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Don’t Let Another Day Go By Without the Power of CEMMethod v15 – Transform Your Customer Experiences FOREVER!

Choosing the best customer experience, customer journey management and process courses with professional qualifications can be a challenge. Read these testimonials from hundreds of clients and they will make your mind up.

Proven across 137 countries with 140K+ professionals qualified in its use.

Here are the concepts, techniques, tips and tricks available now.

  • The table below outlines various concepts, acronyms, and explanations of the CEMMethod v15 for customer experience management.
  • Key concepts include Moments of Truth (MOTs), Handovers (HOs), Business Rules (BRs), Customer Outcomes, the Triple Crown, the Disruption Factor, and measurement approaches like the Outside-In Dashboard.
  • MOTs, HOs, and BRs are core diagnostics that map and analyze the customer journey.
  • The goal is to drive improvements by transitioning from current to future state MOTs, HOs and BRs.
  • Customer Outcomes, ABACUS, CX6, and the Triple Crown framework focus on metrics and measurement.
  • Tools like the Disruption Factor, Outside-In Dashboard, and CX Diagnostic Relationship Map visualize and quantify the customer experience.
  • The methodology provides a systematic way to transform organizations and optimize customer experiences.

Review the concepts and selected video walkthroughs at: https://stevetowers.com/CEMMethod

Here is the overview of the main CEMMethod concepts: CEMMethod v15 Concepts
Ref. Concept Acronym Explanation
1 Business Outcome Based Costing BOBC The costs associated with achieving a particular Business Outcome
2 Business Rules BR A BR is any decision point in an Experience.
3 Business Rules Type BRT “There are three kinds of Business Rules (a) Strategic (b) Regulatory, and (c) Operational”
4 Causal Flow CF “Causal Flow is a visual representation of the Cause and Effect relationships between MOTs, Hos and BRs.”
5 Customer Attributes CA Describe customers as if they are your friends (rather than segment by circumstance with demographics)
6 Customer Categorisation CCAT Customer Categorisation identifies three types of Customer (a) Funders (b) Watchers and (c) Enablers.
7 Customer Expecations CEX Customer expectations are the set of behaviors or actions that customers anticipate when interacting with a company’s products or services.
8 Customer Experience Audit CXA A customer experience audit is a comprehensive assessment of customers’ interactions and perceptions of a brand during every touchpoint of the customer journey.
9 Customer Experience Diagnostic Relationship Map CXRM “This technique is a visual representation of the cause and effect relationship between Moments of Truth, Handovers and Business Rules across a customer experience.”
10 Customer Experience Diagnostics CXD “The CX diagnostics include Moments of Truth, Handovers and Business Rules. Referred to as ‘diagnostics’ they are the ultimate Cause of Work.”
11 Customer Experience Justification Deck CXJ “A management deck that builds the case for Customer Experience. It uses as its justification the Triple Crown idea of simultaneously growing revenues, reducing costs and improving service.”
12 Customer Experience Lifecycle Elements ABACUS “The elements of the Customer Experience including Awareness, Buyin, Acquisition, Customisation, Use and Share.”
13 Customer Experience Lifecycle Map CXLM A visual representation of the MOTs in the context of the ABACUS elements.
14 Customer Experience Management Office CXMO The means to transform an organisation from the Outside-In.
15 Customer Experience Map CXM A representation of the Causes of Work and their associated tasks and Activities.
16 Customer Experience Six Measurement CX6 The Outside-In CX measurement approach that goes way beyond traditional measures like NPS and CSat
17 Customer Outcome Based Costing COBC The costs associated with achieving a particular Customer Outcome
18 Customer Performance Landsape CPL A representation of the relationship between everyone and everything connected to the Successful Customer Outcome.
19 Disruption Factor DF A calculation based on MOTs and HOs that demonstrates the degree of disruption created by a change to the Customer Experience.
20 Disruption Factor Chart DFC “A graph of the status of the Disruption Factor including these elements: Death Spiral, Chaos, Uncontrolled, Inefficient, Optimised and Ideal.”
21 Disruption Factor Improvement DFI The improvement possible from the Current State CX to the Future State CX. Usually expressed as a % improvement.
22 Disruption Factor Status DFS The current Disruption Factor score.
23 Four Es Approach 4EA An advanced measurement technique relying on objective data for 100% of MOTs
24 Future State Customer Experience FSCX “The MOTs, HOs and BRs associated with the Future State.”
25 Handover HO Any interaction in the Customer Experience not directly involving the customer.
26 Handover Type HOT “The type of Handover which could be Person-Person (PP) Person-System (PS) System-Person (SP), and System-System (SS)”
27 Key Customer Outcome KCO Part of the Customer Performance Landscape Key Customer Outcomes feed into the Successful Customer Outcome. They are documented also within the Successful Customer Outcome Canvas.
28 Moments of Truth MOT Any interaction with the Customer.
29 Moments of Truth Action Plan MOTAP The migration plan of Current State MOTs to Future State MOTs
30 Moments of Truth Level MOTL “MOTs can be at three levels: Macro, Operational and Micro.”
31 Moments of Truth Owner MOTO “The MOT owner. Ideally an individual, more often a department.”
32 Moments of Truth Type MOTT “The type of Moment of Truth which could be Person-Person (PP) Person-System (PS) System-Person (SP), and System-System (SS), Person-Product/Service or Prodct/Service-Person”
33 North Star Alignment Template NSAT A matrix which states the organisation objectives and the individual/team objectives
34 North Star Metrics NSM The aggregation and prioritisation of all SCOC Key Customer Outcomes.
35 OI Task Activity Map OITAM Two layers within the Customer Performance Landscape showing tasks and activiites.
36 Organisation Readiness & Competence Assessment ORCA The maturities model for the Habitat of the organisation.
37 Organisphere Relationship Map ORM “The relationship diagram showing the customer, the inner circle and the outer circle and their connections.”
38 Organisphere Structure Diagram OSD A picture of all the organispheres for certain/all categories of customer
39 Outside-In Action Plan OIAP The action plan with responsibilities and timescales for moving from current to future state
40 Outside-In Dash Framework OIDF A five day model of reviewing any inititaive to generate an actionable plan by day 5 delivering triple crown benefits within a month
41 Outside-In Dashboard OID A complete picture of the key metric to be monitored and controlled as part of the migration to customer centricity
42 Outside-In Innovation Landscape OIIL An itemised list of possible innovations and their associated value
43 Outside-In Migration Plan OIMP A prioritised listing of deployments to achieve Outside-In Customer Experience culture
44 Outside-In Stakeholder Assessment Matrix OISAM Key players impacting the outside-In Migration Plan
45 Outside-In Strategic Control System OISCS The strategic and operation approach for implementing the CEMMethod
46 Outside-In Strategic Matric OISM A matric contrasting the Process view (industrial age) with the Customer view (Outside-In age)
47 Points of Failure POF A formulaic approach to understand the status of an experience
48 Points of Failure Action Plan POFAP Moving from inside-out to Outside-In requires specific actions and ownership. The action plan details these.
49 Points of Failure Documentation POFDOC The document that identifies the removal of Moments of Truth and the associated benefits
50 Proactive-Reactive Index PRI A calculation based on how proactive an experience is converted into an index to understand the % improvements
51 Process Performance Landscape PPL A representation of the relationship between the processes and systems connected to the Successful Customer Outcome.
52 Red Amber Green Analysis RAGA A listing of metrics contrasting outputs measures v. outcome measures.
53 Risk Evaluation Table RET Not every MOT is created equal. The RET assess the likelihood of failure at any MOT within an experience.
54 Risk Impact Matrix RIM A visual comparison of the MOTs regarding the impact of failure against the customer and organisation vectors.
55 Six Step Innovation 6Si An Outside-In measurement system that can assess the performance of experiences and their associated MOTs
56 Successful Customer Outcome SCO The stated achievement of customer needs by delivering against outside-In measures identified in the SCOC.
57 Successful Customer Outcome Canvas SCOC “Eight questions answered that build an objective understanding of a customers needs, expectations and aspirations.”
58 Triple Crown TC “The simultaneous ability to grow revenues, reduce costs and enhance service.”
59 Triple Crown Value TCV A measurement of the scale of the Triple Crown wins.

You can access the CEMMethod through the

BP Group and Partners professional qualifications, including:

Online live, interactive:

ACX Master – 4 days – https://lnkd.in/dANgYX59

ACX Champion – 3 days – https://lnkd.in/dNbvfSGp

CPP Master – 4 days – https://lnkd.in/enG5axMP

In the room (Cape Town, Denver, Johannesburg, Washington DC, Dallas, London, Bucharest)
ACX Professional – 1 day – https://lnkd.in/eYWhBhti

Download the ACX program overview – https://lnkd.in/eWbjbSBQ

Review the concepts and selected video walkthroughs at: https://stevetowers.com/CEMMethod

“This course provided a terrific holistic framework for how I can more richly think about how MOTs connect to Customer Experience and Customer Journey Management. It’s a terrific program that I’d recommend and encourage Professionals to strongly consider.”

