Webinar: Massive Operating Efficiencies of the Digital Customer Experience.
Date: February 8, 2018.
Sushant Ajmani, Vice President, Solutions and Consulting at Course5 intelligence shared his views on how organizations can exceed rising consumer expectations through the Digital Customer Experience (DCX).
A confluence of digital and data capabilities is driving transformation across leading global business organizations. Blueocean Market Intelligence has been enabling digital transformation for Fortune 500 and other organizations through multiple integrated solutions such as Digital Customer Experience (DCX), Social Media Sensing, Integrated Marketing Measurement, and Transformative Digital Center of Excellence.
This webinar was focused on the emerging DCX journey of organizations in Telecom, High Tech, Retail, CPG and others industries, and the compulsions and enablers driving customer satisfaction and operational efficiencies across the spectrum.
Consumer experience is shaping the digital landscape. Across customer facing organizations in Retail, Utilities, BFSI, and other industries, consumers are expecting higher service levels from providers. Here are some statistics for you to consider:
- In the U.K. the estimated cost of customers switching due to poor service is £37 billion, while in the U.S. it’s $1.6 trillion. – Accenture
- Maximizing satisfaction across customer journeys has the potential to increase customer satisfaction by 20% and to lift revenue by up to 15% while lowering the cost of serving customers by as much as 20%. – McKinsey & Co.
Key questions for organizations to consider:
- What kind of churn and switching costs are you facing in your organization? And how are you trying to improve these statistics?
- What is your channel strategy – Is it inward to outward or outward to inward?
- How are you building linkages across channel metrics at every level of customer experience delivery?
Consumer expectations from digital enterprises:
- Immediate responsive service (updated, real time)
- Predictive, Anticipatory Service (based on prior interactions with the brand)
- Consistency (across channels and devices)
- In exchange for this superior service, customers are willing to share their personal data with organizations.
Challenges for organizations on their DCX Journey:
- Understanding changing customer expectations and knowing how to exceed them
- Realizing single customer profiles to gain a 360 degree holistic view of the customer
- Delivering personalized experience at every step of the customer journey across channels and devices
- Choosing the right technology to create better experiences
In Blueocean’s experience driving large Digital Transformation programs that reduced operational costs and improved revenue, here are some lessons learned:
- There is no clear audience personification and journey mapping framework.
- Social is often treated as an underdog even though valuable passive insights lie hidden within social conversations – e.g. customer experience with the brand, distracting elements, predictive elements.
- To execute any large transformation program, you need to execute with minimum 2-3 departments so that everyone understands the value of synergies and a shared goal to be able to give a consistent experience to consumers.
Digital Customer Experience is more than just a technology solution. It requires a smart framework, strong consulting arm, deep domain experience, and a team of evangelists at your organization trying to bring change to your organizational culture.
DCX is a comprehensive framework or methodology that synergizes people, process, and technology to enable an organization to reduce their operational cost, strengthen digital as self-service channels for both B2C and B2B subscribers, and improve customer satisfaction measures (CSAT, CES, NPS) both at channel and organizational levels.
Watch the webinar to view an actual DCX implementation case study at a large Telecom provider by Blueocean Market Intelligence.
Catch up on webinar participant conversations here.
Write to us at firstname.lastname@example.org to learn about how Course5i can enable your organization in its digital transformation journey.