Improving your customers’ journey drives superior customer experience and is a key step to your organization becoming more in tune with your customers’ expectations and market needs.
“Journey orchestration platforms enable real-time journey adjustments. In addition to analyzing customer behaviors across touchpoints, these platforms adjust to customer behavior in near real time using existing predictive and rules-based delivery models to make decisions that improve the journey flow and drive desirable outcomes.” (Forrester)
Journey Orchestration is a key enabler in joining up disconnected customer touchpoints to deliver superior customer experience. Consumers experience brands through end-to-end journeys, not just touchpoints.
There are tangible business and consumer benefits to adopting journey orchestration as a practice in your organization, including:
Maximizing satisfaction with customer journeys has the potential to not only increase customer satisfaction by 20%, but to also lift revenue by up to 15%, while lowering the cost of serving customers by as much as 20%. (McKinsey & Company)
Nearly 80% of American consumers say that speed, convenience, knowledgeable help and friendly service are the most important elements of a positive customer experience. (PwC)
The reward for getting it right: The price premium for quality CX among consumers worldwide is up to 16% for products and services. (PwC)
The dangers of ignoring CX issues: A customer is 4x more likely to buy from a competitor if the problem is service-related, versus price or product-related (Bain & Company)
Improving customer experience with journey orchestration is an iterative process that is most effective when there is a balanced focus on customer and execution, facilitated by practices and technology in:
Adopting an iterative approach enables your organization to benefit from shorter time-to-value as you develop a deeper knowledge into what makes a great experience for each customer.
Alterian’s unique capability of customer analytics and orchestration technology gives organizations a competitive advantage by enhancing customer value and experience.
180% increase in digital channel usage to self-serve by anticipating the consumers’ service needs and intent in real-time.
The ability to personalize product and service recommendations at contract renewal reduced churn by 40%.
Positive social sentiment scores for the specific use case of resolving issues with transactions improved by 5-10 percentage points.
By understanding customers better across channels, one client has seen a decline in repeat contacts to resolve account issues, specifically identifying a 10% decrease in the number of call center interactions within 48 hours of a customer’s initial outreach.
Bain & Company [Online]
Available at: https://www.bain.com/insights/topics/loyalty
Forrester, Now Tech: Journey Management, Q4 2018, s.l.: s.n.
McKinsey & Company [Online]
Available at: https://www.mckinsey.com/business-functions/operations/our-insights/the-ceo-guide-to-customer-experience
Available at: https://www.pwc.com/future-of-cx