Is your Customer Experience Strategy Wasting your Money?
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Transcript of Is your Customer Experience Strategy Wasting your Money?
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Is Your Customer Experience Strategy
Wasting Your Money?
The Essential Executive Webinar Series
Sept. 2013Watch the Webinar here:
http://bit.ly/1aHHDIj
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Omer Minkara
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Jim Warren
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Linda Dotts
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Jeanne Bliss
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Use the Q&A window in the
console
Send ane-mail to
Ask Your
‘s
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Discussion 1:
What does your Customer
Experience do for your
business?
Generate Growth
Squander Money
$ $
$ $$
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The Impact of the Empowered Customer
9Avaya - Proprietary. Use pursuant to your signed agreement or Avaya policy.
Changing the Conversation Managing Cost Managing Revenue
Focus Interaction Cost Customer Loyalty
KPI Target $12 Cost/Contact $1000 CLV
Goal 10% reduction 1% increase
Translation $1.20 reduction in Costper Contact
$10 revenue increaseper Contact
Total #Contacts/Year 1M 1M
Year 1 Result $1.2M Saved $10M Earned
Year 3 Result $3.6M Saved $30M Earned
The Changing Customer ConversationFrom Managing Cost to Driving Revenue
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Discussion 2:
How does Investing
in Customer Experience
Best Practices Pay Off? $
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Customer Delight = Financial Gains
$(34) $(43)
$(142)
$29 $28 $8
$278
$100 $91
$273
$84
$(43)
$(200)
$(150)
$(100)
$(50)
$-
$50
$100
$150
$200
$250
$300
Best-in-Class Industry Average Laggards
Impa
ct o
f CEM
Pro
gram
s on
year
-ove
r-ye
ar
reve
nue
chan
ge (i
n $
mill
ion)
, n=2
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Revenue Loss Due to Customer TurnoverIncremental Revenue from Existing CustomersRevenue from Net-New CustomersNet Revenue Impact
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Discussion 3:
How Should Companies
Tie Customer Experience
Investment
Metrics to Those Metrics
CEOs Care About? ?
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Prioritize Based on Business ImpactIncremental improvement in Operational KPIs drive successful top line results
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Best-in-Class Measure the Right Metrics;
70%
58%
48%48%
31%
21%
10%
20%
30%
40%
50%
60%
70%
Established KPIs tomeasure CEM program
results
Monthly review of theeffectiveness of
customer interactionchannel-mix
Automate customerinteractions through
cross-channel customerbehavioral data
Percent of respondents, n=374
Best-in-Class All Others
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1.Make Customer Experience Management a project with a budget, a plan, a business case
2.Make an executive accountable for Customer Experience
3.Know your Customers really well
4.Invest in the contact center as the nerve center of your Customer Experience strategy
5.Change what you monitor and measure to ensure continuous improvement
Summarizing Today’s Key Points
1. Does Your Customer Experience Generate Growth or Squander Money For your business?
2. How does Investing in Customer Experience Best Practices Pay Off?
3. How Should Companies Tie Customer Experience Investment Metrics to Those Metrics CEOs Care About?
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Survey
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for Joining Avaya’s Customer Experience Management Webinar
THANK
YOU
Email your Questions to:[email protected]
www.avaya.com
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