ClickFox's Customer Experience Analytics Blog

Register NOW!

Understand your Customers as Individuals, Not Individual Transactions – Featuring Bruce Temkin

Thursday, March 18^th 1:00 pm EST

Forrester analyst Bruce Temkin estimates that customer experience quality could cause swings of $242 million for a large bank and $184 million for a large retailer, but also notes that one of the biggest challenges to success is a lack of cooperation across the organization. Chances are, you already know how customers interact  in stores, on web sites or with call centers, but looking at these interactions independently of each other creates huge ‘blind spots’ resulting in increased operations costs and customer churn. Connecting the dots between service channels delivers a complete picture of customer experience, not just several individual snapshots, for true customer-centric improvement strategies.

Join Bruce Temkin and ClickFox CMO Anna Convery to learn how best-in-class companies are applying a cross-channel approach to customer experience to:

• visualize customer experience across all retail, web, voice self service, and live agent interactions
• apply the appropriate mix of highly efficient, lower cost customer service options
• build a behavioral model for deep analysis into customer paths, trends, and preferences
• understand the direct impact of experiences on CSAT, churn and future buying behavior
• predict and proactively respond to potential churn with highly effective retention strategies

Attendees will hear several powerful case studies illustrating how cross-channel customer experience analytics is delivering multi-million dollar insights and enabling organizations to finally understand their customers as individuals rather than a series of individual transactions.

Register NOW!

You can also watch a replay of our previous webinar with Bruce Temkin, Finding Your Competitive Advantage with Customer Experience Analytics, here.

ClickFox is proud to sponsor the 22nd annual ‘On Wings of Hope’ gala and the continuing efforts of the Hope Heart Institute. The live auction event raises money for cardiovascular research and education to make heart disease – America’s No. 1 cause of death – more treatable, beatable, and preventable. The gala will take place on Feb. 20th at 6pm PST in Seattle, WA. For complete details click here.

To read more about how ClickFox is providing continuing support to national and local community and charitable organizations, click here.

ClickFox announced today that it has signed a multi-year contract with a leading Fortune 500 energy company to analyze several million monthly customer interactions across a variety of service channels. The organization will use ClickFox CEA to track and analyze customer behavior across their web site, interactive voice response (IVR) system and call center (including agent desktop, call routing and electronic dialogue) to get a complete picture of the full experience from the customer’s point of view.

Says Marco Pacelli, ClickFox CEO:

“This new relationship further deepens ClickFox’s domain expertise in the energy industry and adds to an already impressive roster of Fortune 500 utility companies. With the addition of this customer, we now have insight into customer behavior for nearly 40 million energy consumers in the US, enabling us to focus on the most critical areas impacting their experiences and develop industry best practices for cross-channel customer experience excellence.”

Read the full press release here.

You can also read a Utility Industry Case Study or our Utility Industry Brief.

We’ve added a few links on the right hand side of the blog and wanted to point them out to our readers. They are in alphabetical order and here’s a short description of each one:

Customer Experience Matrix – Written by David Raab, a consultant specializing in marketing technology and analysis, this blog presents information about technologies and business issues that help your organization make the most of every customer interaction.

Customer Experience Matters – Written by Bruce Temkin, Vice President & Principal Analyst at Forrester Research, this blog focuses on customer experience and is Bruce’s personal blog and not associated with his employer, although it does reference much of his research.

Customers Rock! – Written by Becky Carroll, long-time customer advocate and someone who is passionate about social media, marketing, and the customer experience, this blog focuses on customers, their experiences, and how businesses can make sure their customer experiences rock!

CustomerThink – Written by several contributing authors, CustomerThink is a global online community of business leaders striving to create profitable customer-centric enterprises. Their main areas of coverage are Customer Relationship Management, Customer Experience Management and Social Business.

These are just a few of the many blogs that focus on the customer experience. Would you like to be included in our blogroll? Do you know of another terrific blog that we should be aware of? Please let us know in the comments.

And in case you missed it, you should view the replay of our webinar with Bruce Temkin: Finding Your Competitive Advantage Using Customer Experience Analytics.

Last week at Amdocs’ Partner Sales Organization annual partner event in Las Vegas, ClickFox was recognized as ‘Emerging Partner of the Year’. As a strategic partner of Amdocs for over a year, ClickFox offers the only true cross-channel software solution on the market, enabling unparalleled visibility into customer experience for improved operational efficiency, customer satisfaction and customer retention. Says Marco Pacelli, ClickFox CEO:

“ClickFox is honored to be recognized by Amdocs as an emerging partner. We look forward to expanding our reach into the marketplace as one of the only combined solutions that delivers insight into today’s complete, end-to-end customer experience.”

Read the full press release here.

Have you had a chance to check out our new Customer Experience ROI Calculator yet? It’s a truly unique ROI tool and many people have tried it out so far with a lot of eye-opening results. I’ve decided to put together a few posts with examples of using the calculator, based on fictitious examples of large, medium and small companies. Today we’ll tackle the large company example. First, I’d like you to take a quick look at the introduction video (click here if reading through RSS or email):

We’re going to look at a company that currently has 10 million customers and is growing at an annual rate of 5%. By leaving all the defaults in place we see that this company has 300 million customer interactions per year. These interactions are through the phone channel (IVR and Agent), Web and Retail. With a 5% increase in self service rates and industry average costs of $5 for a live agent call, $.50 for self service IVR, $.05 for a web session and $20 for a retail visit – we come to almost $1B in cost savings over 5 years. But let’s break this down a little and see what happens in a few scenarios.

