Improving Your
Customer Experience to
Drive Smart Growth By Jeffrey Somers July 2015
Improving Your Customer Experience to Drive Smart Growth Most companies understand that improving their customer experience has financial benefits, but few realize the magnitude of this potential value. Even fewer have a methodical process for achieving results. While there are many statistics that demonstrate the value of the customer experience, below are some of the most telling:
86%
of consumers will pay more for a better customer experience1
• It takes 12 positive experiences to make up for one unresolved negative experience2 • On average, Americans tell 9 people about good experiences, and 16 about poor experiences3 • Loyal customers are worth up to 10 times as much as their first purchase4 • A 2% increase in customer retention has the same effect as decreasing costs by 10%5 • It costs 6-7 times more to acquire a new customer than retain an existing one6
Enhancing the customer experience impacts many departments, including Marketing, Strategy, Operations, Technology, and Channel Management. Below is a list of issues that many businesses struggle with, accompanied by examples of how an improved customer experience can both address them and reap additional, tangible rewards.
BUSINESS ISSUE
BENEFITS TO DRIVE GROWTH
Decrease in revenue
Increased revenues through greater loyalty (retention), positive word of mouth (acquisition), and share of wallet (revenue per customer)
High customer defection
Increased customer satisfaction, leading to higher retention rates
Difficulty attracting new customers
Increased Net Promoter Score (NPS) and positive word of mouth, translating to customer acquisition
Low share of customer wallet
Increased customer share of wallet through enhanced cross-sell and up-sell
High cost of customer service operations
Decreased cost of customer service operations (e.g., fewer calls, shorter call duration)
Inefficient use of channels, e.g. low value transactions conducted in high cost channels
Optimized use of each customer-facing channel (offline, online, social media)
Customer Experience Impact (CEI) Report, 2011 “Understanding Customers,” Ruby Newell-Legner 3 American Express Survey, 2011 4 White House Office of Consumer Affairs 5 Leading on the Edge of Chaos, Emmet Murphy & Mark Murphy, 2002 6 Bain & Company 1 2
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Improving Your Customer Experience to Drive Smart Growth In terms of quantifying these benefits, Forrester has estimated the annual revenue change from a modest shift in customer experience for a $10 billion company in a generic industry:7
Additional research has determined that a $1 billion fast-food chain making incremental customer experience improvements could generate the following revenue increases over three years:8
Cross-Sell / Up-Sell (buying more products)
Cross-Sell / Up-Sell (repurchasers)
$177 million
$64 million
Reduction in churn (increased retention):
$116 million
Reduction in churn (increased retention):
Word of mouth (new customers):
$103 million
$120 million
Word of mouth (new customers):
$86 million
WHAT IS CUSTOMER EXPERIENCE? Customer experience can be defined as the collective set of touchpoints and interactions across all channels over the entire lifecycle of a customer relationship (from awareness through usage to the decision whether to re-purchase). These cumulative impressions create an emotional bond between a brand and its customers, in a deeply contextual way. When companies learn to deliver and remain engaged with customers through effectively crafted experiences, they build enduring relationships, differentiate themselves from competitors, and grow more profitable businesses.
PRICE
In purely economic terms, the goal of improving the customer experience is to shift the demand curve.
P
Shifting the demand curve by enhancing the customer experience Differentiated, Compelling customer experience Q
Undifferentiated, Non Compelling customer experience
QUANTITY Forrester, 2011 Temkin Group, 2012
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Improving Your Customer Experience to Drive Smart Growth
The following three examples bring customer experience efforts and their impacts to life.
LEADING CAR RENTAL COMPANY The company performed three tasks at several airport locations chosen based on target geographies. 1.
Mapped out the current customer experience with an eye toward improvement opportunities, 2. Consulted with frontline employees to identify root causes and find solutions, and 3. Coordinated activities to maximize service speed. One region found that the company often failed to clean cars during peak demand. They installed a buzzer between the rental counter and the car lot, enabling the employees at the counter to alert car cleaners that they would soon need more cars.
RBS CITIZENS FINANCIAL GROUP The company proved that sometimes a simple change can dramatically improve the customer experience. RBS Citizens noticed that many of their customers receiving new debit cards had been asking that their PINs be resent. The customer experience team found that customers’ debit cards typically came in the mail five days ahead of the PINs needed to use them; customers were requesting new PINs before the original ones had even arrived. Now RBS Citizens mails cards and PINs at the same time.
