Customer Experience, Digital Transformation & Calculating ROI –A realistic approach

Mark Grainger

VP Sales, Engage Hub

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Digital customer

Experience

Client ExperienceData

Orchestration

Internet of Things

Customer Experience

Data Warehouse

Digital TransformationArtificial Intelligence

Ch

atb

ots

Big

Da

ta

Cyber

Security

Dig

ita

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inn

ov

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n

What is Digital Transformation?

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Bill Schmarzo, CTO, Dell EMC Services

Digital transformation is the application of digital capabilities to processes, products

and assets to improve efficiency, enhance

customer value, manage risk and uncover

new monetisation opportunities.

How digital transformation can transform your business.

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Increased customer retentionOn average, customers who have a high-quality

experience are 2.7 times more likely to keep doing business with a brand than customers who

have a low-quality experience.

Greater cross-sell and upsell potentialOn average, customers who have a high-quality

experience are 3.6 times more likely to buy additional products and services from a brand.

Lower customer acquisition costsBecause positive word-of-mouth

recommendations bring in new customers without marketing-related acquisition costs.

Decreased costs of serving customersHigher quality experiences mean fewer customer

issues to resolve. This translates into fewer calls to the contact centre and a subsequent reduction in

contact centre costs.

The digital transformation timeline.

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1990

1992

1995

1996

2004

2005

2009

2010

2015

2016

2017

2018

2007

Technological change dominates business thinking.

Source: 2018 Forrester Research, Inc.

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Which of the following will have the greatest effect on your business?

Technological changes

(e.g digital transformation)

Competition or

disruption in our market

Economics

(e.g global market dynamics)

Politics

(e.g political uncertainty)15%

38%31%

16%

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‘When can I get an update?’

‘Can I have it tomorrow?’

‘I’m not waiting for 5 day delivery’

‘I need it now’

‘I want to feel special’

Your customer wants it all.‘I want a brand to understand me’

‘I want everything’

‘I want tailored messages to be faster’

‘It’s taking too long to load’

The consumer is in the driving seat.

Consumers expect to be treated like individuals

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Consumers don’t mind

paying for a better service

Consumers expect an

immediate, responsive service

Businesses must be able to efficiently

and effectively transform customer

data into personalised and

predictive experiences.

So where do

you begin?

Netflix classic red envelope (circa 2005)

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Source: https://medium.com/@nvenkatraman/netflix-a-case-of-transformation-for-the-digital-future-4ef612c8d8b

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Innovation

Transformation Disruption

DVD-by-Mail &

Subscription Revenue

Brick-n-Mortar storesFailed transformation

of Blockbuster

1.0

Source: https://medium.com/@nvenkatraman/netflix-a-case-of-transformation-for-the-digital-future-4ef612c8d8b

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Innovation

Transformation Disruption

Video streaming with

deep insights on

preferences

Linear television to

non-linear TV apps

replacing channels

Production of shows

based on customer

preferences

2.0

Big data gamble paid off.

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Banking 365 – Digital activation.

Overview

• Solution enabling customers to self-serve 365 registration and

activations through digital channels (IVR & SMS) thus removing

the need for customers to speak with an advisor and

complete the process

• Approx 800 calls per day are received from customers to

digitally activate

• Prior to implementation of self-serve journey all of these calls

were fielded by an Advisor

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Banking 365 – Digital activation.

Delivery

• Broken into two phases:

• Phase 1 – New to Bank Personal Current Account customers.

• Phase 2 – Back Book Personal Current Account customers and Pin Reset customers

• Phase 1 New to Bank PCA customers implemented in

February 2018

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Banking 365 – Digital activation.

Results

• 52% of customers are self-serving and digitally activating without the need to speak to an Advisor

• Customers can call and complete e2e Activation process in just

under 3 minutes. Reduced call wait times

• 89% Satisfaction from customers who complete the process with

no advisor support

Continuous Improvement

• Incorporate identified process improvements for inclusion in Phase

2 delivery

• Enable back book digitally active customers to self-serve to reset a

blocked digital Pin

• Additional contact reduction opportunity – circa 1k calls per week

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Learning,

advice &

approach.

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Log early wins to demonstrate value creation.

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Don’t stop measuring

Measuring ROI of digital transformation.

Understand your digital transformation objectives

Clearly define your cost centres

Take a wide view of measurement

Set realistic timescales and milestones

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