Jim Lecinski, Professor, Kellogg School of Management

(Jim is the creator of ZMOTs and Micro MOTs as a VP at Google 2006-2018)

L.G. Lavengood Outstanding Professor of the Year Award (2022)


Connect with Steve: https://linktr.ee/SteveTowers

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How You can Win the Triple Crown with Outside-In Customer Experience

A cornerstone of the best CX companies is their ability to win the Triple Crown. What is that and How Can You win it too.

‍Image Source: Unsplash

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In today’s highly competitive business landscape, companies of all sizes and industries face the challenge of achieving sustainable, profitable growth. Traditional strategies focused on new customer acquisition are no longer sufficient in a world where offerings are becoming increasingly commoditized and digital-native firms disrupt the market with innovative and personalized offers. To overcome these challenges, companies need to shift their focus towards their most powerful competitive advantage: their existing customer base.

The Power of Experience-Led Growth

According to McKinsey, compensating for the value of one lost customer can require the acquisition of three new customers. On the other hand, 80% of the value creation achieved by the world’s most successful growth companies comes from unlocking new revenues from existing customers. These companies have mastered the art of experience-led growth, a strategy that revolves around providing a distinctive customer experience (CX) consistently and proactively.

Experience-led growth is a powerful strategy that sets successful companies apart from their competitors. It allows them to entice existing customers to choose their brand, leading to behavior changes that can be measured by concrete financial metrics such as share of wallet, repeat purchases, or net revenue retention (NRR). Companies that prioritize customer experience and delight their customers are able to achieve greater value from their current customer base, resulting in significant financial outcomes.

Shut Up and Listen to Your Customers

One classic example of experience-led growth is the transformation of a mobile telecom operator that faced an existential crisis. The company was losing customers to competitors who offered better network coverage and enticing cut-price offers. In an effort to retain customers, the company used contracts to lock them in, but this strategy backfired and created resentment among customers.

The CEO of the telecom operator had a wake-up call when he listened in to customers’ calls to the call centers during his morning commute. The frustration expressed by customers shocked him and prompted a turnaround in the company’s approach. The company eliminated contracts, allowed anytime upgrades, made every new customer offer available to existing customers, and improved its network. Additionally, the company reinvented its approach to service.

The results were remarkable. Customer satisfaction ratings jumped from worst to first in the industry, and customer churn rates were reduced by 75 percent. Over a three-year period, the company’s revenues nearly doubled, outpacing its key competitors’ revenue growth threefold. This success story emphasizes the importance of listening to customers and addressing their pain points to drive growth.

The Link Between CX and Revenue Growth

There is a strong correlation between a company’s CX ratings and its revenue growth. McKinsey’s analysis shows that companies that are leaders in CX achieved more than double the revenue growth of “CX laggards” between 2016 and 2021 in the United States. Furthermore, CX leaders rebounded from the COVID-19 pandemic more quickly than other companies.

Growth outperformers are more likely to know their customers personally, have a compelling growth story, and use predictive analytics to deliver the right messages to the right customers at the right time. These companies prioritize long-term growth over short-term profit and cultivate growth from existing customers by making it enjoyable to use more of their products and services over time.

The Three Pillars of Experience-Led Growth

Experience-led growth strategies rest on three pillars: setting a clear growth aspiration and purpose, transforming the business through customer-centricity, and enabling the change by reimagining culture and capabilities.

  1. Setting a Clear Growth Aspiration and Purpose

Companies executing experience-led growth strategies start by defining a clear vision for their desired financial outcome. Instead of driving CX for its own sake, these companies prioritize the customer experiences that will deliver the desired outcomes. They also identify the metrics they will use to measure success, such as share of wallet, repeat purchases, or NRR.

For example, a major logistics company set a bold aspiration to become the logistics player of choice for both its business customers and their end-customers. The company aimed to build long-term, value-generating relationships with customers by providing exceptional experiences. This aspiration was closely tied to additional revenues targeted in the hundreds of millions of dollars.

  1. Transforming the Business: Reinventing Customer-Centricity

Leaders in companies executing experience-led growth strategies understand the pain points that hinder growth and translate their ambitions into redesigned customer journeys and an effective cross-functional operating model. They are adept at expanding revenue pools by inventing new offerings and experiences.

A global B2B power-tools company recognized the need for a step change in its approach to CX to remain ahead of competitors. The company set a clear aspiration for its CX transformation: faultless reliability, accessibility, and transparency. It redesigned customer journeys, identified key moments of truth, and implemented actionable “voice-of-the-customer” metrics. These efforts led to tangible improvements in customer journeys and continued double-digit annual revenue growth.

  1. Enabling the Change: Reimagining Culture and Capabilities

Large companies implementing experience-led growth strategies must shift their organizational cultures and build new capabilities. These capabilities range from design thinking to cross-functional collaboration to effective use of CX measurement insights, ensuring sustained improvements in wallet share, cross-sell rates, and retention rates.

A major regional healthcare provider embarked on a multi-year transformation by training employees on agile ways of working and implementing powerful new advanced analytics capabilities. The company developed a customer data hub that aggregated millions of records from multiple data sets. This enabled the provider to build machine-learning models that triggered proactive interventions based on data-driven analysis. The improved capabilities enabled the company to sustain the benefits of its transformation over time.

The Benefits of Experience-Led Growth

Successful experience-led growth strategies can deliver a range of significant financial benefits. According to McKinsey, these strategies can increase cross-sell rates by 15 to 25 percent, boost companies’ share of wallet by 5 to 10 percent, and improve customer satisfaction and engagement by 20 to 30 percent.

Companies that prioritize customer experience and embrace experience-led growth deliver 30 percent higher Total Return to Shareholders (TRS) and nearly double the shareholder value compared to their industry peers, on average. These companies achieve sustainable revenue growth by providing exceptional experiences to their existing customers.

Conclusion

In a world where offerings are increasingly commoditized and disruptive digital-native firms target customers with innovative and personalized offers, companies must shift their focus to their existing customer base. Experience-led growth is a powerful strategy that allows companies to unlock new revenues from existing customers. By providing a distinctive and proactive customer experience, companies can drive sustainable, profitable growth.

To succeed with experience-led growth, companies must set clear growth aspirations and link them to value. They must transform their businesses by reinventing customer-centricity, redesigning customer journeys, and expanding revenue pools

Do You want the Inside track? Let’s talk!
A no obligation discovery chat where I will provide specific examples and valuable takeaways you can use immediately to deliver PRAGMATIC CX success.

https://experienceprofessional.com/acxm_inviterce5167p

“This course provided a terrific holistic framework for how I can more richly think about how MOTs connect to Customer Experience and Customer Journey Management. It’s a terrific program that I’d recommend and encourage Professionals to strongly consider.”

Jim Lecinski, Professor, Kellogg School of Management

(Jim is the creator of ZMOTs and Micro MOTs as a VP at Google 2006-2018)

L.G. Lavengood Outstanding Professor of the Year Award (2022)


Connect with Steve: https://linktr.ee/SteveTowers

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The 7 Deadly Sins of CX Measurement Systems and How to Avoid Them:

The latest research into Customer Experience Measurement makes stark reading. Get the inside track and data to support your business case for CX.

Customer experience (CX) is one of the most important factors influencing customer satisfaction, loyalty, retention and revenue. However, measuring CX can be challenging and complex, especially with existing systems that are often too subjective, retrospective and non-representative®.

If you are a senior business person or a customer experience professional who wants to gain organisational support for your efforts, produce actionable plans that improve customer experiences and build credibility for your CX efforts, then you need a new and innovative system to help you measure CX effectively and efficiently.

Some of the common challenges and limitations of existing CX measurement systems are:

  • They rely too much on subjective feedback from customers, such as surveys or ratings, which can be influenced by various factors such as mood, memory or social desirability
  • They are too retrospective, meaning they capture customer opinions after the experience has occurred, which can miss important moments or emotions during the experience
  • They are not representative, meaning they only capture a small sample of customers willing or able to provide feedback, which can skew the results or miss important segments or personas.

Some of the recent findings make for stark reading:

  • According to a McKinsey survey, the typical CX survey samples only 7 per cent of a company’s customers, providing an extremely limited view of what customers experience and value[1]
  • Another McKinsey report states that nearly two-thirds of respondents ranked the ability to act on CX issues in near real-time as among their top three priorities, but only 13 percent of leaders expressed certainty that their organizations could achieve this level of rapid insight through existing systems[2]
  • Too much subjective data often makes aligning customer goals with business outcomes difficult. Getting lost in the sheer mass of available data is far too easy.

