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Fueling your customer growth mechanism
Nowadays, marketing executives are shifting away from competing on prices and short-term transactional approaches, and instead focus more on establishing long-lasting partnerships with their customers and providing them with exceptional experiences and value-added services. With competition across markets and industries becoming tougher, “customer-first” emerges as the most important success factor and key differentiator that businesses should adopt to drive revenue and sustainable growth.
Going beyond customer service, Customer Experience Management (CXM) requires a change in focus and an integrated approach customer centricity approach. To achieve customer experience success, businesses begin with a clear vision, mission, and strategy along with a strong commitment to customers’ best interests.
A well-executed customer experience strategy will not only increase customer satisfaction, but also maximize customer lifetime value and will consequently drive revenue, decrease churn rate, and set businesses apart from their competition.
With customer experience practices cascaded down the organization, businesses will be able to maintain and manage a positive reputation in order to increase customer loyalty and position themselves as leaders in the market.
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.
Using our strategic customer experience framework, we, at INDEVCO Consultancy help businesses setup a value-driven customer experience (CX) ecosystem that differentiates them from their competition. From knowing your customers and what segment they belong to, through listening to their needs and designing their optimal experiences, we guide your way to generate customer insights and achieve positive bottom line results.
To create a great customer experience management strategy, businesses need to establish an emotional connection with their customers and have a keen understanding of who they are. From knowing what segment they belong to, all the way through acknowledging their pains and what frustrates them, know their needs, as well as their perceptions about our products and services.
We help our clients design their customer improvement strategies to delight their customers and achieve bottom line results. By moving at the speed of customers, we bridge the gap between companies and their customer needs to enhance customer engagement and ensure value creation.
We help businesses design the most optimal customer experience management (CXM) strategy in line with their defined purpose and their market positioning. We recommend the right foundation in place to engage their executive team, help them listen to their customers, assess their key customer-focused metrics, and accordingly develop and manage a tailored CX roadmap with clear objectives and milestones.
As we pave the way forward towards a CXM strategy, we use a multidisciplinary approach to help businesses know their customer profiles and better segment them so that they can target their offering with relevant and timely value propositions. Coupled with accurate customer master data management practices, our approach helps companies better respond to their customer needs, capture cross-selling / up-selling opportunities, as well as ensure their strategy is underpinned by customer insights and analytics.
Measuring the customer experience is the key driver for companies to shift to customer-centric organizations. We develop a customized Voice of Customer (VoC) program that enables businesses to engage with their customers and listen to their pain points in a consistent and systematic way using Customer Satisfaction Score (CSAT) & Net Promoter Score (NPS). As a result, we help identify business challenges and set the path forward to providing value-based solutions to customer needs, as well as complex business problems.
In addition to helping businesses positively impact the customer experience, we also help them understand their customer life stages and specifically shed the light on “lost and at risk” customers in order to prevent high churn rates and accordingly, develop proactive win back programs to retain customers, and keep them engaged and interested.
As we define strategic customers, we help businesses deepen and strengthen their relationships with top accounts and c-level customers by creating customer advisory boards that aim at maintaining the company’s positioning and fueling its customer engagement and insights, as well as guaranteeing business growth and transformation.
To enable businesses to better shift to a customer-first mindset, we design targeted guidance programs, trainings, and workshops aiming at engaging executives, as well as keeping them abreast of the latest CX trends and projections.
We collaborate with businesses to develop a customer scoring model that identifies how strategic customers are and therefore distribute them across the Pyramid (i.e. Platinum, Gold, Silver and Bronze customers) to increase conversions, as well as help you identify your main area of focus. Furthermore, we help businesses set up retention strategies accordingly to up-ward customer migration plans.
INDEVCO Wins 2020 ‘Customer Experience Professional of the Year’ Gold Award
6 Characteristics of Customer-Centric Organizations