Creating effective customer experience strategies
A new era of customer engagement
Creating an effective customer experience is about more than just ensuring your customers receive the products and services they desire in a timely and efficient manner. It's also about creating touchpoints with real people who can organically evangelize and grow your brand through their social media and offline interactions with friends and family.
The true value of customer experiences
Deloitte Customer Experience Consulting Services help companies understand and capture the value of effective customer experiences to gain competitive advantage and differentiate themselves from competitors.
Our Monitor Deloitte Strategy professionals work with C-suite executives, including but not limited to CEOs and CMOs, to design and execute customer experience strategies that align to a company's overall strategic objectives and deliver results that can be measured and improved upon. We do this by helping our clients answer key questions such as:
- What are the "moments that matter" both to our customer and to our business?
- How can we personalize our customers' experience based on their individual needs and their value to our business?
- How do we ensure that our Customer Experience (CX) investments are improving our customers' experience and our top and bottom lines?
The true value of your customers
Every business owner knows the importance of keeping their customers happy and satisfied, but very few truly understand the value that providing a positive shopping experience can have on their bottom line—the customer experience value. The numbers may surprise you:
- Research shows that customers are likely to mention a positive customer experience to an average of nine people, while they are likely to tell 16 people about negative experiences.1
- Conversely, customers who enjoy positive experiences are likely to spend 140 percent more than customers who report negative experiences.2
- Customers who enjoy positive experiences are likely to remain customers for five years longer than customers who had negative experiences.3
- Delivering positive customer experiences can reduce your cost to serve customers by up to 33 percent.4
A new era of customer engagement
Customer experience value (CXV) allows companies to recognize a customer's value at the point of contact and decide how to maximize that value through dynamic, personalized treatment to deliver the best experience possible and generate the maximum return on their efforts.
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CXV helps businesses identify their most important customers by predicting their future behavior and profitability.
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Using this approach, your business will:
- Effectively segment and target your most valuable customers and create data-driven, meaningful, and valuable experiences to reward and increase their loyalty
- Reward and invest in your most valuable customers based on their anticipated profitability
- Iteratively improve your customer experience strategies based on performance data
Why Deloitte?
We practice what we preach. We know your customers are as important to your success as our clients are to ours. We understand the importance of treating clients like the valuable resources they are and are uniquely positioned to leverage our years of hard-won knowledge and experience to help you create customer experience strategies that push your business to its full potential.
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Leveraging our ecosystem of alliances such as Adobe, Medallia, Oracle, and SAP, along with the depth and talent provided by experts from our own market-leading consulting services across strategy, analytics, digital, and human capital, we have the expertise to address your customer experience needs, and to help you leverage the learnings and benefits of CXV across all other aspects of your business.
1,2, “Customer Experience is the Future of Marketing,” Forbes, 2015.
3,4, “The Value of Customer Experience, Quantified,” Harvard Business Review, 2014.
The big idea …
When it comes to customer experiences and satisfaction, the devil is in the details—and the data. Our CXV solution can help you understand and capture your customers' potential value and show you how maximizing the "moments that matter" can pay big dividends for your business.
Effective customer experiences create value in the moments that matter most—and not just for the customer, but for the business, too. Customer experience value (CXV) allows companies to recognize a customer’s value at the point of customer contact and decide how to maximize that value through dynamic, personalized treatment to ensure maximum CX ROI.
