ThreatsThe cost of doing nothing or not implementing an efficient customer experience program, while failing to deliver a consistent and differentiated customer experience, results in daily erosion of customer purchases, continued discounting and churn.
CSPs are having a hard time at the moment. Competition is constraining revenue, while the need for capital investment remains high as consumers continue to demand ever greater amounts of faster, high-quality bandwidth. Underestimating investments in customer experience related initiatives is crucial.
OpportunitiesCustomer Experience Management is not new, the term CEM was coined by by Bernd Schmitt in 2003 to indicate a five-step CEM process of strategically managing a customer’s entire experience with a product or company.
In first CEM programs the demand was primarily about implementing customer feedback survey systems. It was about giving the customer a voice, allowing them to be heard and using the data to drive improvements in customer service.
Nowdays, the technological advances in network data availability, different types of analytics, crowdsourcing solutions and the explosion of the social media space, where customers express unsolicitedly their opinion offers organisations new unprecedented opportunities to gain understanding of the experience that their customers live with them.
So the question is how to make the most of the nowdays opportunities that arise from all this new kind of information and new technologies and tools to analyse that information in order to engage with this new generation, social, always connected customer in a Next Generation Customer eXperience game that can create new unprecedented business opportunities related to this still untapped by CSPs asset.
What Next ?CSP’s are building the customer experience in their products, services and processes through programs that map and improve customers journey targeting customer experience Transformation. Obtaining consistent results requires a 360° view of customer interactions across all touch points in order to weight priorities, focalize and plan the investments. This requires putting together minds across departments in order to create important initiatives, frameworks, capabilities, partnerships and culture through collaboration across Business, BSS, OSS and network departments, as customer experience encompasses all of the above, going from marketing, customer acquisition, product, fulfillment and activation to service assurance and billing, alimented by CRM, usage data (e.g. DPI), network data, coverage, performance and other access data, up to the customer end devices.
The customer experience game is not anymore about keeping customer satisfaction on existing services at a certain level, providing competitive pricing or accurate billing in order to decrease churn. The objective, is about creating an unprecedented insight, reach and credibility, in order to keep the existing business and to qualify for new opportunities, related to the treasure called Customer, that arise (e.g. Mobile Advertising, with it’s 40% CAGR and >100BN market potential in upcoming years and many other digital marketplaces).
Customer experience is not vendor hype and a crucial know-how resides in the CSPs. In people that deal with the factors that determine the customer experience every day and are customers on their own. A shift is needed in order to create a new vision and culture that will embrace fully the Next Generation Customer eXperience opportunity.
please share your experiences and thoughts…