In previous blog posts, I describe a brand-new finding from Gartner for Customer Service & Support Leaders which details the impact that we can have on customer loyalty. In short, Service & Support has the ability to significantly boost a customer’s loyalty by delivering Value Enhancement (VE) during service interactions. My previous posts cover both an overview of VE and the activities that drive VE, so for this post we’re going to focus on the steps Service & Support leaders should take to begin implementing a VE strategy. These steps will help to drive loyalty outcomes that, until very recently, were thought to be out of reach.
Once you understand what VE activities sound like in action and identify which activities are most suited to your organization, the next step is to establish which service interaction types have the best chance for success with VE activities. Value enhancement is not going to be the right strategy for every single interaction, and sometimes it might be best to just provide a low effort experience (i.e. when a customer calls in to complain). Therefore, it is crucial to identify the specific scenarios where customers would be accepting of for your chosen VE activities to occur by utilizing the methods below:
How to Identify Signals of Openness to Value Enhancement
Start with the data you have:
Reduce time to deploy by starting with the high-quality data that you have — high-quality for both accuracy and how quickly that data is updated and processed. Additionally, consider choosing initial interaction types with data that is both easily accessible and has a demonstrable financial impact.
Identify Segments Best Suited for Value Enhancement:
Identify customer traits or segments that are more open to customer improvement conversations, e.g., new customers, customer persona, issue type. A good place to start is by looking at customer usage and historical attrition data to help pinpoint the segments that are most in need of value-enhancing activities.
Leverage Frontline Reps:
Conduct focus groups or interviews with high performing reps who might already be conducting VE activities organically during customer conversations to better understand their decision-making process and to help equip all reps with guidance on customer improvement principles down the line.
Predict Value Enhancement with Analytics:
Use a predictive model to assign customers a score indicating the likelihood of success or the need for customer improvement conversations. Rather than relying on the customer and employee judgment, utilizing a dynamic decisioning engine that sits across all its channels helps take the guesswork out of VE activity deployment.
Service Leaders should start small by identifying one VE scenario with predetermined measures of success that can be tied back to planned value enhancement activities. Then over time you will be able to expand to additional VE activities once ROI is demonstrated on the first.
For more information on our new research, Driving Customer Loyalty and Retention Through Service, schedule an interaction with a Gartner representative today.