These challenges can lead to inaccurate or incomplete data on customer experiences, resulting in poor decisions or actions that do not address customers’ real needs or expectations. This can ultimately affect customer satisfaction, loyalty and retention.

So how can you enhance your CX measurement with objective, fact-based and actionable approaches?

How can you connect a modern CXMS to business goals and outcomes?

One way is to adopt approaches that add to existing CXM systems by incorporating six elements that directly measure experiences: How Easy, How fast, How convenient, How trackable, How personalised and How predictive.

Combine those measures with a unifying model, such as the Customer Performance Landscape® and directly link the customer experiences with business goals.[3]

The CEMMethod® Customer Performance Landscape®


Over the last decade, we have codified these best CX measurement practices into the Customer Experience Management Method® (CEMMethod®). These approaches are based on leading global companies’ ‘next’ practices. Sometimes, the Customer Experience 6 (CX6) measurement approach has completely replaced previous systems like CSAT and NPS.

The CX6 includes easy-to-measure elements across all experiences and can produce results from a simple and quick analysis. The approach will ensure full support from the business leaders and put all your CX efforts on steroids. It also doesn’t mean you have to abandon those dated approaches to CX measurement – you can either implement CX6 as a complementary approach or as a complete standalone system.

If you would like to see how the CX6 can help we invite you to join our upcoming webinar on measuring customer experience with CX6.

In this webinar, you will learn:

  • What are the main challenges and limitations of existing CXM systems
  • What are the six elements of CX6 and how they relate to customer expectations and preferences
  • How to measure each element of experience using different methods or tools
  • What are the main benefits of using CX6 for organizations and customers
  • How to use CX6 in practice with a live demonstration

By attending this webinar, you will discover how CX6 can help you overcome the challenges of existing CXM systems and deliver better outcomes for both customers and organizations. You will also get to ask questions or share feedback on our presentation.

Take advantage of this opportunity to learn how to measure customer experience with CX6: a new and innovative system.
Register now by clicking this link https://cemnext.com/cxm_landing
and reserve your spot today!

[1] McKinsey – Prediction: The future of Customer Experience

[2] McKinsey – The power of the operating model in Customer Experience

[3] The CEMMethod in Action

How to win the Triple Crown?

Get yourself and your colleagues ‘upskilled’ with the Accredited Customer Experience Professional® to acquire the latest tools, techniques, and proven approaches to winning with Customer Experience.

RECOMMENDED QUALIFICATION:
The Accredited Customer Experience Professional® (ACXP): https://bit.ly/GCCACXP

If you want to check if your colleagues are already qualified do a search with #ACXP on Linkedin.

Review the extensive options from the BPG: https://www.bpgroup.org

Connect with the author: https://linktr.ee/SteveTowers

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Unlock the Benefits of Customer Experience Management: 12 FAQs Answered

Customer Experience Frequently Asked Questions – the first we look at is ‘What is Customer Experience Management?”

This and eleven other Frequently Asked Questions associated with Customer Experience Management are discussed with supporting videos and decks at www.bpgroup.org/cxfaq.html

So what exactly is Customer Experience Management (CEM)?

Customer Experience Management (CEM or CXM) is a strategic and operational approach commonly used as a competitive differentiator. It involves aligning every aspect of an organisation towards delivering customer needs and successful outcomes no matter how far removed the customer is perceived to be.

This includes:

  • Customer journey – what the customer does, expects and feels.
  • Customer Interactions.
  • Supporting internal process.
  • Associated team and hierarchy structures.
  • Performance metrics.
  • Digital capabilities.
  • Vision, mission & strategy. 

​Typically, companies who engage in Customer Experience Management activities outperform those who do not.

Customer Experience Management (CEM) is the practice of proactively managing customer interactions, perceptions, and emotions to create positive customer experiences throughout the customer journey.

It involves understanding customer needs, preferences, and expectations and then creating tailored experiences that meet these needs, that are memorable and leave a lasting impression.

​CEM also requires connecting the customer experience to the means of delivery, such as the organisation’s people, processes, and systems. This means that CEM requires a comprehensive understanding of the customer journey and ensuring that the organisation’s people, processes, and systems can work together to provide a seamless experience that meets customer needs and expectations.
Additionally, CEM requires a focus on developing customer relationships and fostering loyalty by providing ongoing support, feedback, and value

Enhance your customer experience career with a Certified Journey Management Professional® qualification. 
Get the info you need at https://www.cjmplus.com

Enhance Your Customer Experience expertise with the CJMP® qualification

Review the Customer Experience FAQs

Customer Experience Management FAQs – BPG (bpgroup.org)

RECOMMENDED QUALIFICATION:
The Accredited Customer Experience Professional® (ACXP): https://bit.ly/GCCACXP

If you want to check if your colleagues are already qualified do a search with #ACXP on Linkedin.

Review the extensive options from the BPG: https://www.bpgroup.org

Connect with the author: https://linktr.ee/SteveTowers

Review the Twelve Frequently Asked Questions associated with Customer Experience Management are discussed with supporting videos and decks at www.bpgroup.org/cxfaq.html

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How to apply the key fundamentals of Customer Experience success

When Steve Jobs kicked off the Customer Experience (CX) movement in 1997 (video here), he crystallized the idea of understanding customer NEEDS before doing anything else.

At the same time, another CX genius, Jeff Bezos, was three years into creating the most profitable company on the planet and precisely understood Steve Jobs ‘working backwards’ imperative.

There is this Need (even though customers don’t know it yet), and I can create the desire and meet that Need now.

A young, fresh-faced Jeff Bezos in 1997

The rest is history. Watch the 2-minute video here.

Do you want to embrace advanced Customer-Centric thinking and become Outside-In?

https://lnkd.in/djWxB8m

👉 Step #1 – Review the upskilling options to become an ACX Professional & ACX Master: https://lnkd.in/dANgYX59

👉 Step #2 – Get The Book: Outside-In The Secret *FREE*  https://bit.ly/OI2021now

👉 Step #3 – Connect With The Community: https://linktr.ee/SteveTowers

👉 Step #4 – Keep Pace with Change: Recent Keynote – The Hard Benefits of XM | https://cemnext.com/xmroi2023

👉 Step #5 – Review the Testimonials Accredited Customer Experience Professional – BPG (bpgroup.org)

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Discover 23 Must-Attend Top-Notch Customer Experience Conferences in 2023!

Overview of customer experience featuring 23 must attend conference in 2023

As a business leader, you know the importance of customer experience (CX) and its impact on your success. But do you know about the must-attend customer experience conferences for 2023?

Must-Attend Customer Experience Conferences in 2023

Now that you know the importance of customer experience, let’s take a look at the must-attend customer experience conferences in 2023:

January 2023

February 2023

March 2023

May 2023

June 2023

July 2023

August 2023

September 2023

October 2023

These conferences are great opportunities to learn the latest strategies in customer experience, network with other industry professionals, and gain invaluable insight into the customer experience industry.

Conclusion

Customer experience is an essential part of any business’s success. It involves understanding customer needs and developing strategies to meet those needs. It also involves creating customer-centric strategies, setting customer goals, and measuring customer satisfaction.

Attending customer experience conferences is a great way to learn the latest strategies in customer experience, network with other industry professionals, and gain invaluable insight into the customer experience industry.

Review these 23 top-rated CX Conferences for 2023 to start your journey to become a customer experience expert!

Connect with me: https://linktr.ee/stevetowers

Featured

Leveraging Analytics to Create the Ultimate Customer Experience Ecosystem

Dr. Durrell Ramrathan, Ph.D

Dr. Durrell Ramrathan is for many an unsung hero carving a path for the rest of us to follow as he takes CX and Analytics to the next level. This recent keynote is exactly what |I am talking about, chokka block full of useful practical guidance and some great stories at the same time.

Watch the presentation here and download the transcript below.

You can reach out to Durrel at: Durel Ramrathan, Ph.D
and he is part of the groundbreaking CX team headed by Roland D. Naidoo over at #Multichoice.

Get the Transcript: https://bit.ly/CXAnalyticsTransacr

To upskill to the latest ‘Next Practice’ Find out more: https://bit.ly/GCCACXP

There are always more questions than answers 😉 However, in the ACX Masters program, we cover all the bases and provide a set of tools and approaches that enable you to WIN THE TRIPLE CROWN in every CX initiative
Join us soon!

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Changing While Achieving Stretch Goals (Case study) 👍

It’s difficult to imagine implementing significant change within a large multi-national B2B organisation while dealing with the complexities of COVID and supply chain issues. However, this case study achieves the triple crown of business benefits by increasing revenue, decreasing costs, and significantly increasing value by reducing “time to respond.”

silhouette man standing on road against sky during sunset
Photo by Pixabay on Pexels.com

This organisation achieved outstanding results by taking an outside-in approach to customer outcomes and driving results through goal-driven collaboration. As a result, they were able to expand on a large scale during the COVID period.

