statusGives contacted customers “Zero-out” access and provides full context of customer and call transferred to agent
Tie it back to assisted/automated service journeyLinda Dotts Dialog at Analyst Day: Interaction most use traditional self service. “Leave it be, it works.” First place we’re going is integrating proactive outbound and experience portal – no longer one way self service but now 360 degree conversation – can push reminders and have customer come back in, keep conversation going; integration inbound and outbound in simplified way – self service app and campaign thru orchestration designer, and way to manage that app so customer experience group can develop it selves, make changes based on feedback. Common way of creating and supporting that within the organization.] SM experience portal is a solution and one option is outbound. [Yes and another example is call back assist that integrate into self service.] SM “good”Future – customers want choices – pick up phone, other, and integrated. Conversive acquisition enable next step in world of web and mobile don’t want to wait, not want a call back. Our partners use this for ongoing dialog with us all day to get information they need – and if not working we or they can escalate to live chat. Moved one way transaction to two way and adding value by offering more choice to end customer. Next step to total solution. We have to do this in multiple ways – delivery options – bring new capabilities in easy to use way so first delivery of automated chat will be via cloud and then we’ll decide whether/how to integrate on prem, and integrate soft into existing multichannel – making sure the information follows the user. First packaging logical apps together into solutions approach and make it easy package to buy. ]ARCHIVE NOTES Avaya Customer Engagement Methodology- Two thirds of the customer journey happens AFTER purchase- Perception and experience at every step impacts overall experienceNew approach - engagement methodologyCustomer Experience Management (CEM) is the discipline of managing and treating customer relationships as assets, with the goal of moving satisfied customers to loyal customers, and loyal customers to advocates of your brand. In doing so, CEM looks to improve customer lifetime value (CLV) by optimizing each interaction and conversation, creating an engaged customer relationship which drives repeat purchases, retained customers, customer referrals, price premiums and reduced support costs. Organizations invest in improving the customer experience to drive customer lifetime value (CLV)CLV is a function of 4 important elements;Yearly spend Initial cost of acquisitionYearly cost of retentionYearly cost of supportRetention rate/average length of customer relationshipFor the organization focused on improving CLV, it’s about improving the 4 revenue/cost levers above, AND extending the average length of the customer relationship/improving retention. So, how does an organization link what it does every day, every interaction it has with a customer to the 4 CLV levers? Through strategic, operational & technical KPI’s. We have created a CLV framework that links strategic, operational and technical KPI’s together, and illustrates their relationship and impact on the 4 CLV levers, which in turn impact CLV itself. Additionally, we have linked our solutions to each of the operational KPI’s, so that we can help the customer draw a line to how our solution is used daily, and what that means in terms of improving the customer experience, and the indicators that support Revenue & Cost, rolling up to CLV.CEM is about optimizing the interactions, conversations and engagement that occurs throughout the customer journey between and organization and its customers, suppliers and partners, and the cumulative affect optimized interactions have on driving top line growth and bottom-line improvement. Customer service is an enterprise business process that occurs in the “OWN” phase of the customer journey and is delivered in large part by the Contact Center. >2/3 of the customer journey is spent in the “own” cycle of the journey, where a customer has received the product or service, utilize it, maintain it, and renew and ultimately refer. These phases of the journey and the interactions that occur here are absolutely critical in the customer’s overall perception of the brand, and their willingness to repurchase, refer and remain retained. Increasing CLV and the measures that reflect top line growth and bottom line improvement are driven in fact by many operational metrics and measures that are used to measure and manage interactions on a daily basis. The cumulative effect of these interactions and the measures that support them roll up to impact top line growth as illustrated via CLV. Optimizing these daily interactions are a key ingredient in growing CLV. ----------------------Customers have needs and what they do to satisfy those needs is their Journey. Successful organizations recognize this and aim to identify where in this Journey the organization can influence the outcome in their favor. 2/3 of the Customer Journey is spent in the “OWN” phase of the relationship. The “OWN” phase includes all of the needs a customer has after they have acquired the product or service, and now begin the process of receiving it, using it, sustaining it, renewing it and referring it to other potential customers. The “OWN” phase plays a critical role in nurturing customers. The Contact Center plays a critical role in this nurturing process which if successful, ultimately leads to a customer who will remain retained, refer, and repurchase. From a financial perspective, the organizational goal relative to the customer journey is to move customers through the journey as effectively and efficiently as possible. This is measured in different ways. At a high level, organizations invest in CE to improve CLV and customer profitability. What can the organization do today to improve it’s financials, and through this, increase CLV and customer profitability over time? We have created a value framework that allows organizations who play a key role in both the acquisition and own phase of the customer journey to quantify the impact they have on CLV, and link every day operational metrics to top and bottom line financials results. 2 key questions I want to leave you with as we step through this….Where should an organization focus its CE investments, and how do you prioritize them? How do link incremental improvements and operational metrics to CLV?MOVE TO NEXT SLIDE…………….
