CUSTOMER EXPERIENCE - DRIVING THE START UP REVOLUTION!

Every start up today is trying to fill a customer experience gap in a product or its delvery!

 

 

Came across these points of major disruptions which have transformed sectors/companies.

 

·       Scanning did not kill photocopying….inconvenience of sending copies did

·       Digital cameras did not kill Kodak ….unwieldy & long “click to photo prints” cycle did

·       Uber & Ola did not kill the taxi business…limited access and fare control did

·       Apple did not kill the music industry…being forced to buy full length albums did

·       Amazon & the e-commerce sector did not kill retailers…poor customer service & customer experience did

·       AirBnb and travel convenience clones isn’t killing the hotel industry….limited availability and pricing options are.

·       Netfix, Prime online are not killing Movie theatre’s and movies – the inconvenience of seeing movies at movie theatres at fixed times and in one ( in a fixed 2 or 3 hour format) is impacting the sector.

·       Starbucks and coffee chains are not providing better coffee – but they are offering a unique customer experience (coffee + ambience + no pressure to order or leave + free wifi now)

 

 

TECHNOLOGY BY ITSELF IS NOT THE BIGGEST DISRUPTOR – NOT BEING CUSTOMER CENTRIC IS THE BIGGEST THREAT TO ANY BUSINESS!

 

So instead of such customer experience(CX) gap leading to a new startup, why can’t mature organizations leverage the very same approach of identifying customer experience (CX) gaps – and leveraging the insights to develop new innovative products/services, or upgrade their products/services?

 

Organizational strengths of an existing mid sized or  large organization, should logically help them   execute on the identified CX gap faster, leading to improved business results!

 

 Unfortunately, many organisations talk about it, but don’t adequately focus on it; just don’t do enough or despite having good intentions simply don’t know “how” to go about improving or delivering a good product experience or service i.e. don’t really know operationally how to consistently deliver a superior customer experience?” 

And so as consumers, we are often at receiving end of sub-optimal product experience!

So how do we identify these “ customer experience improvement ” or  “start up” ideas?

Hearing Customers: capturing customer feedback using the right approach, as well as mining service quality data/ analytics: are important tools for identifying these CX gaps & for enabling product improvements & CX enhancements, new product design and development, etc

Customer journey mapping (CJM) is a design thinking led methodology, which is rage globally & in our own view – as Customer experience experts- a great way to get going on this journey to identify some low hanging & quick to implement opportunity areas – i.e. “start up” like improvement areas.

Once some of this is implemented and quick results realised– then to go to the next level of evolution & sophistication we can leverage our 5Ps TICSI customer experience improvement - 1000 point framework https://www.ticsi.org/-  to further diagnose opportunity areas in the customer experience(CX) across the organization’s - product, distribution and delivery, product features, people practices, operational processes, measures & KPIs, etc.

 In other words by leveraging the right tools & best practices it is possible to  deliver not just good but a great & consistent customer experience on an end to end basis across all customer touch points- not when he just calls or reaches “sales” or  “customer service”

Many organizations shy away from digging  into customer complaints – where there are hidden, diamonds of diagnostic opportunity to improve products & processes… A structured “customer” focused institutionalized service quality or customer experience improvement framework is necessary for every organization and not just on the traditional product quality programs which are often focused on manufacturing end of the business.

And, buttoning down last mile connectivity and cross connecting siloes is as important. In many organizations’, each silo often does a great job, but owing to misses at the last mile or gaps at the inter- departmental “hand offs” or sometimes some departments don’t have a good appreciation of what is really very important for their customer – the end  customer gets needlessly mishandled or gets a sub-optimal customer experience.

In the Future:

·       Customisation & Customer centric options will increase – and organisations will reconfigure themselves to deliver customized solutions to their customers – both B2B & B2C…as the era of the standard product is likely to get over….even for traditional sectors like automobilies, which are metamorphosing to a adapt to a more demanding customer.

·       Organisational manaufacturing, distribution & retailing models will evolve/metamorphise completely.

·       Digital – the app will become the most ubiquitous channel of engagement between the organisation & its customers – while all channels will exist – the digital channel will be the King !  

 Food for thought? Interesting?  Questions ? want to share your views on the subject or just your unique experience in your start up or your organisation that you’d like to share with us …go ahead  - we are eager to hear from you and would love to hear your perspective…

CUSTOMER EXPERIENCE GAP = START UP or PRODUCT IMPROVEMENT OPPORTUNITY

CUSTOMER EXPERIENCE GAP = START UP or PRODUCT IMPROVEMENT OPPORTUNITY

If we evaluate ongoing startup revolution – most startups usually address a specific gap in the market or an unfulfilled customer need – in other short, a customer experience gap !

