Insurers' journeys to build a mastery in the IoT usage
Engage Customer 2015 - Future of Customer Experience in 2020
1. A 20:20 Vision for CX
Mark Hillary – Carnaby - @markhillary
Engage Customer Summit - November 2015
2. Looking Ahead
• Just look back to 2010 to see how much
can change in just 5 years
• Arthur C Clarke: “Any sufficiently advanced
technology is indistinguishable from
magic.”
3. • Virtual Reality
• Augmented Reality
• Wearables
• Internet of Things
• Automation / Robots
• Location Awareness
Magic Driven by Technology
4. Hierarchy of change
• What is specifically changing or requires
focus in CX now?
• How are organizations / enterprises
changing?
• How is society/customer changing?
A Changing World
5. • How the customer journey is changing
• Voice remains important
• Omnichannel
Changing CX
6. • World turned upside-down from channels defined
by brands to customer demand
• Customer expectation is of communication at
many different stages in the journey and on many
channels
• Traditional journey was discover a product, take a
look, buy, engage afterwards
• Now we have social engagement, online ads, price
comparison, reviews, blogs, videos… a customer
going to buy a TV knows the spec, price, and
competitor prices before ever walking into a store
The Customer Journey
7. • The downfall of voice has been long
predicted, but it is a secure channel, it allows
problems to be resolved when a call is
concluded
• Therefore it will remain an important part of
the mix, but it should be easier to access –
click to call for example
• Look at this Teleperformance (US) data for
example…
Voice
8. 8
CHANNELS PROVIDED BY COMPANIES & CONSUMER PREFERENCE | USA 2015
And in our analysis, companies
offer the following channels…
PROVIDED
Source: WW Multichannel CX Survey (2015), Teleperformance CX Labs
We asked the customer “if you
could choose, which ...”)
PREFERRED
11. • Driven originally by customer demand for
multichannel service – customers will not accept
that brands can receive communication on
different channels, but they are not connected
• Now seen as a way to create extra value from
customers … Walmart customers spend $1,400 a
year in stores, $200 online, but multichannel
customers spend $2,500
• No longer just about survival, a great omnichannel
strategy can now change the game – look at
L’Oreal for a great example
Omnichannel
12. • Forget revenue, profit, or cost reduction, the #1
executive focus is now the customer experience
• Look at FinTech taking on the banks – apps entirely
focused on making customers love the service
• Ideally brands want to turn customers into fans –
building relationships that last
• Requires the creation of a Customer Experience
Hub. Need to consider every touch point between
customers and your brand and coordinate
together. Marketing and Customer service are no
longer separate functions
Changing Organisations
13. • World’s largest taxi company owns no taxis (Uber)
• Largest accommodation company owns no hotels
(Airbnb)
• Largest phone comms companies own no telco
infrastructure (Whatsapp and Skype)
• Largest retailer has no inventory (Alibaba)
• Largest media owner creates no media (Facebook)
• Largest movie provider owns no cinemas (Netflix)
• Largest software vendors don’t write software
(Apple and Google)
Changing Organisations
14. In addition to CX and company structures, think for a
moment how society itself has changed recently:
• How we source and curate news
• How we find a new partner
• How we transfer money or seek loans
• How we engage politically
• How we get educated
• How we find a new job
In just the past decade, almost every human
interaction has been changed in some way…
Changing Society
15. If you work in CX…
• You have a secure future
• The customer relationship is becoming the
key priority for most companies
• Your importance to the executive team is
becoming more important than ever
• It’s easier to cross into many different
areas of the business with CX being valued
Summary – the good
16. • Change is faster than ever
• Failure is not an option
• Customers are in charge, not 3-year-plans
from the boardroom
• You need internal flexibility and better
relationships with suppliers, not traditional
multi-year outsourced deals with fixed KPIs
• It’s exciting, but the CX team have their feet
over the fire now – make or break time
Summary – the bad
17. Summary - takeaways
Focus on these three key areas:
• How are your customers changing? Are they
communicating differently? Be open to new
behaviour and engage with them.
• How can your company change to pull together all
customer interactions into one coordinated team?
Your own Customer Engagement Hub.
• Create short-term goals based on how we know
CX is immediately changing… omnichannel,
channel shift, customer journey
Companies provide an average of 6 channels of interaction
AIRLINES
Avg channels used 2015 | USA
2.06
Gen X: 2.31
Gen Y: 2.74
CREDIT CARDS
Avg channels used 2015 | USA
1.60
Gen X: 1.86
Gen Y: 1.94
E-RETAIL
Avg channels used 2015 | USA
1.33
Gen X: 1.81
Gen Y: 1.26
BANKING
Avg channels used 2015 | USA
2.2
Gen X: 2.3
Gen Y 3.0
MOBILE SERV
Avg channels used 2015 | USA
1.27
Gen X: and Gen Y : 1.34
PAYTV
Avg channels used 2015 | USA
1.20
Gen X: 1.20
Gen Y : 1.32