Category Archives: Customer Engagement
This post continues the conversation started in the earlier post which disclosed the UK’s Top 10 Customer Experience brands and provided an analysis of the Top 100 brands by industry.
Nunwood’s Six Pillars of Customer Experience
The folks at Nunwood claim “we have used advanced text analytic techniques to derive and then statistically validate the six most important factors that customers talk about when it comes to great experiences”. What are these factors?
Personalisation: using individualised attention to drive emotional engagement
Time & Effort: valuing the customers time – minimising the effort and creating frictionless processes
Expectations: managing, meeting and exceeding customer expectations
Integrity: being trustworthy and engendering trust
Resolution: turning a poor customer experience into a great one
Empathy: achieving an understanding of the customer’s circumstances to drive deep rapport
What can we learn about these six pillars of Customer Experience by looking at the Top 10 brands?
In their report Nunwood list the top brands by each of the Customer Experience pillars. So:
- Amazon sits at the very top for the Personalisation and Time & Effort pillars;
- Virgin Atlantic is the leader in the Expectations pillar;
- John Lewis leads when it comes to the Integrity pillar; and
- QVC leads in both the Resolution and Empathy pillars.
What is not easy to do, from the report, is to see at one glance what each of the Top 10 brands does in terms of these six pillars. So I have taken some time to piece that together for you and here it is:
In the next and last post, I will share with you details of the “brands that have cracked the code” and are making major leaps forward – according to Nunwood. And in particular I will single out one brand that shows up for as being truly innovative in its business model, in customer engagement, in being social and making online community work, in putting its customers truly at the centre of its way of doing business. I also happen to be a customer of this brand.
I have mixed relationship with corporate technology given my first hand experience of it. It is true that technology is essential and it brings many benefits. It is also true that most corporate technology is complex and expensive to set-up and operate. Last, and perhaps most important is that it does not show up as being usable nor useful to the people on the front lines that have to use the technology. Put differently, from the user perspective the disadvantages outweigh the benefits. A great example of such a technology is enterprise CRM systems. Can Vizolution prove me wrong?
I met up with Marcio Rodrigues, Customer Propositions Director, at Vizolution to learn about this technology. Here is what I learned:
- Vizolution technology is being used by three of the top five UK banks and two of the top 5 insurance companies;
- According to customer surveys, customers (95% of them) like the experience that is generated through Vizolution;
- By using this technology financial services companies have increased sales conversions anywhere from 14% (mortgage conversion) to 93% (life insurance and critical illness); and
- The folks in compliance love Vizolution as it sends/receives files using 128 bit encryption, allows complex issues to be explained properly, and enables a consistent sales process.
Ok, the banks and insurance companies like it because it improves sales conversion and improves compliance. What I was interested in was the customer. Why do customers like it? What does Vizolution bring to the customer experience? This is what I learned:
- By being able to see what the sales agent is talking about customers feel more engaged in the process;
- The on screen visuals make it easier for the customer to understand the financial product being discussed; and
- The process of signing-up for a financial product is so much easier and quicker – there is no waiting for the paperwork to arrive by post, reviewing and signing it, waiting for approval.
By now you might be wondering what is Vizolution and what does it do. As I understand it, Vizolution:
- Is patent pending software that allows businesses to engage their customers in sales conversations through an instant, easy, screen sharing session via the internet;
- Is simple and quick – with just one click the sales agent can initiate a Vizolution session and it is just as easy for the customer; and
- bypasses the typical issues in installing screen sharing software locally and navigating around-through corporate firewalls.
My last question to Marcio was on costs: purchasing, installation, and use. What I can tell you is that the pricing showed up for me as being modest even cheap given the difference that this technology has made to sales conversion rates. At this point I could not help being a ‘strategic consultant’ and so I advised Marcio and his team to rethink the pricing!
If you want to learn more about Vizolution then I suggest that you contact Marcio. His email address is firstname.lastname@example.org
If you have used this software solution either as a manager, a sales agent or a customer then I’d love to hear from you. Please leave a comment.
Please note that I am taking a holiday over August and as such I do not expect to be writing any posts until September. I thank you for reading and hope you make August a great month for yourself and all the people you ‘touch’.
Disclosure: I am happy to write about Vizolution as it occurs to me that this is a simple useful technology. I am not being paid, in any way, for writing this post. Please note that I am not promoting Vizolution and with every technology I encourage you to do your research before you buy.