 

Question therefore worth reflecting on, is that instead of this gap leading to a new startup, why can’t mature organizations leverage the very same approach of identifying customer experience (CX) gaps – and leveraging these strategic & operational insights to develop new innovative products/services, or upgrade their products/services? Customer journey mapping (CJM) is one such technique to get going ….. learn how you can transform your growth & leverage this awesome oppertunity to tap & improve end customer experience ….and your growth…

TRANSFORM YOUR PRODUCT, ORGANISATION STRATEGY & CUSTOMER EXPERIENCE – CUSTOMER JOURNEY MAPPING (CJM)

TRANSFORM YOUR PRODUCT, ORGANISATION STRATEGY & CUSTOMER EXPERIENCE – CUSTOMER JOURNEY MAPPING (CJM)

iN TODAY’S FAST CHANGING TIMES - HOW SHOULD ORGANISATION’S TRANSFORM PRODUCT, ORGANISATION STRATEGY & CUSTOMER EXPERIENCE – BY CUSTOMER JOURNEY MAPPING (CJM)…..

THE POWER OF CUSTOMER JOURNEY MAPPING

THE POWER OF CUSTOMER JOURNEY MAPPING

Everything is changing - there’s lots that is on and it seems that nothing is the same anymore.

The customer is in control today - expressive, demanding & clears about his/her choices, preferences, expectations, is very specific about the products and services he/she wants. The era of customer experience & customer engagement is here -and organisations that our realising this and integrating this into their strategy & operations are benefitting, while organisations still operating in the traditional model of “let’s make a good product/service” and sell are beginning to lag behind others.

customer journey mapping is a powerful, fast & easy to identify opportunities methodology.  

The question is - which view is more important, the company’s view of the lens through which the customer is seeing - which customer journey mapping reveals? read more to understand this some more...

LIVING UPTO THE SALES PROMISE - THE CUSTOMER EXPERIENCE (CX) MANAGEMENT PARADIGM

LIVING UPTO THE SALES PROMISE - THE CUSTOMER EXPERIENCE (CX) MANAGEMENT PARADIGM

organisations living up to the brand-sales promise are rare.

organisations in the forefront lead on delivering consistently on the sales & brand promise, and thereby enjoy many important benefits. They become preferred suppliers and boost customer loyalty/retention. They drive one-call/contact resolution in their contact centres and streamlining their prospect-supply- service chains. They are seeing early warning signs of issues, so they can improve products & change operational strategies and quicker redressals, often on the fly. But most of all, they are seeing how customers may have received an inconsistent experience in the past and understanding how changes in operations, process, empowerment, metrics, culture, and technology can rapidly turn red flags into revenue and profitability gains.

read to learn the "how" and related aspects of this important subject...

INNOVATION & CUSTOMER EXPERIENCE (CX) - any connection?

INNOVATION & CUSTOMER EXPERIENCE (CX) - any connection?

innovation is critical for organisations to survive & thrive today - given the 4th industrial revolution that is on. And so is Customer experience management - delivering a smooth & friction less customer experience(CX).   Soliciting, obtaining mapping customer feedback is criticalfor improving CX & Innovation. 

CREATE AN EFFORTLESS EXPERIENCE FOR THE CUSTOMERS

CREATE AN EFFORTLESS EXPERIENCE FOR THE CUSTOMERS

Providing an effortless experience for customers might seem easier than ever—after all, customers enjoy a wealth of service channels that previous generations could only dream of. Self-service, email, live chat, social media—with so many options for assistance, customers simply need to choose how they want to get help, right? Well, not exactly. Here are a few keep-in-minds for you.

MORE TURBULENCE IN RETAIL - A CUSTOMER EXPERIENCE (CX) OPPORTUNITY

MORE TURBULENCE IN RETAIL - A CUSTOMER EXPERIENCE (CX) OPPORTUNITY

is brick and mortar RETAIL on decline? Is online RETAIL booming?? or is RETAIL changing again ? is there an opportunity in this sector(like most others to improve customer experience)?

We’re often amazed to see how few organisations actually do customer journey mapping and/or objectively measure & map customer satisfaction? The number of organisations whose websites carry wrong phone numbers /email addresses for customers to call - also seems be ubiquitous. And while they do bench mark themselves (with peers), on traditional metrics like revenues, sales & market share, profitability, shouldn’t they first map the customer journeys’ & measure, benchmark customer / user experience(CX) delivered - and on an end to end basis, as seen from the customer’s eyes?

END-TO-END OPERATIONS MANAGEMENT- SMOOTH CUSTOMER EXPERIENCE (CX)

END-TO-END OPERATIONS MANAGEMENT- SMOOTH CUSTOMER EXPERIENCE (CX)

managing customer experience is not easy - requires an end to end, from the eyes of  customer approach & operating discipline, to consistently deliver a smooth CX, with interventions often needed across operating structure, processes, measures & KPIs, etc - and leveraging design thinking, customer journey mapping, mystery shopping &  feedback as  a strategic tool to drive continuous improvement in CX. 

Customer journey mapping – why?

Customer journey mapping – why?

Customer journey mapping has taken businesses by storm.

Given the onset of the 4th industrial revolution, with rapid change & evolving business and operating models, customer journey mapping is one of the latest management practices and an effective, agile tool for customer experience management & improvement - for organisations of any size(start ups to the largest)- as it helps to uncover oppertunity areas from the persoective of the customer/user.

Customer Satisfaction through Customer Feedback – B2B Surveys

Customer Satisfaction through Customer Feedback – B2B Surveys

 

Worldwide, most valuable organizations working in different B2B sectors want to enhance customer satisfaction, loyalty and retention – the ticket to sustenance & growth. Since this is easier said than done, question is how can we measure & manage this systemically.

For starters, it’s intuitive to surmise that customer experience across all customer touch points needs to be managed and that clients may want to give feedback, which needs to be heard, captured accurately and when necessary addressed.  

Regular measurement of satisfaction levels by B2B surveys is a specialized activity and  should be done by experts &  independently (as research indicates thatB2B clients often open up and give more candid feedback, if the surveys are administered independent of the organisation, albeit on behalf of the organisation).

Centers of Excellence - leading the way forward for ITES & BPO sector

Centers of Excellence - leading the way forward for ITES & BPO sector

Centers of Excellence

There is a lot of talk around the creating Centers of Excellence (COE) in the business circles today. The concept of Centers of Excellence has become very popular especially in the technology driven ITES & BPO sector. With emergence of SMB players in this market, the industry leaders have started positioning themselves as Domain Experts & Industry Leaders with developing Centers of Excellence in various domains/verticals/horizontals.

 

NEED TO COME OUT OF TIME WRAP. IT & BPO: SMB providers of ITES services

NEED TO COME OUT OF TIME WRAP.                          IT & BPO:  SMB providers of ITES services

SMB players in the ITES sector are operating as if nothing has changed, when the world of IT & BPO has changed radically and continues to evolve - requiring them to become an integrated "as a service" companies, which are narrow domain specialist service providers - rather than the traditional generalist " we can do what you tell us to do" time and material  traditional players. Lots need to be done  by the sector to stay relevant & grow. Learn how.

Perspectives on Risk & Compliance management.

Perspectives on Risk & Compliance management - important but difficult to implement paradigm - for organisations today. 

WHY ?

Why developing Risk & Compliance(R&C) Management Governance?

Compliance and Risk Management is often misunderstood and sometimes misapplied, but is vital to any organisation.

- It is central, if applied properly, to any organisation’s viability, direction, effectiveness- and is very important for managing an organisation’s growth and scalability.

- Every organisation should strive to build a compliant organisation not only for traditional reasons like avoiding any criminal prosecutions by regulators resulting in defamation of the company, but also for attracting & retaining clients.

Having an independent Risk & Compliance Management function is critical from many aspects, particularly when dealing with industry sectors like banking, insurance, telecom, where the regulatory implications/penalties in the event of any errors are significant. Also consumer activation is growing and consumer protection in countries like US/International markets is enforced far more vigorously than in some of the developing countries - but is changing fast – and so a stronger compliance and risk mitigation framework is important for an organisation's growth. Over time, the investment pays back, by lower operating losses, penalties and possibility of obtaining higher pricing in the market.

Having a strong R&C process will also make it easier for an organisation to get certifications from external auditors. 

Easier said than done !

 SO WHAT NEEDS TO BE TYPICALLY DONE?

-One key step will be for TBSS Risk and compliance unit to develop and generate a comprehensive risk mitigation and compliance checklist at an organisation as for each operating unit/division within the organisation, for all units to check themselves on the same. 

The organisation should develop a comprehensive and exhaustive checklist of risk & compliance management in sync with the industry, sector geography, regulatory environment and the strategic + operational objectives of the organisation. Once developed the organisation to strive to use the SAME Risk & Compliance assessment checklist across all its operating units – to ensure all units are being measured on the same/similar parameters on all aspects of risk mitigation and compliance adherence the checklist however can evolve based on root cause analysis on specific incidents and feedback from all stakeholders, including employees, customers, shareholders and regulators - and should be viewed as a living and evolving checklist. A typical risk and compliance management cycle is elucidated above.

Hexagon Consulting’s Strengths as your consulting & professional services partner

Our consultants based at Delhi in India as, have deep understanding of risk & compliance management having worked both in India and most markets around the world including Philippines, Mexico, US, Europe, etc. We have considerable experience of working with clients both in India and overseas and developing risk & compliance managemen frameworks like Risk & Compliance self-assessment, organisational structure & SOPs  to enable implementation and institutionalising a culture of compliance and risk mitigation in the organisation.

Also we have the capability to do risk & compliance management audits & due-diligence to identify organisational gaps in this important area. Specifically in the Banking & financial services space we are currently working in the KYC & AML space - in partnership with an affiliate firm of KYC-AML SMEs Bryant & Associates, based at Hayville, US.