Customer Journey Maps Customer Journeys for Wonderful Life

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Customer Journey Maps Customer Journeys for Wonderful Life Insurance Company Follow the story of

Customer Journey Maps Customer Journeys for Wonderful Life Insurance Company Follow the story of Audrey as she guides her firm through the successes and challenges of Digital Transformation https: //jonscheele. com/the-butterfly-a-digital-transformation-journey

Customer Journey Model • The customer journey is a progression from being unaware, through

Customer Journey Model • The customer journey is a progression from being unaware, through awareness and evaluation, purchasing insurance or an investment product, and post-purchase experience. • Each stage of the customer journey is an opportunity for the firm to deepen the client relationship and deliver value. • Note that the firm doesn’t own all the customer touchpoints. • Wonderful Life markets directly to customers through its own channel, web site, advisors and contact centre. Its products are also distributed by independent agents, bank partners and affiliates (mostly membership-based organisations providing value-added services to their members). Discover Evaluate Advocate Renew or Leave Buy Experience Source: Independent Insurance Agents & Brokers of America, http: //bit. ly/2 q. PHXl. T 2

The Omni-Channel Customer Journey The customer journey can take several paths. It is determined

The Omni-Channel Customer Journey The customer journey can take several paths. It is determined by: • The customer’s goals and aspirations • Changes in the customer’s needs as they progress through life stages • The sources of information they seek and their preferred touchpoints for interaction The firm must therefore establish organisational capabilities, processes and systems to support the customer through multiple possible paths. This requires the ability for each touchpoint (human or machine) to be aware of prior interactions and the customer’s stated goals. Source: Strategy Meets Action, “The Insurance Customer Journey in the Digital Age”, http: //bit. ly/2 rs. WDEN 3

Discover Customer Journey – Discover Phase Activity Action Search Prospect searches online for local

Discover Customer Journey – Discover Phase Activity Action Search Prospect searches online for local or specialist agent “Find an Agent” on own or partner web site Response Improved Search Complete agent Engine Optimisation, profiles on own and publish content all affiliate sites Activity Action Social Media Personal Contact Prospect looks for recommendations and/or views in social media Personal Contact Friends, relatives, co -workers Engage and publish content on target’s preferred channels Build brand awareness through advertising, etc. Company or Partner Web Site Prospect accesses own or partner website using desktop or mobile device to learn about the firm including checking customer reviews, areas of expertise and products/services. Response Clear informational content, mobile device compatibility, adaptive design. Channels: Direct Agent Bank Affiliate 4

Evaluate Customer Journey – Evaluate Phase Activity Web Site Compares Rates Action Prospect evaluates

Evaluate Customer Journey – Evaluate Phase Activity Web Site Compares Rates Action Prospect evaluates website for information regarding products, advisor availability (hours of availability, scheduling), blogs, contact options (email, phone, chat, social media, etc. ) and selfservice component. Response Keep content clear, current Real-time rates on own and easy to navigate. website may provide enough information to reduce additional shopping. Channels: Direct Agent Prospect looks online for comparison of rates and coverage by aggregators (Compare. The. Market, Compare. FIRST, etc. ) Bank Validates Firm Quality Prospect looks for validation from consumer advocacy groups (Choice, CASE, BBB, etc. ) Regularly solicit reviews on website, when using social media. Monitor and reply to reviews and consumer advocacy group reports. Affiliate 5

Customer Journey – Buy Phase Buy Channel: Direct Online Chat Assistance: Phone Affiliate Advisor

Customer Journey – Buy Phase Buy Channel: Direct Online Chat Assistance: Phone Affiliate Advisor Client seeks assistance from touchpoint of their choice Provide multiple touchpoints, each aware of prior conversations with client. Application Process: Bank Agent Signature Payment Processing Client seeks a simple and transparent process, with options for electronic forms, signatures and payment. Simplify the application process. Provide e-signature, payment via EFT, credit card, mobile or other electronic means. Reduce the amount the client must enter by accessing online databases from government or third party providers. 6

Experience Customer Journey – Experience Phase Channel: Mobile Direct Education Bank Agent Value Add

Experience Customer Journey – Experience Phase Channel: Mobile Direct Education Bank Agent Value Add Affiliate Access Preferences Proactive Client expects mobile and other options for managing account. Client access website for educational content on their insurance. Nurture client relationship by offering value added services Client expects easy access to policy forms and information. Client wants to set preferences for contact methods (email, text, letter, etc. ) Client expects firm to look out for their needs, life changes, etc. Provide mobile options for payment enquiry, claims. Provide content relevant to target market (blog, video) Advise clients of services available to them at no charge Provide portal to generate certificates and download documents. Provide contact methods with security appropriate for the topic. Create a “Client Nurturing Plan”, identifying personalised life events. 7

Renew or Leave Customer Journey – Renew or Leave Channel: Activity Direct Agent Check

Renew or Leave Customer Journey – Renew or Leave Channel: Activity Direct Agent Check Rates Bank Renewal Increase Explanation Affiliate Claims Experience Action Client shops around to see if others offer better rates. Firm proactively contacts client to explain increases. Client experiences claim, seeks guidance on claim. Response Firm must use system alerts/reminders to contact client well before renewal. Renewal proposal to include comparative quotes and rate increase explanations. Establish procedure for reviewing renewals and reaching out to those with increases or approaching life changes that impact rate or coverage needs. Prompt response on claims, after-hours or online options for reporting. Advice available on submitting claim, and firm provides updates on claim status. 8

Advocate Customer Journey – Advocate Phase Direct Channel: Activity Agent Web Review Bank Video

Advocate Customer Journey – Advocate Phase Direct Channel: Activity Agent Web Review Bank Video Testimonial Action Client writes review Client agrees to provide a video testimonial Response Request client post Post to social and positive reviews on website pages firm and social sites. Firm to keep refreshed with new testimonials Affiliate Blog Post Client authorises firm to reference client in blog Craft honest blog entry, expand on client’s comments 9

Factors in a Customer Journey Scorecard Episodes End to End Language A journey comprises

Factors in a Customer Journey Scorecard Episodes End to End Language A journey comprises several activities. The experience of each one can make or break the relationship. It’s not enough to measure customer satisfaction on any single touchpoint; what matters is the customer’s experience across the entire journey. Describe journey events in the way a customer would. Channels A “new-client onboarding” journey might include a website visit, a phone call, an advisor or agent meeting, and a follow-up call during application processing. Duration Individual customer journeys can vary greatly in duration, due to the number of client interactions, and the time elapsed between them. Repetition Journeys are repeatable—and can be repeated for a meaningful percentage of customers. Source: Mc. Kinsey, “From Touchpoints to Customer Journeys”, http: //bit. ly/2 q. Tt. K 7 C 10