doing more with less in challenging economic times
DESCRIPTION
Retail focused webinar broadcast on October 25 covering how improved customer experience can be a differntiator in a tough economyTRANSCRIPT
Doing More with Less in Challenging Economic Times
Dr. Gary Edwards
Chief Customer Officer
October25, 2011
We believe that everyone deserves to love where they work, shop and dine.
Customer Relationship Optimization
©2011 Proprietary & Confidential – All rights reserved Page 2 - 11/9/2011
Why Am I Here?
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Does the
Experience Really Matter?
How’s the Economy?
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Things Aren’t Going Well…
Deliver on Your Brand Promise
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Three Ways to Stand Out
Happy Employees Make a Difference
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Engagement
can be Contagious…
Turn Shopping into an Experience
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An Escape Worth Waiting
For…
Shout it Out Loud
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Tell it to the World!
Don’t Believe Me?
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Use the chat button in the corner Let’s make this interactive
http://www.empathica.com/about-us/management-team/gary-edwards/
Customer Experience Really Does Matter
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Customer Experience Matters
Better Experience Helps the Bottom Line
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57% of customers purchase a product that was recommended
to them by a Sales Associate
Strong brand advocates
spend more 65%
http://www.empathica.com/consumer-insights/consumer-behavior-reports/
But…
…few are able to deliver a superior customer experience today…
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http://www.empathica.com/consumer-insights/
The Opportunity of a Changing Economy
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Tough Economic Conditions
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http://www.empathica.com/consumer-insights/
Let’s Make it… a Bigger Deal
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It’s the Experience
Differentiate with experience Build an Emotional connection with customers
Provide an escape from the bad news
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Delivering on Your Brand Promise
Three Pillars of a Brand Promise
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BRAND PROMISE
Deliver the best
Experience
Corporate Culture
Word of Mouth
The Path to Delivering
Customer Experience
Employee Engagement
Advocacy
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Employee Engagement
People Experience
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Customer Experience
EMPLOYEE ENGAGEMENT
Advocacy
A Greeting Card Store
• Greeting cards are a commodity
• “I can buy a card anywhere”
• An Experience that transcends a $7 purchase
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Engaged Employees Create Emotion
• Employees are engaged
• They have to be…
• Emotional product • Occasions all carry
emotional weight
• Employees who care
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Why Caring Matters
• Not just “Do you want fries with that?”
• Employees who care about customer needs
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76.52
95.21
120.04$379.54$430.71
$598.08
$0.00
$100.00
$200.00
$300.00
$400.00
$500.00
$600.00
60.00
70.00
80.00
90.00
100.00
110.00
120.00
130.00
140.00
Neither Agree Nor Disagree Agree Strongly Agree
Overall Satisfaction
Projected # of Visits per Year ($) Projected Yearly Spend
©2011 Proprietary & Confidential – All rights reserved
Basic Human Needs Haven’t Changed
An emotional connection to the brand is only possible when basic needs are satisfied
SELF-ACTUALIZATION
ESTEEM
SOCIAL
SAFETY
PHYSIOLOGICAL
I love this place
I feel important here
A place where I belong
I have the support I need
I am compensated for my work
Abraham Maslows Hierarchy of Needs
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Everyone is Slightly Different
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How to Keep Employees Engaged
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Our research consistently demonstrates the importance of:
• Belief in opportunities for personal and career growth Growth
• Positive relationships with coworkers and management Relationship
• There is a common belief in brand and tribal values Pride
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Customer Experience
Product Experience
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CUSTOMER EXPERIENCE
Employee Engagement
Advocacy
The Pharmacy Experience
• Differentiate with the product set
• Products can deliver a targeted experience
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Listen to Customer Needs
• Emotions are not always logical or linear
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I need milk, lipstick, photos and pain killers…
Building the Right Experience
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The Drivers of the Drivers
Experience Creates Perception
• The experience creates perception
• Use this to your advantage
• What is “Quality” ?
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Prescribe
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Communicate The Opportunity
• Show current position through evolution of stages
Define Success
• Share targets for graduation to the next stage
Prescribe Action
• Update performance vs. the benchmark
• Provide behavioral diagnostics • Incorporate best practice guidance
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Building Advocacy
Share the Experience
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Customer Experience
Employee Engagement
ADVOCACY
Discount Retailers
• Emotion doesn’t mean luxury
• Even discount retailers can drive great advocacy
• Focus on experience, and leverage advocates
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Customers Are Talking…
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“Found one item for me then when I asked where shower curtains are - she TOOK me
there and showed them to me.“
“Made sure my glassware was wrapped so that it wouldn't break. The cashier even put it in a cardboard box. She didn't have to go to
that trouble.”
…Everybody’s Listening
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Social Media Adoption
75% of Facebook users ‘like’ between 2 and 10 brands
Source: Mashable Business
Advocacy NOT Advertising
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Paid Advertising
13.5 X’s higher click rate than Facebook advertising 8.5 X’s higher click rate than Google/Yahoo advertising
Three Pillars of a Brand Promise
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BRAND PROMISE
Deliver the best
Experience
Corporate Culture
Word of Mouth
©2011 Proprietary & Confidential – All rights reserved Page 43 - 11/9/2011
We believe that everyone deserves to love where they work, shop and dine.
Customer Relationship Optimization
Download our Free Consumer Insights Study www.empathica.com/consumer-insights/
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Questions?