WEIS MARKETS In May of 2015, Jonathan Weis, Weis Markets’ Chairman and CEO, stated, “We continue to make long-term investments in growing our sales and are encouraged by our results. Our first quarter sales increase was the result of improved every day pricing, disciplined promotions and an improved in-store experience.”
At the end of the pilot, the regions’ revenues from upselling had climbed 5% and the cost of servicing customers dropped 10%.9
According to Theresa McLaughlin, who leads RBS Citizens’ customer experience team, the number of PIN reorders dropped 54% within the first seven days.10
The company reported a 3.7% increase in Q1 of 2015 sales while same store sales increased 4.7%.11
MARKET STRATEGY GROUP APPROACH TO CUSTOMER EXPERIENCE DESIGN Market Strategy Group views customer experience design in a holistic way, focusing on aligning around customers to capture value by designing, delivering, and managing the appropriate branded customer experience. In order to achieve this objective, we advocate a six-phase approach. “The Truth About Customer Experience,” HBR September, 2013 “RBS Citizens: A Case Study in Improving Customer Experience,” American Banker, October 26, 2012 11 PRNewswire, May 1, 2015 9
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Improving Your Customer Experience to Drive Smart Growth
CUSTOMER EXPERIENCE DESIGN APPROACH Phase I
Phase II
Phase III
Phase IV
Phase V
Understand the Customer
Design the Experience
Enable the Experience
Execution Preparation
Deliver the Experience
OBJECTIVE
Phase VI Manage the Experience
Understand Current State Experience and Customer Needs
Create Desired Future State Experience
Determine Gaps Between Current State and Future State Experience
Create Roadmaps to Direct New Experience Implementation
Implement Roadmaps Across Operations, Organization, and Technology
PHASE I: UNDERSTAND THE CUSTOMER We begin by developing an understanding of the needs and desires of our client’s customers. Below is a list of high-level activities and desired outcomes from this phase.
DESIRED OUTCOMES • Understanding of customers’ needs, values, and expectations • Customer experience lifecycle map depicting all stages between customers and the company • Customer journey map showing the customer experience lifecycle stages and including touchpoints by channel • Determination of which touchpoints are pain points and which ones offer the ability to “delight” customers • High-level assessment of current capabilities to deliver on the customer experience (Operational, Organizational, Technological)
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Improving Your Customer Experience to Drive Smart Growth KEY ACTIVITIES • Review existing internal data / research on customer insights (e.g., customer satisfaction reports, segmentation analysis, secondary research, net promoter scores) to identify pain points and opportunities to delight • Review marketplace information pertaining to customer needs / wants (e.g., trade associations, third party vendors) • Interview key stakeholders to gain perspective on customer values and internal capabilities • Gather data via customers Quantitative research (surveys) Qualitative research (one-on-one interviews, focus groups) Mystery shopping • Create customer experience lifecycle map • Create customer journey map, starting with the customer experience lifecycle map and then adding touchpoints by channel • Review transactional data to determine additional customer pain points • Develop customer experience heat map, showing pain points (with severity) and opportunities to delight • Analyze current capabilities related to identified pain points and opportunities to delight, looking to uncover root causes and levers of dissatisfaction Research with customers (existing and prospective) is a critical information-gathering component. There are various types of customer data. The most emotionally bonding type is that of intent.