Tie it back to assisted/automated service journeyLinda Dotts Dialog at Analyst Day: Interaction most use traditional self service. “Leave it be, it works.” First place we’re going is integrating proactive outbound and experience portal – no longer one way self service but now 360 degree conversation – can push reminders and have customer come back in, keep conversation going; integration inbound and outbound in simplified way – self service app and campaign thru orchestration designer, and way to manage that app so customer experience group can develop it selves, make changes based on feedback. Common way of creating and supporting that within the organization.] SM experience portal is a solution and one option is outbound. [Yes and another example is call back assist that integrate into self service.] SM “good”Future – customers want choices – pick up phone, other, and integrated. Conversive acquisition enable next step in world of web and mobile don’t want to wait, not want a call back. Our partners use this for ongoing dialog with us all day to get information they need – and if not working we or they can escalate to live chat. Moved one way transaction to two way and adding value by offering more choice to end customer. Next step to total solution. We have to do this in multiple ways – delivery options – bring new capabilities in easy to use way so first delivery of automated chat will be via cloud and then we’ll decide whether/how to integrate on prem, and integrate soft into existing multichannel – making sure the information follows the user. First packaging logical apps together into solutions approach and make it easy package to buy. ]ARCHIVE NOTES Avaya Customer Engagement Methodology- Two thirds of the customer journey happens AFTER purchase- Perception and experience at every step impacts overall experienceNew approach - engagement methodologyCustomer Experience Management (CEM) is the discipline of managing and treating customer relationships as assets, with the goal of moving satisfied customers to loyal customers, and loyal customers to advocates of your brand. In doing so, CEM looks to improve customer lifetime value (CLV) by optimizing each interaction and conversation, creating an engaged customer relationship which drives repeat purchases, retained customers, customer referrals, price premiums and reduced support costs. Organizations invest in improving the customer experience to drive customer lifetime value (CLV)CLV is a function of 4 important elements;Yearly spend Initial cost of acquisitionYearly cost of retentionYearly cost of supportRetention rate/average length of customer relationshipFor the organization focused on improving CLV, it’s about improving the 4 revenue/cost levers above, AND extending the average length of the customer relationship/improving retention. So, how does an organization link what it does every day, every interaction it has with a customer to the 4 CLV levers? Through strategic, operational & technical KPI’s. We have created a CLV framework that links strategic, operational and technical KPI’s together, and illustrates their relationship and impact on the 4 CLV levers, which in turn impact CLV itself. Additionally, we have linked our solutions to each of the operational KPI’s, so that we can help the customer draw a line to how our solution is used daily, and what that means in terms of improving the customer experience, and the indicators that support Revenue & Cost, rolling up to CLV.CEM is about optimizing the interactions, conversations and engagement that occurs throughout the customer journey between and organization and its customers, suppliers and partners, and the cumulative affect optimized interactions have on driving top line growth and bottom-line improvement. Customer service is an enterprise business process that occurs in the “OWN” phase of the customer journey and is delivered in large part by the Contact Center. >2/3 of the customer journey is spent in the “own” cycle of the journey, where a customer has received the product or service, utilize it, maintain it, and renew and ultimately refer. These phases of the journey and the interactions that occur here are absolutely critical in the customer’s overall perception of the brand, and their willingness to repurchase, refer and remain retained. Increasing CLV and the measures that reflect top line growth and bottom line improvement are driven in fact by many operational metrics and measures that are used to measure and manage interactions on a daily basis. The cumulative effect of these interactions and the measures that support them roll up to impact top line growth as illustrated via CLV. Optimizing these daily interactions are a key ingredient in growing CLV. ----------------------Customers have needs and what they do to satisfy those needs is their Journey. Successful organizations recognize this and aim to identify where in this Journey the organization can influence the outcome in their favor. 2/3 of the Customer Journey is spent in the “OWN” phase of the relationship. The “OWN” phase includes all of the needs a customer has after they have acquired the product or service, and now begin the process of receiving it, using it, sustaining it, renewing it and referring it to other potential customers. The “OWN” phase plays a critical role in nurturing customers. The Contact Center plays a critical role in this nurturing process which if successful, ultimately leads to a customer who will remain retained, refer, and repurchase. From a financial perspective, the organizational goal relative to the customer journey is to move customers through the journey as effectively and efficiently as possible. This is measured in different ways. At a high level, organizations invest in CE to improve CLV and customer profitability. What can the organization do today to improve it’s financials, and through this, increase CLV and customer profitability over time? We have created a value framework that allows organizations who play a key role in both the acquisition and own phase of the customer journey to quantify the impact they have on CLV, and link every day operational metrics to top and bottom line financials results. 2 key questions I want to leave you with as we step through this….Where should an organization focus its CE investments, and how do you prioritize them? How do link incremental improvements and operational metrics to CLV?MOVE TO NEXT SLIDE…………….
