The Customer-Conscious C-Suite
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This document discusses how a customer-conscious C-Suite can catalyze company growth. It profiles the perspectives of different C-Suite roles such as the VP of Customer Success, CMO, CIO, CTO, and CEO. Each role is described in terms of how prioritizing customers can impact key metrics like churn rate, content marketing performance, user experience, and overall profitability. The document advocates that customer-conscious leadership should be woven into a company's culture and encourages readers to download a report on building a customer-focused C-Suite.
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The Customer-Conscious C-Suite
- 1. THE CUSTOMER-CONSCIOUS C-SUITE Catalyzing Growth with an Alternative Approach to Leadership
- 2. 50%OF MILLENNIALS MAKE AN EFFORT TO BUY PRODUCTS FROM COMPANIES THAT SUPPORT THE CAUSES THEY CARE ABOUT. 2 The brand has evolved. Today, companies are more than just business entities and products, but greater representations of people, beliefs, pursuits and experience. Millennials let their beliefs and causes inform their decisions about which brands and products to support. 1 1, 2 Forbes: 2015 Is The Year Of The Millennial Customer: 5 Key Traits These 80 Million Consumers Share
- 3. 3 eMarketer: Want to Improve the Customer Experience? Get Aligned Meet your customer-conscious leadership team. If your leaders approach business problems from an alternative point of view – from that of the customer – your company will see top line growth. Get a glimpse into how each C-Suite member thinks: 12%OF B2B MARKETERS SAID TEAMS WERE STRONGLY ALIGNED AROUND A HOLISTIC CUSTOMER EXPERIENCE STRATEGY. 3
- 5. Those charged with celebrating the success of customers know that sometimes it’s not always smooth sailing. When the waters are choppy, these executives need to course correct quickly or face declining revenue.
- 6. Reduce churn Churn rate tells two stories. Why someone stays and why someone goes. On average, a company loses about ten percent of its customer base each year. 5xMORE EXPENSIVE TO SECURE NEW CUSTOMERS THAN TO KEEP EXISTING ONES. WHEN YOU RETAIN TWO PERCENT OF THE CUSTOMER BASE, IT’S LIKE CUTTING COSTS BY 10 PERCENT.
- 7. YOUR NEXT C-SUITE AGENDA: Evaluate churn rate in sales or product installation/upgrade audit Review case studies on lost business and why Initiate a Customer Advocacy Program The V.P. of Customer Success who responds to the dynamic ebb and flow of customer relationships with tailored solutions will build a loyal crew of customers that make strong referrals.
- 9. 4 Aberdeen Group: Omni-channel Customer Care: Empowered Customers Demand a Seamless Experience In our social world, customers engage with brands as a part of their everyday experience, across several digital channels, including the contact center. 89%OF CUSTOMERS ARE RETAINED BY COMPANIES WITH EXTREMELY STRONG OMNI-CHANNEL CUSTOMER ENGAGEMENT. 4
- 10. Audit omni-channel communications Marketing efforts should serve a company’s diverse audiences, with targeted content across all channels, by drawing on past interactions and data. 90%+CUSTOMERS EXPECT OMNI-CHANNEL COMMUNICATION AND SERVICE FROM COMPANIES. 5 5 LinkedIn: 21 Stats Bound to Get Your C-Suite on Board With Content Marketing
- 11. YOUR NEXT C-SUITE AGENDA: Construct content strategy backed with deep audience and channel research Recruit SWAT team of writers Measure content performance to generate MQLs Content is king and consumers crave high-quality information from brands across all channels. Strong, helpful and generous storytelling is key to establishing superior customer engagement. 78%OF CMOS BELIEVE CUSTOM CONTENT IS THE FUTURE OF MARKETING. 6 6 LinkedIn: 21 Stats Bound to Get Your C-Suite on Board With Content Marketing
- 13. CORPORATE INFLECTION POINT: To go from data collection and storage, to full-blown analytics in order to make better decisions across all departments. From the CIO perspective, customer-consciousness is the result of employing data to be more people-centric. The contact center is the source of the data what will reveal true customer demands. 2xDATA SCIENTISTS IN THE PAST FOUR YEARS. 7 7 Forbes: Hot Career: The Number Of Data Scientists Has Doubled Over The Last 4 Years
- 14. Wise up with data science When a company maintains a data mart that combines analytics from the contact center, workforce management, CRM systems, product engagement and the like, the Chief Innovation Officer will finally be able to answer some of today’s most complicated business questions: “What factors in the customer journey yield higher revenue?” “What can we update, feature or iterate on in order to optimize market opportunity?” “What types of conversations in the contact center lead to higher revenue?”
- 15. YOUR NEXT C-SUITE AGENDA: Invest in easy-to-use analytics tools so you may only require a business analyst Optimize company data mart for customer-driven innovation Install analytics at every customer touch point Ultimately, data science seeks to understand the human condition and what drives peoples’ behavior. Using both text and speech analytics will help measure context for a better understanding of the sentiment and emotion in the voice of the customer. This is the first step toward putting the customer at the center of corporate strategy.
- 17. As the economy undergoes digital transformations in all sectors, Software-as-a-Services and subscriptions are replacing traditional product delivery. The Chief Technology Officer knows that user experience (UX) determines adoption and loyalty. “Software is eating the world.” – MARC ANDREESEN, VENTURE CAPITALIST
- 18. Empathize to catalyze According to Yahoo! LABS, UX is “a customer’s emotional, cognitive and behavioral connection, at any point in time and over time” between the user and the software, app, or technical resource. BETTER UX = INCREASED SALES 74%OF BUSINESSES BELIEVE THAT UX IS FOUNDATIONAL TO INCREASING SALES AND CONVERSIONS. 8 8 Econsultancy: User Experience Survey Report
- 19. YOUR NEXT C-SUITE AGENDA: Remodel user experience Track behavior on website or in-app Hire top notch UX and UI designers to drive conversions If you’re a software or mobile app company and want to see growth in revenue, ensure that your CTO prioritizes a frictionless customer journey.
- 21. The buck can’t just stop with the CEO. Customer-conscious leadership must be woven into the DNA of an organization. 63%CEOS SEE RALLYING THEIR ORGANIZATIONS AROUND THE CUSTOMER AS ONE OF THE TOP THREE INVESTMENT PRIORITIES THIS YEAR. 9 9 PWC: Omni-channel Customer Care: Grow and create competitive advantage
- 22. There’s one trait the CEO needs to possess more than any other… CURIOSITY. “If you’re the boss, and you manage by asking questions, you’re laying the foundation for the culture of your company or your group.” – BRIAN GRAZER, AUTHOR OF A CURIOUS MIND
- 23. YOUR NEXT C-SUITE AGENDA: Begin and end with questions Challenge your team Identify new metrics of success The CEO breaks old models of thinking and identifies new metrics of success. CUSTOMER-CONSCIOUS COMPANIES ARE 60% MORE PROFITABLE. 10 10 CMO: 15 Mind-Blowing Stats About Customer Centricity
- 24. “That’s how you build better organizations: by setting a great example. Companies flourish when you put people above the bottom-line. We see it every day. We answer the call.” — TOM GOODMANSON, CEO OF CALABRIO
- 25. Interested in Building a Customer-Conscious C-Suite? Named Leader in Gartner’s Magic Quadrant, We Catalyze Company Growth: DOWNLOAD THE REPORT