understanding the customer experience ecosystem to succeed in the age of the customer
TRANSCRIPT
![Page 1: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/1.jpg)
© 2015 Denodo
Craig LeClaire VP, Principal Analyst
Megan BurnsVP, Principal Analyst
Cory Munchbach Analyst
Holger Kisker, Ph.D.VP and Research Director
Session 1CIO’s Must Enable Business Agility via Modern Data Management in the Age of the Customer
Session 2 Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer
Session 3 Build a Contextual Marketing Engine and Fuel it with Data
Session 4 Business Agility Must Be Based on a New Flexible and Agile Data Approach
Data Virtualization for Business Intelligence andBusiness Agility in the Age of the Customer
Four sessions providing insights and best practices for the Age of the Customer
WEBINAR SERIES featuring FORRESTER RESEARCH
![Page 2: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/2.jpg)
© 2015 Denodo
Data Virtualization for Business Intelligence and Business Agility in the Age of the Customer
Suresh Chandrasekaran
Senior VP, Denodo
![Page 3: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/3.jpg)
© 2015 Denodo
Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer
Megan Burns
Vice President,
Principal Analyst
SESSION 2
![Page 4: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/4.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 4
Making Leaders Successful
Every Day
![Page 5: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/5.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 5
Understanding the Customer
Experience Ecosystem to Succeed
in the Age of the Customer
Megan Burns, Vice President and Principal Analyst
Forrester Research Inc.
![Page 6: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/6.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 6
Agenda
› Why is customer experience important?
› What type of an experience improves customer loyalty?
› What do companies need to do to design, implement, and manage customer experiences?
![Page 7: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/7.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 7
Agenda
› Why is customer experience important?
› What type of an experience improves customer loyalty?
› What do companies need to do to design, implement, and manage customer experiences?
![Page 8: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/8.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 88
Customer Experience is…
How customers perceive
their interactions with a
company
![Page 9: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/9.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 9
![Page 10: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/10.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 10
CX drives three types of loyalty
![Page 11: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/11.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 11
A 20-year business
cycle in which the most
successful enterprises
will reinvent themselves
to systematically
understand and serve
increasingly powerful
customers.
The Age of the Customer
![Page 12: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/12.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 12
The Age of the Customer Power Flip
![Page 13: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/13.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 13
The Age of the Customer Power Flip
![Page 14: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/14.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 14
Firms are actively trying to improve CX
![Page 15: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/15.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 15
Base: 112 large North American brands scored in Forrester’s Customer Experience Index, 2007
Source: North American Technographics Customer Experience Online Survey, Q3 2007 (US)
Customer Experience Index Scores, 2007
12%
23%
40%
25%
Very Poor0 to 54
Poor55 to 64
Okay65 to 74
Good75 to 84
85+Excellent
![Page 16: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/16.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 16
Base: 112 large North American brands scored in Forrester’s Customer Experience Index, 2007
Source: North American Technographics Customer Experience Online Survey, Q3 2007 (US)
Customer Experience Index Scores, 2014
1%
10%
42%
37%
11%
Very Poor0 to 54
Poor55 to 64
Okay65 to 74
Good75 to 84
85+Excellent
![Page 17: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/17.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 17
Improving CX quality boosts top line growth
Wireless service providers $1.6 billion
Airlines $1.4 billion
Credit card providers $825 million
Hotels $729 million
Retailers $572 million
Health insurance plans $494 million
Insurance providers $328 million
Car rental providers $320 million
Banks $161 million
TV service providers $138 million
Consumer electronics manufacturers $102 million
Investment firms $85 million
Internet service providers $55 million
Total annual impact
![Page 18: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/18.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 18
Higher CXi scores boosted business metrics
AT&T U-verse • Revenue up by nearly 28% year over year
• More than 900,000 subscribers added
Citibank • Double-digit drop in customer attrition
• Increase in the average number of products
per household
Cablevision • Lowest levels of voluntary attrition in years
• Double digit declines in call volume
• 26% fewer repair visits to customer homes
![Page 19: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/19.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 19
Agenda
› Why is customer experience important?
› What type of an experience improves customer loyalty?
› What do companies need to do to design, implement, and manage customer experiences?
![Page 20: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/20.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 20
Three core dimensions of CX quality
Ease
Emotion
Customers get value from
the experience.
Customers get that value
without difficulty.
Customers feel good
about the experience.
Effectiveness
![Page 21: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/21.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 21
Loyalty dynamics vary by industry
Effectiveness
Ease
Emotion Effectiveness
Ease
Emotion
![Page 22: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/22.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 22
Emotion dominates in 11 of 17 industries
Airline
Automotive
Retail
Banking
Government
Car Rental
Insurance
Credit Cards
Internet Service
Investment Firms
Parcel Shipping
![Page 23: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/23.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 23
“People will forget what you said.
They’ll forget what you did.
But they will never forget how you made them feel.”
![Page 24: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/24.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 24
© Copyright phillip andrew carl taylor and licensed for reuse under this Creative Commons Licence
Strengthen
Erode
![Page 25: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/25.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 25
What drives customer
experience and
loyalty?
