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Improve Customer Experience Aiming to improve customer experience even further is totally possible even without spending large sum of money. Many companies have tons of untapped resources from within. Those who have succeeded both during and after the down-cycle are the ones that embraced slowdown as opportunity to strengthen business processes and innovation. This strengthening better aligns with offers and ways of doing business to which, fairly difficult to copy by your competitors. You may want to consider complaint logs, sales call and service reports, data residing in survey reports, win-loss analyses, blogosphere, CRM databases and the likes. A deeper and broader picture of customer experience will emerge soon if they’re pieced together. Then after, a small team would peruse these said resources to be able to enhance or create customer segment persona. What’s more, valuable insights can actually go beyond the typical persona definition from purchasing decisions focused towards panoramic view of full spectrum customer experience. This spectrum needs to be defined through customer interviews and it usually starts with his or her awareness of a desire or need for solutions and extending through full use of the purchased service or product including after new models that have been released and also the eventual disposal, upgrade or downgrade. There are going to be plethora of new avenues that’ll open with these insights.
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CLV or Customer Lifetime Value is cumulative profit stream over a certain period of interest that a customer has in certain brand category. CLVs can be revised as well in an effort to sharpen prioritization of panoramic experience persona segments. Prioritization can help executives and frontline employees of the company to come up with strategic and tactical decisions. Executives and frontline employees as well should be provided with tools to keep CLV policies a priority to allow CLV based decision making. Apart from that, being able to prioritize CLV helps in listening strategies and even experience improvement initiatives.
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Referring to experience persona as well as CLV findings, the next move is to review customer sentiment monitoring methods. In this case, it will consist of questions like is the full customer experience reflected, are CLV prioritized segments are accordingly represented, are these adequate representation of influencers across the experience spectrum, does it integrate the typical latent data that’s listed above to provide panoramic view and are employees at different levels involved personally in formal customer listening. The answers you’ll get to these questions will indicate whether data collection has to be adjusted for higher ROI in regards to its use for internal branding, affinity development and innovation.