Professional Documents
Culture Documents
CX INVESTMENT
CONTENTS
INTRODUCTION 3
RESPONDENT BREAKDOWN 4
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INTRODUCTION
What Are CX Leaders within the Telecom Sector Investing In To Enhance Their Cus-
tomer Strategies?
2016 was a big year for the Telecoms industry. M&A’s, fierce competition and hefty fines
have paved the way for CX professionals to shake up their strategies and make sure the
customers truly are the backbone of the business in 2017. It’s becoming increasingly
clear that failing to provide a fantastic customer experience in this industry can be
detrimental to your business as a whole.
• But what specific investments are currently being made to ensure a great CX strategy?
• What’s the best way to roll such strategies out across the business?
• How can CX Directors be sure they are utilizing the right partners?
Featuring exclusive insights from CX Leaders and highlighting the key investment plans
for the next six to twelve months, this report delves into the critical industry challenges
shaping 2017 and beyond!
THE RESEARCH
This report created by the Customer Experience Exchange for Telecoms is a definitive
guide to the top challenges, projects and biggest investment priorities shaping the 2017
strategies of Customer Experience, Services, Digital and Operation Leaders from across
the telecom industries.
These senior executives have shared their top challenges, plus their investment plans
for the next six to twelve months. You can discover the full industry and geographic
responsibility breakdown of those included in the research later in the report.
Read on to discover what tops the investment plans for 2017, and what is keeping CX
leaders leaders awake at night!
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RESPONDENT BREAKDOWN
Ahead of the Customer Experience Exchange for Telecoms, we asked attendees what their top investment priorities
were for 2017 and beyond. These attendees have told us that they are actively looking for tools and technology to
help them with these challenges, and recognise that these are the areas that need attention to ensure a competitive
edge in their business.
5%
Isle of Man
5%
ASIA
10%
Republic
of Ireland
35%
UK
5%
Channel 5% 10% 5% 5% 15%
Island Denmark Europe Finland UAE EMEA
PARTICIPANTS ORGANISATIONS
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TOP 10 INVESTMENT PRIORITIES OF CX LEADERS
With customer demands fluctuating at a faster pace than ever before, it’s important to understand the immediate
future landscape for Customer Experience professionals when it comes to specific aspects of your strategy.
Sure, it’s important to nail the basics, but it’s also important to make sure you’re allocating spend correctly in
your business. Failing to do so could mean the difference between a winning strategy and an irrelevant one.
Here is list of top 10 investments from current leaders in the field, all of whom are dedicated to nailing their
strategy and delivering ROI from investment made. Each category has been analyzed and rationalized to help you
make important decisions about where you spend your vital CX budget to ensure the highest chances of success
for your business.
CUSTOMER SATISFACTION
90%
It’s one thing to have a Csat programme in place, but leveraging it in a way that can deliver
real ‘moments of truth’ for the customer is difficult to achieve when building in-house
programmes. Therefore, it remains a key investment hub for CX professionals in 2017.
86%
Large Enterprise organizations with legacy technology makes for a difficult environment
to remain agile for the ever demanding consumer. Mobile is still a relatively new channel,
and with more and more apps with integrated capability for providers, as a CX professional,
you need a tool in place to help manage this change quickly and effectively, hence why it’s
a top priority.
84%
It’s not surprising that ‘CEM’ as a category features in the top ten. As CX initiatives become
ever more sophisticated and challenging to implement, the number of investments made
in this category will only increase as consumer demands rise.
83%
It’s clear that using a wide array of technological and insight led solutions will ultimately
help brands deliver a better experience to their customers, and it’s crucial for brands to
invest in their VoC listening and interpreting capabilities. The most advanced programmes
utilize CX analytics to make sense of previously untapped information, handy with all of the
date being collected across channels.
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TOP 10 INVESTMENT PRIORITIES OF CX LEADERS - CONTINUED
CUSTOMER INSIGHT
80% The age old ‘Insight into Action’ Mantra is more important than ever in an industry where
consumer demands are changing at a rapid rate. Insight solutions are a critical piece of
the CX function, and it’s vital to make the right decisions if you want to minimize churn and
gain brand advocates.
78%
One of the biggest challenges facing companies when they want to become customer focused
is that their own organization is based around functional silos. This can lead to a disjointed
customer journey for consumers who only want to see one face of the business. Because of
this, Customer Journey Mapping Tools are vital to ensure smooth interactions with customers.
76%
So how do you actually go about delighting customers who have had their expectations exceeded
so many times before? Loyalty and reward is now a necessity for customer strategies,
particularly in an industry where competition is so rife. It’s therefore unsurprising to see
this category in the top ten of investments being made.