![Page 26: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/26.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 26
Universal drivers of CX and loyalty
1. Make customers feel valued
2. Resolve customer problems or issues quickly
3. Talk to customers in plain language
![Page 27: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/27.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 27
Agenda
› Why is customer experience important?
› What type of an experience improves customer loyalty?
› What do companies need to do to design, implement, and manage customer experiences?
![Page 28: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/28.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 28
discipline
![Page 29: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/29.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 29
The extent to which an organization routinely performs the practices required to design, implement, and manage customer experience in a disciplined way.
Customer Experience Maturity
![Page 30: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/30.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 30
Consistently deliver and improve that experience.
Define the right experience.
The Six Disciplines of CX Maturity
StrategyCustomer
UnderstandingDesign
Measurement Governance Culture
![Page 31: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/31.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 31
Mature customer experience companies
› Value qualitative and quantitative insights
![Page 32: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/32.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 32
Customer
UnderstandingMeasurement
Call transcripts, emails,
social media posts, etc.
Customer interviews &
field observations
Employee input
Operations & process
data, metrics
Behavioral analytics e.g.
web, call center, mobile
Financial data
Goal: Understand who customers are and what they
want from their interactions with the company
Goal: Quantify CX quality and it’s relationship to
business health to guide management decisions.
Inherently qualitative Inherently quantitative
Structured questionsSurvey responses
VoC
Programs
![Page 33: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/33.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 33
Image: Wikipedia
![Page 34: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/34.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 34
February 2014 “You Are Here: Location Analytics And The Rebirth Of Customer Experience”
Location Data Drives Real-Time Customer Understanding And Modeling
![Page 35: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/35.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 35
Photo: Jacom Stephens
![Page 36: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/36.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 3636
Mature customer experience companies
› Value qualitative and quantitative insights
› Treat customer understanding as an ongoing
activity, not a project
![Page 37: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/37.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 37
![Page 38: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/38.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 38
Released
in 2007Released
in 2010
![Page 39: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/39.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 39
June 2014 “Business Agility Starts With Your People”
The Age Of The Customer Ushers In New, Digitally Based Events
![Page 40: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/40.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 40
Mature customer experience companies
› Value qualitative and quantitative insights
› Treat customer understanding as an ongoing
activity, not a project
› Democratize data across the customer
experience ecosystem
![Page 41: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/41.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 41
Image: Wikimedia
![Page 42: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/42.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 42
The web of relations among all aspects of a company — including its customers, employees, partners, and operating environment — that determine the quality of the customer experience.
Customer Experience Ecosystem
![Page 43: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/43.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 43© 2014 Forrester Research, Inc. Reproduction Prohibited
May 2014 “Want A Healthy Customer Experience Ecosystem? Free Your Workers”
Your Employees Need Three Freedoms To Successfully Support Your Customers
![Page 44: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/44.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 44
November 2013 “The CIO Mandate: Engaging Customers With Business Technology”
Systems Of Engagement Provide Your Business Boundary
![Page 45: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/45.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 45
Summary
› Customer experience is critical to loyalty
› Leaders are continually raising the bar
› Getting CX right can mean millions in revenue
› Success hinges on how well you make customers feel
valued, solve their issues quickly, and talk to them in
language they can understand
› Need a constant stream of quantitative and qualitative
data to maintain an accurate customer understanding
› Everyone in the ecosystem needs to know customers
equally well regardless of how far removed they seem
![Page 46: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/46.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 46
Thank you
Megan Burns
+1 617.613.6294
![Page 47: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/47.jpg)
© 2015 Denodo
Age of Customer – Power shift
CX drives loyalty, sustained competitive advantage
Market dimensions show biggest gaps in age of customer
Need for Modern Customer Information Platform
Organization & Process Dimensions
Forrester Take Aways Denodo Enablers
Fast data access; Information-as-a-service; Agile integration
Organize canonical business entities used across dimensions
Single View of Customer; Data distribution across channels
Structured & unstructured; Internal & external; Real-time; Self-Service; Less replicated; Virtual
Unified data abstraction layer democratizes access to single source of truth across and beyond organization boundaries
Customer Experience (CX) – How Denodo drives it
![Page 48: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/48.jpg)
© 2015 Denodo
Customer Experience (CX) – R Cable Example Multi-channel Single Customer View
![Page 49: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/49.jpg)
© 2015 Denodo
Customer Experience (CX) – Drives R Success and Growth
![Page 50: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/50.jpg)
© 2015 Denodo
Customer Experience (CX) – Data Virtualization Enabled
![Page 51: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/51.jpg)
© 2015 Denodo
Q&A
![Page 52: Understanding the Customer Experience Ecosystem to Succeed in the Age of the Customer](https://reader031.vdocument.in/reader031/viewer/2022030309/58f170991a28ab93058b45d5/html5/thumbnails/52.jpg)
© 2015 Denodo
Cory Munchbach Analyst
Session 3 Build a Contextual Marketing Engine and Fuel it with Data
Thank you!
NEXT SESSION
Data Virtualization for Business Intelligence and Business Agility in the Age of the Customer
Four sessions providing insights and best practices for the Age of the Customer
WEBINAR SERIES featuring FORRESTER RESEARCH