Leading companies are aware that great products are necessary but not sufficient for excellent customer experience. Customer experience is the new front-line in the competition to win over today’s customers. In this digital age, satisfied customers soon become powerful social advocates for your company and business. The key is to meet your customers’ expectations, give them treasured services, and finally delight them in ways that keep them loyal.
We follow a holistic and straightforward approach to identify what matters most to your customers by bringing the ‘voice of the customer’ into the heart of your decision making and support you in transforming your customer journeys to deliver fascinating and exceptional experiences. Based on our expertise and tools, we develop a strategic customer experience roadmap that will streamline your processes, eliminate unnecessary costs, and generate incremental revenue. These efforts will unfold your potential to make happy customers, employees, and shareholders — a triple set of results that you can measure and improve throughout your continuous path of customer-centricity.
Satisfying customers is a direct path to profitable growth without unnecessarily driving up sales or services costs, especially in an economic environment that gets challenging with each passing day.
Your benefits of making customers’ priorities your priorities:
- Achieve operational savings due to improved customer retention rates and lower customer acquisition/servicing costs
- Generate more value over a customer’s lifetime from a growing, loyal, profitable customer base
- Understand the needs of different customers (personas) and serve them accordingly
- Deliver a consistent, branded experience across all channels
- Increase share of wallet by cross-selling your entire suite of products or services
- Enhance your competitive advantage and increase your market share
- Measure the value proposition for the customer and its financial effect on the organization
- Higher employee productivity, with more time to focus on value-creating work
- So you can realize ROI, and make a measurable impact.
A disciplined, results-oriented approach to the strategy and execution of a customer-centricity initiative helps organizations harvest the fruits of their investments in a sustainable, measurable way.
Provektus has designed a framework to help companies achieve the value of their customer experience strategies. Our approach for realizing customer-centricity benefits provides a proven methodology to develop and monitor customer experience return on investment throughout its evolution. Our approach helps a company establish its own customer experience strategy, activate it for use in day-to-day customer journeys and interactions, and precisely measure the results in terms of customer loyalty and business value. The framework is also designed to help organizations understand and prioritize initiatives so that they can achieve continuous improvement in their service strategies.
Main stages of our customer experience framework that can be customized upon your needs:
- Analyze Current CX State:
Realizing the value of any customer experience initiative must begin by understanding customers’ needs and preferences because this insight is integral to formulating the overall service strategy and execution plan. To deconstruct the entire current journey from your customer’s point of view, we first delve into your customers’ needs, preferences, and experience. Next, we perform a comprehensive data and insights-driven analysis of your strategic priorities, business targets, brand image, touchpoints, channels, organization, processes, and technological maturity level to understand your current capabilities. Finally, a market and competitive analysis will be performed to evaluate customer-centricity benchmarks.
- Design Future CX State:
Based on the findings and insights derived from the current state analysis, we will design the future customer experience in joint workshops with your stakeholders. Next, detailed omnichannel customer journey maps per persona will be developed in line with the new customer experience design – including all stages, touchpoints, actions, thoughts, emotions, critical moments, and opportunities.
- Perform GAP-Analysis and Define Improvement Initiatives:
In this phase, the differences between current and future customer experiences will be evaluated by considering the criteria of organization/human resources, information technology, value chain/processes, and business partners/service providers. The differences revealed will be evaluated in light of strategic goals and environmental factors to identify improvement projects and quick-wins.
- Develop Customer Experience Roadmap:
Quantifying the tangible impact of improvement initiatives is an essential step before developing the final customer experience roadmap. First, all identified improvement projects will be scored and prioritized by benefit (customer and business impact) and effort (ease and speed of implementation) criteria. Next, we will conduct a feasibility analysis by calculating the return on investment for the projects prioritized. Finally, projects with explicit feasibility will be integrated into the customer experience roadmap.
Industry-leading organizations make customers’ priorities their priorities. When managing performance, they continually measure, monitor, and improve what matters most to customers.
Some proven examples of our holistic approach for improving customer experience:
- A leading Turkish retail bank had many fragmented business service strategies and delivered an inconsistent customer experience to affluent clients. The bank wanted to simplify, improve, and provide a customer experience more consistent with its brand. In the course of the project, we identified valuable customer personas for which we developed an enterprise-wide service strategy. In this way, the bank could distinctively position its services in a highly competitive market. This segment-specific service strategy helped the bank to identify and move critical economic levers, such as acquiring new business, increasing cross-sell/up-sell, and reducing customer attrition.
- A leading Turkish bank wanted to improve its customer experience and, ultimately, loyalty. To do this, we developed a new omnichannel customer service strategy and a road map of initiatives to improve the customer experience at each critical customer interaction. We identified 12 customer experience initiatives that increased the NPS and C-SAT scores by 20-30% as well as realized multi-million € benefits
- European car manufacturers aimed to understand and improve their omnichannel capabilities at customer touchpoints. Against this background, we examined omnichannel competencies and revealed improvement areas within the scope of customer needs and feedback. Furthermore, it was crucial to assess OEM’s brand images to unveil reasons for brand preference. As a result, we determined the estimated feasibility of improvement projects and prepared action plans that led to multi-million € savings and benefits.
- A major auto financing company wanted to derive additional revenue from customers who returned to refinance at the end of their auto loans or leases. The financing company embarked on a voice-of-the-customer survey to verify that all critical customer interactions were understandable from both the customers’ and the auto dealers’ points of view. Using our framework for realizing customer-centricity benefits, we also developed a return on investment model that showed how customer loyalty improvements could drive more significant renewal of loans.
- For a national mobile operator that set out to understand its customers better so as to increase marketing and sales efficiency, we developed an automated marketing solution with clear metrics focused on sales, marketing costs, and other key operational measures. As a result, the company increased sales generated by its call center and reduced customer churn.
Let us help you improve your customer journey using the rich insights we have gained from numerous projects in various industries.