Doing More with Less in Challenging Economic Times
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Retail focused webinar broadcast on October 25 covering how improved customer experience can be a differntiator in a tough economy
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Doing More with Less in Challenging Economic Times
- 1. Doing More with Less in Challenging Economic Times Dr. Gary Edwards Chief Customer Officer October25, 2011
- 2. We believe that everyone deserves to love where they work, shop and dine. Customer Relationship Optimization Page 2 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 3. Why Am I Here? Does the Experience Really Matter? Page 3 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 4. How’s the Economy? Things Aren’t Going Well… Page 4 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 5. Deliver on Your Brand Promise Three Ways to Stand Out Page 5 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 6. Happy Employees Make a Difference Engagement can be Contagious… Page 6 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 7. Turn Shopping into an Experience An Escape Worth Waiting For… Page 7 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 8. Shout it Out Loud Tell it to the World! Page 8 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 9. Don’t Believe Me? http://www.empathica.com/about-us/management-team/gary-edwards/ Use the chat button in the corner Let’s make this interactive Page 9 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 10. Customer Experience Really Does Matter Page 10 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 12. Better Experience Helps the Bottom Line Strong brand advocates spend more 65% 57% of customers purchase a product that was recommended to them by a Sales Associate http://www.empathica.com/consumer-insights/consumer-behavior-reports/ Page 12 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 13. But… …few are able to deliver a superior customer experience today… http://www.empathica.com/consumer-insights/ Page 13 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 14. The Opportunity of a Changing Economy Page 14 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 15. Tough Economic Conditions http://www.empathica.com/consumer-insights/ Page 15 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 16. Let’s Make it… a Bigger Deal Page 16 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 17. It’s the Experience Differentiate with experience Build an Emotional connection with customers Provide an escape from the bad news Page 17 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 18. Delivering on Your Brand Promise Page 18 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 19. Three Pillars of a Brand Promise Deliver the best Experience BRAND PROMISE Word of Corporate Mouth Culture Page 19 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 20. The Path to Delivering Customer Experience Employee Advocacy Engagement Page 20 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 21. Employee Engagement Page 21 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 22. People Experience Customer Experience EMPLOYEE Advocacy ENGAGEMENT Page 22 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 23. A Greeting Card Store • Greeting cards are a commodity • “I can buy a card anywhere” • An Experience that transcends a $7 purchase Page 23 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 24. Engaged Employees Create Emotion • Employees are engaged • They have to be… • Emotional product • Occasions all carry emotional weight • Employees who care Page 24 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 25. Why Caring Matters • Not just “Do you want fries with that?” • Employees who care about customer needs $598.08 140.00 $600.00 130.00 $430.71 120.04 $500.00 $379.54 120.00 $400.00 110.00 100.00 95.21 $300.00 90.00 $200.00 80.00 76.52 $100.00 70.00 60.00 $0.00 Neither Agree Nor Disagree Agree Strongly Agree Overall Satisfaction Projected # of Visits per Year ($) Projected Yearly Spend Page 25 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 26. Basic Human Needs Haven’t Changed An emotional connection to the brand is only possible when basic needs are satisfied SELF-ACTUALIZATION I love this place ESTEEM I feel important here SOCIAL A place where I belong SAFETY I have the support I need PHYSIOLOGICAL I am compensated for my work Abraham Maslows Hierarchy of Needs Page 26 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 27. Everyone is Slightly Different Page 27 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 28. How to Keep Employees Engaged Our research consistently demonstrates the importance of: • Belief in opportunities for Growth personal and career growth • Positive relationships with Relationship coworkers and management • There is a common belief in Pride brand and tribal values Page 28 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 29. Customer Experience Page 29 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 30. Product Experience CUSTOMER EXPERIENCE Employee Advocacy Engagement Page 30 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 31. The Pharmacy Experience • Differentiate with the product set • Products can deliver a targeted experience Page 31 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 32. Listen to Customer Needs • Emotions are not always logical or linear I need milk, lipstick, photos and pain killers… Page 32 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 33. Building the Right Experience The Drivers of the Drivers Page 33 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 34. Experience Creates Perception • The experience creates perception • Use this to your advantage • What is “Quality” ? Page 34 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 35. Prescribe Communicate The Opportunity • Show current position through evolution of stages Define Success • Share targets for graduation to the next stage Prescribe Action • Update performance vs. the benchmark • Provide behavioral diagnostics • Incorporate best practice guidance Page 35 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 36. Building Advocacy Page 36 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 37. Share the Experience Customer Experience Employee ADVOCACY Engagement Page 37 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 38. Discount Retailers • Emotion doesn’t mean luxury • Even discount retailers can drive great advocacy • Focus on experience, and leverage advocates Page 38 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 39. Customers Are Talking… “Found one item for me then when I asked where shower curtains are - she TOOK me there and showed them to me.“ “Made sure my glassware was wrapped so that it wouldn't break. The cashier even put it in a cardboard box. She didn't have to go to that trouble.” Page 39 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 40. …Everybody’s Listening Social Media Adoption 75%of Facebook users ‘like’ between 2 and 10 brands Source: Mashable Business Page 40 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 41. Advocacy NOT Advertising Paid Advertising 13.5 X’s higher click rate than Facebook advertising 8.5 X’s higher click rate than Google/Yahoo advertising Page 41 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 42. Three Pillars of a Brand Promise Deliver the best Experience BRAND PROMISE Word of Corporate Mouth Culture Page 42 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 43. We believe that everyone deserves to love where they work, shop and dine. Customer Relationship Optimization Page 43 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved
- 44. Questions? Download our Free Consumer Insights Study www.empathica.com/consumer-insights/ Page 44 - 11/9/2011 ©2011 Proprietary & Confidential – All rights reserved