best customers competition

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Image Area View Point In the era of internet and mobile devices, the digital consumer is increasingly savvy in using resources available at her fingertips, to get the best offer which meets her continuously evolving needs. The organization which catches this attention and engages continuously to give the best deal is the one most likely to get the top-of-the-mind recall and eventually the business. The overall customer experience built across channels creates either a frustrated customer or a true advocate and not only governs buying decisions but increasingly influences many more customers. Enterprises now realize that loyalty cannot be engendered by just rewarding points and inability to provide a superior and consistent experience across channels, eventually leads to loss of potential revenue, wallet share and ultimately loyalty. Hence, to retain the business of your best customers in light of fierce competition, you should get ready for a fundamental shift in the way you engage with its customers. Are you losing your best customers to your competition? www.infosys.com

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Page 1: Best Customers Competition

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In the era of internet and mobile devices, the digital consumer is increasingly savvy in using resources available at her fingertips, to get the best offer which meets her continuously evolving needs. The organization which catches this attention and engages continuously to give the best deal is the one most likely to get the top-of-the-mind recall and eventually the business.

The overall customer experience built across channels creates either a frustrated customer or a true advocate and not only governs buying decisions but increasingly influences many more customers. Enterprises now realize that loyalty cannot be engendered by just rewarding points and inability to provide a superior and consistent experience across channels, eventually leads to loss of potential revenue, wallet share and ultimately loyalty.

Hence, to retain the business of your best customers in light of fierce competition, you should get ready for a fundamental shift in the way you engage with its customers.

Are you losing your best customers to your competition?

www.infosys.com

Page 2: Best Customers Competition

© 2012 Infosys Limited, Bangalore, India. Infosys believes the information in this publication is accurate as of its publication date; such information is subject to change without notice. Infosys acknowledges the proprietary rights of the trademarks and product names of other companies mentioned in this document.

About Infosys

Many of the world's most successful organizations rely on Infosys to deliver measurable business value. Infosys provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow's enterprise.

For more information, contact [email protected] www.infosys.com

What do you do to get your Customer Experience (CX) strategy right?With the advent of new age media revolution (social media, mobile devices etc), the need to be accessible and seamless anytime, anywhere, anyhow has now become a basic hygiene need of digital consumers. Hence consistent experience across channels is a must and not anymore a nice-to-have option.

Need of the hour to enrich the next gen-customer experience –

• Toolsthatwoulddeliveranexperienceasclosetoafacetofaceinteractive experience

• Personalized online store, customized web pages, productrecommendations based on customer insights

• Live chat help to facilitate product purchase decision andquick access to customer reviews, social networks and price comparison tools, multiple payment channels, etc.

• Enablingcustomerstoeasilytraversefromanofflinetoonlinechannel without the need to repeatedly identify their contact information

All these factors ensure that the customer feels acknowledged or

recognized by the organization simulating a retail store experience.

What you need is what Infosys terms as 6C ApproachInfosys believes that customer experience management (CEM) is not just related to digital channels, but needs to encompass offline and real-world experiences, such as supporting a social cause as well.

Embarking on a CEM journey would therefore need:

1. Building a vision of amazing customer service by customer experience management program which rewards your best customers and creates advocates of your brand

2. Developing a compelling CX strategy to engage target customers through consistent content across channels

3. Building deep customer insight by continuous interaction regarding what the customer wants, which channels they use, and what influences them

4. Changing from a product centric to customer centric culture, thereby empowering customer facing employees

5. Building community through cross department collaboration, offering a role such as customer segment managers (CSM) who can help in synchronizing between product management, marketing, sales, contact center and IT

6. Mapping CX journeys and designing cross channel interactions which help create your CX success story.

How do you prepare for CX journey?Enabling great cross channel customer experiences is easier said than done, with siloed systems being one of the major obstacles. That’s where a credible partner with vast experience in implementing CRM, Customer Loyalty, Mobility and Social CRMsolutions across the vertical service industries, becomes the right choice in creating specific CEM solutions which leverage the Oracle CX platform. The partner needs to have a clear methodology which assesses the current state of CX and organization’s readiness to embark on the CEM journey, develop a transformational roadmap in line with your vision and enable cross channel experience journeys. CEM transformational execution needs to include:

1. Development of CX architectural framework

2. Creation of a CX maturity model

3. Transformational plan which includes integrating analytics, sales & marketing, MDM, contact centre, mobility and social CRM

4. Re-engineering of key business processes and building support infrastructure for enabling various customer touch-points

5. Monitoring and measuring the impact of CX transformation.

Build COMMUNITY

CROSS CHANNEL Engagement

CONSISTENT content

CustomerCONTINUOUS

Interaction

Customer-Centric CULTURE

COMPELLING Experience