The Business Case for Customer Experience Investment

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The impact great customer service has on today’s organisations.

Profitability and efficiency are key organisational drivers. 98% of customers surveyed by Netcall confirmed that operational efficiency and cost savings are a priority.

Top brands succeed by intuitively aligning with customer needs and seamlessly integrating into their customers’ everyday lives*. We ask does investment into customer experience deliver?

See how strategic spending delivers increased profit, loyalty and team productivity.

INTRODUCTION

“Customer experience is the last source of sustainable differentiation and the new competitive battleground”

Tiffani Bova, Gartner Vice President and Distinguished Analyst

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*Interbrand

Six years into the age of the customer, consumers increasingly demand immediate, personalised and tailored experiences.

Organisations may be reluctant to invest in customer experience (CX) improvements. Perhaps you are asking:

• How is this significant to my contact centre?

• Is there a business case that justifies meeting this demand?

Companies that prioritise the customer experience generate 64% higher profits than their competitors.

As the face of your organisation you need your contact centre to be joined up, seamless in tailoring their customer response and able to resolve queries with successful processes first time, every time. The return on investment is tangible, and you will deliver real value to all stakeholders as you meet the challenge.

DO YOU KNOW YOUR CUSTOMER?

You need 9 first-time

shoppers to get the conversion of one repeat customer!

(Lee Resource Inc.)

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Companies that prioritise the

customer experience generate 60% higher

profits than their competitiors

(Gartner)

Brand loyalty is closely linked to a positive customer experience. Customers are inclined to spend more money with those companies that make it easier to do business with them.

Customers are:

• 19% more likely to recommend

• 20% more reluctant to switch to a competitor product

• 16% more likely to repurchase

Temkin calculate that these three factors will add between 26% and 14% directly to revenue.

CUSTOMERS BUY MORE

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Watermark Consulting’s ‘Customer Experience ROI Study 2015’ shows companies that methodically and consistently invest in improved customer experience grow and improve profitability.

Their market value is increased 8 times over slow moving companies.

Forrester predicts that ‘small thinking on customer experience will destroy financial results’. Information to place the agent in control, will eliminate wasted steps, shorten time to resolution and reduce customer effort.

PROMOTES GROWTH AND PROFITABILITY

Gartner confirm that

even a simple 5% increase in customer

retention can increase business profits

between 25% and 125%

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27%

1 2 3

45%54%

Price is not always directly linked to customer churn. Poor customer service often results in customers going elsewhere. And they are likely to shout about their experiences.

A CEI study shows that 86% of buyers will pay more for a better customer experience.

The reality is that only 1% of customers feel that suppliers consistently meet expectations.

CUSTOMERS PAY MORE

“After a positive experience, more than

85 percent of customers increased their value…

The ‘moment of truth’ in customer service”

(McKinsey)

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Source - Sweet Tooth Rewards

Likelihood of another purchase after 1,2,3 purchases

Your customer churn rate has a direct impact on your ability to grow your business.

More than 70% of customers will reduce their commitment to an organisation when a relationship spoils (Mckinsey) and 66% will leave due to poor service. Incredibly 85% of churn is preventable.

of churn could be saved if the issue is resolved at first point of contact.

AVOID SOURING THE RELATIONSHIP – YOU WILL LOSE CUSTOMERS

“If a customer likes you and continues to like you, they will do business with you. If they don’t, they won’t.”

(Paul Greenberg)

67%

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Dissatisfied customers not only have an impact on the bottom line but they can also have a draining impact on resources.

Unhappy customers complain, 50%* immediately reach for the telephone and 40% will ask to speak to a supervisor, which significantly impacts inbound demand and consumes time of skilled and expensive resources.

Save unnecessary escalations when you streamline your complaints process. Analyse repeated complaints and assess their cost to resolve.

Create an authority matrix to empower appropriately skilled agents to resolve at first contact.

Win increased loyalty as customers feel they are heard.

Really listen and identify bottlenecks in your processes. Use cross functional teams to remove common areas of complaint.

The results see happier customers and more motivated staff.

REDUCE COMPLAINT HANDLING COSTS

95% 66% 85% 11%of complaining

customers will do business with you again

if you resolve the complaint

instantly

of consumers who switched brands did so because of

poor service**

of customer churn due to poor service was preventable**

of customer churn could be prevented by simple company

outreach**

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*Netcall **Esteban Kolsky, CEO of thinkJar

A customer’s primary relationship with your organisation is likely to be through your contact centre.

There are strong profitability drivers for your business case to consistently improve and deliver a seamless end-to-end experience that will delight your customers while increasing both revenue and productivity.

Results are clear, Adobe says “the superior economic benefit of return and repeat purchasers is astounding”.

WHAT THIS MEANS TO YOU?

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82% of store visitors

make a follow up phone call

(Orange)

40% of customers using

self-service also contact the call centre

(Orange)

Get in touch

Enhance your focus on customer experience, move ahead of your competitors and

continue forward on your customer engagement journey increasing loyalty and

adding revenue to the bottom line.

Liberty, Netcall’s integrated customer experience platform, helps you manage

customer interactions using its advanced feature sets. Customer updates are then

delivered from Liberty and the customer’s enquiry is handled effectively and quickly, transforming customer engagement.

Find out more visit www.netcall.com/liberty

or get in touch and speak to a specialist on 0330 333 6100 and ask for

“transforming customer engagement”.

www.netcall.com©2016 Netcall Telecom Limited

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