A brainstorming effort

[Sudaman TM]

Dear class buddies,

 

We have been quiet for a while...I have been trying to answer the below questions in my own way and i thought i will virtual brainstorm with you.

 

How do you measure customer experience?
If it is improved product sales then, how do you measure contribution margin of customer experience to this improved product sales?
How can analytics help in answering these questions?

 

Best regards,

Sudaman

[Rajendra Singh]

Nice to hear.

My 2 cents are as follows-

1. How do you measure customer experience?

Through net promoter score.

2. If it is improved product sales then, how do you measure contribution margin of customer experience to this improved product sales?

Through attribution analysis.

 Conjoint analysis can be on option.

3. How can analytics help in answering these questions?

These questions are related to past- the events have already happened. It is an anlysis of why it happened.

Descriptive Analytics will be good option.

I am sure worthier contribution will come from the honorable friends.

Best regards,

Rajendra 

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[G A SASTRIY]

1.Customer Experience is a sum of all the experiences that the customer has right from search to post sales.

In various categories these different phases have importance as per the category needs.

In case of FMCG the search and presales tend to have higher importance, however in auto sector the post sales service is also equally important.Coming to the measurement Net promoter score gives us the advocacy of the product or service. It is an overall one  number representation. This is used by corporates.

The other way is to get all the dimensions from presales to post sales to service mapped and guage satisfaction at each level, this would give us a reading at granular levels.Then overall advocacy and repaurchase could be further calculated.

There are several models most of them rergression based like the TRIM model from TNS, which work on the above principle..

 

2. If it is to understand the impact of the improved product sales owing to a particular experience one can think of a pre and post experience model.

For example we are introduing few dimensions for better experince and engagement of our customers, we wanted to know the impact of the same and the lift that this would provide. We have conduted a pre exercise mapping the important dimensions of customer experience and engagement. We will conduct a post once we complete the ground level implentations.

 

3.Here like Rajendra mentioned Descriptive analytics could be useful.

If we can capture the data of the customers at regular intervals then we can build a predictive model as well.

 

Regards

Sastry

[Sudaman TM]

Awesome discussion Rajendra Singh sir and Sastry...NPS is indeed a score that has been floating around but has always been correlated to revenue/ profit increase. So why not directly revenue or profit increase with a proper attribution analysis to figure out the lift of implemented improvements?

More thoughts, group?

Best regards

Sudaman

[Srinivas Addanki]

HI Sudaman,

In addition to our Raj and Sastry's excellent points, below are couple of points from my side:

1. Loyalty towards your brand/product indicated by "repeat" buys.

2. Number of new customers that you "acquired" that are "referred" by your existing customer base.

3. Surveys to understand customer's perceived value (are they buying your product because it was pitched well (improved product sales), or because it is innovative, or it is great product backed by excellent customer service (because, as you know, you must have a great product to begin with and supported by top notch customer experience/service.

4. And our usual suspects: Customer churn and Customer retention.

Thanks,

Srini Addanki

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Date: Thu, 19 Nov 2015 14:28:26 +0100
Subject: Re: A brainstorming effort
From: sudaman.ii...@gmail.com
To: gasa...@gmail.com
CC: rajendr...@gmail.com; iimb...@googlegroups.com

[Sudaman TM]

Awesome discussion. Thanks to you all. I guess we should continue to discuss interesting topics to keep this group going. 

Best regards,

Sudaman

[Srinivas Addanki]

Dear All,

Trust things are going well at your end. 

Wanted to check if anyone is designing/working on BIG Data platform architecture(s) based on Vertica and Hadoop Database.

I am working on designing a architecture based on databases (Vertica/Hadoop) designed for handling large amounts of data and also have a presentation (Tableau) layer on top of it for visualization. 

Want to exchange notes, best practices, and pitfalls to avoid. Looking forward to your replies.

Thank you so much,

Srini Addanki