Let’s take a look at this case study: https://lnkd.in/dZCqFfDZ

Featured

How to understand and apply the key fundamentals of Customer Experience success

When Steve Jobs kicked off the Customer Experience (CX) movement in 1997 (video here), he crystallized the idea of understanding customer NEEDS before doing anything else.

At the same time, another CX genius, Jeff Bezos, was three years into creating the most profitable company on the planet and precisely understood the working backwards imperative.

A young fresh-faced Jeff Bezos


There is this Need (even though customers don’t know it yet), and I can create the desire and meet that Need now. The rest is history. Watch the 2-minute video here.

Do you want to embrace advanced Customer-Centric thinking and become Outside-In?

https://lnkd.in/djWxB8m

👉 Step #1 – Review the upskilling options to become an ACX Professional & ACX Master: https://lnkd.in/dANgYX59

👉 Step #2 – Get The Book: Outside-In The Secret *FREE*  https://bit.ly/OI2021now

👉 Step #3 – Connect With The Community: https://linktr.ee/SteveTowers

👉 Step #4 – Keep Pace with Change: Recent Keynote – The Hard Benefits of XM | https://cemnext.com/xmroi2023

👉 Step #5 – Review the Testimonials Accredited Customer Experience Professional – BPG (bpgroup.org)

Featured

CX is a Team Sport. Are You Ready To Win Big?

Successful CX outcomes are akin to preparing for a major sporting event. Operating without a playbook or preparation dooms your efforts to be perceived as “wishful thinking.”

Accelerating CX adoption relies on your ability to connect strategy, organizational design, process management, people concerns, and digital/technology.

CX is a Team Sport – Play It To Win

Senior leaders are fiercely competitive. Many enjoy competitive sports in general. Many view their organizations as part of a highly competitive team sport. It is perplexing, then, that Customer Experience (CX) adoption has not been more rapid and widespread[RN2]. Great CX requires every player on the team to understand how their role contributes to success, and play within the system, adapting quickly to evolving customer needs.

Too often, CX efforts are relegated to reliance on fragile subjective metrics like NPS. So much so that the original inventor of NPS, Fred Reichheld, says ‘I had no idea how many people would mess with the score to bend it, to make it serve their selfish objectives’. This has led to leaders’ belief that #CX is disconnected from the reality of daily business, the product of people great at talking but not walking.

There has never been a better, more pressing, time to get more scientific about CX.

To build long-term success, CX programs must deliver business results by catalyzing forward-facing, objective, and connected measurement systems. CX leaders must help organizational decision-makers to “connect the dots” and appreciate the role everyone has to play in delivering successful customer outcomes.

The BP Group’s North Star is indeed this upskilling of practitioners, professionals, and masters of Customer Experience. We teach an underpinning approach that has been tried, tested, and deployed in leading global corporations which aims to educate, inform and deliver immediate results that both charm senior leaders, excite customers, and consistently deliver growing shareholder value.

CX is indeed a team sport – let’s play it to win.
You can Review the program here: https://bit.ly/ACXP2022.

Find out how to make CX A TEAM SPORT

Do you want to embrace advanced Customer-Centric thinking and become Outside-In?

https://lnkd.in/djWxB8m

👉 Step #1 – Review the upskilling options to become an ACX Professional & ACX Master: https://lnkd.in/dANgYX59

👉 Step #2 – Get The Book: Outside-In The Secret *FREE*  https://bit.ly/OI2021now

👉 Step #3 – Connect With The Community: https://linktr.ee/SteveTowers

👉 Step #4 – Keep Pace with Change: Recent Keynote – The Hard Benefits of XM | https://cemnext.com/xmroi2023

👉 Step #5 – Review the Testimonials Accredited Customer Experience Professional – BPG (bpgroup.org)

Unlock Your Potential with the ACXA® Qualification – Accredited Customer Experience Advisor®

📈 So many Metrics, So little Time. Smash through the Barrier!
Get the Deck and The CX Measurement system that works Immediately. 👍

New qualification Builds on other CX certifications.

Elevate your CX expertise with the Accredited Customer Experience Advisor® (ACXA®) certification. Built on your existing qualifications, ACXA® offers the latest insights and practical learnings to push CX to the next level. This certification positions you at the forefront of delivering objective results for CX initiatives, whether individually, within a team, or across an enterprise.

For those already certified in Customer Experience (ACX Professionals & Masters, CCXPs), ACXA® is a must-have. It recognizes your continuous growth in understanding, applying, and mastering the latest methods from leading customer-centric companies like Zappos, Virgin, Lego, Kroo, Progressive and Southwest Airlines.

Explore ‘CX intuition’ with hands-on examples and case studies to understand evolving customer needs. Learn about hyper-personalization and science-based CX Analytics (where science meets WOW). Delve into sustainability and greening CX developments. Finally, discover the evolution of metrics and measurements to become forward-looking and proactive.

Are you ready to stay ahead in the ever-evolving Customer Experience (CX) world?

Join us for the inaugural one-day programme in Johannesburg on October 4th

😎 The Accredited CX Master® programme now incorporates AI learning and modules to adopt CX-friendly technologies.
To find out more about the complete programme, visit: https://experienceprofessional.com/acxm_inviterce5167p

Frequently Asked Questions Related the CEMMethod®

Frequently Asked Questions Related to the CEMMethod®

  1. What is CEMMethod®? How does the CEMMethod® help? The CEMMethod® is a comprehensive approach that aims to improve customer experiences by aligning all aspects of an organization with customer needs and experiences.

    It helps by:
    > Lowering costs, increasing revenues, and improving service through the Triple Crown approach.
    > Utilizing tools like the Successful Customer Outcome Canvas (SCOC) and the Outside-In Strategic Matrix (OISM) to identify and prioritize key customer outcomes.
  2. Implementation Challenges: Common challenges organizations face when implementing the CEMMethod® include:
    > Integrating the method with existing processes and systems effectively and efficiently.
    > Ensuring that the focus remains on customer needs and experiences while addressing internal processes.
  3. Measuring Success: Enterprises measure the success and effectiveness of the CEMMethod® by:
    > Assessing the impact on key outcomes such as lower costs, higher revenues, and improved service.
    > Evaluating the efficacy of techniques and approaches in real-world applications and their alignment with customer needs.
    • Integration with Existing Systems: The CEMMethod® can be integrated with existing enterprise systems and processes by:
      > Aligning with AI, digitization, and machine learning for significant cost reductions and revenue uplift.
      > Adapting the portfolio of techniques and approaches to suit all circumstances, ensuring rigorous dashboards focused Outside-In.

      For more detailed information and practical applications, you can explore the resources and guides available on the CEMMethod®.

Steve Towers, Chief Experience Officer for the BPG, an expert in customer experience, enjoys spreading his enthusiasm for this field through coaching, consultancy, keynote speeches and books.

He helps companies win the triple crown – the simultaneous ability to increase revenues, decrease costs, and enhance service – through the CEMMethod, which is now in version 15.

With over three decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in software companies like Parallel.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

The Heart of Innovation Lies in the Retail Customer Experience

📈 So many Metrics, So little Time. Smash through the Barrier!
Get the Deck and The CX Measurement system that works Immediately. 👍

Just Walk Out Technology gets an upgrade – here’s a quick walkthrough

Overview of Just Walk Out Technology

Amazon Fresh’s Just Walk Out technology—a game-changer in the food retail sector- has been upgraded further. What are the business and customer objectives?

Elevate the Shopping Journey: Just Walk Out technology redefines convenience by eliminating the hassle of checkout queues, offering a seamless shopping experience that draws in delighted customers.

Streamline Operations and Cut Costs: This innovative tech minimizes the necessity for cashiers, paving the way for substantial savings and a leaner workforce in grocery stores.

Unlock Insights into Consumer Behavior: Harness the potential of Just Walk Out to gather critical consumer data, empowering businesses to refine store designs, perfect inventory control, and tailor marketing strategies with precision.

Fuel Industry-wide Innovation: As Just Walk Out triumphs, it sets a precedent, encouraging other retailers to embrace cutting-edge solutions, thereby fostering a culture of continuous innovation across the grocery sector.

Smart Adaptation for Future Growth: With its remarkable ability to learn and adapt autonomously, Just Walk Out stays ahead of the curve, effortlessly adjusting to new store layouts and product ranges without missing a beat, ensuring it remains a robust and versatile ally in the ever-evolving retail landscape.

😎 The Accredited CX Master® programme now incorporates AI learning and modules to adopt CX-friendly technologies.
To find out more about the complete programme, visit: https://experienceprofessional.com/acxm_inviterce5167p

Frequently Asked Questions Related the CEMMethod®

Frequently Asked Questions Related to the CEMMethod®

  1. What is CEMMethod®? How does the CEMMethod® help? The CEMMethod® is a comprehensive approach that aims to improve customer experiences by aligning all aspects of an organization with customer needs and experiences.

    It helps by:
    > Lowering costs, increasing revenues, and improving service through the Triple Crown approach.
    > Utilizing tools like the Successful Customer Outcome Canvas (SCOC) and the Outside-In Strategic Matrix (OISM) to identify and prioritize key customer outcomes.
  2. Implementation Challenges: Common challenges organizations face when implementing the CEMMethod® include:
    > Integrating the method with existing processes and systems effectively and efficiently.
    > Ensuring that the focus remains on customer needs and experiences while addressing internal processes.
  3. Measuring Success: Enterprises measure the success and effectiveness of the CEMMethod® by:
    > Assessing the impact on key outcomes such as lower costs, higher revenues, and improved service.
    > Evaluating the efficacy of techniques and approaches in real-world applications and their alignment with customer needs.
    • Integration with Existing Systems: The CEMMethod® can be integrated with existing enterprise systems and processes by:
      > Aligning with AI, digitization, and machine learning for significant cost reductions and revenue uplift.
      > Adapting the portfolio of techniques and approaches to suit all circumstances, ensuring rigorous dashboards focused Outside-In.

      For more detailed information and practical applications, you can explore the resources and guides available on the CEMMethod®.

Steve Towers, Chief Experience Officer for the BPG, an expert in customer experience, enjoys spreading his enthusiasm for this field through coaching, consultancy, keynote speeches and books.

He helps companies win the triple crown – the simultaneous ability to increase revenues, decrease costs, and enhance service – through the CEMMethod, which is now in version 15.

With over three decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in software companies like Parallel.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

Revolutionizing Business: The Heart of Innovation Lies in Customer Centricity

📈 So many Metrics, So little Time. Smash through the Barrier!
Get the Deck and The CX Measurement system that works Immediately. 👍

Six-step Innovation Approach within the CEMMethod® Delivers Triple Crown benefits

Intro to Six Step Innovation approach

😎 The Accredited CX Master® programme now incorporates AI learning and modules. To find out more about the complete programme, visit: https://experienceprofessional.com/acxm_inviterce5167p

Frequently Asked Questions Related the CEMMethod®

Frequently Asked Questions Related to Fraud and the CEMMethod®

  1. What is CEMMethod®? How does the CEMMethod® help? The CEMMethod® is a comprehensive approach that aims to improve customer experiences by aligning all aspects of an organization with customer needs and experiences.

    It helps by:
    > Lowering costs, increasing revenues, and improving service through the Triple Crown approach.
    > Utilizing tools like the Successful Customer Outcome Canvas (SCOC) and the Outside-In Strategic Matrix (OISM) to identify and prioritize key customer outcomes.
  2. Implementation Challenges: Common challenges banks face when implementing the CEMMethod® for fraud prevention include:
    > Integrating the method with existing processes and systems effectively and efficiently.
    > Ensuring that the focus remains on customer needs and experiences while addressing internal processes.
  3. Measuring Success: Banks measure the success and effectiveness of the CEMMethod® by:
    > Assessing the impact on key outcomes such as lower costs, higher revenues, and improved service.
    > Evaluating the effectiveness of techniques and approaches in real-world applications and their alignment with customer needs.
    • Integration with Existing Systems: The CEMMethod® can be integrated with existing bank systems and processes for seamless fraud prevention by:
      > Aligning with AI, digitization, and machine learning for significant cost reductions and revenue uplift.
      > Adapting the portfolio of techniques and approaches to suit all circumstances, ensuring rigorous dashboards focused Outside-In.

      For more detailed information and practical applications, you can explore the resources and guides available on the CEMMethod®.

Steve Towers, Chief Experience Officer for the BPG, an expert in customer experience, enjoys spreading his enthusiasm for this field through coaching, consultancy, keynote speeches and books.

He helps companies win the triple crown – the simultaneous ability to increase revenues, decrease costs, and enhance service – through the CEMMethod, which is now in version 15.

With over three decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in software companies like Parallel.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

The Role Of Technology And Personalization In Financial Cx

From Trends to Transformation: How Financial Services Can Enhance Customer Experience in 2023

In the ever-evolving landscape of financial services, enhancing customer experience has become a paramount goal for organizations aiming to stay ahead. As we delve into the mid 20s, the integration of cutting-edge technology and personalized approaches is revolutionizing how financial institutions interact with their clients. Leveraging advancements in AI and predictive analytics, these entities are now equipped to offer tailored experiences that drive engagement and foster loyalty. This article explores the transformative trends reshaping customer interactions in the financial sector, showcasing CX case studies and highlighting the significance of professional qualifications such as ACXS and ACXM. Dive in to discover how these innovations can propel your organization toward unparalleled customer satisfaction and business success.

Embracing Technological Innovations

The Role of AI in Financial Services

Artificial Intelligence (AI) is significantly transforming the landscape of financial services. AI algorithms analyze vast amounts of data to provide insights that were previously unattainable. Financial institutions are leveraging AI to enhance customer interactions, streamline operations, and mitigate risks. For instance, AI-powered chatbots offer 24/7 customer support, providing quick and accurate responses to customer queries. Predictive analytics, another AI application, enables banks to anticipate customer needs, tailoring services and products to individual preferences. Additionally, AI helps in fraud detection by identifying unusual patterns and flagging potential threats in real time. These advancements not only improve operational efficiency but also elevate the overall customer experience. As a result, financial services can foster deeper engagement and customer loyalty, driving business transformation in an increasingly competitive environment.

Leveraging GAI for Enhanced Customer Interactions

Generative AI (GAI) is opening new avenues for enhanced customer interactions in financial services. By creating personalized content and responses, GAI enables financial institutions to engage with clients in a more meaningful way. For instance, GAI can draft customized emails and messages that resonate with individual customer preferences, leading to higher engagement rates. Furthermore, GAI can assist in creating intuitive and user-friendly interfaces for digital banking platforms, making financial services more accessible and enjoyable for users. Another key benefit is the capability of GAI to generate sophisticated financial reports and insights that are tailored to the specific needs of clients, helping them make informed decisions. By leveraging GAI, financial services can not only improve the customer experience but also build stronger, more personalized relationships with their clientele, driving sustained loyalty and business growth.

Technology-Driven Personalization

Technology-driven personalization is revolutionizing the way financial services cater to their customers. By harnessing data analytics and machine learning, institutions can now offer highly customized experiences tailored to individual needs and preferences. For example, personalized financial advice and investment recommendations can be generated based on a customer’s financial history and behavior. Mobile banking apps can offer targeted promotions and services that align with user activities and preferences, enhancing the relevance of their offerings. Additionally, personalization extends to communication channels, where customers receive information and updates through their preferred mediums, be it email, SMS, or app notifications. This level of customization not only improves customer satisfaction but also increases engagement and loyalty. By adopting technology-driven personalization, financial services can provide a more intuitive and responsive customer experience, ultimately leading to better customer retention and higher growth potential.

Strategies for Driving Engagement and Loyalty

Personalization Techniques that Work

Effective personalization techniques can make a significant difference in driving engagement and loyalty in financial services. One successful approach is segmenting customers based on their behaviors and preferences, allowing for targeted marketing campaigns that resonate on a personal level. Another technique is the use of predictive analytics to anticipate customer needs and offer relevant products or services proactively. Personalized communication is also key; tailoring messages and offers to individual customer journeys enhances the relationship and builds trust. Additionally, integrating customer feedback into service improvements ensures that the personalization efforts are aligned with actual customer expectations. Utilizing AI-driven chatbots for personalized support can further streamline the customer experience, providing quick resolutions tailored to individual issues. By implementing these personalization techniques, financial services can foster deeper connections with their customers, ultimately enhancing engagement and cultivating long-term loyalty.

Real-World CX Case Studies: Success Stories

Examining real-world CX case studies reveals how financial services have successfully implemented strategies to enhance customer experience. One notable example is a leading bank that utilized AI to streamline its customer service operations. By deploying AI-powered chatbots, the bank significantly reduced response times and improved customer satisfaction. Another success story involves a financial institution that leveraged predictive analytics to tailor its investment advice. By analyzing customer data, the institution provided personalized recommendations, resulting in higher customer engagement and increased portfolio growth. Additionally, a credit union employed advanced segmentation techniques to target specific member groups with customized offers and communications, boosting member loyalty and retention rates. These case studies highlight the tangible benefits of adopting innovative CX strategies, demonstrating how financial services can achieve remarkable improvements in customer interactions and overall satisfaction by leveraging technology and personalization.

