Customer Experience initiatives should focus on behaviors that drive growth and strengthen loyalty. Satisfying all your customers all the time is not the answer. Building strategy around increasing your share of their wallet is.
The Retail Practice at Ipsos Loyalty is dedicated to creating research programs that impact business performance. To cater to the varied customer insights needs common across all of our Retail clients, we have a set of core tools which help to provide a framework for understanding and action.
It is often the case that organizations are not able to comprehensively articulate the experiences that customers have with their brand – neither the good nor the bad. Our Ideal Customer Experience (ICE) process uncovers this, putting it all in context.
We build comprehensive customer experience maps which outline the extent of positive and negative interactions across each of your touchpoints. Importantly, we take it further by helping to define normative expectations within each, informing recommendations for service improvement and relationship recovery initiatives.
Rank matters. Your customers actively compare you to the market. The better you do against competitors, the larger your share of their spending. Customer experience strategy should be built around the same principles.
However, this comparison matters most at the customer level, not at the brand level. The Ipsos Loyalty Wallet Allocation Optimizer allows us to understand your strengths and weaknesses in a real competitive context and build strategy around increasing your rank – and therefore share of wallet – instead of solely focusing on making all customers happier (i.e. focusing on customer satisfaction alone).
Ownership and management of the customer experience throughout the enterprise is reliant on quick, actionable data feeds of customers’ experiences across all touchpoints.
Ipsos Loyalty provides retailers with an integrated state of the art customer feedback and online reporting solution which allows managers to understand how they are performing on the most important aspects of the customer experience, while providing direction on where and how to effect change.
Data are rolled up through the chain to allow for identification of best practice and improvement areas at a macro level, while dealing with service breakdowns quickly and professionally through the integrated Hot Alert function.
Customer experience data should be rich and descriptive. Incorporating other layers of data into analytics helps to create stronger insights both contextually and for predictive purposes.
Big Data analytics is one way of doing this – bringing in operational, financial, purchase or HR metrics into the analytics process helps to build an integrated view of performance. Harnessing unstructured data – from Social Listening or customer service calls – is also an important well of information that has long been under-utilized.
The Ipsos Loyalty Consulting Practice’s main role is to help our clients maximize the value of their customer research by driving action. We do this by providing consulting services which focus on: