MENU
Download Report
Add Comment
Twitter Comments
Add Comment
Twitter Comments
What’s next?
Contact
Download the Report
Add Comment
Twitter Comments
Loading tweets...

CREATING A
BUSINESS YOUR
CUSTOMERS LOVE

OPTUS FUTURE OF BUSINESS REPORT 2014

SCROLL DOWN TO START


INTRODUCTION

How do you create a business that customers love? It starts with understanding the importance of delivering an outstanding customer experience.

Customer Experience (CX) is about giving customers a great experience every time they interact with your business.

To see how leading businesses are doing this, Optus Business commissioned research with business and government organisations and customers in early 2014. The sample size and scale of the research makes it one of the largest ever Australia-based customer experience studies.

A SNEAK PEAK

CONTINUE

SURVEYED CUSTOMERS LIKELY TO REMAIN A CUSTOMER
share
95%
39%
After an outstanding experience
After a good experience
SURVEYED CUSTOMERS LIKELY TO REMAIN A CUSTOMER BASED ON OVERALL LEVEL OF EXPERIENCE
share
SURVEYED CUSTOMERS LIKELY TO RECOMMEND A BUSINESS
share
94%
17%
After an outstanding experience
After a good experience
PERCENTAGE OF CUSTOMERS LIKELY TO RECOMMEND A BUSINESS DEPENDING ON THE OVERALL LEVEL OF CUSTOMER EXPERIENCE THEY RECEIVED
share
CUSTOMERS LIKELY TO RECOMMEND TO A FRIEND, FAMILY MEMBER OR COLLEAGUE
share
THE IMPACT OF CUSTOMER EXPERIENCE
share
79%
59%
Surveyed customers acted after a bad experience
Surveyed customers acted after a good experience
WHAT CUSTOMERS HAVE DONE AS A RESULT OF A POOR EXPERIENCE
share
46%
Told a friend, family member or colleague
28%
Called to make a complaint
23%
Researched or considered a competitor’s products and services
13%
Completed a customer feedback survey
13%
Written to make a complaint
13%
Posted online about the experience
10%
Used or switched to a competitor instead
‘HONEYMOON’ PERIOD
share
6-11 Months
is the ‘honeymoon’ period during which customer experience has the greatest influence on a customer’s loyalty and advocacy. Customer experience remains important after 11 months, but businesses may need to work harder to re-engage long-term customers.
DECISION MAKERS AND CUSTOMER EXPERIENCE
share
45%
of surveyed decision-makers understand the impact customer experience has on revenue and profits.
BUSINESSES THAT HAVE AN UNDERSTANDING OF HOW CUSTOMER EXPERIENCE IMPACTS REVENUE AND PROFITABILITY
share
TOP 10 CUSTOMER EXPECTATIONS
share
1
Staff are friendly or polite
2
My needs are met
3
Staff are knowledgeable
4
I am able to interact with a real person
5
I get a quick result
6
I feel valued as a customer
7
I can interact at my convenience
8
It takes me minimum effort
9
Business is honest and transparent
10
I feel listened to
WHAT MAKES AN IDEAL CUSTOMER EXPERIENCE: BUSINESSES’ VIEW
share
HOW BUSINESSES SEE CUSTOMERS’ EXPECTATIONS CHANGING
share
20%
They want more for less, lower prices or better value
12%
Becoming more demanding
11%
Ability to do more via digital channels
10%
Faster turnaround times; wanting things done quicker
Based on spontaneous responses from businesses.
BUSINESSES WITH A DESCRIPTION OF THE IDEAL CUSTOMER EXPERIENCE FOR THEIR CUSTOMERS
share
WATCH OPTUS CASE STUDY VIDEO
share
PROVIDING FLEXIBILITY IN CUSTOMER EXPERIENCE
share
27%
41%
The percentage of surveyed customers who expect a personalised, flexible experience is set to grow significantly over the next 1–2 years.
10 KEY CUSTOMER EXPECTATIONS OVER THE NEXT TWO YEARS
share
EMPLOYEE ASSISTANCE IN CUSTOMER CARE
share
93%
7%  
Surveyed customers preferred assistance
Surveyed customers preferred self service
CUSTOMERS’ PREFERRED LEVEL OF HUMAN CONTACT DURING THE CUSTOMER JOURNEY
share
WATCH BRISBANE CITY COUNCIL CASE STUDY VIDEO
share
I think it’s important for different types of people to have different avenues to be able to enquire, so those who do want the human contact can call up and those who are quite happy to do everything online, they’ve got that option as well.
Customer Experience Executive, Financial Services
TOP 8 AREAS WHERE EXPECTATIONS WERE EXCEEDED FOR OUTSTANDING OR VERY GOOD CUSTOMER EXPERIENCE
share
TOP 8 AREAS WHERE EXPECTATIONS WERE NOT MET FOR TERRIBLE OR VERY POOR CUSTOMER EXPERIENCE
share
87%
I felt valued as a customer
86%
I got a quick result
83%
My needs were met
81%
It took me minimum effort
79%
Staff took initiative to do more for me
76%
I was given consistent information
75%
I felt listened to
73%
Personalised / flexible experience
CUSTOMER EXPERIENCE AND ADVOCACY ARE TOP BUSINESS PRIORITIES
share
45%
Of businesses ranked improving customer experience or advocacy as their #1 or #2 top priority
TOP BUSINESS PRIORITIES
share
23%
Improving efficiency or productivity
21%
Improving customer experience
16%
Increasing overall revenue
15%
Increasing profit
PERCENTAGE OF BUSINESSES FACING KEY CUSTOMER EXPERIENCE CHALLENGES
share
Based on businesses own customer experience rating.
BUSINESSES’ TOP 10 CUSTOMER EXPERIENCE CHALLENGES
share
1
Budget constraints
2
Competing agendas or priorities within the organisation
3
Lack of alignment between departments in delivering customer experience
4
