Three things we learned at CEM for Telecoms Europe
After the success of previous years’ Customer Experience Management (CEM) for Telecoms Europe, we anxiously awaited its return. The event promised the opportunity to hear about innovative customer experience technologies, learn about benchmarking the customer journey, and gain insights from industry peers. And we weren’t disappointed.
The action-packed agenda offered exceptional customer experience (CX) learning experiences and key take-aways. We narrowed it down to the following three CX tips that we’re sure you’ll want to know more about.
1. Predict customer behavior: You’re already measuring customer satisfaction, but evaluating just a fraction of customer interactions tells only half the story.
Based on machine learning (ML) and artificial intelligence (AI), predictive Net Promoter Score (NPS) in combination with traditional NPS can help you determine the potential outcome of virtually any situation. Let’s assume Sarah has been traveling internationally and the amount due on her next invoice is bound to cause bill shock. By knowing this event can lead to churn, the service provider can proactively contact Sarah to offer a mobile package that better suits her needs.
By knowing what’s going to happen and acting on it, you can reduce calls to the contact center, decrease churn and boost referral rates. This session showed that by using traditional and predictive NPS, service providers can increase customer retention by more than 30%.
2. Understand customers better and prioritize actions: While current CX tools such as NPS and Customer Satisfaction Score (CSAT) provide the answer to ‘what needs to be fixed’, there’s a clear gap. Questions such as ‘how do we fix the issue’, ‘what will be the impact of the improvement and when’, and ‘what are customer expectations’ remain unanswered.
The results of the initial pilot to confirm this service provider’s hypothesis revealed stats such as:
- Negative experiences are dominant (67%)
- Customers (70%) remember negative details more precisely than positive ones
- Customer memories are reliable (70% within +/-1 month and 100% within +/-2 months)
- Details of negative experiences lasts longer than positive ones (10 months vs. 5 months)
By asking customers a single, open-ended question – “What do you remember (good or bad) about the experience?” – you can gain deeper insight into what matters to them and act accordingly.
3. Rise above the noise and reduce churn: The top reason for customer churn is that they receive irrelevant information or receive information at the wrong time (58%). When you dig a bit deeper, the number one reason for this is poorly targeted communications.
To make each customer interaction relevant, you need to focus on two things – the customer’s profile and their micro journeys. Creating well thought out profiles should include demographics, personality, psychographics, brand relationship, channel experience, location and behavior. And micro journeys need to take into consideration the storyline, tonality, complexity and length, delivery channels, timing and call to action.
Profiles and micro journeys can help you make lasting impressions by targeting messages to the emotional part of your customer’s brain. By delivering timely, relevant and personalized messages within the monthly bill, you can consistently delight customers and reduce churn.
Service providers face an increasingly competitive market where products and services are becoming virtually indistinguishable. To stand out in a crowded playing field, you need to communicate with customers in a more targeted, personalized and timely manner.