Scenario 1: Let’s assume that the company in question is in the healthcare industry and has a much higher live agent cost per call, say $20. We’ll also reduce the number of retail visits to zero and the number of web sessions to 5. We’re going to keep our average number of calls per customer to 8 per year and see what happens. Now the 5 year savings have increased to almost $2.2B over 5 years. But the annual growth target should be lower so we will change it to 2% and we’ll lower the current self service rate to 40%. Even with those changes we’re still looking at a little over $2B in cost savings over 5 years.

Scenario 2: Now we’re going to look at a financial institution that has a robust website and a highly effective self service IVR system. Customers call for various reasons, from ordering new checks or checking an account balance (that can both be easily accomplished in self service) to disputing a charge, which may require speaking to a live agent. I’ve increased the number of calls to 12 per year and number of web sessions to 24. I’ve also increased the self service rate to 75% but reduced the average annual improvement in self service and the annual growth rate of the company to 2%. Even with these reduced improvement levels this company would be able to realize over $1.1B in costs over 5 years.

Scenario 3: This time we’ll look at what happens to a cellular provider who only allows customers to get to an agent after an extremely elaborate IVR. Customers still get through at a very high rate of 70% and they call in 20 times per year. Since these are fairly short calls, each of the company’s live agents is able to handle 35 calls per day. We know that many of these calls can be self-served so we’ll leave the annual self-service improvement level at 5%. At these rates this company will have a slow start and will only realize a little over $400K in costs savings during the first year. But over the course of 5 years that will grow to over $1.4B in total savings.

Do you want to find out how your company can realize these kinds of savings with ClickFox’s Customer Experience Analytics solution? Check out our free Customer Experience ROI Calculator and customize it to your needs. You might also want to read our CEA White Paper to get a better understanding of how it all works.

Also, you can find several industry specific case studies in our download library.

Anna Convery, ClickFox CMO, will speak at the Technology Association of Georgia’s ‘State of CRM’ event, an annual gathering of technology leaders focused the customer relationship management (CRM) industry. More than 60 senior CRM executives will be attending the State of CRM Breakfast, which will take place Thursday, January 14, 2010, from 7:30 am to 9:00 am at Oracle Corporation, 1100 Abernathy Rd., Suite 1120, Atlanta, GA 30328). For more information, visit: www.tagonline.org.

Every January the TAG CRM Society hosts a panel to discuss the newest trends in the industry. This year, the theme is centered around Gartner’s Top 10 Strategic Technologies in 2010, five of which are relevant to the CRM industry: (1) Cloud Computing, (2) Advanced Analytics (3) IT for Green, (4) Social Computing and (5) Mobile Applications.

Read more about the event here.

We published our third Industry Brief today focused on the utility industry. One of the biggest challenges utility executives face is changing the utility culture to be more flexible and customer focused as they strive to implement current trends in customer service and compete in an environment characterized by volatile market conditions regulation and de-regulation, and unexpected seasonal and event-driven peaks in volume.

ClickFox has been helping utility companies overcome these challenges in several ways. Read more about Customer Experience Analytics in Utilities to see how.

Also, don’t forget to try out our free interactive Customer Experience ROI Calculator.

“The ClickFox Experience,” our quarterly newsletter was sent out earlier today and contains information about the following items:

• Latest ClickFox News
• ClickFox’s Webinar Series
• Did You Know?
• Upcoming Events
• Customer Experience ROI Calculator
• Free Downloads

If you aren’t subscribed to our newsletter, just enter your email in the window at the top right of our website.

ClickFox today released a free interactive Customer Experience ROI Calculator and we invite everyone to try it out. Focused mostly on operational efficiency, this real world calculator was designed based on previous engagements with leading, world-class organizations across several industries. These companies have already realized millions of dollars in cost savings by identifying ways to serve their customers more efficiently across different interaction channels.

We tried to keep it as simple as possible and all you need to do to use the ROI calculator is enter the number of customers your company serves. The tool then calculates your potential ROI using default data gathered from ClickFox’s growing repository representing billions of complex customer interactions. You can then play around with many optional parameter ranging from cost per interaction and channel-to-channel transfer rates, to specific measurements such as annual self-service containment improvement goals.

There’s also a quick instructional video to help you get started.

When you’re done, you’ll be able to download a customized ROI Report, which includes graphs showing potential operations savings over a 5-year period. The report provides details on specific areas of impact that have been identified as having the most significant and immediate effect on an organization’s bottom line. This also includes real-world examples of customers who have achieved huge returns using CEA.

“ClickFox’s calculator is extremely useful for demonstrating the tangible financial benefits of cross-channel customer experience analytics,” said Marco Pacelli, chief executive officer of ClickFox. “The calculator was built not just for customer experience decision makers, but also executives in finance, sales and marketing, product development and more, who need to understand the impact that customer experience has on their departments and the overall business.”

The ROI Calculator is available as a free tool at http://www.clickfox.com/resources/roi-calculator.