Are you losing too many customers or sales opportunities? Are you experiencing too much negative word of mouth? Are customers’ expectations changing faster than your company’s ability to stay ahead of the competition? Do you have trouble aligning the efforts of intermediaries in order to deliver for the customer? Are customers behaving in a way that constrains or undermines your efficiency and profitability? Are all your efforts just leading to “better sameness”?
Over the past couple of years, I’ve covered an extensive array of topics focused on how companies can address these issues. In this post, I’d like to take the liberty of describing the type of work we do and the unique tools we use in the process.
My colleagues and I at Customer Innovations have a 25 year track record helping leading organizations create experiences that improve the acquisition, retention, and profitability of customers. In the course of our work, we’ve demonstrated bottom line results of 10-25% in the form of increased retention, incremental sales, reduced acquisition costs, positive word of mouth, higher price realization, and improved productivity of customer-facing operations. Most of our work has been with organizations that create experiences across complex networks of “customers” including consumers, agents, brokers, retailers, and other influencers.
Our work generally takes the form of these types of efforts:
- Rapid Revenue Retention. We quickly identify specific elements of the current experience that are leading to attrition, lost sales, negative word of mouth, and unproductive customer behavior. Intensive 10-12 week efforts often lead to $10 – $100 million in benefits.
- Accelerating Sales From the “Outside In”. Rather than starting with the internal structure, processes, tools, and training, we start with a deep understanding of how and why your customers buy and then focus improvements on shifting buying behavior.
- Creative Customer Insight. Without breakthrough customer insight, design efforts can only produce “better sameness.” We have a unique approach to surfacing customers’ latent motives, beliefs, needs, and priorities in a way that informs the creation of highly evocative and profitable products, services, and experiences.
- Signature Experience Design. We design, deliver, and engage customers in experiences that capture their attention and influence the actions they take. These evocative experiences are structured to tell a meaningful and influence customer behavior using a set of differentiated “signature experience” elements.
- Aligning Effective Employee and Intermediary Experiences. We help create the specific employee and intermediary experiences required to ensure that those who work directly or indirectly with your customers reinforce the intended evocative experience.
We Have a Unique Technology for Creating Experiences that Influence Customer Behavior
Traditional touch-point oriented approaches rarely deliver more than “better sameness” because they focus on how the organization delivers an experience rather than on deeply understanding how people actually have experiences and how those experiences influence behavior. Customer Innovations has a unique approach and toolset for designing evocative experiences that positively and profitably influence behavior.
- Experience MinerTM – Traditional “voice of the customer” approaches are insufficient for understanding the largely subconscious processes that influence customers’ desires, preferences, emotional states, choices, and behavior. Based on 25 years of cognitive and behavioral research, the Experience MinerTM toolset helps surface, analyze, and measure the ways customers think about, feel about, and act on their experiences.
- Experience DesignerTM – The output from Experience MinerTM feeds our structured Experience DesignerTM toolset that guides every step of the experience ideation, concept development, specification, and blueprinting processes. Experience DesignerTM also incorporates an integrated experience-chain framework that helps specify and design the specific employee and intermediary experience interventions required to generate the intended customer experience.
- Experience EconomicsTM – It’s exceptionally easy to deliver an uneconomic experience. Most organizations simultaneously over-invest in elements of the experience that don’t matter to customers and under-invest in elements that have significant influence on customer behavior. The Experience EconomicsTM toolset helps companies find the optimal investment point based on the influence that individual and collective experience design elements and service levels have on the financial performance of the business.
I’ll continue to expand on these tools in upcoming posts. In the meantime, you might want to check out the following links:
- Rapid Revenue Retention: A “Swarming” Approach to Keeping Customers During Recessionary Conditions
- When the Going Gets Tough… The Tough Get Closer to Their Customers
- Choice Architecture: Designing Experiences that Influence Customer Behavior
- Designing Experiences that Fit the Customers’ Mental Model
- Integrating Customer and Employee Experiences
- A Break in the Service Profit Chain: Why Increases in Employee Engagement Don’t Improve the Customer Experience
If you’d like any more information, just post a reply or send me a note at fcapek (at) customerinnovations (dot) com. Cheers, Frank
Filed under: Cognitive Ergonomics, Customer Analytics, Customer Experience, Employee Experience | Tagged: behavioral economics, Customer Experience, customer retention, experience designer, experience economics, experience miner, Neuroeconomics, revenue retention |