Choosing the Quality Indicator for Customer Experience.pptx
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This presentation is designed to guide you through the process of selecting and implementing the most effective quality indicators for enhancing customer experience within your business. Through strategic analysis and actionable insights, AppICE aims to empower your brand to achieve excellence in customer engagement and loyalty.
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4. Design a data collection strategy such as surveys and tracking across channels
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Delight your customer , Surprise your Shoppers , Build a community , Up your social media game , Follow an Impactful strategy , Deliver an Omni Channel Customer Experience , Personalize Customer Experience
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“The ability of people in an organization to understand customers’ situations, perceptions and expectations. The customer should be at the center of all decisions related to delivering products, services and experiences to create customer satisfaction, loyalty and advocacy.”
Customer-centric organizations understand every facet of their customers. Many banks and credit unions measure customer satisfaction just once a year and have call center reports detailing complaints and use that limited analysis to say they understand the customer. Or, worse yet, banking executives often say they know the customers’ needs because they are a customer. There are also variations of, “I know the customer because I’m in the community,” or, “I understand millennials because my children are millennials.”
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If the first question when presenting a business case to the executive team isn’t “How will this affect our customers?” then the organization is not likely to be customer centric.
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What customer value most in their customer experience:-
Prices and Quality remain top of mind for customers as they make purchasing choices. But when customer think about their interactions, positive experience influences purchasing decision in almost every industry. Ecommerce (78%) , HealthCare (82%) , Banking (75%) , Restaurants & Food (76%) , and Telecom (63%)
Delight your customers:-
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Personalize Customer Experience :-
Common Service Language
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Service Reorganizations & Rewards
Voice of Customer
Service Measure and Metric
Service Improvement Process
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Continuous Service Improvement
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NPS stands for Net Promoter Score. An easy way to define NPS is to think of it as a growth indicator. After all, it’s a customer satisfaction metric that helps you find out:
• How satisfied consumers are with your products/services;
• How loyal they are to your brand;
• How likely customers are to recommend your company to others
At the same time, you can also use this metric to predict your customer churn rate, and find out which clients
require an extra boost to become loyal.
CES stands for Customer Effort Score. A good CES definition outlines it as a metric that’s used to measure customer satisfaction levels by focusing on the efforts customers make to interact with your business’ services and products.
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Strategic plans for banks and credit unions are replete with references to their superior customer- or member-centricity. Nearly every financial institution says their competitive edge is their customer service. However, when everyone competes on the same thing – and they all claim to be the best – then the only logical conclusion is the vast majority are clearly wrong.
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When it comes to adjusting their strategy, banks have only a handful of options. They can revisit their strategy and define it differently to reflect a product-centric approach – i.e., lowest cost, unique or specialized products, etc. – or they could double-down on customer centricity and practice what they preach. Assuming they are insistent on customer centricity, what should banks do?
Definition of Customer-Centricity
First, we need to level-set with a definition of customer-centricity. According to Forbes, customer-centricity is:
“The ability of people in an organization to understand customers’ situations, perceptions and expectations. The customer should be at the center of all decisions related to delivering products, services and experiences to create customer satisfaction, loyalty and advocacy.”
Customer-centric organizations understand every facet of their customers. Many banks and credit unions measure customer satisfaction just once a year and have call center reports detailing complaints and use that limited analysis to say they understand the customer. Or, worse yet, banking executives often say they know the customers’ needs because they are a customer. There are also variations of, “I know the customer because I’m in the community,” or, “I understand millennials because my children are millennials.”
A true customer-centric organization holds the customer as the single most important point when making decisions that will affect the customer. Most publicly-traded organizations are likely to fail this test as revenue, income, cost or overall financial impact most often trump customer needs or wants. Similar attitudes abound in privately-held organizations and even credit unions, which are member owned.
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Digital Marketing is a latest method of Marketing techniques widely used across the Globe. Digital Marketing is an online marketing technique and methods used for all products and services through Search Engine and Social media advertisements. Previously the marketing techniques were used without using the internet via direct and indirect marketing strategies such as advertising through Telemarketing,Newspapers,Televisions,Posters etc.
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- 2. In today's competitive market, delivering an exceptional customer experience (CX) is more crucial than ever. The key to surpassing consumer expectations lies in selecting the right quality indicators. AppICE heralds a new era in personalized customer engagement, moving beyond generic campaigns to create truly individualized experiences.
- 3. The Importance of Quality Indicators in CX Quality indicators serve as essential tools to monitor and analyze customer interactions, satisfaction, and feedback. They provide actionable insights that help businesses refine their services, products, and engagement strategies to elevate the overall customer experience.
- 4. The Metrics That Matter AppICE offers meaningful metrics reflecting genuine customer engagement, such as: Conversion rates of personalized campaigns Average lifetime value of customer segments These metrics empower businesses to make data-driven decisions to enhance ROI.
- 5. Key CX Measurement Areas A successful CX measurement strategy encompasses: 1. Customer Journey Touchpoints: Analyzing every interaction point in the customer's journey. 2. Customer Engagement Metrics: Gauging the depth of customer engagement. 3. Customer Loyalty Indicators: Understanding the factors that influence brand loyalty and value perception.
- 6. Spotlight on Quality Indicators Several quality indicators are particularly effective in measuring CX: 1. Customer Satisfaction Score (CSAT) 2. Customer Retention Rate 3. Customer Churn Rate 4. Customer Lifetime Value (CLTV) 5. Customer Feedback Analysis Each of these indicators offers unique insights into different facets of customer satisfaction, loyalty, and the long-term value of business relationships.
- 7. Aligning Indicators with Business Goals To maximize the impact of CX initiatives, it's vital to align CX metrics with broader business objectives. This alignment ensures that improvements contribute directly to enhancing customer satisfaction, loyalty, and business performance.
- 8. Implementing Quality Indicators The successful implementation of quality indicators involves: Adopting Customer Experience Measurement Best Practices Leveraging Customer Experience Analytics Focusing on Customer Experience Improvement Assessing the maturity of your CX capabilities
- 9. Choosing the right quality indicator is essential for deepening your understanding of customer interactions and improving the customer experience. By carefully evaluating, selecting, and aligning CX metrics with business goals, marketers can gain profound insights into customer satisfaction, loyalty, and advocacy.
- 10. The ultimate goal is not just to gather data but to transform it into actionable insights that spur ongoing improvement and innovation. With a thoughtful customer experience strategy, your brand can become a leader in delivering unparalleled customer experiences.