TYPES OF CUSTOMER RESEARCH DATA
Prod Purch uct ased Produ ct Usa ge Price P aid Age Incom e Gende r Ethnic ity
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d el Use Chann ase Purch ncy e Frequ ased Purch d n a r B aphy Geogr ize hold s e s u o H ge cle sta Lifecy
INCREASED EMOTION / BONDING EXPERIENCE
Price ity Pr nsitiv e Prefeorduct ences S el Chanennces Servic r e f e r e P Prefer ences Brandnces e Prefer
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Improving Your Customer Experience to Drive Smart Growth One key output of this phase is the current state customer journey map. Below is a sample customer journey map, taken (and condensed) from the Property & Casualty Insurance sector. It is comprised of three main elements: 1) Customer experience lifecycle (these are the seven stages across the top of the customer journey map from ‘Research Insurance Options’ through ‘Renew/Cancel Policy’), 2) Listing of touchpoints under each stage of the customer experience lifecycle, and 3) Depiction of the relevant channel(s) for each touchpoint (e.g., agent, phone, app, online, email, mail, online chat). Illustrative
CUSTOMER JOURNEY MAP (P&C INSURANCE) BUY
USE
Research Insurance Options
Purchase Insurance Coverage
Receive recommendations from family members / friends
Select coverage limits and deductibles
Receive a quote
Customer Onboarding
Create account preferences
Receive welcome kit
File a Claim
File a claim
Receive notification claim was received
RENEW
Pay Premium
Select payment options
Receive premium invoice
Request Service
Renew / Cancel Policy
Establish online account
Receive renewal notification
Make changes to account information
Inquire about policy changes (e.g., modify deductible)
Enroll in paperless notifications (e.g., premium notices)
Make a payment
Research online
Review brochures / pamphlets
Talk with agents / customer support
Select insurer
Make a payment
Receive onboarding follow-up communication
Check claim status
Receive claim adjudication notification
Make a payment
Receive payment confirmation
Cancel policy Contact insurer regarding policy question
Once we create the customer journey map and conduct customer research to understand pain points and opportunities to delight the customer, we create a “heat map” that visually depicts the current customer experience. We have found a heat map is a quick way to determine which touchpoints should be the primary focus of the customer experience design effort.
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Improving Your Customer Experience to Drive Smart Growth
CUSTOMER EXPERIENCE HEAT MAP (P&C INSURANCE) BUY
Research Insurance Options Receive recommendations from family members / friends
USE
Purchase Insurance Coverage Select coverage limits and deductibles
Receive a quote
Customer Onboarding
Create account preferences
Receive welcome kit
File a Claim
File a claim
Receive notification claim was received
Illustrative
RENEW
Pay Premium
Select payment options
Receive premium invoice
Request Service
Renew / Cancel Policy
Establish online account
Receive renewal notification
Make changes to account information
Inquire about policy changes (e.g., modify deductible)
Enroll in paperless notifications (e.g., premium notices)
Make a payment
Research online
Review brochures / pamphlets
Talk with agents / customer support
Select insurer
Receive onboarding follow-up communication
Make a payment
Severe Pain Point
Check claim status
Receive claim adjudication notification
Make a payment
Receive payment confirmation
Moderate Pain Point
Cancel policy Contact insurer regarding policy question
Opportunity to Delight
PHASE II: DESIGN THE EXPERIENCE The goal of Phase II is to design the future state experience. It is also the collaboration phase, as we work hand-in-hand with companies via workshops to achieve the future state design. We take the primary outputs from Phase I (customer journey map, heat map, customer pain points / opportunities to delight) and brainstorm a new experience that alleviates pain points and takes advantage of touchpoints where the customer can be delighted. Once the future state experience has been designed, it can be converted to a more detailed blueprint that describes new touchpoints across all channels. The following table outlines the outcomes and activities to achieve these goals.
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Improving Your Customer Experience to Drive Smart Growth DESIRED OUTCOMES • • • • •
Future state customer experience design that is more aligned with customer needs Differentiated experience by customer segment Detailed future state experience blueprint Customer personas that describe the new experience from the customer’s point-of-view Enabling characteristics to deliver future state experience
KEY ACTIVITIES • Conduct workshop(s) with internal stakeholders to design the future state customer experience, an experience that… Delivers on the brand promise Alleviates customer pain points Takes advantage of opportunities to delight the customer Is differentiated in the marketplace • Develop segment-specific experiences, where applicable • Create a detailed future state experience blueprint across channels • Create customer personas around the new experience • Specify key internal capabilities (Operational, Organizational, Technological) to deliver on the future state blueprint The following two exhibits represent key outputs of this phase. The first is a sample persona, which illustrates the experience from a customer’s point-of-view. We have found this view to be extremely impactful as it takes the words on the page and illustrates how the new experience will effect customers. It is a tremendous visual to both confirm that the new experience will have the desired results as well as a mechanism for educating internal personnel on the new customer experience. Illustrative
FUTURE STATE CUSTOMER EXPERIENCE PERSONA (P&C INSURANCE)
John and his family just moved to Portland and bought their first home. John felt this would be a good time to reassess their insurance needs, as they could now bundle their auto and home insurance. John’s wife, Mary, downloads Provider A’s app and requests a quote. Mary receives the quote and decides to buy the insurance. She then enters in the payment information (credit card) via the app and binds the insurance. In addition to the policy information, John and Mary also receive a welcome kit in the mail. The welcome kit outlines their nearest agent, whom to call with questions, and how to file a claim. John and Mary have a teenager driver, Susie, who after five months on the policy, has an accident. They file the claim via their app, including relevant pictures. They receive an email informing them the claim has been received. Online, they can follow the claim adjudication process and its status (what steps are left and the approximate timeframe).
Note: New and differentiated services offered are underlined.
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At the end of the first year, they receive their renewal notice electronically (as they have chosen the paperless option). Based on their positive claims experience, John and Mary decide to renew their policy. They enter in their credit card information and make their payment electronically.
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Improving Your Customer Experience to Drive Smart Growth
FUTURE STATE CUSTOMER EXPERIENCE BLUEPRINT (P&C INSURANCE) BUY
USE
Research Insurance Options
Purchase Insurance Coverage
Receive recommendations from family members / friends
Select coverage limits and deductibles
Research online Review brochures / pamphlets Talk with agents / customer support
Receive a quote
Customer Onboarding
Create account preferences Receive welcome kit
Make a payment
Receive a welcome kit containing relevant. contact information, using customer preferred medium (e.g., email, physical mail)
Make payments using any source (check, credit card, EFT)
Receive onboarding follow-up communication
Receive quotes via any medium (agent, online, phone, app) Select insurer
RENEW
File a Claim
Pay Premium
Request Service
File a claim
Select payment options
Establish online account
Receive premium invoice
Make changes to account information
File a claim using any medium (agent, phone, online, app) Receive notification claim was received Receive notification based on preferred medium (email, phone, app) Check claim status Proactively check status via online or app, including remaining steps
Make a payment Make payments using any source (check, credit card, EFT) Receive payment confirmation Receive notification based on preferred medium.(email, phone, app)
Receive claim adjudication notification Receive call from provider to explain outcome (in addition to mail or email)
Severe Pain Point
Illustrative
Moderate Pain Point
Make changes (auto change, add a driver, etc.) via any medium (agent, phone, online, app) Enroll in paperless notifications (e.g., premium notices) Contact insurer regarding policy question
Renew / Cancel Policy
Receive renewal notification For premium increases, receive proactive communication from provider to discuss premium reduction options (e.g., deductible increase to offset rise in coverage costs) Inquire about policy changes (e.g., modify deductible) Make a payment Make payments using any source (check, credit card, EFT) Cancel policy
Opportunity to Delight
Note: Italicized text constitutes the desired future state experience.
PHASE III: ENABLE THE EXPERIENCE Phase III can be described as the gap analysis phase. We start with the desired future state, figure out the capabilities needed to deliver on the future state, and finish by uncovering gaps in capabilities based on what is needed and what currently exists.
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Improving Your Customer Experience to Drive Smart Growth FUTURE CAPABILITIES EXISTING CAPABILITIES MISSING CAPABILITIES Required to Deliver Experience
Future Customer Experience
Compare
Gaps
Technology
Technology
Technology
Organization
Organization
Organization
Operations
Operations
Operations
Once we have identified the missing capabilities, we review them with key internal stakeholders to ensure accuracy and gain buy-in. The desired outcomes and activities are outlined as follows.
DESIRED OUTCOMES • Identification of missing capabilities needed to deliver on the future state experience across Operations, Organization, and Technology
KEY ACTIVITIES • Compare needed future state capabilities (as defined in Phase II) with current state capabilities (as defined in Phase I) • Determine missing capabilities (gaps) across Operations, Organization, and Technology • Review identified missing capabilities with key internal stakeholders to confirm accuracy and gain buy-in
PHASE IV: EXECUTION PREPARATION Phase IV serves as preparation for the new customer experience implementation process. Step 1 is the transformation of missing capabilities into specific initiatives within Operations, Organization, and Technology. Step 2 is the prioritization of the resulting initiatives. Step 3 is the creation of a roadmap that is implementable and specific. Each initiative is placed on the roadmap with a designated owner, timeframe, etc. Step 4 is the construction of a business case that outlines the cost-benefit analysis of the initiatives. A business case is valuable as it enhances the customer experience lead’s ability to get funding and is a strong input for determining the key success metrics of the new experience (i.e., levers and levels within the business case are the measurable metrics going forward).