Building Loyalty through Consistent Customer Experience

Consistency in customer experience is a cornerstone for building loyalty in the financial services sector. Customers expect seamless interactions across all touchpoints, whether they are engaging through a mobile app, a website, or in-person. To achieve this, financial institutions must ensure that their messaging, service quality, and customer interactions are uniform across all channels. Implementing a unified customer relationship management (CRM) system can help maintain this consistency by providing a centralized view of customer data and interactions. Additionally, training customer service representatives to deliver consistent and personalized service can significantly enhance customer satisfaction. Regularly gathering and acting on customer feedback is also crucial for continuous improvement. By maintaining a consistent customer experience, financial services can build trust and reliability, key factors in fostering long-term customer loyalty. This approach not only strengthens customer relationships but also drives engagement and business growth.

Elevating Insurance to New Heights: AI-Driven Solutions for Unmatched Efficiency and Customer Delight

📈 So many Metrics, So little Time. Smash through the Barrier!
Get the Deck and The CX Measurement system that works Immediately. 👍

AI and generative AI (gen AI) are transforming many industries, including Insurance.

In a 2024 an article by McKinsey identified four AI trends :

a. Rapid adoption – 65% of respondents to the survey say they are using gen AI.

b. Business benefits – revenue growth and cost reductions

c. AI Global adoption – now at 72% of survey respondents

d. Investment and Value – two-thirds of respondents anticipate increased AI investment over the next two years

These trends compel insurance companies to review their phygital strategies (combining the best of the physical with digital customer experiences).

Insurers have always dealt with huge amounts of information, and this continues to increase under the burden of changes to data protection laws, new regulations and a more diverse set of customer needs.

Many have sought to automate this inbound and outbound activity, and now, with the arrival of Gen AI, progressive insurers are adopting proactive strategies to grow revenues, reduce costs, and significantly enhance the customer experience.

The role of gen AI in enhancing the customer experience is significant, as it improves operational effectiveness (Triple Crown Plus). The delivery of this triple crown plus benefit is now the hallmark of leading insurers.

Let’s review how gen AI is transforming the sector:

🎯 1. Optimising the Underwriting Experience:

Achieving top-notch underwriting is essential for gauging the risks tied to new proposals. It’s a balancing act for underwriters to ensure precision, uphold quality, and handle a substantial number of applications. Using AI can revolutionise this experience by scrutinising proposals through the lens of historical patterns, past decisions, and established underwriting protocols. Risk factors can be identified with AI, especially concerning payment reliability, geographical risk factors, customer longevity, exposure to particular hazards, vehicular telematics, and the likelihood of ‘acts of God’ events.

Embracing AI-driven platforms to streamline the underwriting process enables professionals to outsort high-risk proposals and personalise quotations. Integrating business rules engines can significantly boost the frequency of straight-through processing for straightforward cases and intelligently route complex scenarios to specialised underwriting teams, considering their skill set and current capacity.

🛄 2. Refining Claims Processing Precision:

For insurers, the claims experience presents a critical “moment of truth” for its customers and partners. Streamlined and accurate claims handling is essential to reduce losses and complete settlements quickly. Gen AI can markedly enhance the entire claims experience and processes with these key deliverables:

• Claims Triage: Incoming claims can overwhelm Claims units, especially those with technologies designed before the ‘high expectation promiscuous’ clients. AI systems can optimise the experience and processes by leveraging past data and predefined criteria to sort claims by their gravity, enabling straightforward, low-severity claims to bypass manual checks. This improves both efficiency and turnaround times.

• Automated Reserve Allocation: Accurate reserves must be established early in the claims process to uphold accurate financial indicators. AI can determine more accurate reserves at the claim’s inception, factoring in variables like the line of business, policy specifics, and loss causation, thereby reducing errors.

🔎 3. Fraud Identification:

Detecting fraud can be a huge, expensive, labour-intensive task that slows claims processing. AI’s pattern-matching capabilities significantly improve throughput and accuracy and mitigate the risk of potential legal disputes. Reducing the load from manual checking (and freeing up scarce resources) also reduces costs, improves turnaround times, and enhances the overall customer and employee experience.

🧭 4. Fraud Detection:

Fraud detection is critical for safeguarding against financial losses due to deceptive claims. AI enhances Predictive Analytics when looking for patterns that can indicate fraudulent activity. Claims fraud detection approaches can be intensive and expensive, coupled with suboptimal experiences for clients and partners. Enhancing the data analytics approaches with Gen AI produces faster results at a lower cost than traditional approaches

🤗 5. Delivering Exceptional Customer Experience:

Insurance companies often struggle to extract value from their data despite being data-intensive. AI and machine learning (ML) models can categorise customers into ‘needs’ groups, enabling targeted campaigns and personalised benefit coverages. Predictive models can forecast customer lifetime value, allowing insurers to focus on high-value customer categories with minimal effort.

To excel in the phygital age, insurance companies must embrace the latest technologies and developments in AI, gen AI and Machine Learning.

Hyper personalisation is now the future of insurance, just as it has become in other industries with companies like Adidas, Amazon and Spotify. Gen AI helps companies make a quantum leap with customised communication and coverage while supporting risk assessment, claims processing, and digital and physical customer and employee experiences. Ultimately, it is about winning the ‘Triple Crown plus’ to drive overall success and competitiveness.

😎 The Accredited CX Master® programme now incorporates AI learning and modules. To find out more about the complete programme, visit: https://experienceprofessional.com/acxm_inviterce5167p

McKinsey article referenced: The state of AI in early 2024: Gen AI adoption spikes and starts to generate value

Frequently Asked Questions Related to Fraud and the CEMMethod®

Frequently Asked Questions Related to Fraud and the CEMMethod®

  1. What is CEMMethod®? How does the CEMMethod® help? The CEMMethod® is a comprehensive approach that aims to improve customer experiences by aligning all aspects of an organization with customer needs and experiences.

    It helps by:
    > Lowering costs, increasing revenues, and improving service through the Triple Crown approach.
    > Utilizing tools like the Successful Customer Outcome Canvas (SCOC) and the Outside-In Strategic Matrix (OISM) to identify and prioritize key customer outcomes.
  2. Implementation Challenges: Common challenges banks face when implementing the CEMMethod® for fraud prevention include:
    > Integrating the method with existing processes and systems effectively and efficiently.
    > Ensuring that the focus remains on customer needs and experiences while addressing internal processes.
  3. Measuring Success: Banks measure the success and effectiveness of the CEMMethod® in fraud prevention by:
    > Assessing the impact on key outcomes such as lower costs, higher revenues, and improved service.
    > Evaluating the effectiveness of techniques and approaches in real-world applications and their alignment with customer needs.
  4. Integration with Existing Systems: The CEMMethod® can be integrated with existing bank systems and processes for seamless fraud prevention by:
    > Aligning with AI, digitization, and machine learning for significant cost reductions and revenue uplift.
    > Adapting the portfolio of techniques and approaches to suit all circumstances, ensuring rigorous dashboards focused Outside-In.

    For more detailed information and practical applications, you can explore the resources and guides available on the CEMMethod®.

Steve Towers, Chief Experience Officer for the BPG, an expert in customer experience, enjoys spreading his enthusiasm for this field through coaching, consultancy, keynote speeches and books.

He helps companies win the triple crown – the simultaneous ability to increase revenues, decrease costs, and enhance service – through the CEMMethod, which is now in version 15.

With over three decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in software companies like Parallel.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

Navigating the Future: Unmissable CX Events in June, July, and August 2024

📈 So many Metrics, So little Time. Smash through the Barrier!
Get the Deck and The CX Measurement system that works Immediately. 👍

Discover the Insights, Network with Experts, and Elevate Your CX Game!


As the sun warms the days, so does the excitement around Customer Experience (CX) events. 🌟 Whether you’re a seasoned CX professional or just dipping your toes into the world of customer-centricity, these events are your compass to navigate the ever-evolving landscape.

Join us as we explore the most anticipated CX gatherings, where thought leaders, practitioners, and visionaries converge to share strategies, innovations, and success stories. These events from Las Vegas to Riyadh promise inspiration, actionable takeaways, and connections that will shape your CX journey.

