become a customer-focused organization - e source · cx leaders outperform the market eight-year...
TRANSCRIPT
Thursday, November 17, 2016
Maureen Russolo
Vice President, Strategic Business Development, E Source
Become a Customer-Focused Organization
Real-World Examples
Brooke Hansen
Corporate Account Manager, Qualtrics
© 2016 E Source | www.esource.com 2
The Reality for Utilities Today
Time is not
a luxury they
have
They’re
experiencing a
lot of concurrent
change
Utility revenues
are flat or
declining
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Who Are You Being Compared To?
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We need to
understand what
customers want
and value
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CX Leaders Outperform the Market
Eight-year stock
performance
comparison of
customer experience
(CX) leaders, CX
laggards, and the
S&P 500 Index
(2007–2014)
110%
0%
107.5%
72.3%
27.6%
CX leaders S&P 500 Index CX laggards
Source: Qualtrics
© 2016 E Source | www.esource.com 6 ©2015 QUALTRICS LLC. ©2015 QUALTRICS LLC. ©2015 QUALTRICS LLC. ©2015 QUALTRICS LLC.
L A G G A R D S L E A D E R S
React to customer issues Proactively use market
research to deliver ahead
of expectations
Source: Qualtrics
© 2016 E Source | www.esource.com 7 ©2015 QUALTRICS LLC. ©2015 QUALTRICS LLC. ©2015 QUALTRICS LLC.
L A G G A R D S L E A D E R S
Fail to actively manage
employee engagement
as a key driver of customer
satisfaction
Implement full CX programs
that help monitor and improve
employee engagement
Source: Qualtrics
© 2016 E Source | www.esource.com 8
The need:
enhance your
KNOWLEDGE
about Your customers
Your employees
Your market
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2 Quick Polls
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Enterprise Feedback Management (EFM)
© E Source
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EFM: Modernize to Control Your Future
Gather input in new ways
Look to new sources
Amalgamate data into a
single view
Get analysis and reports that
drive meaningful action
Use a tool that’s targeted to
meet your specific needs
COST
REVENUE
CULTURE
New customers
Cross-sell
Reduce churn
Process
improvement
Compliance and
consistency
Customer-centricity
Cross-functional
change
© 2016 E Source | www.esource.com 12
Brands and organizations
9K +
of the top 100 business schools
99
Users
2M +
Used In
Countries
75 +
The world’s leading insight platform
PROVO / USA
DUBLIN / IRL
SYDNEY / AUS
SEATTLE / USA
Qualtrics Is Our Technology Partner
© 2016 E Source | www.esource.com 13
NPS RECORD INCREASE IN NET
PROMOTER SCORE (NPS)
New Standard J.D. POWER AWARDS FOR
CUSTOMER EXPERIENCE
Research IMPROVED RESEARCH =
ACTIONABLE DATA
Results IMPACTING
SATISFACTION
Since 2012, ComEd has
increased its customer
satisfaction score more than
any other large electric utility
company in the United States.
J.D. Power now references
ComEd’s bill redesign as a
best practice for all utility
companies.
ComEd increased its ability to
deliver actionable insights and
fast-track critical projects.
In less than a year, ComEd—with
confidence—circulated a new
billing statement to nearly 4
million households, knowing that
it would be well received and
would have a positive impact on
customer satisfaction.
©2015 QUALTRICS LLC.
“Other utilities around the country have called us to ask us
how we did this bill transformation, and how we did it so
quickly. Well, we used Qualtrics.“
COMED + QUALTRICS
© 2016 E Source | www.esource.com 14
+12 points NPS GAIN IN 3 MONTHS
$3.2 Million INCREASE IN PRODUCT
REORDERS
10,000 SURPRISED AND
DELIGHTED CUSTOMERS
Prior to Qualtrics Vocalize, the
company didn’t have a way to
close the loop and respond to
customers’ concerns.
3.8% increase in product
reorders translates to more
than $3.2 million in additional
revenue since launch, driven by
empowered employees who go
above and beyond.
Executives and others send
10,000 thank-you notes each
month and fulfil unique
requests for everything from
pizza to sports tickets.
“We saw this huge opportunity
using Qualtrics to track and
directly respond to people’s
input.”
©2015 QUALTRICS LLC.
“I’m so delighted; you have me for life!”
1-800 CONTACTS + QUALTRICS
Awards INNOVATION IN SERVICE
EXCELLENCE
© 2016 E Source | www.esource.com 15
40% FASTER RESPONSE
TIMES
30% INCREASE IN
CONVERSION RATES
10% INCREASE IN
ENGAGEMENT RATES
REVERSED NEGATIVE
PRESS TRENDS AND
GENERATED POSITIVE
PRESS
Qualtrics technology helped
create faster and easier
experiences for millions of
healthcare seekers on the
highest-volume healthcare
website in the world.
Qualtrics collected website
feedback from 130 million
individuals using site-specific,
targeted surveys to make
changes in real time and
dramatically improve site
conversion.
Better experiences translate to
higher engagement and
satisfaction, which increased
registration numbers.
Press coverage for
HealthCare.gov has virtually
done a 180 from negative to
positive—driven largely by the
insights from Qualtrics
solutions.
©2015 QUALTRICS LLC.
10 Million Registrations
Made Fast and Easy by Qualtrics
HEALHCARE.GOV + QUALTRICS
© 2016 E Source | www.esource.com 16
What’s in a Winning EFM Strategy?
Apply results to
corporate key
performance
indicators
Integrate findings
to create a world-
class CX strategy
Capture information
from all the right
channels
Create dashboards
of relevant
information
Get the right
information to
decision-makers
Create visible,
actionable
metrics
Identify the
drivers of
customer value
and areas of
focus
Measure CX
improvements in
narrow, selectively
chosen areas
© 2016 E Source | www.esource.com 17
Our EFM Approach
Understand
and plan
Implement
Improve
Assess
Act
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On-site employee interviews and surveys
On-site customer interviews
Customer phone interviews
Online customer surveys
Review of your material
Understand and Plan
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Implement
Use templates to
make survey
creation painless
Easily edit
surveys in
real time
Use employees’
and customers’
preferred channel
© 2016 E Source | www.esource.com 20
Assess
Get results from a
single, integrated
dashboard
Gather results
across all
platforms
Track comments
in real time
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Quick Poll #3
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Act
Tailor dashboards to
specific audiences
Integrate text and
web analytics
Drive immediate action
with real-time results
Zoom out to see
larger trends
Assemble critical proof
points for business cases
© 2016 E Source | www.esource.com 23
Want to Learn More About How to Modernize Your CX Research?
Maureen Russolo
Vice President, Strategic Business Development, E Source
303-345-9146 [email protected]