Weitere ähnliche Inhalte Ähnlich wie CX Measurement: How Customer-Obsessed Companies Embrace Journey-Based Metrics (20) Kürzlich hochgeladen (20) CX Measurement: How Customer-Obsessed Companies Embrace Journey-Based Metrics2. 2© 2018 FORRESTER. REPRODUCTION PROHIBITED.
Agenda
› Define and track the right CX metrics for individual
touchpoints and entire journeys
› Test journey hypotheses and prioritize resources across
journeys
› Link CX metrics to your organization's overall KPIs
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Companies compete on their
ability to shape journeys.
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Journeys are as important as
the products themselves in
providing competitive
advantage.
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Neglecting customer journeys hurts business
› Struggle to prove the value of customer interactions.
› Frustrate customers with myopic cross-channel experiences.
› Squander opportunities to boost retention, enrichment, and
advocacy loyalty.
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Journey analytics can help firms move the needle on
customer obsession
› By combining quantitative and qualitative data and focusing on the actual flow of
experiences wherever and however they occur, journey analytics helps people and
systems orchestrate transitions across actions, channels, and events to
maximize customer lifetime value.
› By using data to zoom in on micro journeys and the defining moments within
them, journey analytics helps companies isolate, quantify, model, and track
opportunities to improve CX, operational efficiency, and business results.
› With journey analytics, companies can analyze data across touchpoints and test a
wide variety of journey hypotheses in near real time to determine which
combinations of interactions will yield the desired business results.
› Journey analytics stitches together data horizontally, across silos, to provide an
integrated view of the customer.
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…but many firms are using journey analytics
incorrectly
› To rubber-stamp existing assumptions instead of to discover. A South
American wireless communications firm found that calling customers who
were significantly exceeding their monthly plans to suggest a more
suitable plan actually triggered them to look at competitors and cancel
their service. Journey analytics helped the firm shift to targeting customers
who had modest minute overages and steady usage and were more
amenable to changing plans.
› In silos instead of throughout the enterprise.
› As a one-off project instead of a change management tool.
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BMO’s journey command center
› Look for anomalies in journey data proactively
› Look at the impact of parallel journeys
› Look at the cumulative impact of journeys
› Segment customers based on journey activity
› Assemble permanent and ad hoc scrum teams to
work on journey improvement
› Create pattern interrupts in near real-time
› Use journey data to predict attrition, risk,
engagement, loyalty
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A four-phase approach helps firms achieve value and
scale
› Prove the value. Select the right use case to build a persuasive
success story.
› Establish a common language. Define your journey atlas and
corresponding key performance indicators (KPIs).
› Put in place a vehicle for change. Adopt the right governance to
speed up execution.
› Enrich and automate. Expand and deepen insights with proactivity
and agility.
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Customer journey analytics basic and advanced use
cases
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Source: Pointillist
A premium kitchen accessory company use journey
analytics to increase revenue by 16%
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A leading telecom
provider applied
journey analytics to
reduce call volumes
and disconnects
Source: Pointillist
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A four-phase approach helps firms achieve value and
scale
› Prove the value. Select the right use case to build a persuasive
success story.
› Establish a common language. Define your journey atlas and
corresponding key performance indicators (KPIs).
› Put in place a vehicle for change. Adopt the right governance to
speed up execution.
› Enrich and automate. Expand and deepen insights with proactivity
and agility.
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A journey atlas helps CX pros establish A common
language for journey analytics efforts
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Fragmentation and data silos cause confusion and
competing priorities
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Lloyds banking group's transformation is tackling 10
customer journeys
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Lloyds Banking Group focused on customer value,
employee value, financial benefits, & digital
capabilities
Drivers of the experienceGreater speed
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What does a good metric look like?
1. Clear definition
2. Clear method of calculation
3. Reliability and validity
4. Usefulness
Source: Businessoverbroadway, http://businessoverbroadway.com/know-your-customer-metric
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Pick metrics based on customer quality expectations
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Customer Behaviors
Customer CX Quality Perceptions
Customer Interactions Across
Touchpoints
Loyalty
Service
requests
Price
sensitivity
Outcome metrics
What customers do as a consequence of the experience
E.g.: Likelihood to recommend, purchase $, # web visits ending in
calls
Perception metrics
How customers feel about what happens in
interactions and how this affects their overall CX
E.g. satisfaction, ease
Interaction metrics
What happens during the interaction
E.g.: wait time, time spent on website, errors
CX measurement house: 3 types of metrics
Business success
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Example for metrics linkage by lifecycle
Outcome metrics Beacon metrics Lifecycle stages Perception metrics Operational
metrics*
Frequency of Acct Mgr
contact
CSAT
NPS
# Complaints
Time to resolution
Frequency of escalation
Frequency of repeat calls
and questions
Frequency of calls outside
support hours
Market Share
Growth
Cross-sell
# new
customer
Revenue
growth
Customer
Retention
Cost to serve
Retention
Support is accessible and
available when needed
Support is available through
my preferred channel
Reps have in-depth
knowledge about products
Provides accurate product
information
Perceived timeliness for
resolution of cases
Responsive to questions &
complaints
Discover
Spends time necessary to
resolve issues
Evaluate
Purchase
Use
Get Support
Effort required to get support
Frequency of questions how
to reach support
Wait time to get to support
s
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Financial
Customer
Operational
Employee
Customers’ lifetime
value
Customer profitability
Revenue from repeat
customers
…
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Financial
Customer
Operational
Employee
CX metrics (CSAT, NPS,
CX Index)
Percent of customers
involved in ideation / co-
creation activities
Percent of customers
giving feedback
…
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Financial
Customer
Operational
Employee
Cost to serve by
customer
Percent of customer
interactions enhanced by
customer profile data
Number of service visits
…
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Financial
Customer
Operational
Employee
Employee experience
Percent of employees
undergoing customer
centricity training
Time-to-proficiency
…
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Agenda
› Define and track the right CX metrics for individual
touchpoints and entire journeys
› Test journey hypotheses and prioritize resources across
journeys
› Link CX metrics to your organization's overall KPIs
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Orchestrating journeys across systems and silos
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Design and delivery process with frequent iteration…
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Conceive new experiences through exploratory
design
› Testing many hypotheses fast and flexibly.
