customer experience, digital transformation & calculating ... · increased customer retention...
TRANSCRIPT
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Customer Experience, Digital Transformation & Calculating ROI –A realistic approach
Mark Grainger
VP Sales, Engage Hub
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Digital customer
Experience
Client ExperienceData
Orchestration
Internet of Things
Customer Experience
Data Warehouse
Digital TransformationArtificial Intelligence
Ch
atb
ots
Big
Da
ta
Cyber
Security
Dig
ita
l
inn
ov
atio
n
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What is Digital Transformation?
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Bill Schmarzo, CTO, Dell EMC Services
Digital transformation is the application of digital capabilities to processes, products
and assets to improve efficiency, enhance
customer value, manage risk and uncover
new monetisation opportunities.
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How digital transformation can transform your business.
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Increased customer retentionOn average, customers who have a high-quality
experience are 2.7 times more likely to keep doing business with a brand than customers who
have a low-quality experience.
Greater cross-sell and upsell potentialOn average, customers who have a high-quality
experience are 3.6 times more likely to buy additional products and services from a brand.
Lower customer acquisition costsBecause positive word-of-mouth
recommendations bring in new customers without marketing-related acquisition costs.
Decreased costs of serving customersHigher quality experiences mean fewer customer
issues to resolve. This translates into fewer calls to the contact centre and a subsequent reduction in
contact centre costs.
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The digital transformation timeline.
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1990
1992
1995
1996
2004
2005
2009
2010
2015
2016
2017
2018
2007
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Technological change dominates business thinking.
Source: 2018 Forrester Research, Inc.
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Which of the following will have the greatest effect on your business?
Technological changes
(e.g digital transformation)
Competition or
disruption in our market
Economics
(e.g global market dynamics)
Politics
(e.g political uncertainty)15%
38%31%
16%
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‘When can I get an update?’
‘Can I have it tomorrow?’
‘I’m not waiting for 5 day delivery’
‘I need it now’
‘I want to feel special’
Your customer wants it all.‘I want a brand to understand me’
‘I want everything’
‘I want tailored messages to be faster’
‘It’s taking too long to load’
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The consumer is in the driving seat.
Consumers expect to be treated like individuals
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Consumers don’t mind
paying for a better service
Consumers expect an
immediate, responsive service
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Businesses must be able to efficiently
and effectively transform customer
data into personalised and
predictive experiences.
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So where do
you begin?
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Netflix classic red envelope (circa 2005)
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Source: https://medium.com/@nvenkatraman/netflix-a-case-of-transformation-for-the-digital-future-4ef612c8d8b
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Innovation
Transformation Disruption
DVD-by-Mail &
Subscription Revenue
Brick-n-Mortar storesFailed transformation
of Blockbuster
1.0
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Source: https://medium.com/@nvenkatraman/netflix-a-case-of-transformation-for-the-digital-future-4ef612c8d8b
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Innovation
Transformation Disruption
Video streaming with
deep insights on
preferences
Linear television to
non-linear TV apps
replacing channels
Production of shows
based on customer
preferences
2.0
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Big data gamble paid off.
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Banking 365 – Digital activation.
Overview
• Solution enabling customers to self-serve 365 registration and
activations through digital channels (IVR & SMS) thus removing
the need for customers to speak with an advisor and
complete the process
• Approx 800 calls per day are received from customers to
digitally activate
• Prior to implementation of self-serve journey all of these calls
were fielded by an Advisor
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Banking 365 – Digital activation.
Delivery
• Broken into two phases:
• Phase 1 – New to Bank Personal Current Account customers.
• Phase 2 – Back Book Personal Current Account customers and Pin Reset customers
• Phase 1 New to Bank PCA customers implemented in
February 2018
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Banking 365 – Digital activation.
Results
• 52% of customers are self-serving and digitally activating without the need to speak to an Advisor
• Customers can call and complete e2e Activation process in just
under 3 minutes. Reduced call wait times
• 89% Satisfaction from customers who complete the process with
no advisor support
Continuous Improvement
• Incorporate identified process improvements for inclusion in Phase
2 delivery
• Enable back book digitally active customers to self-serve to reset a
blocked digital Pin
• Additional contact reduction opportunity – circa 1k calls per week
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Learning,
advice &
approach.
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Log early wins to demonstrate value creation.
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Don’t stop measuring
Measuring ROI of digital transformation.
Understand your digital transformation objectives
Clearly define your cost centres
Take a wide view of measurement
Set realistic timescales and milestones
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Activate Engage Retain
AI-Powered
Conversations
1 month later
2 days later
3 weeks later
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If you’re waiting for a case study to be made in your industry, then
you’re already too late.
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Thank you.
Questions?