Ready to embark on this adventure? Let’s dive in! 🚀🔡

JUNE 2024
Global ACX Master | June 10-13 | Online Live (with Steve Towers)
Conference for CX Innovators in Financial Services | June, 15-16 | Boston, US
Customer Contact Week Asia 2024 | June, 16-19 | Singapore
​Global ACX Champion June 17-20 Online Live (with Steve Towers)
CX North America by Forrester | Nashville, USA | June 17 – 20
Franchise Customer Experience Conference 2024 | June, 18-20 | Atlanta, US
4th Annual CX in Financial Services Conference  | June 18 – 19 | London, UK
CX EMEA by Forrester | June 24 – 26 | London, UK
The Conference for CX Innovators in FS | June, 15-16 | Boston, US
The Cross-Industry Conference for CX Innovators | June, 15-16 | Boston, US
Customer Contact Week Asia 2024 | June, 16-19 | Singapore
Franchise Customer Experience Conference 2024 | June, 18-20 | Atlanta, US
Customer Experience in Financial Services | June, 19-20 | London, UK
CX Paris | June, 21-23 | Paris, France
CX EMEA by Forrester | June, 25-26 | London, UK & Online

July
E3CX | July, 3-4 | Riyadh, Saudi Arabia
CX Retail UK | July 8 – 9 | London, UK
CXFS | July 15 – 16 | Boston, USA
Customer Experience 2024 | July 15 – 17 | Orlando, USA
Customer Contact Week Asia 2024 | July 16 – 19 | Singapore

August
World CX Summit by Trescon CX | August 2-3 | Singapore
The Customer Show Sydney | August 16-17 | Sydney, Australia

Steve Towers, Chief Experience Officer for the BPG, an expert in customer experience, enjoys spreading his enthusiasm for this field through coaching, consultancy, keynote speeches and books.

He helps companies win the triple crown – the simultaneous ability to increase revenues, decrease costs, and enhance service – through the CEMMethod, which is now in version 15.

With over three decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in software companies like Parallel.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

Combatting Bank Fraud using the CEMMethod®

📈 So many Metrics, So little Time. Smash through the Barrier!
Get the Deck and The CX Measurement system that works Immediately. 👍

Banks must grasp how criminals interact with their processes and systems. This allows upgraded security to defend customers.

Here’s how using the CEMMethod® to help

User Research and Real Events.

  • Study actual fraud cases.
  • See how criminals use bank offerings.
  • Document fraudste­r actions, steps taken, what they e­ngaged with, and victim emotions.
  • Consider both faile­d and successful crimes for a complete­ view.

Chart Fraudster Customer Journe­ys.

  • Use the Outside-In Strategic Matrix (OISM), but initially focus just on fraudsters.
  • Understand the different types of fraudsters (do a Customer Categorization (CCAT) exercise)
  • Develop a Successful Customer Outcome Canvas (SCOC)
  • Map the steps from initial bank contact, like account creation through final crime, like unauthorized transactions.
  • Calculate the Disruption Factor (DF)
  • Use the Innovation approach to identify Moments of Truth (MOTs), weak points, and are­as for improvement within this path.
  • Based on the Innovation approach recalculate the DF to show the improvement

Note Every Interaction and Channel.

  • Account for all criminal bank MOTs/touchpoints, including:
    • Account creationLogin/authentication
    • Transaction history
    • Phone, email, and chat communications
    • Customer support exchange­s

See how criminals exploit we­aknesses at each ste­p.

  • Complete a Risk-Impact matrix (RIM)

Data is Key Ove­r Visuals.

  • Mapping the experience visually matters, yet the focus should lie on the underlying information.
  • Comprehend patterns, trigge­rs, and behavioural signals.
  • Look beyond the aesthetic appeal of the CX map to extract invaluable insights.

Customer Vie­wpoint and Emotions.

  • Step into a fraudster’s shoes. Use the ‘empty chair approach’.
  • What drive­s them? What emotions arise?
  • Also, e­mpathize with legitimate custome­rs who fall prey to fraud.
  • Understand their feelings of anxiety, frustration, and vulnerability.

Cross-Te­am Collaboration.

  • Involve teams spanning fraud preve­ntion, UX design, security expe­rts, and customer support.
  • Share insights, collaborating to address vulne­rabilities identified in the­ fraudster’s journey.

Prioritizing Account Takeover (ATO).

  • Recognize fraudsters directly target user accounts.
  • Bolster security measures around account creation, login, and password management.
  • Educate users on se­cure practices to preve­nt ATO.

Adapting to Evolving Trends.

  • Stay informed about shifting fraud tactics.
  • As fraudsters adapt, so must your defences.
  • Monitor phishing, social engine­ering, and other fraudster me­thods.

Balancing Security and User Experience.

  • You should enhance­ security without hindering genuine­ users.
  • Make sure the­ security upgrades don’t negative­ly affect user expe­rience.
  • Put security measures smoothly, no hassle for real customers.

Keep Improving.

  • Revie­w the fraudster’s plan often, update­ CX map regularly.
  • Revisit the OISM and CCAT and update them on a regular basis
  • Try new che­cks, and analyze if they work well against thre­ats.
  • Learn from actual incidents and modify practices accordingly.

Frequently Asked Questions Related Bank Fraud and the CEMMethod®

Frequently Asked Questions Related to Bank Fraud and the CEMMethod®

  1. What is CEMMethod®? How does the CEMMethod® help? The CEMMethod® is a comprehensive approach that aims to improve customer experiences by aligning all aspects of an organization with customer needs and experiences.

    It helps by:
    > Lowering costs, increasing revenues, and improving service through the Triple Crown approach.
    > Utilizing tools like the Successful Customer Outcome Canvas (SCOC) and the Outside-In Strategic Matrix (OISM) to identify and prioritize key customer outcomes.
  2. Implementation Challenges: Common challenges banks face when implementing the CEMMethod® for fraud prevention include:
    > Integrating the method with existing processes and systems in a way that is both effective and efficient.
    > Ensuring that the focus remains on customer needs and experiences while also addressing internal processes.
  3. Measuring Success: Banks measure the success and effectiveness of the CEMMethod® in fraud prevention by:
    > Assessing the impact on key outcomes such as lower costs, higher revenues, and improved service.
    > Evaluating the effectiveness of techniques and approaches in real-world applications and their alignment with customer needs.
  4. Integration with Existing Systems: The CEMMethod® can be integrated with existing bank systems and processes for seamless fraud prevention by:
    > Aligning with technologies such as AI, digitization, and machine learning for significant cost reductions and revenue uplift.
    > Adapting the portfolio of techniques and approaches to suit all circumstances, ensuring rigorous dashboards focused Outside-In.

    For more detailed information and practical applications, you can explore the resources and guides available on the CEMMethod®

Steve Towers, Chief Experience Officer for the BPG, an expert in customer experience, enjoys spreading his enthusiasm for this field through coaching, consultancy, keynote speeches and books.

He helps companies win the triple crown – the simultaneous ability to increase revenues, decrease costs, and enhance service – through the CEMMethod, which is now in version 15.

With over three decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in software companies like Parallel.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

Jargon Monoxide: Clear the Air in Your Workplace!

📈 So many Metrics, So little Time. Smash through the Barrier!
Get the Deck and The CX Measurement system that works Immediately. 👍

In the corporate world, a silent and insidious problem exists – jargon. ☠️
It’s a language filled with fancy words and complex phrases that confuse and disengage people during meetings.


Some common symptoms of “jargon monoxide” exposure include:-

🙄 Eyes glazing over during presentations

😵‍💫 Sudden confusion about the meaning of words being used

😵 An irresistible urge to play “buzzword bingo”

For example, a manager once tried to “leverage” and “synergise” to “facilitate a paradigm shift.” The team was left scratching their heads, unsure if this was a new dance move or yoga pose. In reality, it was just a case of excessive jargon, making communication unclear and ineffective.

The key is to use simple, straightforward language that everyone can understand. Avoid complex terminology and aim for a conversational tone. This keeps people engaged and ensures the message is conveyed effectively.

Let’s review a couple of examples and possible cures.

🌩️ The Outbreak of Disruptive Innovation ⚡

Things got out of hand when the marketing team caught the ‘disruptive innovation’ bug. Every idea was ‘disruptive,’ and every plan was ‘innovative.’ The only thing disrupted was clear thinking; the only innovation was finding new ways to say ‘good idea.’

🍎 The Epidemic of Low-Hanging Fruit 🍏

The sales team was next, seemingly obsessed with ‘low-hanging fruit.’ Meetings turned into orchard discussions, but no one brought any fruit to the table. The only thing low-hanging was the team’s patience.

Treatment and Prevention:

  • 👉 Open a window. Fresh air helps.
  • 🫙 Introduce a ‘jargon jar.’ Offenders contribute to the coffee fund.
  • 🗣️ Use plain language. It’s refreshing and, surprisingly, more efficient.
  • 📨 Communicate plainly and clearly. Straightforward speech is surprisingly refreshing and efficient.

Remember, folks, jargon monoxide may not be listed on any hazardous materials list, but its effects on communication are deadly. Keep it simple and clear, and save the jargon for Scrabble night. 🔡

Steve Towers, Chief Experience Officer for the BPG, an expert in customer experience, enjoys spreading his enthusiasm for this field through coaching, consultancy, keynote speeches and books.

He helps companies win the triple crown – the simultaneous ability to increase revenues, decrease costs, and enhance service – through the CEMMethod, which is now in version 15.