CHURN REDUCTION
75%
Churn is among the key drivers for a cogent CX strategy within the Telecom sector. It’s
such a complex and deep rooted challenge that a serious portion of CX budget needs to be
allocated to this category.
70%
Convenience is a large part of how a consumer views the customer service you deliver.
Therefore investing in self service tools across your digital platform is vital for a seamless
experience that won’t leave consumers having to wait for answers to their queries.
70%
Still the industry standard when It comes to measuring Customer Experience. NPS programs
are becoming ever more sophisticated and, knowing that all competitors are continuing to
invest, it’s important to make sure your programme is as sharp as ever, and evolving with
the customer.
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TOP PROJECTS BREAKDOWN
Want to find out more details? Here are some of the REAL challenges facing the senior executives attending the
Customer Experience Exchange for Telecoms in 2017.
Conversion to digital care – This is about better UX and UI designs of our customer
care interactions management platforms... Going forward we will be looking at
all of the customer touch points and redesigning those touch points. We will also
be looking into acquiring a chat bot solution to enhance customer experience. We
would be looking to enhance our self care facility by making it more human and
user friendly.
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TOP PROJECTS BREAKDOWN - CONTINUED
A lot of the customers on our database have been with us for a long time so some
of our data is now outdated (decision makers’ names, correct numbers and sector
information). Without having better data it is a challenge for us to be able to drive
targeted and personalised campaigns. We need to improve our internal processors
and data quality in general. We have recently bought external data but need to
further improve this and gather up to date contact details through all channels.
Improving Customer Loyalty to grow revenue. Given the nature of the industry a
being highly competitive commodities market, price is key. A major focus moving
forward is driving internal initiatives to grow revenue; we believe customer loyalty
will remain at the forefront of our growth strategy.
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TOP PROJECTS BREAKDOWN - CONTINUED
Enabling first contact resolution. At the moment when the customer gets in contact
with us the time between the customer contact and resolution is too long. As part
of our transformation we need solutions that will significantly reduce the customer
journey. We are looking in to the mixture of different solutions including self service,
reducing call time and removing the initial problems. We will have to systematically
work forward with these over the coming years.
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TOP PROJECTS BREAKDOWN - CONTINUED
We are looking at the roadmaps of the current systems that we have and the user
experience for the employees as apposed to just the functionality. To start, we are
looking at the information gaps in the system to improve whilst also making the
sure that the employees can navigate the system in the most effective way. We are
looking at social learning systems.
Multi Channel Integration - Linking NPS measurements with Social media measurements
to get a true reflection of Customer satisfaction. We measure a lot in NPS surveys
and receive a lot of feedback from social media but we don’t have a single framework
to connect the two. We are looking for ways to combine and get an overview of the
different trends and dynamics from our feedback. We approach customers for
feedback on our service, on agents and their overall experience but they will also
go to social media ‘in the moment which is driven by emotion’ most likely if they
are angry or unhappy. Both have different characteristics but what I want to see is
how we can combine these to get a full picture.
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WHAT’S THE FUTURE OF YOUR CX STRATEGY?
This report was created ahead of the Customer Experience Exchange for Telecoms taking place in London on the 24th - 25th
April, where 70 CCO’s, (S)VP’s, Directors and Heads of CX will be gathering to discuss the biggest industry challenges and opportunities.
Here are just some of the key sessions created in direct response to the biggest industry challenges and investment priorities,
which may be of interest to you:
A REGULATORY PERSPECTIVE:
Improving Consumer Experience in the Communications Sector
This session will cover Ofcom’s insight into the importance of good customer service and
what they are doing to shed light on quality of customer experience in order to inform
consumer decision making and incentivise providers to compete on quality of service.
As it stands, the telecoms industry is undergoing some of the fastest moving consumer
changes of any industry. For customer experience professionals, this makes it one of
the most exciting industries to be in right now. But what are the key trends the experts
have spotted that you need to be aware of to ensure your strategies are successful.
Hear from leaders in the practitioner field as they talk about how they’re gearing up their
strategies to tackle the latest innovations in digital, community and product.
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The Customer Experience Exchange for Telecoms is the leading networking event for customer
experience decision makers from leading financial institutions from across the UK and Europe.
The Exchange’s exclsuive format brings together 80 CXOs, VPs/Directors and Global Heads of
Customer Experience to meet, discuss and share best practice on how to perform in a digital,
data and customer-centric world.
Alongside cutting edge & interactive agenda sessions, attendees will have the exclusive opportunity
to meet with innovative, future thinking customer experience solutions & services providers.
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INDUSTRY LEADERS AT THE CUSTOMER EXPERIENCE EXCHANGE
FOR TELECOMS
Here are the other industry experts who will be sharing their experience at the Exchange, in exclusive keynotes, case studies,
round table sessions and much more. Email exchangeinfo@iqpc.com to access the full event agenda.
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