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
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
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.
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