Customer experience the new wave

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Customer
Experience
The New Wave
Shankaran Nair
President & Chief Strategy Officer

Customer
Experience
is Great!

Customer
Experience
is Great!
Right?

It Pays To Be America's Most-Hated Companies

The companies you
hate are making plenty
of money. In fact, the
scorned tend to
perform
better than the
companies you like*.
* Source: Bloomberg

* Source: Bloomberg
• Bloomberg compared the 2013
stock returns and ASCI ranking of
146 publicly traded US
companies.
• The most-hated companies
perform better than their beloved
peers
• If anything, it might hurt
company profits to spend money
making customers happy

* Source: Bloomberg
They just don’t
have much
incentive to care….

Thirteen Years of ACSI Data Suggest Otherwise

Historically there is a
positive relationship
between customer
satisfaction and stock
price

• The anomaly in 2013 was due to
the “Junk Rally Phenomenon”
• Investors & VCs are chasing
Unicorns which is driving
valuations up.
• Low cost vs High Quality

Eventually Customer
Experience Really
Matters!

Technologies Clutter

Different technologies / vendors for different stages of the customer’s
journey
Search/Pre-Purchase Journey
Behaviors e.g., need recognition, consideration,
search
Purchase Journey
Behaviors e.g., choice, ordering,
Payment
Post-Purchase Journey
Behaviors e.g., consumption, usage,
engagement, service requests

Communication is changing…

There are more customer
interaction touch-points than
ever before. It’s the age of
omni-channel experience

There are more customer
interaction touch-points than
ever before. It’s the age of
omni-channel experience
But digitization, when not
integrated, leads to cluttered
channels and lack of unified
communication

Interacting with customers is
only half the battle won, to
understand and act on the
data in each interaction is the
real game-changer, which in
turn, drives customer loyalty.

Customers are changing…

In the past, customers shared a personal
rapport with banks since they had to visit
the premises for their needs

Today, a simple click or touch is all it
takes, no matter physical or digital

Due to the growing demand for digital
convenience, personal rapport which was there
in the past is lost.
Customer loyalty, now and in the future, will be
about the availability of convenience and
personal rapport

Discover
Consider
Evaluate
Purchase
Use
The path to purchase
used to be linear…
Expectation
Promise
Reality
Delivery
Evaluate
Discover
Consider
Purchase
Use
Dynamic Accessible Continuous
Branded content and channels
Open content and channels
Now, accelerated by technology,
the customer journey is…

Buying Behavior Has Changed

Different technologies / vendors for different stages of the customer’s
journey
Search/Pre-Purchase Journey
Behaviors e.g., need recognition, consideration,
search
Purchase Journey
Behaviors e.g., choice, ordering,
Payment
Post-Purchase Journey
Behaviors e.g., consumption, usage,
engagement, service requests

Who is the single owner here?
Global
System
Integrators
RIM
ISV’s
Consultants
Cloud
service
providers
Advertising
agencies
Digital
Marketing
agencies
Public
Relations
Data
Centers
Regional
system
integrators
Market
research
firms
Value
added
resellers

State of
Customer
Experience in
MEA

Brand Experience, Customer Experience, User Experience. In fact, it's used so much
that it’s nearly been diluted of all meaning and yet it is one of the most critical
components to success in business today. Companies that once thrived on
innovation, bringing new products and services to market, are finding less reward for
their efforts as competitors are able to quickly match new features and technology -
making them almost indistinguishable from one another. What truly defines a
brand today is how its customers experience its products and
services. It is so important, that successful companies are now shifting their focus
from product innovation to “experience innovation”
Experience is Everywhere
“Customer Experience” shows 223 Million Search Results
on Google

• Service resolves an issue, addresses a need, delivers the result
you expected in the first place.
• Experience goes beyond. It creates lasting impressions,
shareable moments, lifetime reminders.
• Service is what customers expect. Experiences are what they
discover, unexpected, lingering, sustainable – in good ways and
bad.

Steven Paul Jobs

Bernard D. Sadow
United States patent No. 3,653,474

Pause and Rethink
Question the Status Quo

By 2016, 89% of
companies expect to
soon compete mostly on
the basis of customer
experience, versus 36%
four years ago
Gartner
Is this the case with
you?

