Customer Experience Management Overview

The aim of Customer Experience Management is to strategically manage customers’ interactions with your company in a way that ensures customer retention, growth, and profitability.

Our Customer Experience Management offering has two components: (a) Understanding Voice of the Customer (VOC) and (b) Customer Value Analysis (CVA).

Our approach to Customer Experience Management integrates advanced survey research and statistical analysis techniques to help you understand the key drivers of customer satisfaction that will improve your company’s competitive position.

Voice of the Customer (VOC)

The “Voice of the Customer” refers to understanding the expressed and latent needs that customers have that your product or service can satisfy. Voice of the Customer data helps to identify the Critical-to-Quality elements (CTQs) that need to be addressed in process improvement efforts or through product or process design.

STAT-A-MATRIX Voice of the Customer (VOC) consulting and training can help your organization:

• Segment customers who may have different needs.
• Determine needs that are drivers of customer satisfaction in each segment.
• Extract needs that customers expect you to meet but which remain unstated.
• Identify the needs that can be strategic market differentiators.
• Decide products and services to offer to existing or new markets.
• Specify critical features and performance requirements for products and services.
• Focus improvement efforts for existing products, services, and processes on areas that have the greatest impact on your customers.

Customer Value Analysis (CVA)

“Customer Value Analysis” refers to the methods and tools for assessing how your customers perceive you relative to your competitors. Making sure that you are providing products and services that meet customer needs is only one part of the picture. In the market, all your competitors are trying to do the same thing. Customers will not select you just because you meet their needs. Research shows that customers compare products and services offered by different companies in terms of the value they provide and select those that deliver the highest perceived value. To sustain and grow your market share, it is necessary to understand your customers’ thought process while they are making their purchasing decision and while they are using your products and services.

Value Map

Our Customer Value Analysis (CVA) offering can help your organization:

• Sample the market, not just your company’s own customers.
• Create a “value map” that shows how your company is perceived by customers compared to your competitors.
• Identify the critical performance and price “levers” that your company needs to pull to improve your competitive value.
• Quantitatively estimate the impact of performance or price improvements on financial results.
• Develop strategic plans for growth and profitability.
• Align Voice of the Customer surveys, assessment of key dimensions of the customer experience, and the metrics of processes that deliver the experience to create a surveillance system that enables strategic decision making.
• Sample the market, not just your company’s own customers to asses your competitive position and target strategic areas for improvement.
• Select the most appropriate techniques for process improvement in the targeted areas.
• Assess the effectiveness of improvement projects using survey results and, where possible, linkage to financial results.

VOC consulting services and training programs can be customized to meet your specific requirements and to integrate with your organization’s business objectives and existing product or service development methodologies.