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Customer Experience Is The New Loyalty: Or is it the Other Way Around?
- 1. (c) 2016 rDialogue LLC. All rights reserved. NOEW March 17, 2016
- 3. “The purpose of a business is to create a customer” “Nothing happens in a business until somebody sells something.” The purpose is also then, to retain that customer.
- 9. Customer Experience = Sum total of all customer interactions, at all touch points, both online and offline, throughout the customer lifecycle
- 10. Own the customer relationship Drive organic growth Relevance (differentiation) vs. mass promotion Value of Big Data Fewer technology gaps Align investments with value Loyal Customers Make A Business Great Economics
- 11. Average Sales Lift Per Loyalty Member Retailer 3Retailer 1 36% 56% 70% Retailer 4 140%¹ 92%98% 121% 151% Retailer 2 Retailer 5 Retailer 6 Retailer 7 Source: ¹Huffington Post, 2014, Other Retailers: rDialogue Proprietary Data On par with Amazon Visa cardholders1
- 12. Deliver three times the value to the brand a year 3X5X Source: Rosetta Customer Engagement 2014 More likely to indicate it is the only brand they purchase in the future
- 13. “We will continue to focus relentlessly on our customers.”
- 14. A single purchase? A community of buyers? A long-term relationship? Wildly devoted customers who… Drive an extra mile? Have your app on their home screen? Will buy full price without a second thought? Get excited when they talk and share – with friends, with strangers?
- 17. “Allow us to pay attention to you and we’ll make it worth your while.” “If I share my data and let you track me, be relevant, make it worth my while, and don’t waste my time.”
- 18. “Customers will not tolerate companies that have amnesia when it comes to remembering them and their preferences for recognition. [They] ...believe that they have a relationship with a provider once they have transacted with that provider...the experience should be mutually beneficial, and therefore designed with them in mind – similar to most relationships.”
- 21. Segment / Model Assignment Channel Preferences Demographic NPS, Profile Explicitly Gathered Data Implicitly Gathered / Created Insights Product & Services Bought/Used Wish List, Shopped / Gifted Items Purchase Patterns & Preferences Service Needs & Channels Competitive Threats Loyalty (at brand, via card) Value / Response Drivers Research / External Data Engagement – Social, Mobile, etc. Transactions & Payments CRM Database + Personalization Rules + Campaign Mgmt. Tools Owned & Shared Social Store, Events Partners Owned Email, Web Brand, Mobile Product Services
- 22. “You can’t have everything. Where would you put it?” - Steven Wright
- 23. Value per Consumer Not Ready: Treat Promotionally Engage Quickly: Selectively & Cost Effectively Prioritize Segment: Opportunity & Volume Ideal Upside Limited: Focus is to Protect, Not Grow #ofCustomers
- 24. Season Ticket Holder Game Attendee The Steelers Nation Club Level Members High Frequency Low Incremental Value Exclusive stadium experiences and product Direct, 2nd and 3rd party purchasers Mid Frequency Mid Incremental Value Game day and stadium experiences Local, National, International Fans Low-Mid Frequency Mid-High Incremental Value Part of the Steelers Family
- 25. Customer Inputs (Value Drivers) • Ticket Data, Class of Service + Extras • Travel Routes • Preference Data • Social / WOM Activity • Booking Channel • Form of Payment • Spend and yield Business Outputs (Business Tools) • Reserved seat / seat quality • Seat Upgrade • Waived baggage fee • Security clearance • Lounge access • Boarding group • Thank you (explicit, personal) • Tier Status Airport Experience Onboard ExperienceSkyMiles Credit Card Digital & Social Partners Delta Call Center
- 30. Answering the ultimate question... +223% +226% +398% Loyalty Leader 5-year Stock Performance vs. S&P 500 as of 16 March 2016 AMZNSBUX S&P 500 +54% DAL
- 32. Type of Experience Examples Personalized store experience driven by data Enhanced customer experience driven by new technology Expanded product experience and brand interaction Brick and mortar store experience that extends the brand Content-driven shopping experience
- 33. Don’t solve for every customer Exploit scarcity Collect and use data Navigate for customers, set their path(s) Measure and most importantly, Leadership
- 34. Whether you call it CX or loyalty marketing, they both mean: Pay attention to customers and act accordingly This is where they unify
- 35. Thank You For more information about rDialogue, please contact: Phil Rubin CEO 404.475.5801 office 404.272.6400 mobile 115 Perimeter Center Place, Suite 945 Atlanta, GA 30346 http://www.rDialogue.com/expo www.relevantdialogue.com (blog) @rDialogue @phil_rubin phil@rDialogue.com
Hinweis der Redaktion
- The purpose of a business must also be to retain that customer
- It’s not the age of mobile or content; rather that’s where customers engage and what they expect (relevant content) This is about a business strategy, not just marketing; and not just e-commerce
- Voice over: Take a card – CX on one side, Loyalty definition on the other side. Then, let’s take a look at both sides. How close to each other are your definitions? They should be very close.