Only 1% of
companies deliver an
excellent customer
experience
Forrester’s Q1 2015 US Customer Experience Index
Source: JD Power
1. Companies that really
understand customer
experience & deliver it
2. Companies that pay lip service
to the overall customer
experience. They understand the
concept but don’t deliver it.
3. Companies that just don’t
believe customer experience
matters.

Only 1% of
companies deliver an
excellent customer
experience
Forrester’s Q1 2015 US Customer Experience Index
Is this the case with
you?
Source: JD Power

Impact of ‘breaking guitars’
Stock prices fell
by 10%
Bad PR caused
fall in customer
confidence
Losses of over
$180m to
investors

Kulula Airlines – Delivering WOW flying experience, a
lesson to learn
• Kulula Airlines is a South African low-fare airline, operating on
major domestic routes
• Kulula passengers now have the option of pre-booking
emergency exit row seats at a small extra cost.
• "Flying Kulula is always an amazing experience, all the years I
have travelled I only use Kulula, the staff are professional,
efficient, and so friendly. From a Customer point of view, I would
definitely give them a 10 out of 10. Once every year or two I fly
my 83 year old mother in law down from Cape Town to visit and
she will only fly Kulula, she thoroughly enjoys the sense of
humour from the highly experienced flight attendants, the prices
are very accommodating. Kulula caters for everybody, the young,
the old, Executives, and people from all walks of life. Everyone
on that aeroplane gets treated exactly the same. The Flight
Attendants’ go out of their way, to make your flight comfortable
and it always is a memorable experience.”

When the customer
service reps hit the
phones, they are
instructed to do
whatever is required
to make the customer
happy.
75% of purchases
made at Zappos come
from returning
customers, and repeat
customers order more
than 2.5 times every
12 months
We are a service company that happens to sell
shoes. And handbags. And more...

Middle East and Africa in the Digital Age

A majority of companies in
the region will still be
unprepared for digital
disruption

Satisfaction = Expectation - Delivery

Why can’t I
open an
account as
easily as I
can buy a
book from
Amazon?

As a customer we
no longer
benchmark our
experience with
Hong Leong Bank
exclusively with
Maybank or
Citibank…….

…..but with
companies such as
Apple, Amazon,
Starbucks, Zappos.
No Matter What
The Industry!

Apple launched
the iPhone….
After a few
months the whole
industry was
changed

Apple changed
everything by drawing
insights from what
makes successful
interactions between
people and computers

Starbucks was in
huge trouble…..

There are companies that operate huge
global network of stores….
Others distribute their products on grocery
store shelves…
And a few do an extraordinary job of building
emotional connections with their
customers as we have learned to do. But
only Starbucks does all three at scale..
- Howard Schultz, Chairman & CEO Starbucks

CX factor: Banking in Middle East

Create Your Future From Your Future Not Your Past

3 Fundamental Shifts in Customer
Behavior

Power to access
Power to be informed
and listened to
Power to demand

Need For A Future Ready Customer Experience

Every time a customer
interacts with a brand,
they have an expectation
of how that interaction
should proceed.
Research proves that
good experiences attracts
customers while bad
experiences lose
customers. Roughly half
the time when the
customer is disappointed
it leads to churn and
disloyalty.

Having worked with over 600 clients worldwide,
Servion truly understands that the point of
interaction is the moment of truth

The Servion approach to building exceptional
Customer Experience is based on 3D’s:
Discover, Design and Deliver.

Consumer
Psychology
Brand
Management
Service
Management
Systems
Management
• Disparate Ownership
• Lack of Unified
Communication
• Missteps in the Customer’s
Journey
• Disconnected Approach
Towards Customer Loyalty

Customer experience by design and not accident
Servion’s approach to building exceptional customer experience is based on 3D’s – Discover, Design and Deliver.
• Customer Experience. By Design. is our
holistic approach to deliver outstanding and
consistent customer experience.
• The secret lies in tailoring customer
experience on the basis of a brand’s promise
to its customers to ensure their allegiance,
• Then comes the technology and the ability to
interface the customer engagement platform
with the other backend systems.

Thank you!
Shankaran Nair
President & Chief Strategy Officer

Customer experience the new wave

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