It is all about the applications and the value that they can provide. There is a wealth of information that is available in their CRM systems and on the web that can be used to provide good applications. Some great examples are flight status. While I can call the airlines and get the flight status - I need to the airline, the number, and the flight.Where CMB could add value and stickiness is by having a personalized service - so I call and say "what is the expected departure time of MY flight" - there system knows who I am and by extension what flight I am on today - no 'spanin necessary. Getting the status is only part of the story - what if I find that fight is late? Most impatient people like me say "what are my options to change this?"By being able to interact with either a self service menu or talk to a live agent who knows your situation and records means the caller’s experience is smoother and the call center's talk time is less. Also we have the ability to provide outbound alerts (SMS, live call) for things like flight cancellations and delays.Again, the notification is nice, but I will want to do something about the information I receive.Being able to either reschedule/rebook via self service or talk to an agent provides added value for Carlson - allowing their customers to be first in the queue for re-booking. The last concept is being able to handle adversity through automation.Why did Southwest provide and automated flight status line? - In a word "Katrina" - they could never hire enough people to handle the volume.We have a similar story with the Italian Railway with a strike they had this summer.There a numerous example in the press with Jet Blue, Frontier, etc. – in fact most airlines operate in exception mode 30-40% of the time.This is where automation provides a way to handle the calls without throwing people at the problem.
Bureau of Transportation Statistics, Airline Service Quality Performance – Year ending Oct 2013
Now automate those interactions while still delivering effective communications and improving customer satisfaction. The customer still has the option to reschedule if they need to and get that personalized experience but you were able to automate the interaction and conserve scare resources.Create dynamic voice, email, mobile textcampaigns from contact lists using virtually any data source and automate reach out to customers via voice, email, mobile from one to thousands of concurrent contact attempts and interactions using a single systemThrottle outbound campaign contact attempts based on inbound agent queue times via web servicesLeverage capabilities including answering machine vs. human voice and beep detection enabling application to leave different messages when non “live” contact detected (“Sorry we missed you….)Manage campaigns, applications, data for both outbound and inbound applications within a single web browser accessible system for simpler, consistent administration and managementLeverage Voice Portal reporting to measure campaign effectiveness, business results, regulatory and government compliance. Supports Do Not Call lists, Opt-out and Opt-InProvides real-time tracking and updates disposition in real-time across campaigns ( ex. if customer opts out/in of alerts, all other campaigns immediately aware of latest statusGives contacted customers “Zero-out” access and provides full context of customer and call transferred to agent
Now automate those interactions while still delivering effective communications and improving customer satisfaction. The customer still has the option to reschedule if they need to and get that personalized experience but you were able to automate the interaction and conserve scare resources.Create dynamic voice, email, mobile textcampaigns from contact lists using virtually any data source and automate reach out to customers via voice, email, mobile from one to thousands of concurrent contact attempts and interactions using a single systemThrottle outbound campaign contact attempts based on inbound agent queue times via web servicesLeverage capabilities including answering machine vs. human voice and beep detection enabling application to leave different messages when non “live” contact detected (“Sorry we missed you….)Manage campaigns, applications, data for both outbound and inbound applications within a single web browser accessible system for simpler, consistent administration and managementLeverage Voice Portal reporting to measure campaign effectiveness, business results, regulatory and government compliance. Supports Do Not Call lists, Opt-out and Opt-InProvides real-time tracking and updates disposition in real-time across campaigns ( ex. if customer opts out/in of alerts, all other campaigns immediately aware of latest statusGives contacted customers “Zero-out” access and provides full context of customer and call transferred to agent
