Bringing CX into the C-Suite By Lyn Trewenack, BBB Advisory AGENDA - PowerPoint PPT Presentation

Bringing CX into the C-Suite By Lyn Trewenack, BBB Advisory

AGENDA • CX and business success • The hidden cumulative customer experience • Tell me, show me, help me, to experience what the customer does Case Studies: • Keeping your fingers on the CX pulse • Calculating the ROI of significant CX investments

AGENDA

Your CX impacts your business success Competitive differentiator A bad CX can make or break your business Staff engagement – look after staff CX & revenue, stock performance, profit, market share & share of wallet

The hidden cumulative CX

Tell me, show me, help me... Manage by metrics, know the drivers Create a balanced, real time CX view Rely on a CX Enquiry Diagnostic for fact-based decision making

CX metric overload • • • Employee absenteeism Job understanding Perception of work conditions • • • Emp satisfaction Glassdoor score Relationship with colleagues • • • Emp voluntarily work outside formal Relationship with manager Recognition by org • hours Career opportunities • • • Speed of answer Escalation rates Shipping defect rates • • • Accuracy of pricing Customer data quality Process adherence • • • End to end txn times Complaints % Network uptime • • • # support requests Mean time to failure Breaches • • • Product review ratings Service satisfaction score Complaint resolution time • • • First call resolution rates Call abandonment rate Customer effort score • • • # product/service upgrades Mystery shopper scores Incident rate • • • Cart abandonment rate Process satisfaction Product satisfaction • • • Loyalty program enrolled Av customer tenure # repeat orders • • • Use of multiple channels Product usage Customers likely to defect • • • Purchase frequency Loyalty program participation Adoption of new products • • • Customer attrition Renewal rate Deactivation rate • • • Net promotor score Brand perception Website usability benchmark • • • Customer referrals # brand advocates Sentiment score • • • Trust rating Reputation rating Social network participation • • Price sensitivity Brand value

CX key metrics and drivers • The #1 driver of CX is Ease • The #1 driver of CSat is Resolution

5 CX key metric areas Employee Quality Customer Loyalty/ Advocacy engagement operations satisfaction retention ESat ASA/GoS/SL + CSat Roll in/out; NPS End to end txn CES /tenure times FCR

CX key indicators, drivers & levers KPI/metric Drivers Was it easy to resolve? Customer Effort Score (CES) #1 Ease - proxy for overall CX Was he satisfied with the CSat (with interaction) #1 Resolution interactions? NPS (recommend) Ease Would he - Similar to Overall CSat Speed of response (ASA/SL/GoS) recommend United?? Resolution Loyalty/retention Difficulty to exit Did he fly again Poorly handled event with United?

KPI, drivers & levers case study: NPS, ASA and CSat Please contact Phil Prosser of Feedbackasap for CX research information : Phil@feedbackasap.com or 0402 533 333 Or Lyn Trewenack at BBB Advisory to discuss CX metric interdependencies, KPIs, drivers, levers and benchmarks lyn.trewenack@bbbadvisory.com.au or 0408 889 209

Case Studies: A balanced, real time view “I was so confused “So why did <Consultant> email and didn’t know me the form if I can’t print it?” what to do. Julie patiently explained it to me and helped me out” “It’s too hard to make a claim. I’m over it. What’s the point – it’s so hard to make a claim”

Case Study: Shining a light on the ‘black hole’ • Design a managed, controlled, sustainable, balanced program, across the whole Fund • Conduct and share a CX enquiry diagnostic , engage stakeholders in it • Share member feedback – in their words – tickers? • Bring the people to life (photos, names, compliments, member stories) • Curate the performance with meaningful insight of what your audience are impacting • Get sponsor buy-in to share customer and contact stories (admin, advice, claims) • Listen to customers – often, and make sure your team do too, share it • Tailor data and stories directly related to the stakeholder group • Use existing fit for purpose channels & events

A CX Enquiry Diagnostic provides in-depth insights and ROI base data Contact Lyn Trewenack at BBB Advisory to explore how a CX Enquiry Diagnostic can add insights to your CX 42.9%� of� customers� started� as� Confused,� this� lyn.trewenack@bbbadvisory.com.au or 0408 889 209 was� reduced� to� just� 4.8%� at� conclusion� of� call Call� time 5% 11% Calls� placed� on� hold Confused 21% Happy Neutral� Upset� All� � calls 63% 0 200 400 600 800 1000 seconds Av� hold ACW ATT AHT Previous Contacts (Front Counter) Top� 13� Contact� Reasons� equate� to� 70%� of� Contacts 12% Contact reason candidate for elimination % of Calls 9% 11% 11% 7.7% Did you receive my fax/email? 10% 9% Top 10 Call Drivers 5.4% Where is my $ (within 5 days of email sent)? 31% 8% 7% 4% 6% How much am I paying/account balance? 4.0% 6% 5% 5% 5% 5% Online Registration Issues 4% 4% 4% 4% Is anything else needed apart from what I sent? 5.8% 3% 7% 4% 17% 3% Access My Super - Retire/Payments 29% Contact reason candidate for automation 2% Balance of Account 6% Change SP amounts 10.0% 0% Roll In/Out - Want to Transfer How do I make a claim? 9.7% 17% 8% Access My Super - What ID/Forms? 17% Login issue online – user ID 5.3% Access My Super - How/When Will I Receive Funds Add/change personal details 3.7% 8% Balance - Account Rundown 12% Contributions - Tax Deduction 9% Access My Super - Medical/Urgent Assisstance 12%

6 KEY POINTS 1. CX does impact business success 2. Ensure visibility of all CX interactions 3. CX KPIs – CES, CSat & NPS 4. Keep your fingers on drivers and levers of CX 5. Listen to live customer interactions - regularly 6. Rely on a Cx Enquiry Diagnostic to inform ROI and CX improvements For more information, don’t hesitate to contact lyn.trewenack@bbbadvisory.com.au tel: 0408 889 209

Thank You By Lyn Trewenack, BBB Advisory lyn.trewenack@bbbadvisory.com.au