15 Ways to Supercharge Your Business – Week 3
Thank you to those of you who have already given us positive feedback on our 15 Ways to Supercharge Your Business programme! It’s great to see so many of you engaging with the content in your weekly emails, designed to help you analyse and adapt your business processes to the new, digital-first expectations of your customers and prospects.
Last week we took our first steps on the path to exploring the New Customer Journey, looking at the drivers behind the fundamental changes in customer behaviour and the typical stages of their journey from initial interest to point of purchase (and beyond).
We also talked about the benefits gained from improving and optimising your engagements throughout this journey.
Ultimately, we are looking to deliver great Customer Experience to drive sales, loyalty and revenue. Leaders in Customer Experience deliver, on average, 17% of revenue growth within 5 years, whereas poorer customer experience departments deliver 3% over the same period.
Benefits of delivering great customer experience include:
- Delivers brand differentiation and increase equity
- Builds customer satisfaction
- Seal the deal by ensuring the buying experience is exceptional
- Increases customer retention and repeat business
- Develops trust and loyalty for long term relationships
- Reduces servicing costs.
- Create advocates – happy customers who promote your brand for you!
So with this understanding in place, the next step is to help you map your customers’ journey and apply this newfound knowledge to make immediate, tangible improvements to their overall experience.
In essence, mapping the customer journey is about ensuring that the expectations of your modern customers are firmly at the centre of your business strategy. How many of us are guilty of making assumptions about buyer behaviour, when, in reality, these are based on no more than outdated thinking or preconceptions? This can be highly damaging to the effectiveness of so many areas of your business – sales, marketing, customer service and product development, to name but a few.
Challenging assumptions and applying some science to your customer journey removes the temptation to rely on guesswork and will give you detailed insights to help you get the most out of every customer interaction.
There are lots of advice and numerous templates available via the internet to assist you with mapping your customer journey. In our 15 Ways to Supercharge Your Business Programme we have based our guidance and free mapping template around own experience of going through the mapping process.
The model we have created called “The Road to CRM Success”, charts each and every one of our interactions with our target audiences – whether prospects, new customers or repeat buyers – at different stages of their journey to purchase. For us, it proved a very powerful exercise to break down the key components around targeting, engagement and business growth, helping us to identify where (and how) internal business processes could be brought into closer alignment with customers’ real needs.
The resultant graphic created provides a summary of our customer engagement and interactions which can be easily interpreted by the customer and gives them clear visibility and understanding of our joint working to deliver ongoing CRM success and value.
Watch our video below where Head of Services, EMEA, Andrew Heriot talks through our mapping model and how it’s played a vital role in improving our customer engagement, service delivery, satisfaction and advocacy.
If you haven’t signed up to our Programme, please do so below to access our Mapping Your Customer Journey eBook which includes a best-practice guide, an actionable template and important points to consider as you start to map your own customers’ journey.
We hope you find this week’s content useful – do share your feedback with us on social media. In particular, have you got any examples where you’re mapping and business process analysis has contradicted previous assumptions about customer behaviour? We find that it can be especially revealing when it comes to different age groups such as Millennials, about whom it’s very easy to jump to hasty conclusions.
Next week, our attention turns to the data deluge that risks engulfing your company as you navigate the New Customer Journey. We’ll be asking the question – are you deriving maximum value from your data assets?