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Building Customer - Centric Products

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Vamsi Krishna Wuppalapati
Vamsi Krishna Wuppalapati

Why is customer experience indispensable today? In today's world, everything that we look at from building a great product is entangled with experience of the users, whether, it is a B2C product or B2B product. You walk-in to a retail shop like Croma to check the VR experience for your Samsung mobile, deploy a CRM software like Zendesk or play poker with gaming apps like Zynga. All these products invest heavily on innovation putting the customer/user in mind. How is CX changing the way products are built? Lets take Amazon as an example, wherein, the web or app have basic features of search and browse with impeccable variety of categories and SKUs. However, they emphase their operations heavily in order to provide the track and trace info to the customers and put customer experience as top priority, so that operational products enable the experience. Take a look at a traditional Swedish furniture company - IKEA (in the link) and how the firm is focusing on building Augmented reality to experience their products from app to explore and buy the furniture. How are customers perceiving a product as experience? Lets explore more for the answers.

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Building Customer Centric Products by Vamsi Krishna
Four Pillars of CX Products
The Focus on end-end journey Source: McKinsey Always focus on end-end journey and then get into low level details of the each customer touch point. The illustration below highlights, how the overall journey is Mutually exclusive even with individual touch points scoring high in CSAT or NPS
Customer touch points Source: McKinsey Identify the customer touch point and the importance value attached to each touch point to prioritize the products and XP measure.
Product enabling CX Source: McKinsey - Building products for measuring CX is an imperative today. - As we know that every feature can’t be of high priority to build CX products, hence, focus on some measures - Map the features according to Performance vs importance - Add the success metrics and derive the importance of it post roll out as well
NPS (Net Promoter Score) Source: McKinsey Every consumer centric firm is looking towards measuring customer experience (CX) to understand where they stand w.r.t Customer’s expectations on their products & services It is a mandate to validate and rollout features to measure customer experience, which will provide feedback on the products NPS (Net promoter score) is measured to assess the customer’s feedback for the requied important cust0mer touch points. How do you measure NPS? A common question looks like - Please provide your overall experience with company ABC on a scale of 1-10? Scores between 1-6 are detractors, Quick reference: https://en.wikipedia.org/wiki/Net_Promoter
NPS Measurement Plan - Metrics Net Promoter Score (NPS) City Respondent s Percentage NPS Promoter Detractor Neutral CSAT score - Pre order (Sample) Website 3.8 mSite 3.1 App 3.9 Product Taxonomy 3.4 Checkout/Payments 4.1 CSAT score - Post order (Sample) KYC/Rentals 3.8 Delivery slot time 2.9 Delivery 3.2 Customer XP (CC/CI) 3.4 Returns 3.9 Tools:
The Four Pillars of CX (Measuring XP) Customer Touch PointsFocus on End-end journey Product Enabling XP NPS Source: McKinsey
Customer/User Segmentation
Target audience - Personas
Customer Persona (Example) Who am I? - I am a 28 year old, smart and young professional - I Work at Swiggy as Product Manager - I Moved to Blore last week What I would like to do? - Would rent a house - Would buy furniture and appliances - Would live a comfortable life - What is my problem? - EMIs for bought furniture - Savings potential has gone down after moving to Bangalore Geeky Girish
Product Themes & Must haves
Delight: - We have been constantly looking at FB/Twitter escalations, understand the reasons to resolve them immediately and take the feedback to improve our Process - Some of the irated customers have not only became neutral, but also turned into promoters ☺ - We have published 10 videos as of now and have sent goodies to 4 customers. Couple of 1 star customers on app have been converted to 5. - Below appreciations mentioned are from Social (FB/Twitter/Detractors turned to promoters etc.,) Customer Delight (Example)
Growth Levers - Product Themes Customer Sales capabilityDelight! Feedback & NPS Mojo Buddy
Levers... Must haves
Lets become a PM for sometime!! Problem Statement: Reliance Retail India, launched subscription model in Nov 2016 across PAN India - 8 metros, provides subscriptions for all categories available and give an option to the user to buy after using the subscription for sometime. Currently, there are 1 million+ app downloads and 25 Million web impressions. Next top prio of Reliance Retail’s CEO is to build great CX products across the customer Journey. Solution: As a Product guy, how would you build a Product strategy around Customer Xperience and brief it in 5 Points below: - Value Prop of solution - Customer Touch points - Short term and Long term goals - ROI - Success Metrics
Questions

