Channel Management - ensuring a positive customer experience across all channels

Your customers expect to be able to make contact on the communication channel that’s most convenient to them at a particular time and place – whether that’s traditional routes like voice or chat or automated services, designed to optimize the customer journey. They also expect the same high service levels and alignment with your brand promise. So it’s not surprising that research shows that most customers use multiple channels and that around 67% of customers can potentially be lost when those channels aren’t available. What is surprising is the fact that some businesses don’t currently have a dedicated omni-channel strategy. In fact, in Germany, this figure is 80%.

Omni-Channel Strategy & Optimization

At Majorel, designing, implementing and fine-tuning omni-channel strategies is a basic. This means that we’re ideally placed to help you navigate the various options and determine the optimal mix for your customers and your brand. Increasingly, this includes an integrated hybrid approach combining traditional channels with digital, automation (like self-service) and, naturally, the human touch – to create an approach that’s unique to you.

While no two consulting assignments are the same, we’d usually start with a careful analysis of your current channels, volume and distribution, and the customer journey, supplemented with customer surveys and benchmarking. We’ll then move on to defining your optimal customer journey and, from that, derive the strategy and channel mix. Of course, our operations experts are also at-hand to support the set-up and implementation process too.

The benefits of a fully optimized and efficiently implemented omni-channel strategy are clear:

• Increase in service quality and customer satisfaction: We help you create an optimized and unique customer experience through unified support across multiple channels
• Loyalty and recommendations: Satisfied customers turn into long-term fans and promoters of your brand, expanding your customer base through recommendation
• Increase of sales value and conversion rate: Research consistently shows that satisfied customers buy more often and more

Data & Insights - using data to excite your customers with personalized offers & services

Hardly a day goes by without media commentary around the impact of Big Data. Usually, it’s negative, focusing on the “creepy” angle. But there are huge benefits to both customers and businesses in harnessing its power in a sensitive, thoughtful way as a tool to a) improve customer service, b) ensure that communication is more relevant/personalized and c) deliver more value.

Insight Analysis

Your Customer Service team collects tons of valuable information about the daily problems of your customers. Typically, this is not systematically evaluated and therefore remains unused. From operating our own centers, we’ve developed a proven methodology to unlock this knowledge bank. We routinely use this data for the continuous improvement of not only our own service, but the products and services of our clients too.

At a high level, our approach is in four steps: structured collection of customer contacts; identification of call triggers (usually, the effects of actions are known but the triggers often remain a mystery); analysis of reasons for action; synthesis of the potential and concrete recommendations for action. This way, we get valuable insights that otherwise might remain unhidden:

• Comprehensive & fast: we analyze all customer inquiries within a period of 4-8 weeks using our proven methodology
• Actionable insights: from day one, the results of the analysis typically provide data that can be acted upon almost immediately
• A strong base for a service strategy: from the results of our insight analysis, decisions can be made regarding key service delivery topics like automation and digitization

Majorel Voice of Customer™

What your customers say, write and think about their experiences with your company can give you valuable hints on how you can significantly improve your products and services. Our proprietary Voice of Customer (VoC) Program systematically collects both direct and indirect customer feedback across all communication channels, allowing you to use the data to optimize customer experience.

We can accompany you from designing a VoC program tailored to your specific needs, to the evaluation of the data and defining actionable outcomes:

1. Requirements and conception
2. Support in VoC tool selection (from defining the criteria relevant to your company to the preparation of tender documents)
3. Technical and professional support of the implementation (from the integration to the definition of the relevant KPIs)
4. Accompaniment and/or implementation of employee training courses
5. Support in data collection, processing and analysis
6. Defining the strategy

Our VoC Program allows you to: gain valuable insights into your customers’ perceptions, opinions and emotions at each of your relevant touchpoints; anticipate trends to optimize your products, services and brand perception; increase the satisfaction and loyalty of your customers by responding even better to their needs based on their feedback.

And research shows that companies with a best-in-class VoC program experience 10x higher annual revenue growth than their competitors.

Customer Journey - get to know your customers better & deliver unforgettable experiences

Optimizing the customer journey involves creating links between customer interactions across multiple touch points, with the objective of managing and continuously improving the overall customer service experience.