Tie it back to assisted/automated service journeyLinda Dotts Dialog at Analyst Day: Interaction most use traditional self service. “Leave it be, it works.” First place we’re going is integrating proactive outbound and experience portal – no longer one way self service but now 360 degree conversation – can push reminders and have customer come back in, keep conversation going; integration inbound and outbound in simplified way – self service app and campaign thru orchestration designer, and way to manage that app so customer experience group can develop it selves, make changes based on feedback. Common way of creating and supporting that within the organization.] SM experience portal is a solution and one option is outbound. [Yes and another example is call back assist that integrate into self service.] SM “good”Future – customers want choices – pick up phone, other, and integrated. Conversive acquisition enable next step in world of web and mobile don’t want to wait, not want a call back. Our partners use this for ongoing dialog with us all day to get information they need – and if not working we or they can escalate to live chat. Moved one way transaction to two way and adding value by offering more choice to end customer. Next step to total solution. We have to do this in multiple ways – delivery options – bring new capabilities in easy to use way so first delivery of automated chat will be via cloud and then we’ll decide whether/how to integrate on prem, and integrate soft into existing multichannel – making sure the information follows the user. First packaging logical apps together into solutions approach and make it easy package to buy. ]ARCHIVE NOTES Avaya Customer Engagement Methodology- Two thirds of the customer journey happens AFTER purchase- Perception and experience at every step impacts overall experienceNew approach - engagement methodologyCustomer Experience Management (CEM) is the discipline of managing and treating customer relationships as assets, with the goal of moving satisfied customers to loyal customers, and loyal customers to advocates of your brand. In doing so, CEM looks to improve customer lifetime value (CLV) by optimizing each interaction and conversation, creating an engaged customer relationship which drives repeat purchases, retained customers, customer referrals, price premiums and reduced support costs. Organizations invest in improving the customer experience to drive customer lifetime value (CLV)CLV is a function of 4 important elements;Yearly spend Initial cost of acquisitionYearly cost of retentionYearly cost of supportRetention rate/average length of customer relationshipFor the organization focused on improving CLV, it’s about improving the 4 revenue/cost levers above, AND extending the average length of the customer relationship/improving retention. So, how does an organization link what it does every day, every interaction it has with a customer to the 4 CLV levers? Through strategic, operational & technical KPI’s. We have created a CLV framework that links strategic, operational and technical KPI’s together, and illustrates their relationship and impact on the 4 CLV levers, which in turn impact CLV itself. Additionally, we have linked our solutions to each of the operational KPI’s, so that we can help the customer draw a line to how our solution is used daily, and what that means in terms of improving the customer experience, and the indicators that support Revenue & Cost, rolling up to CLV.CEM is about optimizing the interactions, conversations and engagement that occurs throughout the customer journey between and organization and its customers, suppliers and partners, and the cumulative affect optimized interactions have on driving top line growth and bottom-line improvement. Customer service is an enterprise business process that occurs in the “OWN” phase of the customer journey and is delivered in large part by the Contact Center. >2/3 of the customer journey is spent in the “own” cycle of the journey, where a customer has received the product or service, utilize it, maintain it, and renew and ultimately refer. These phases of the journey and the interactions that occur here are absolutely critical in the customer’s overall perception of the brand, and their willingness to repurchase, refer and remain retained. Increasing CLV and the measures that reflect top line growth and bottom line improvement are driven in fact by many operational metrics and measures that are used to measure and manage interactions on a daily basis. The cumulative effect of these interactions and the measures that support them roll up to impact top line growth as illustrated via CLV. Optimizing these daily interactions are a key ingredient in growing CLV. ----------------------Customers have needs and what they do to satisfy those needs is their Journey. Successful organizations recognize this and aim to identify where in this Journey the organization can influence the outcome in their favor. 2/3 of the Customer Journey is spent in the “OWN” phase of the relationship. The “OWN” phase includes all of the needs a customer has after they have acquired the product or service, and now begin the process of receiving it, using it, sustaining it, renewing it and referring it to other potential customers. The “OWN” phase plays a critical role in nurturing customers. The Contact Center plays a critical role in this nurturing process which if successful, ultimately leads to a customer who will remain retained, refer, and repurchase. From a financial perspective, the organizational goal relative to the customer journey is to move customers through the journey as effectively and efficiently as possible. This is measured in different ways. At a high level, organizations invest in CE to improve CLV and customer profitability. What can the organization do today to improve it’s financials, and through this, increase CLV and customer profitability over time? We have created a value framework that allows organizations who play a key role in both the acquisition and own phase of the customer journey to quantify the impact they have on CLV, and link every day operational metrics to top and bottom line financials results. 2 key questions I want to leave you with as we step through this….Where should an organization focus its CE investments, and how do you prioritize them? How do link incremental improvements and operational metrics to CLV?MOVE TO NEXT SLIDE…………….