More Related Content

Building Customer - Centric Products

  • 2. Four Pillars of CX Products
  • 3. The Focus on end-end journey Source: McKinsey Always focus on end-end journey and then get into low level details of the each customer touch point. The illustration below highlights, how the overall journey is Mutually exclusive even with individual touch points scoring high in CSAT or NPS
  • 4. Customer touch points Source: McKinsey Identify the customer touch point and the importance value attached to each touch point to prioritize the products and XP measure.
  • 5. Product enabling CX Source: McKinsey - Building products for measuring CX is an imperative today. - As we know that every feature can’t be of high priority to build CX products, hence, focus on some measures - Map the features according to Performance vs importance - Add the success metrics and derive the importance of it post roll out as well
  • 6. NPS (Net Promoter Score) Source: McKinsey Every consumer centric firm is looking towards measuring customer experience (CX) to understand where they stand w.r.t Customer’s expectations on their products & services It is a mandate to validate and rollout features to measure customer experience, which will provide feedback on the products NPS (Net promoter score) is measured to assess the customer’s feedback for the requied important cust0mer touch points. How do you measure NPS? A common question looks like - Please provide your overall experience with company ABC on a scale of 1-10? Scores between 1-6 are detractors, Quick reference: https://en.wikipedia.org/wiki/Net_Promoter
  • 7. NPS Measurement Plan - Metrics Net Promoter Score (NPS) City Respondent s Percentage NPS Promoter Detractor Neutral CSAT score - Pre order (Sample) Website 3.8 mSite 3.1 App 3.9 Product Taxonomy 3.4 Checkout/Payments 4.1 CSAT score - Post order (Sample) KYC/Rentals 3.8 Delivery slot time 2.9 Delivery 3.2 Customer XP (CC/CI) 3.4 Returns 3.9 Tools:
  • 8. The Four Pillars of CX (Measuring XP) Customer Touch PointsFocus on End-end journey Product Enabling XP NPS Source: McKinsey
  • 10. Target audience - Personas
  • 11. Customer Persona (Example) Who am I? - I am a 28 year old, smart and young professional - I Work at Swiggy as Product Manager - I Moved to Blore last week What I would like to do? - Would rent a house - Would buy furniture and appliances - Would live a comfortable life - What is my problem? - EMIs for bought furniture - Savings potential has gone down after moving to Bangalore Geeky Girish
  • 12. Product Themes & Must haves
  • 13. Delight: - We have been constantly looking at FB/Twitter escalations, understand the reasons to resolve them immediately and take the feedback to improve our Process - Some of the irated customers have not only became neutral, but also turned into promoters ☺ - We have published 10 videos as of now and have sent goodies to 4 customers. Couple of 1 star customers on app have been converted to 5. - Below appreciations mentioned are from Social (FB/Twitter/Detractors turned to promoters etc.,) Customer Delight (Example)
  • 14. Growth Levers - Product Themes Customer Sales capabilityDelight! Feedback & NPS Mojo Buddy
  • 16. Lets become a PM for sometime!! Problem Statement: Reliance Retail India, launched subscription model in Nov 2016 across PAN India - 8 metros, provides subscriptions for all categories available and give an option to the user to buy after using the subscription for sometime. Currently, there are 1 million+ app downloads and 25 Million web impressions. Next top prio of Reliance Retail’s CEO is to build great CX products across the customer Journey. Solution: As a Product guy, how would you build a Product strategy around Customer Xperience and brief it in 5 Points below: - Value Prop of solution - Customer Touch points - Short term and Long term goals - ROI - Success Metrics