Difficulty changing processes to respond to new customer developments
5
Actioning customer feedback
6
Lack of buy-in or engagement among staff members
7
Capturing structured customer feedback
8
Lack of in-house skills or expertise
9
Lack of clear strategy
10
No clearly defined ideal customer experience
DEPARTMENTS VERY WELL ALIGNED TO DELIVER OUTSTANDING CUSTOMER EXPERIENCE
share
HOW CUSTOMERS RATED THEIR MOST RECENT EXPERIENCE
share
WHICH HIGH-LEVEL CUSTOMER EXPERIENCE INITIATIVES BUSINESSES HAVE IN PLACE
share
BUSINESSES WITH A FORMAL CUSTOMER EXPERIENCE STRATEGY
share
WELL EQUIPPED EMPLOYEES DELIVER OUTSTANDING CUSTOMER EXPERIENCE
share
71%
of surveyed businesses with very well-equipped employees delivered outstanding or very good customer experience.
TOP 5 TELL-TALE SIGNS THAT EMPLOYEES ARE POORLY EQUIPPED
share
59%
Staff couldn’t respond to my enquiry
48%
I was passed around from person to person
38%
I was put on hold for long periods of time
34%
I had to wait while staff members looked for my customer information
27%
Staff had trouble retrieving my information
HOW CUSTOMERS CAN TELL IF EMPLOYEES HAVE THE RIGHT TOOLS
share
It’s important for staff to have a direction that shows how they’re important to the customer, the brand and customer experience – not just plonked in the corner, expected to handle all enquiries and then forgotten about. They need to know what they’re doing is important to the business, that they’re making a difference.
Customer Experience Executive, Financial Services
FULL CHANNEL INTEGRATION
share
49%
1%  
Businesses delivering outstanding experience have fully integrated channels
Businesses delivering average experience have fully integrated channels
CUSTOMERS’ EXPECTATIONS OF CONSISTENT SERVICE A FULL CHANNEL INTEGRATION CROSS CHANNELS IN 1-2 YEARS
share
THE KEY CHALLENGES FOR BUSINESSES IN INTEGRATING CHANNELS
share
60%
Cost
49%
Technology integration issues
47%
Staff investment or training required
36%
Legacy systems
35%
Process and policy issues
32%
Organisational culture
29%
Organisational or management structure
29%
Changing customer expectations
17%
Cannot demonstrate return on investment
CHANNEL CONSISTENCY EXPECTATIONS
share
39%
51%
The percentage of surveyed customers who found the overall level of service to be consistent across channels, compared to those who expect this in the next 1–2 years.
BUSINESSES’ CHANNEL INTEGRATION IS ABOUT TO INCREASE DRAMATICALLY
share
WATCH AUSTRALIAN INSTITUTE OF MANAGEMENT CASE STUDY VIDEO
share
HOW BUSINESSES MEASURE THE SUCCESS OF THEIR CUSTOMER EXPERIENCE INITIATIVES
share
HOW BUSINESSES ARE USING BIG DATA TO IMPROVE CUSTOMER EXPERIENCE
share
CUSTOMER FEEDBACK PROGRAMS
share
60%
of surveyed businesses have a feedback program
24%
have difficulty capturing the feedback
25%
have challenges actioning the feedback
A customer feedback program that provides actionable insights
share
TOP 5 BUSINESS PRIORITIES DRIVING TECHNOLOGY INVESTMENTS
share
61%
Improving IT applications and infrastructure
57%
Reducing business costs
56%
Improving productivity
51%
Improving customer experience
45%
Attracting new customers
BUSINESSES WHERE CUSTOMER EXPERIENCE HAS A MAJOR INFLUENCE ON TECHNOLOGY INVESTMENTS
share
We live in the era of IT and you need to have better systems and services than your competitors. Your IT platform can actually give you a significant edge.
HR Executive, Transport and Logistics
WHICH CHANNELS BUSINESSES ARE INTENDING TO INVEST IN 1–2 YEARS
share
73%
Website
51%
Social media
48%
Mobile app or website
39%
Contact centre
34%
Bricks and mortar
THE DIGITAL TOOLS BUSINESSES ARE OFFERING AND INVESTING IN
share
DIGITAL TOOLS USAGE
share
37%
of customers haven’t used a businesses’ digital tools in the past three months.
PERCENTAGE OF DIGITAL TOOLS THAT BUSINESSES OFFER AND THAT CUSTOMERS USE
share
Align technology and customer experience strategies
Leading businesses make technology investments based on a customer experience vision, strategy and plan.
Focus on key human services
Don’t underestimate the importance of personal channels such as contact centres, and remember that customers value friendly, knowledgeable employees.
Empower the workforce with the right tools
Provide employees with the information systems, communications tools, processes and training they need to help customers.
Fully integrate channels and systems
Fully integrate channels to help ensure customers receive consistently good service.
These and other important initiatives should combine to provide a continuous cycle of improvement, from customer feedback to all relevant employees and back to customers again.
who we surveyed
550business decision-makers
5000customers
Banking, Finance and Insurance
Education and Training
Government
Health and Social Assistance
Manufacturing
Media*
Property and Professional Services
Retail
Telecommunications*
Transport and Logistics
who we spoke to
IT, Customer Experience, Marketing, Finance and Human Resources Executives.
* Customers only surveyed
For further Optus Future of Business insights and related content please get in touch.
1800 555 937
WEBSITE
BLOG
Optus Future of Business 2014
Go to Top
About
Contact
Copyright
Privacy Policy