Forrester has recently released a guide entitled: “Journey Maps and CX Transformation”, which goes through how to use existing journey maps as methods to create investments, interest in CX, and boost performances. The guide will cover such topics as:
- How journey maps can act like springboards.
- Working on CX projects that will have a greater impact on business.
- CX measurement and how to improve its efficiency.
- How to drive loyalty through design experience.
Getting more mileage from existing journey maps
Forrester talks about journey maps, as well as the rest of your CX arsenal, as being a way of thinking that it entails and the actions it drives. Not to be viewed as the end game. Journey maps are flexible tools where it can pinpoint opportunities for retaining more customers, increasing customer satisfaction, improving EX, and lowering costs. Forrester’s guide goes into details on what question you should ask before you go into transformational work while double-checking your journey maps.
Prioritising CX projects by using journey maps
The guide highlights that 77 % of CX organisations lack a framework when it comes to prioritising projects. This can increase the risks of wasted resources, negative ROI, diminishing buy-in from stakeholders as well as sinking customer satisfaction.
The guide goes into why businesses should establish a journey-based prioritisation framework for CX projects. As well as to map it from the customer’s point of view so that they can find pain points.
Improve CX measurement efficacy
“Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”, a quote by John Wanamaker fully embodies the issues that come from a lack of varied techniques. Forrester notes that 70 % of companies do not go beyond surveys to measure CX.
This leads to a limited understanding of how customers’ sentiments change throughout a journey. Furthermore, only 25 % of companies mine call transcripts, while a small 18 % incorporate product usage data.
Journey maps allow companies to pinpoint real problems as well as to measure whether or not the efforts are successful at solving the issues. Companies are encouraged to, once again, look from the point of view of the customer, not the point of view of the business. This will help them see that the shoes do not fit, not that the in-store return experience is a CX issue. Read the full report to find out the “shoe story”.
Embed customer insights
Following Lloyds Banking Group’s journey-centric digital transformation organisations could achieve a revenue increase between 10 and 20 %, as well as cost reductions of between 15 and 25 among others. The whole point of a journey map is to start creating journey-centricity which is an ongoing process. However, doing so could improve CX.
Drive loyalty through design experience
What do Bank of Montreal (BMO), The Economist, E.ON, and Lloyds Banking Group (LBG) have in common? They have been shifting their focus away from channels and touchpoints. In doing so they have moved toward journey maps instead, the customers’ lived realities. Forcing themselves to mature from looking inside-out to outside-in mindset. Increasing their CX. In doing this LBG, for example:
- Improved their digital offerings, making them the most capable retail mobile banking services in the UK.
- Happier customers, increasing to 78 % in positive feedback.
- More productive employees where value-add activities increased by 40%.
- Boost in sales, where the overall credit acceptance and path to purchase increase by 40 %.
- Accelerated speed-to-market.
This is only a taste of what information Forrester’s “Journey Maps and CX Transformation” guide has to offer. To read the details, download the full free guide here.