Our operations experts will guide you through the five steps towards creating amazing customer experiences:

1. Creation of one or more typical customer profiles (or personas)
2. Analysis of the current customer journey
3. Identification of “moments of truth”
4. Design of a new customer journey
5. Monitoring and improvement

Naturally, developing a future-oriented and totally unique customer experience is crucial, especially considering that research predicts that 89% of all companies will compete on the basis of CX in the future (Gartner).

And there are additional benefits too. These include:

• Identification of customer needs: Our comprehensive process and communication analysis from the customer’s point of view leads to the identification of potential areas for improvement and innovation.
• Development of an innovative and optimized customer communication approach: The customer journey analysis identifies use cases for digitization, automation and process improvement.

Sales & Retention - increase revenues & explore opportunities for customer recovery & loyalty

We see every customer contact – across all channels, human, automated and hybrid – as an opportunity to build loyalty and, at the right time in the customer journey, an opportunity to increase value. Our consultants will share proven strategies and approaches to increase Customer Lifetime Value (CLV), improve Net Promoter and Customer Satisfaction scores (NPS and CSAT), maximize up-selling and cross-selling opportunities, and retain and win-back customers. And because our Consulting Services are practice-based, we have a strong focus on actionable outcomes.

It’s common knowledge that it’s far cheaper to retain an existing customer than it is to win a new one. In fact, according to the Harvard Business Review (HBR), it could be up to five to twenty-five times less expensive.

That’s why excellent customer service is an essential part of any successful company – every customer that goes away happy is likely to return in the future and may act as an advocate for your brand, selling it to others on your behalf. But there’s an even greater prize on offer to those who take the right approach to managing their existing customer base. If you can turn a one-off purchase into recurring revenue, you can start to build a following you can rely on, with income that is easier to forecast.

So, beyond delivering an excellent experience to customers every time, how do you keep them coming back? One proven tactic is a well-designed customer loyalty program. A small investment in a loyalty program can translate into much bigger increases in customer spending. And, with a loyal customer base, your business is much more likely to benefit from word-of-mouth marketing.

In fact, customer loyalty is a particular passion at Majorel. We pioneered the very first air miles program in the 1990’s and, since then, have gone on to run loyalty for some of the world’s best known brands.

Customer Loyalty – 4 Benefits That Increase ROI

1. Win repeat business

Studies show that familiarity with a brand resonates strongly with consumers, with 60 percent of people across the globe that have internet access preferring to buy from a brand they know rather than trying somewhere new. This is why, according to Bain & Company, an increase of just five per cent in loyalty program spend can lead to an increase in the average profit per customer of between 25 and 100 percent. Rewarding customers, by introducing loyalty points and incentives for every purchase made, can also motivate them to spend significantly more over time.

2. Gain a competitive edge

In a today’s constantly changing world, it can be hard to distinguish your products or services from those of competitors. If your products are only being chosen based on price, you are in a vulnerable position, as a competitor with a lower cost base could easily steal your business. Customer loyalty programs can be a great help here, as they can influence a customer’s buying decision based on factors beyond just cost. According to a 2017 survey by technology services firm Capgemini, 82 percent of customers prefer to buy from a brand where they have a high emotional engagement. So, if you are offering a similar product to your competitors but have a better customer loyalty program in place, you’re more likely to be top-of-mind.

3. Cut your marketing costs

The opinions of your existing customers can be the most compelling form of advertising you can get. In fact, more than 80 percent of customers trust the recommendations of friends and family when making a purchase. One of the major benefits of a customer loyalty program is its ability to boost word-of-mouth recommendations, especially in this digital age, and they are one of the most powerful persuaders when it comes to consumer decision-making. This can also help you retain customers, by enhancing your brand’s reputation and reassuring existing customers that they are in the right place.

4. Generate actionable insights

Constantly evolving what you’re offering your customers is the only way to avoid being overtaken by competitors. The buying behavior of your customer base and their feedback on your products or services should always be the basis for making changes to your offer. Loyalty schemes can allow you to track your customers’ buying patterns and respond to better meet their needs. Building a loyal customer base can also lead to a positive cycle, as these customers tend to generate more useful insight than passing trade. They’re more likely to talk about their experiences, and share posts or reviews about your business or products. Tracking this feedback can help you be confident you are getting key decisions right in all kinds of areas, from product design to pricing.