-- By CB Rajesh--
“As you turn the wheel of CX with empathy and hope, First spin overwhelms you with expectations and grievances, Second spin sprinkles trust and gets your worth higher, Third spin honors your name and swell your caravan.”
One of those unassuming day, I received a survey from a brand I have been engaging for some years. As usual the questions in survey were related to my satisfaction on a recent transaction and I happily gave them a thumbs up! To my surprise another link popped and asked me weather I am willing to buy their yearly membership for exclusive benefits, this put me in fix and even before I could reason with myself on an additional spend, I had already clicked it and the payment option was blinking for my next swipe. The exhilaration of thumbs up was so high that I ended up subscribing to it. I never had to regret my decision even once post facto as they served even better. Sometime later I found myself promoting this brand to my friends and family as an ardent fan. In short, this brand moved me from loyalty to enrichment and then finally to advocacy. They kept focusing on me despite being a promoter and extracted more value, this what I call a classical CX: the wheel of fortune at play where you gain on each cycle.
It is quite natural for any organization transacting with B2C or B2B customers measuring the customer satisfaction periodically and the measurement tools / CX metrics could vary depending on the strategy and suitability of the business. Once the feedback is received, how do we go about dealing with it? We mostly dive into fixing issues of dissatisfied customers and evolved ones deploy service recovery models to win back. The majority of our attention gets directed towards detractors or dissatisfied customers. Instead, can we also focus our energies towards promoters and satisfied customers, this segment offers a huge opportunity to enhance new usage, uses & users if targeted smartly with customized offers. Idea is to create more value without diminishing experiences.
I am a proponent of replicating our strengths and hence recommend highly to have a promoter-driven program alongside fixing issues, processes and technology to improve customer feedback. Idea here is to focus on the customers who are satisfied with your product or services and giving you a promoter, why not focusing on creating more promoters by replicating insights from satisfied customers. In short, do not convert you CSAT or NPS programs exclusively focusing on detractors, we must have a plan to sustain, expand the satisfied base and improve customer lifetime value (CLTV)..
Initial phases of CX journey are a process of discovery, here the organization along with its people are understanding the feedback and creating an issue redressal mechanism. This stage is more transactional in nature and as the process matures it gets upgraded from support, service to experience-related actions. The enhanced customer experience increases customer’s likelihood to remain with the brand, this will drive retention substantially and protect current revenues.
This stage can be achieved through,
Second phase is about measuring customer experience, knowing our promoter base and the key levers behind their satisfaction. We need to then focus on how we can increase their wallet share, hence it is critical to identify avenues to increase usage and new uses through smart promotions. What is important here is that we are focusing on value creation for both customer and the organization. This will require us to find answers to the following questions,
It is important to assess customer needs using feedback and applying intelligence to create customized products and services by showing enhanced benefits to customers. e.g. once I had received an email from my telecom provider to enroll onto a higher rental plan to save cost on international calls/roaming which actually resulted in an overall cost saving. This was a sudden spurt of usage last year and they wouldn’t have noticed without an in-depth analysis. There is always an opportunity to analyze customer’s habits and their usage pattern, to identify fringe benefits which can be used for creating a tailor-made offer to a satisfied customer. A time-bound and an effective communication strategy to promote these customized solutions are also imperative to its success.
The third phase involves using the power of promoters as our brand ambassadors and acquiring new customers through their clout. Once we reach the stage of advocacy it is about additional value creation through smart incentives for referrers & referees. There are numerous ways to use these set of customers for onboarding new users and promoting the brand, few are listed below:
In summary, some of the recommended best practices are,