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Customer Experience Management: Driving Loyalty & Profitability
Insights Report #2
Now Available to TM Forum Members
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Seeking to increase profitability, communications service providers (CSPs) are increasingly turning to initiatives in customer experience to differentiate themselves. The choice to do so is not accidental, as CSPs are realizing the connection between customer experience and profitability. In fact, for many companies, the clearest path to profitability is through customer retention and maximization of lifetime value. Such goals can be accomplished by driving an “appropriate” experience, which means aligning goals with customer expectations so that loyalty builds, as does increases in profitability.
The challenge is the fact that virtually every customer touch point—whether directly or indirectly linked to service providers and their partners—contributes to customer perception, satisfaction, loyalty, and ultimately profitability. Managing so many touch points makes it challenging to assure the “appropriate” experience across a variety of delivery environments, services, and interaction channels.
In this TM Forum report, “Customer Experience Management: Driving Loyalty & Profitability,” we strive to accurately depict the relevant issues and priorities developing in organizations striving to become more customer-focused and profitable in the near and mid-term.
| Sections | The report will comprise six sections:
Section 1: Understanding the value of customer experience
This section contends that CSPs must shun the “one-size-fits-all,” altruistic approach of the past, and view improvements in customer experience as a profitable business strategy. It explores how leading companies are approaching customer experience to improve their bottom line, and explains the relationship among customer experience, customer loyalty and increased profitability. It also includes a detailed discussion of Customer Lifetime Value (CLV) as an important driver of customer experience strategies.
Section 2: Customer experience in communications and the broader digital services value chain
The heart of Section 2 is a discussion of six key areas in which service providers can differentiate themselves through customer experience—product and service portfolio, marketing and sales, service quality, customer support, billing and charging, and brand. This section outlines key aspects of each of these areas and how systems and processes can be leveraged to improve them. It also introduces several emerging capabilities, and their potential role in improving customer experience. This section also looks briefly at excellence in data management and analytics deployment—both critical factors to improving customer experience.
Section 3: Service providers discuss actions and plans for addressing customer experience
Section 3 analyzes the results of 20 interviews with executives in leading service provider organizations across the world. It discusses their challenges, current efforts and plans, and identifies their view on critical success factors.
Section 4: Conclusions & Recommendations
This section contains a series of recommendations for service providers thinking about and building customer experience initiatives. The recommendations include components of strategy, program management, data management and standards focus.
Section 5: Collaboration: TM Forum’s Managing Customer Experience Program
To match service quality and customer expectations for mobile TV, IPTV, and VoIP, service providers must go beyond traditional metrics related to networks, applications and IT infrastructure and onto a phased approach to addressing both end-to-end view of the customer lifecycle and the value chain. This section talks of key deliverables from TM Forum’s Managing Customer Experience Program that help service providers and their partners build strategy and utilize tools and frameworks that ultimately expedite the realization of customer experience-related goals.
Section 6: Viewpoints on Customer Experience Management From Report Sponsors
This section offers perspectives on customer experience management from the report’s sponsors. | |
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