marketing’s role in bx, cx & ex · 2020. 1. 30. · all content and graphics ©substance151,...

IDA CHEINMAN, SUBSTANCE151@idacheinman @substance151

CONNECTING THE DOTS:

MARKETING’S ROLE IN BX, CX & EX

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EXPERIENCE-LED COMPANIES

Have 1.6x higher brand awareness, 1.5x higher employee satisfaction, 1.7x higher customer retention and 1.9x ROI. Source: Forrester


EXPERIENCE = BX + CX + EX


BUSINESS BRANDBRAND


The brands that stand out and thrive create a shared purpose with customers and employees.

NICOLE RENNIEFounder, FORWARD storystudio

We are defined by what we stand for, what we believe, and why we do what we do.

STANTEC – BRAND PURPOSE


We make a difference in the world by creating communi-ties. This is our purpose.

STANTEC – BRAND PURPOSE


We empower the ambitious to become the accomplished.

BOHLER – BRAND PURPOSE


Leading from a place of purpose creates unrivaled results for everyone we serve.ADAM VOLANTHPresident & CEO, Bohler Engineering


BRAND VALUES

What your brand stands for; guiding principles behind your corporate behaviors, decisions and actions


CX= RELEVANCE


Customer-first marketing is a critical differentiator between satisfied and not satisfied customer.

Source: MarketingSherpa Customer Satisfaction Research Study


CUSTOMER EXPERIENCE (CX) JOURNEY

CONSIDERATION

RELATIONSHIP

RESEARCH

AWARENESS

DECISION

ONBOARDING

RETENTION

ENGAGEMENT

EXPERIENCEBRAND

1. PROSPECT 2. CLIENT

3. ADVOCATEADVOCACY/REFERRAL


MARKETING RESEARCH ACROSS THE CX JOURNEY

+Develop meaningful customer personas

+Research needs, wants and expectations for all stages

+ Identify questions, objections, “moments of truth”


Analytics show us what is happening; qualitative research aims to determine the why.

MELISSA EGGLESTON Director of UX, Teamworks


FROM INSIGHT TO ACTION

+Create value-based message and content

+Put effort into high-impact touchpoints

+Deliver branded, contextually relevant experience


CUSTOMER TOUCHPOINT AUDIT

CX JOURNEY PHASES AWARENESS CONSIDERATION ETC.

Touchpoints Website/Blog

Events/Tradeshows

Email/Social Media Marketing

PR/Influencers

Industry Publications

Referrals

Search

Website/Blog

Whitepapers/Case Studies

Email

LinkedIn Groups/ Online Forums

In-Person Meetings

References


ACTION PLAN FOR EACH CX JOURNEY PHASE

PHASE: RETENTION

OWNER CUSTOMER NEEDS

ACTIONS CUSTOMER FEELS

Whitepapers Marketing Industry trends, best practices

One per quarter Confident, in the know, supported

Blog Marketing Tips, trends, Q&A Two per month Informed, primed to succeed

PM PM Communications, responsiveness

Weekly status reports, updates

Valued, taken care of, supported

Invoicing Finance Transparency, accuracy, details

Timely, detailed invoices

Trust

Etc. Department Customer Needs What/when Desired feeling


CX + EX

CX will Fail Without Engaged Employees. Source: Customer Think


EXPERIENCE= ENGAGEMENT


CULTURE

Customers can’t love a company that employees hate.


ENGAGEMENT

EMPLOYEE EXPERIENCE (EX) JOURNEY

EVALUATION

INTEREST

HIRE

ONBOARDING

RETENTION

CULTUREBRAND

1. CANDIDATE 2. EMPLOYEE

3. AMBASSADOR


CANDIDATE STAGE

+Firm and job search

+Application process

+ Interview process


NEW HIRE STAGE

+Extending an offer

+Contract negotiation

+Onboarding


EMPLOYEE STAGE

+Policies and procedures

+Growth and promotion

+Values-based rewards system


AMBASSADOR STAGE

+ Internal communications

+Living the brand

+Brand education and engagement

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BX: BRAND EXPERIENCE

DIFFERENTIATION, PREFERENCE, PRICE PREMIUM, BRAND EQUITY

CX: CUSTOMER EXPERIENCE

CUSTOMER LIFETIME VALUE, PREFERENCE, ADVOCACY, LOYALTY

EX: EMPLOYEE EXPERIENCE

CULTURE, PERFORMANCE, BRAND ENGAGEMENT, ADVOCACY, LOYALTY

SUCCESS METRICS


BX AWARENESS, RECALL, DIFFERENTIATION PRICE PREMIUM, BRAND EQUITY

+Recognition

+Recall

+Differentiation

+Relevance

+Community size/reach

+Engagement

+Esteem/perceived quality

+Purchase preference


BX HOW TO MEASURE

+Market research

+Analytics

+Customer observations and feedback

+Perception surveys

+One-on-one interviews


CX LIFETIME VALUE, PREFERENCE, LOYALTY, ADVOCACY

+Repeat business/loyalty

+Advocacy/referrals

+Customer satisfaction

+Net Promoter Score® (NPS)


CX NET PROMOTER SCORE® (NPS)

How likely are you to recommend us to a colleague?

DETRACTORS

0 1 2 3 4 5 6 7 8 9 10

NPS = % OF PROMOTERS (9–10) – % OF DETRACTORS (0–6)

PROMOTERSPASSIVES


EX CULTURE, JOB PERFORMANCE, BR AND ENGAGEMENT, ADVOCACY, LOYALTY

+Do employees understand the brand?

+Are they aligned with the brand?

+What is the level of employee brand engagement and brand ambassadorship?


EX WHAT TO MEASURE

+Employees’ ability to accurately articulate the brand

+Consistent values-based, on-brand behaviors

+Active participation in content creation/social sharing

+New hire referrals

+Customer satisfaction/complaints


BX: BRAND EXPERIENCE

BRAND DEVELOPMENT, ACTIVATION, MANAGEMENT

CX: CUSTOMER EXPERIENCE PROSPECT > CLIENT > ADVOCATE

EX: EMPLOYEE EXPERIENCE

EXPERIENCE JOURNEY, CULTURE, BRAND ENGAGEMENT

TODAY’S REALITY


MARKETING

BX

EX

CX


WHY SHOULD YOU WANT TO TAKE CHARGE? REASON 1

68% of leaders say their company is increasingly competing on the basis of CX.Source: Salesforce Research


REASON 2

90% of CX decision makers agree that the CMO should be the advocate for their customers.Source: Accenture


REASON 3

CX Management is the primary business strategy for creating loyal customer relationships.Source: Customer Think


REASON 4

Loyal repeat customers spend 67% more than new customers.Source: Customer Think


REASON 5

76% of executives say that improving CX and EX is a high or critical priority...


... And many of those companies have created a C-level position to oversee it. Source: Forrester


Marketing Is Best Positioned to Take Charge.

©Substance151, Benefit LLC. Do not use or reproduce without permission. | Source: B2B Marketing, “B2B customer experience management: A marketer’s guide” 48

KEY TRAITS OF AN EXPERIENCE CHAMPION

+A great communicator, negotiator and team player

+Able to develop processes

+Understands customer data

+Has a broad understanding of the company’s goals

+A leader and a change agent


Consider adding the “X” and creating a CMXO. It’s a step in the right direction.

SHEP HYKENCustomer Experience Expert‎


QUESTIONS?IDA CHEINMAN, PRINCIPAL/CREATIVE DIRECTOR

[email protected]

marketing’s role in bx, cx & ex · 2020. 1. 30. · all content and graphics ©substance151,...

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