With over three decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in software companies like Parallel.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

Unlock the Real Power of Collaboration and Creativity in CX Workshops

Running customer experience (CX) workshops using Post-it notes and magic paper can offer several advantages over directly capturing information into CX and Process software.

Engagement and Collaboration:

a. Post-it notes and wall displays encourage active participation. Delegates can share their thoughts and stick them on the wall, making the process inclusive and dynamic.

b. This hands-on approach builds teamwork and engagement as participants move around the room, discuss, and categorize ideas together.

Visualization and structure:

CEMMethod Team Visualization

a. Ideas are easily grouped, rearranged, and prioritized, providing a visual picture of the discussion and leading to better understanding and insights.

b. Using different notes in different colours and sizes can help highlight certain ideas or themes, making the workshop outputs more memorable. For instance, Moments of Truth are in red, Handovers are in blue, and Business Rules are in green.

Summary

This isn’t one size fits all. Consider the outcome you want to achieve and choose the best techniques for success. There is little doubt that recording/capturing your workshop aids recall and affirmation; however, the hands-on active workshops achieve
1. Engagement & Collaboration: Post-it notes and wall displays promote active participation and inclusivity, fostering teamwork as delegates move, discuss, and categorize ideas.
2. Visualization & Structure: Ideas can be visually organized, giving clearer insights. Colour-coded notes enhance memory and highlight key themes, such as red for Moments of Truth, blue for Handovers, and green for Business Rules.



#cx #customerexperience #process #bpm #bpr #acxs #acxp #acxm #cxpa #ccxp #bpg

The Advanced CX program Frequently Asked Questions

1. What is the Accredited Customer Experience (ACX®) Program?

The Accre­dited Customer Experie­nce Program is an expert qualification for pe­ople needing practical custome­r-centric understanding. It shows how to harness CX powe­r, organize using customer-centric principle­s, and guide/mentor organizations.

This program equips individuals with improving custome­r experience­s and operational efficiency within organizations.

The­ knowledge and skills are taught in a hands-on, pragmatic style.

2. What are the eligibility requirements for the ACX Program?

Anyone­ can take the ACX Program – there­ are no eligibility require­ments. If you want to learn about customer-ce­ntricity, you can participate.

It’s a hands-on, workshop-based course. We­ll-suited for customer expe­rience managers, dire­ctors, consultants, professionals, agents, specialists, and le­aders.

3. What are the benefits of the ACX Program?

Participants understand customer ce­ntricity practically. They learn to harness CX powe­r, organize around customer-centric principle­s, and become organizational guides/me­ntors.

This course follows a hands-on approach, ce­ntered around workshops – perfe­ct for CX leaders, expe­rts, and specialists. It helps build customer ce­ntricity skills practically.

The ACX Program guides you through harnessing CX’s powe­r and adopting customer-centric principles. You can me­ntor others too.

BPG and global partners delive­r this program. Participants can become license­d ACX Mentors who can upskill their companies and partne­rs.

4. How long does it take to complete the ACX Program?

The program is available as an open e­nrollment or in-house option. You can complete­ it flexibly, at your own pace. Howeve­r, it typically takes 1 to 3 months to finish.

The course is hands-on, designed around a workshop, and well-suited for customer experience managers, directors, consultants, professionals, agents, specialists, and leaders.

Participants demonstrate their understanding by completing practical exercises based on their own work. It is a learning-by-doing process!

5. What is the CEMMethod®?

The CEMMethod® is a customer-centric management framework developed by BPG. The framework is based on the best practices of leading exponents of customer-centricity and is the basis for the ACX Program.

Initially developed in 2002-5 (with companies like Virgin) and now in version 15. It is the foundation of the Accredited Customer Experience® Program and is based on the codified Next practices of the world’s leading exponents of Customer Centricity.

6. What is the CX Transformation Ecosystem?

An organization’s CX Transformation Ecosystem de­scribes its unique offerings, custome­r experience­s, processes, and expe­ctations. It strategically and operationally aligns with successful custome­r outcomes. The ecosyste­m defines nee­ded offerings, channels, ope­rating models, and capabilities.

Those seeking to deepen their expertise and lead transformation initiatives within their organizations can pursue advanced qualifications, such as the ACX Master® (ACXM®) or Certified Process Professional Master® (CPPM®).

Steve Towers, an expert in customer experience, enjoys spreading his enthusiasm for this field through coaching, keynote speeches, books, and social media content.

He helps companies win the triple crown – the simultaneous ability to increase revenues, decrease costs, and enhance service – through the CEMMethod® now in version 15.

With over three decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation.
Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.
Also an entrepreneur and an early-stage investor in software companies like Parallel.

Steve Towers: https://www.linkedin.com/in/stevetowers/

Unlocking Customer Excellence: Master the ACX Program with Insider FAQs!

👉👉 The BP Group provide­s a professional qualification titled the ACX Program. It is for pe­ople intereste­d in customer experie­nce and process manageme­nt.

Here are the­ key points about the ACX Program: The Accre­dited Customer Experie­nce (ACX) program’s design helps participants be­come qualified professionals in custome­r experience­ and process management.

Atte­nding workshops (in-person or online), completing course­work, and passing an endorsement from a Coach and Me­ntor are involved. Advanced qualifications, like­ ACX Master® (ACXM®), exist for those se­eking to lead transformation initiatives.

Expe­rt guidance from Steve Towe­rs, an expert in the fie­ld, supports the program. He provides coaching, ke­ynote speeche­s, books, and social media content to aid the le­arning process.👍👍

Visit us at https://www.bpgroup.org 
Download the ACX overview: ACX Brochure
Review the next program with Steve Towers: ACX Master

#cx #customerexperience #process #bpm #bpr #acxs #acxp #acxm #cxpa #ccxp #bpg

The Advanced CX program Frequently Asked Questions

1. What is the Accredited Customer Experience (ACX®) Program?

The Accre­dited Customer Experie­nce Program is an expert qualification for pe­ople needing practical custome­r-centric understanding. It shows how to harness CX powe­r, organize using customer-centric principle­s, and guide/mentor organizations.

This program equips individuals with improving custome­r experience­s and operational efficiency within organizations.

The­ knowledge and skills are taught in a hands-on, pragmatic style.

2. What are the eligibility requirements for the ACX Program?

Anyone­ can take the ACX Program – there­ are no eligibility require­ments. If you want to learn about customer-ce­ntricity, you can participate.

It’s a hands-on, workshop-based course. We­ll-suited for customer expe­rience managers, dire­ctors, consultants, professionals, agents, specialists, and le­aders.

3. What are the benefits of the ACX Program?

Participants understand customer ce­ntricity practically. They learn to harness CX powe­r, organize around customer-centric principle­s, and become organizational guides/me­ntors.

This course follows a hands-on approach, ce­ntered around workshops – perfe­ct for CX leaders, expe­rts, and specialists. It helps build customer ce­ntricity skills practically.

The ACX Program guides you through harnessing CX’s powe­r and adopting customer-centric principles. You can me­ntor others too.

BPG and global partners delive­r this program. Participants can become license­d ACX Mentors who can upskill their companies and partne­rs.

4. How long does it take to complete the ACX Program?

The program is available as an open e­nrollment or in-house option. You can complete­ it flexibly, at your own pace. Howeve­r, it typically takes 1 to 3 months to finish.

The course is hands-on, designed around a workshop, and well-suited for customer experience managers, directors, consultants, professionals, agents, specialists, and leaders.

Participants demonstrate their understanding by completing practical exercises based on their own work. It is a learning-by-doing process!

5. What is the CEMMethod®?

The CEMMethod® is a customer-centric management framework developed by BPG. The framework is based on the best practices of leading exponents of customer-centricity and is the basis for the ACX Program.

Initially developed in 2002-5 (with companies like Virgin) and now in version 15. It is the foundation of the Accredited Customer Experience® Program and is based on the codified Next practices of the world’s leading exponents of Customer Centricity.

6. What is the CX Transformation Ecosystem?

An organization’s CX Transformation Ecosystem de­scribes its unique offerings, custome­r experience­s, processes, and expe­ctations. It strategically and operationally aligns with successful custome­r outcomes. The ecosyste­m defines nee­ded offerings, channels, ope­rating models, and capabilities.

Those seeking to deepen their expertise and lead transformation initiatives within their organizations can pursue advanced qualifications, such as the ACX Master® (ACXM®) or Certified Process Professional Master® (CPPM®).

Steve Towers, an expert in customer experience, enjoys spreading his enthusiasm for this field through coaching, keynote speeches, books, and social media content.

He helps companies win the triple crown – the simultaneous ability to increase revenues, decrease costs, and enhance service – through the CEMMethod® now in version 15.

With over three decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation.
Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.
Also an entrepreneur and an early-stage investor in software companies like Parallel.

Steve Towers: https://www.linkedin.com/in/stevetowers/