- Why is the bar so low? IT’S NOT EASY!!! If it were then more brands and merchants would get it and do it.
- Why is the bar so low? IT’S NOT EASY!!! If it were then more brands and merchants would get it and do it.
- First, semantics: CX, customer engagement, crm, customer loyalty They are all one in the same but it’s a matter of perspective Loyalty is a function of the CX but also the value/perception delivered, which includes the brand and the ability of the brand to be relevant to the customer CX is not the same as customer service, nor is it limited to e-Commerce or the e-Suite Ultimately, whatever you call it, it’s a business strategy Loyalty is a goal: CX is the strategy (which supports engagement and ultimately, loyalty) Is Loyalty a function of CX or the goal of a CX strategy? Again, differentiated CX becomes an enabler of loyalty that can’t be easily matched
- Why pursue a “Great CX” Strategy? - It’s good business (economics of reaching “owned” customer relationships, less discounting and mass promotion, etc.) - Customers pay a premium for a better CX while they have higher expectations than ever (at least the good customers, i.e., those that will be loyal) [inherently at odds with pricing transparency and efficiency of ecommerce but then again it’s why you need to differentiate elsewhere, i.e., CX - CX stickier, creates habit with value tied to the brand - Fewer and fewer options to drive organic growth: mass marketing is mostly over - it’s all about fragmentation and segmentation; personalization and customization; engagement and relevance; unless you’re Apple, it’s not enough to have great products —> you have to have great customers It’s a platform for differentiation that doesn’t directly rely on $$ which can be easily matched by competition Most customers set their expectations really low because most industries don’t focus on it yet. CX becomes the platform for growth and retention
- Transactional: buy from us, get stuff - relationship building (it’s about our brand) Talk through the fact that loyalty programs are over used. Too many of them. Our view is let’s give them a better experience, and create a mechanism to engage with them, to bring them relevance.
- This requires transparency “If I share my data and let you track me, be relevant, make it worth my while, and don’t waste my time.”
- This requires transparency
- Brands – customer centric approach / Vendors – look at CX with your clients and the end-user CX must be pervasive and smart at every step. Explore / Browse Opt-In / Opt-Up – Customer Reveal / ID, Social Shop Buy- Pay attention, track Use – Mutual Benefits, Learning Repair – Service Issues, Preferred Channel, Knowledge Level, Product / Messaging Needs Advocate – What fuels advocate? (e.g. great shopping experience, surprise and delight?) Not just omni-channel, but omni-present Collect data and deliver relevance at every touch Connect data and communications centrally Prioritize the strengths of each channel to deliver CX Differentiate by customer value
- Brands – customer centric approach / Vendors – look at CX with your clients and the end-user CX must be pervasive and smart at every step. Explore / Browse Opt-In / Opt-Up – Customer Reveal / ID, Social Shop Buy- Pay attention, track Use – Mutual Benefits, Learning Repair – Service Issues, Preferred Channel, Knowledge Level, Product / Messaging Needs Advocate – What fuels advocate? (e.g. great shopping experience, surprise and delight?) Not just omni-channel, but omni-present Collect data and deliver relevance at every touch Connect data and communications centrally Prioritize the strengths of each channel to deliver CX Differentiate by customer value
- The loyalty business case is an investment strategy that reflects front-end and back-end design
- The loyalty business case is an investment strategy that reflects front-end and back-end design