Tag Archives: Customer Value

Idea Gathering: Customer Experience & Customer Journey Mapping


Not just hearing, but translating innovations and insights is a huge part of the value of the Total Customer Experience Leaders. Our unique idea gathering wrap-ups between sessions facilitate alignment of customer strategy inspiration with business relevant actions and have been one of our most highly rated features in the past.


Here on the blog, we’ll be presenting weekly idea gathering wrap ups of some of our favorite customer experience strategy, design and alignment news and views.  

This week our focus is on Customer Journey Maps.

Customer Journey Maps are one of the most underrated parts of a good Customer Experience Strategy and are all too often under utilized or not used at all. Imagine a general who made battle strategies without a map or a contractor trying to build something without blueprints. 

These examples are exactly as absurd as trying to create a customer experience strategy without a customer journey map. Customer Journey maps track customer engagement with a business every step of the way from the first interaction, or thoughts of potential interaction, to after the sale, and every possible step in between. 

Customer Journey Mapping is about understanding the wants, needs, interactions, and emotions of the customer in relation to your business. How does walking into one of your stores make a customer feel? What is a customer thinking when they search for your product online? These are examples of questions that a good customer map should answer. Taking the time out to actually relate to the emotions of customers is an invaluable effort that will reflect greatly on actual customer experience. PeopleMetrics describes this kind of customer empathy as ‘mak[ing] it easier to shift out of internal process mode and into thinking about how the company could be doing a better job of delivering value to customers.’
Customer Journey Maps should not be taken lightly and to create a truly effective map takes a lot of time and research to determine actual customer experiences and emotions. You also might not like what your first map looks like but that’s part of the process.
UXmatters.com explains that Customer Journey Mapping is all about very subtly selling service design. They define service design as ‘the design of the overall experience of a service, as well as the design of the process and strategy for providing that service’ . 

This means that customers should enjoy the experience of doing business with a company every step of the way despite the fact that the experience is not something which can physically be capitalized on. So while making a Customer Journey Maps wont instantly give you business,  when properly used, they will significantly improve the experience of the customer.

About the Author

Jeffrey Marino is a contributing writer concentrating his focus on Business Administration, Management Information Systems, and Tech Innovations. He blogs at Fordham Nights and can bereached at JMarino@iirusa.com.

A Look Back at TMRE 2009: Measuring and Improving the Long-term Impact from Marketing

The Market Research Event 2010 is taking place this November 8-10, 2010 in San Diego, California. Every Friday leading up to the event, we’ll be recapping one session from The Market Research Event 2009.

Measuring and Improving the Long-term Impact from Marketing

Measuring and Improving the Long-term Impact from Marketingfor Fast Moving Consumer Goods
Rick Abens, Conagra Foods

Customer lifetime value (CLV) is the value to the companies see on the P&L of measuring marketing efforts over time. Conagra Foods was trying to link marketing to P&L. CLV is a forward looking metric, it’s value is measured starting now until the end of the customers lifetime.

What’s the value have for teh entire supply chain for ConAgra foods? Their goals is to measure and improve marketing and drive long-term customer value and loyalty.

The mew Marketing Accountability Standards Board invited many individuals to join in the conversation including finance, marketing, researchers and academics. It was founded to help increase that status of marketing in the boardroom.

Key issues for packaged goods companies
-How do we drive long-term growth with marketing?
-How do we develop customer acquisition and retention marketing strategies that are impactful?
-How do we match the right offers of the most responsive customers?

Standard marketing mix modeling output: total volume and subdivide it into the volumes that are driven into trade, promotion, advertising and baseline.

If you look at the baseline as a function of long-term marketing, you can begin understanding it.

Sources of growth: acquire new customers, retain more customers or increase purchasing size. Many customers are flat lining, new customers equal lost customers and retained customers, includes Healthy Choice, and Maxwell.

Summary:
-Marketing is not about getting the next incremental sale, it’s more about getting new customers and making them loyal to your brand.
-Understand whether or not your strategies are working.
-Back to targeting, more aggressive media happening every day in the household. Cut some advertising and target the right people. Television is very important.

NACCM 2009: Going for Gold: Living Up to Olympic Size Expectations

Going for Gold: Living Up to Olympic Size Expectations
Rick Burton, CMO, United States Olympic Committee 2008, David Falk Professor of Sport Management, Syracuse University and Co-founder of Sportgiving

Most of the attendees know more about service customers than Mr. Burton. But he will share a few stories that challenge our thoughts and return the messages back to our businesses.
Burton has had many roles in his careers, including beer, football, college kids, the Olympics and college kids. He’s willing to challenge authority and challenge the rules.