To improve its ordering process for its contact lenses Vistakon participated in a
ride-along with a sales rep to meet customers and experience the manual,
spreadsheet-driven ordering process. After seeing how slow and error-prone
the process was, they built a prototype of a mobile ordering app and again
accompanied the sales rep to measure its accuracy and speed. This direct
observation enabled Vistakon to come up with an iPad app that exactly mimics
a physician's stock drawer. It let sales reps tap on products in the virtual
drawer, making the inventory process six times faster and reducing out-of-
stock incidence by 85%.
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Will your customer pay money
for it?
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Leverage collective wisdom through distributed
innovation
› Firms that disseminate research experimentation develop a
workforce of employees with deeper wisdom about customers that
generates novel ideas for experience innovation.
Adobe, for example, gives employees — regardless of role or seniority — an
innovation toolkit called Kickbox. It's a box containing Post-its, a timer,
notebooks, a $1,000 prepaid debit card, and one core direction: Create your
idea and test it with customers. So far, this effort has led to promising new
product ideas, such as a solution for paperless homework.
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Adopt metrics that foster experimentation
› Experiment no everything: sequencing of steps in the journey,
journey duration, intercepts, channel switch, consumer confidence
nudges, display pricing, calls to action, copy simplification, etc
Money Supermarket has adopted metrics like number of teste completed,
implied revenue uplift, underlying conversion rate, traffic running through a test,
win percentage of tests (too high means they are focusing too much on low
hanging fruit), time to production…
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Agenda
› Define and track the right CX metrics for individual
touchpoints and entire journeys
› Test journey hypotheses and prioritize resources across
journeys
› Link CX metrics to your organization's overall KPIs
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Source: How To Do Research For Customer Journey Mapping
Reduce cost to serve…
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The impact of journey analytics…
› A web performance and security company uses journey analytics to set the right tone with
new customers; by connecting data from product usage, email communications, and other
systems, it can highlight the right product features at the right time, doubling conversion
rates and reducing the time-to-convert by 30%.
› A major financial services firm was able to analyze 5 billion customer journey attributes in just
51 minutes and use these insights to test new ways of acquiring customers, prevent
credit card fraud, improve cross-sell, and reduce churn.
› BMO zoomed in on the password reset journey to eliminate extra steps and to avoid
unnecessary calls to the call center and visits to the branch. The result: It increased self-
service resets by 200%.
› Seeing an opportunity to improve its contract renewal journey, a global telecommunications
company set up a queue in its call center for customers nearing expiration of their contracts
so that agents could proactively offer them special renewal options, resulting in an
additional $20 million in revenue.
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Lloyds delivered customer and business value
› New and improved digital offerings.
› Happier customers. New services are boosting simplicity and convenience for customers. For example,
as part of the corporate pension journey, LBG has reduced the time it takes corporate customers to update
employee files from 21 days to 24 hours, resulting in a 78% increase in positive customer feedback.
› More productive employees. Simplifying and digitizing processes and applications means that
employees can spend more of their time helping customers. LBG increased employee capacity for more
value-add activities by 40%.
› Improved sales. Better tools and processes for online personal loan applications have seen the overall
credit acceptance and path to purchase increase by 40%, with the average loan amounts up by £700 at
Halifax and Lloyds Bank.
› Greater speed. LBG is saving money by delivering new services and digital assets faster. It now takes the
group only four to five months to bring something from just an idea to a live product or service — down
from 12 to 18 months in the past. Faster software development and delivery cycles mean that an idea can
become a prototype (presentation layer) in just five days — from 90 days previously.
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Journey analytics delivers benefits across the
customer lifecycle…
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Chief
Journey
Officer
Journey
Command
Center
Autonomous
Journey
Teams
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Summary
› Define and track the right CX metrics for individual
touchpoints and entire journeys
› Test journey hypotheses and prioritize resources across
journeys
› Link CX metrics to your organization's overall KPIs
48. FORRESTER.COM
Thank you
© 2018 FORRESTER. REPRODUCTION PROHIBITED.
Joana van den Brink-Quintanilha
+4402073237697
jvbdquintanilha@forrester.com
Twitter: @cx_joana
Pointillist customer journey analytics
software rapidly uncovers customer
insights, so you can dramatically improve
marketing and customer experience.
Discover & Optimize Your
Customers’ Journeys
Thank you!