The Business Value Of Customer Experience

Experiences happen anytime, anywhere, all day, every day

mobilesociallocal

of consumers will PAY MORE for a better Customer Experience.*86%

*Source: Harris Interactive Customer Experience Impact (CEI) Survey, September 2011

What is Customer Experience?

“Customer experience is the sum of all interactions a customer has with a supplier of goods or services, over the duration of

their relationship with that supplier.”

Source: http://en.wikipedia.org/wiki/Customer_experience

DESIRABLEDESIRABLE

Understand What Matters Most To The Consumer

Consumer ValueIntent, Expectation, Perception

Do You Understand Your Customers?

Understand me.Make it easy.Give me what I need.“

”

1. Moments Influence Attitude2. Attitudes Drive Behavior3. Behaviors Delivers Results

Understand Consumer Behavior

The Customer Experience LifecyclePURCHASE RECOMMEND

MAINTAIN

RESEARCH NEED RECEIVE USE

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SELECT BUY OWNSupport & ServeMarket & Sell

The Moments Of Truth & OpportunityThat Define The Experience

Not all moments of interaction are equal

Behaviors Deliver ResultsMeasurements of a Behavior• Conversion rate = Success in turning Shoppers into Buyers• Loyalty = Satisfaction to buy again• Advocacy = Sharing recommendations with others• Churn = Leaving you to buy from someone else• Self Service Rate = Adoption of web based support

http://www.badgeville.com

Attitudes Influence BehaviorsChange Attitudes To Change Behaviors• Conversion rate = Confidence I am making the right decision• Loyalty = Belief that I continue to get value from you• Advocacy = Credibility that I risk my personal reputation for• Retention = Perception of unique, unmatched value• Self Service Rate = Empowerment to self solve at own pace

http://www.badgeville.com

VIABLE

Understand The Business Impact

Business ValueAcquisition, Retention, Efficiency

CX Value Equation – CARECX = Acquisition + Retention + Efficiency

RRetention (Build Trust &

Strengthen Relationships)

AAcquisition (Increase Sales

& Adoption)

EEfficiency (Reduce Costs

& Effort)

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