Customer Experience & Retention Strategies

Fueling your customer growth mechanism

Success through “customer-first” strategy

In today’s business landscape, marketing executives are shifting away from price-based competition and short-term transactions. Instead, they are placing greater emphasis on building lasting customer partnerships, delivering exceptional experiences, and offering value-added services. With intensifying competition in various sectors, prioritizing the “customer-first” approach emerges as a critical success factor and a key differentiator that businesses must adopt to drive sustainable growth and revenue.

Moving beyond traditional customer service, Customer Experience Management (CXM) demands a shift in focus and an integrated approach centered on customer-centricity. To achieve success in customer experience, businesses begin with a well-defined vision, mission, and strategy, underpinned by a strong commitment to serving their customers’ best interests.

An effectively executed customer experience strategy not only boosts customer satisfaction but also maximizes customer lifetime value, leading to increased revenue, reduced churn rates, and setting businesses apart from their competitors.

By embedding customer experience practices throughout the organization, businesses can maintain a positive reputation, foster customer loyalty, and position themselves as market leaders.

According to Forbes, customers tell an average of 9 people about a positive experience with a brand, but they tell 16 people about a negative experience.

Why INDEVCO Consultancy Customer Experience & Retention Strategies?

With the utilization of our strategic customer experience framework, INDEVCO Consultancy assists businesses in establishing a customer experience (CX) ecosystem focused on delivering value, setting them apart from competitors. We start by understanding your customers and their specific segments, actively listening to their requirements, and creating tailored experiences to guide you in gaining customer insights and ultimately achieving favorable bottom-line outcomes.

How We Can Help You

To develop an effective customer experience management strategy, businesses must forge an emotional bond with their customers and possess a deep understanding of their identity. This entails recognizing their segment, empathizing with their challenges and sources of frustration, understanding their requirements, and gaining insights into their perceptions of our products and services.

We assist our clients in designing customer improvement strategies aimed at delighting their customers and driving positive bottom-line outcomes. By aligning with customers’ pace, we narrow the divide between companies and their customers’ needs, enhancing customer engagement and ensuring the creation of value.

Customer Experience Strategy

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Craft a comprehensive and cohesive strategy for enhancing the customer experience. This strategy should encompass all customer interactions and be in harmony with the organization’s overarching goals. Clearly outline your desired outcomes, ambitions, goals, and vision for customer experience, and then chart a path from the current state to these goals. Recognize discrepancies between the current “as is” and desired “to be” states, chart a roadmap for advancement, and determine priority objectives. Create inventive approaches aimed at exceeding customer expectations, including designing customer experience solutions, defining customer personas, mapping customer journeys, establishing a Voice of Customer (VOC) program and measurement system, effecting process changes, and embracing digital transformation.

Voice of Customer

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Gather and assess customer/citizen data and input to furnish your organization with pertinent insights that drive decision-making based on outcomes. This approach enhances the ability to create meaningful impacts and foster stronger customer relationships.

Customer Advisory Boards

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In the process of identifying strategic clients, we assist enterprises in intensifying and fortifying their connections with key accounts and high-level executive customers. This is achieved through the establishment of customer advisory boards, designed to uphold the company’s market position, enhance customer engagement and understanding, and ensure the progression and evolution of the business.

Customer Experience Assessment

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A Customer Experience (CX) assessment is essential for organizations to evaluate and enhance their customer experience quality by collecting data and analyzing customer feedback. This effort is further bolstered through partnerships with the prestigious institutes International Customer Experience Institute (ICXI) and Customer Institute (CI).

ICXI is a global organization improving customer experiences and enabling excellence in customer service through ICXS 2019 and IDCXS 2022 standards, partnering with British Standards Institution (BSI) for audits and certifications.

CI is a global nonprofit organization dedicated to promoting customer-centric practices for corporate growth. It achieves this by identifying best practices and providing assessments and certifications in customer centricity.
The assessment helps organizations understand their customer experience, enabling them to plan improvements for increased customer satisfaction and loyalty.

Customer-Centric Culture, Organizational Adoption & Accountability

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Develop a governance framework with the purpose of facilitating the organization-wide adoption of the customer experience strategy and approach. Involve internal stakeholders, which includes employees, through initiatives such as CX training, fostering employee engagement, instigating cultural shifts. Shift the organizational culture away from a narrow process and product centric perspective to one that prioritizes and embodies customer experience and contentment.

Customer Retention Strategy & Migration Across Pyramid

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We specialize in helping businesses establish effective customer retention strategies, utilizing an interdisciplinary approach to refine customer profiles and segmentation for targeted value proposition delivery. Our methodology, centered on meticulous customer master data management, empowers companies to address customer needs, seize cross-selling and up-selling opportunities, and utilize comprehensive customer insights. We create a customer-scoring model to categorize customers into tiers, such as Platinum, Gold, Silver, and Bronze enhancing conversions and identifying key areas for attention. Beyond improving the customer journey, we also focus on identifying and re-engaging “lost” or at-risk customers to mitigate churn rates and ensure sustained interest and involvement concisely.

Metrics and ROI Models

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Convert customer feedback into quantifiable metrics and other metrics for monitoring both customer experience performance and the return on investment from various initiatives. Execute and oversee the process of change, closely track essential metrics and key performance indicators (KPIs), and strive for ongoing enhancement.

Product Experience – Concept Testing

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By pinpointing enhancements for the product and potential risks in the market, we guarantee that each concern is resolved prior to launch. You will have the capacity to gauge the efficiency of distinct concept elements, customer engagement with the concept, and your product’s relative standing against its competitors. This evaluation will also encompass an appraisal of its perceived value within the market.

Product Experience – Product Lifecycle Feedback

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Establishing an ongoing feedback loop contributes to the progressive refinement of a product, aligning it more closely with market needs and securing its financial viability. Our comprehensive approach encompasses features, functionality, and messaging, providing you with a well-rounded comprehension of the necessary evolution for your product.

Brand Experience – Omni-Point Experience

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Turning each of your touchpoints into a seamless journey for your customers, devoid of obstacles. This comprises User Experience, Examination of Touchpoints, and Attribution Modeling.