He once worked with the NFL. The NFL gave the fans what they wanted. More scoring, this includes bringing in the uprights for limiting field goals. The NFL was listening to the customers and brought in more touchdown.

Customers need to come first. Burton has always been inspired by sports. How can the Nike video below inspire your company? Nike gives athletes the chance to keep on going, challenge their borders and go farther than they’re able to. The company started by athletes for athletes. They want to give them better products and a better chance to thrill them.

He was able to be the Chief Marketing Officer going into the 2008 Olympic Games. His companies involved were Coca Cola, Budweiser, Bank of America, and Kellogg’s. These business are the best at what they do, but no one person can take credit for the greatness of the Olympics. He was a part of the team, and they needed the ability to sell their products and make sure their customers were satisfied, whether if it was Corn Flakers or a bank account. AT&T put on a program where each night a song was featured. When users downloaded the song, the proceeds went back to the athletes. The ratings were very, very high, and it was also available across many platforms.

The thing about the Olympics, do your employees see themselves as champions? Athletes have to become champions by going on step at a time. In great leadership, you must be able to bring more out of the people around you.

You must trust: vision, staff, peers, product, organization, faith, view of the world, and yourself.
Are you sacrificing your creativity by not taking enough time for vacation and letting yourself relax? ‘Change or die’ is crucial for how you live and interact with the world around you.
Children’s books and movies can be a source of inspiration.

What are three things your customers need? What are three things that your customers want and you’re not giving them? How often do you dream ahead 6 months in your business, in your career and in your customers. What would you like to see? If you don’t see anything, what does this mean for your creativity? Are you searching for excellence or settling for mediocrity?
Wow. What’s your definition? What’s your new outlook for your business?

TMRE 2009: Measuring and Improving the Long-term Impact from Marketing

Measuring and Improving the Long-term Impact from Marketingfor Fast Moving Consumer Goods
Rick Abens, Conagra Foods

Customer lifetime value (CLV) is the value to the companies see on the P&L of measuring marketing efforts over time. Conagra Foods was trying to link marketing to P&L. CLV is a forward looking metric, it’s value is measured starting now until the end of the customers lifetime.

What’s the value have for teh entire supply chain for ConAgra foods? Their goals is to measure and improve marketing and drive long-term customer value and loyalty.

The mew Marketing Accountability Standards Board invited many individuals to join in the conversation including finance, marketing, researchers and academics. It was founded to help increase that status of marketing in the boardroom.

Key issues for packaged goods companies
-How do we drive long-term growth with marketing?
-How do we develop customer acquisition and retention marketing strategies that are impactful?
-How do we match the right offers of the most responsive customers?

Standard marketing mix modeling output: total volume and subdivide it into the volumes that are driven into trade, promotion, advertising and baseline.

If you look at the baseline as a function of long-term marketing, you can begin understanding it.

Sources of growth: acquire new customers, retain more customers or increase purchasing size. Many customers are flat lining, new customers equal lost customers and retained customers, includes Healthy Choice, and Maxwell.

Summary:
-Marketing is not about getting the next incremental sale, it’s more about getting new customers and making them loyal to your brand.
-Understand whether or not your strategies are working.
-Back to targeting, more aggressive media happening every day in the household. Cut some advertising and target the right people. Television is very important.

It’s harder to hold on to today’s customers

Mike Linton of Forbes recently commented on the difficulty that is keeping customers for your business. We all know that it’s far easier to keep customers you currently have rather than acquire new ones.

However Linton makes the point that as long as you have a brand that stays relevant and listen to customers needs. He also points out that it’s important to stay relevant in your customers mind when it comes to value and pricing.

Everyone is hurting today in this economy. How are you ensuring that your customers are going to receive the best price and value from you?

What Exactly Does a Customer Want From Customer Service?

I came across this article in MSN in which Barbara Findlay Schenck lists a couple of straight answers of what customers expect from customer service. Here’s the list below.

1. To be greeted promptly ‘ whether in person, on the phone or via a quick-loading Web site.
2. To have concerns addressed with sensitivity and efficiency ‘ with eye contact if the exchange is person-to-person.
3. Clear communication from people who know what they’re talking about.
4. Individualized solutions rather than cookie-cutter responses that apply to one and all regardless of unique needs or circumstances.

Seems like a simple guideline to follow, customers need to feel appreciated and valued. What are some other aspects of customer service that customers expect to get each and every time?

Taking care of your customers

A great article at the Customers Think blog, they discuss how one company is not increasing their fees for their customers. They realize that everyone is currently going under an economic burden. Currently, everyone is cash strapped, and they realize that hiking prices now could increase revenue now, but there is no incentive for customers to stick around in the future.

Do you see it this way?