Do you believe you are Customer-Centric?
Being customer centric is not a new movement.
The desire of our executive teams, their vision and their focus typically surrounds a customer centric strategy that we are asked to help ideate, define, refine and execute. We have the great honor of working with well-known brands across the globe. Our product and transformation methodology is the same for each partner, regardless of scope, size or challenge.
Not all of our partners have a defined customer centric roadmap (insert words Journey, CRM Strategy, Customer Engagement Strategy, CLV improvement plan, etc.). Typically, the marketing or customer organization owns this plan and it is aligned to big bet financial gains and required investment. These plans are some of the best PowerPoints you will find in corporate America and beyond. The rub > often the PowerPoint is not practiced in Reality nor understood by those required to support it.
In reflection, and in order for TPG to better serve our Mission, I have been pondering two questions for many years…
- Where do our clients succeed in the delivery of their Customer Roadmaps?
- What are the internal barriers in front of our clients that inhibit their ability to achieve improved levels of transformation, ROI and customer success?
What we are not discussing is competition, market disruption, demographic change, economic policy, social change….you know…the good stuff. We call these “external customer factors” and we have a lot of really smart partners innovating daily on these factors within their businesses.
What I am talking about sits within your control today…is actionable…and simple in concept. Our findings and experiences are shared below.
Is your Business Customer Centered?
· You can only execute a customer centric experience if your business is positioned to do so.
Five consistent attributes have surfaced across Customer Centric plans that either failed to action or did not yield adoption across the organization we serve. If any one of these attributes either fail or are not present, risk will exist in executing your customer strategy.
Examples of a Customer Centered Business™ in Reality
We will briefly share a couple of real-life customer experience transformation stories that embody all five aspects of being a Customer Centered Business™. Each year, our TPG clients tell stories to each other about our collective customer impact.
Global Entertainment and Travel Co.: Goal: Establish a Personal Vacation Advisor and Incentive program called Trust Model. This strategy allows our Trust Model to advance the culture and DNA of the Reservations center.
Corporate Financial Strength and Discipline – Built a business case to prove that a personalized staffing model, incentive plan would deliver top-line results beyond current benchmarks. Leadership stayed committed to the plan quarter over quarter (YoY) staying disciplined to the transformation.
Customer Authenticated Roadmap – Test and Control model proved impact and that our guests benefit and enjoy the experience.
Unbiased, consistent and representative Customer Experience Learning – Customer Experience Performance Management program serves as the VOC, agent skill and dialogue model.
Repeatable Customer Engagement – The Reservation center has more than three years of progressive performance improvement against the behavioral and dialogue components identified to drive engagement and revenues.
Employee Advocates – Team members are clear and motivated by the ability to serve the customer and serve the shareholder, thereby serving their families.
- Customer Centric ROI: Our deployed Trust (CX) performance management strategy is delivering a significant lift in Conversion, Revenue per Reservation and increased CSAT.
Global Top 10 Property and Casualty Insurance Company: Being SMART: moving beyond historical metrics to create Exclusive Agency salesforce and Brand-centric culture.
Scenario: 10,000 Field Agents being served by a mid-sized team (Agent Service Center) to help solve technical, policy, procedure, issues.
Purpose: High priority to streamline and improve the interactions from this channel in order to optimize the sales experience for our consumers and remove technical and processing issues for our Exclusive Agency salesforce.
- Voice of Customer around Level of Effort confirmed our strategy to create Smarter, more streamlined interactions in the channel was felt by our callers
- WIN: Better experience, empowered this Insurers Agency Salesforce to have more time to focus on the Insurance customers while reducing cost to serve for the ASC creating a 15X Return on the Agent Service Center CX performance management strategy.
All five attributes of being a Customer Centered Business™ are present inside this business as they invest focus, belief and passion on building a customer centric business and engagement model. The above is the ‘action’ behind their Mission to provide industry-leading products and first-rate services to the customers we’re privileged to serve.
TPG is privileged to do its part in serving and enabling that Mission. Please feel free to reach out to discuss and action becoming a more Customer Centered Business™.