Expansion into a new side business to create seamless customer experience has become the new normal for incremental revenue generation and customer experience boost. These efforts at the same time increased pressure on CRM systems and internal management
Leading the Way
As the online vs. offline war intensifies, there is little doubt that omnichannel leaders will survive; but to do so, successful leaders need to answer various questions, such as:
- What are the drivers of product and basket margin and in which categories is the margin made (or lost)?
- How do online marketing initiatives affect offline behavior (and vice-versa), what is the impact of it?
- Looking at your online competitors, do you satisfy your offline customers? What are the drivers of in-store customers?
- How successful are you in monitoring the behaviors of your online customers and taking lessons for your stores?
- Do you oversee a holistic view of data and enrich it with different (internal and external) data sources and how do you integrate it into your daily operations, e.q. demand forecasting?
- Which technologies should you employ within stores?
Initiation of customer experience driven channel tactics such as mobile check out, click & collect; assistant services and monitoring & targeting starts with a well-defined strategy.
Customer Experience Assessment & Design
We apply our own customer centricity framework to establish a sustainable customer centric management structure where we ask critical questions at each building block to define the customer centricity path of companies, such as:
- What Omni-channel Customer Experience should mean for us
- What capabilities we need build to seamless customer experience
- How is the perceived value of our products/services and customer experience, compared to the prices we charge
- Do we document and apply processes to deliver best customer experience and maximize growth
Digital Loyalty Design
Velox Partners defines strategic alternatives for companies to explore what – how – when questions for successful launch and implementation of loyalty programmes. We help companies define the following critical elements of their loyalty schemes:
- Considering what type of loyalty benefits your customers would care and affiliate
- Focus on superior customer experience for high-end and affluent customers
- Developing digital experience and loyalty strategy
- Program design and definition of business requirements for loyalty platform
- Defining the organizational and governance requirements for the launch and management of the program
Customer Value Uplift
To achieve a successful customer value management, tangible actions should be established for all stages of lifecycle management and each initiative should reflect a business objective, such as:
- How can I increase customer profitability
- How much should I invest into acquiring and retaining an individual customer
- How should I address customers in the most effective way
- How can I reduce risk of servicing a customer (product, transaction)
- What is the cost-to-serve for each of my customers (products, transactions)
- What products and services should I offer to which customer groups
- Utilization of data with relevant customer offers and revenue generation
Application Areas
- Chief Customer Officer
- Customer Experience Directorate
- Holdings and groups
- Business units such as marketing, sales and customer service