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Improving Your Customer Experience to Drive Smart Growth DESIRED OUTCOMES • • • •
Prioritized list of initiatives Implementation roadmap Business case Target success metrics
KEY ACTIVITIES • Transform missing capabilities into initiatives for acquiring/developing capabilities • Determine prioritization criteria for initiatives, such as Benefits of implementation (impact on customer experience, estimated financial return) Cost of implementation (capital costs, amount of resources required, level of risk) • Apply prioritization criteria to initiatives to determine which initiatives to move forward on and in what order (quick wins vs. long term efforts) • Develop integrated roadmap that comprises initiatives • Comprise business case that conducts a cost-benefit analysis of the initiatives • Create target success metrics based on business case • Perform competitive analysis to determine benchmarks for each key success metric Prioritization enables companies to determine which initiatives to proceed with and in what order. We begin the prioritization process by determining a set of evaluation criteria. There are two main criteria categories – benefits and costs. Below is a sample list of subcategories for each grouping.
BENEFITS • Financial Impact (increase acquisition • • • •
rates, retention rates, overall revenue) Degree of Fit with Corporate Strategy Degree of Fit with Brand Strategy Level of Marketplace Differentiation Etc.
COSTS
• • • • •
Capital Expenditures Ease of Implementation Resource Requirements Degree of Organizational Change Etc.
After working with our client to select key sub-categories, we collaborate to score the priortization criteria. Depending on the degree of sophistication and differentiation, various scoring scales can be used (e.g., High/Medium/Low, 1-5). These individual sub-category scores are then aggregated to create an overall score for cost and and an overall score for benefit. When calculating overall scores, the sub-category scores can either be weighted or unweighted. Weighted means that certain sub-category groups carry greater importance when calculating the overall cost and benefit scores; unweighted results in all sub-cateogry ratings carrying equal importance. Whether or not a weighted or unweighted approach should be used is dependent on each company’s situation.
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Improving Your Customer Experience to Drive Smart Growth Illustrative
LEVEL OF BENEFIT
Further Evaluation Needed
Hold
Proceed
Further Evaluation Needed
Low
The 2x2 matrix on the right depicts the aggregate benefit score on the vertical axis and the aggregate cost score on the horizontal axis. We plot each initiative based on its aggregate scores. Those initiatives in the top right quadrant (Low Cost, High Benefit) are efforts that are worth pursuing. Conversely, initiatives in the bottom left quadrant (High Cost, Low Benefit) should not be pursued at this time. The two remaining quadrants are less definitive. Projects in the top left quadrant (High Cost, High Benefit) and bottom right quadrant (Low Cost, Low Benefit) need to be evaluated on a case-by-case basis.
High
INITIATIVE PRIORITIZATION MATRIX
High
LEVEL OF COST
Low
= Initiative
PHASE V: DELIVER THE EXPERIENCE We work together with our clients to execute the new customer experience in Phase V. Our role typically entails oversight of all of the various initiatives (e.g., PMO responsibility). It also includes managing the specific IT initiatives, re-designing the appropriate processes to deliver the brand promise, and instituting change management efforts (e.g., updated organizational charts, roles and responsibilities, etc.).
DESIRED OUTCOMES • Efficiently and effectively execute initiatives across... Technology (Manage IT implementation) Operations (Re-design processes) Organization (Implement organizational structure)
KEY ACTIVITIES • • • •
Oversee roadmap execution (PMO) Manage specific IT initiatives Re-design appropriate processes to deliver on the brand promise Institute change management efforts Create buy-in within the organization Design new organizational structure Define updated roles and responsibilities
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PHASE VI: MANAGE THE EXPERIENCE The final phase focuses on how to manage the new experience and look for continuous improvement opportunities. The foundation is the customer experience scorecard, based on the metrics developed in Phase IV. It is important to create a scorecard with measurable and actionable metrics so that level of progress can be determined and inadequate performance can be quickly identified and actions can be taken to course correct.
DESIRED OUTCOMES • Customer experience scorecard • Systematic reporting of metrics to ensure desired customer experience is being met • Ability to quickly identify when metrics go awry and make adjustments
KEY ACTIVITIES • • • • •
Determine appropriate success metrics and desired results based on Phase IV Create customer experience scorecard containing success metrics (including goals and benchmarks) Determine applicable stakeholders to whom scorecard reporting occurs Determine frequency of scorecard reporting Identify metrics below goals and determine correction steps
An example of a sample customer experience scorecard that contains customer experience metrics, operational metrics, and financial metrics is below.
CUSTOMER EXPERIENCE SCORECARD (P&C INSURANCE) KEY SUCCESS METRIC
BENCHMARK / GOAL PERFORMANCE GAP (+/-)
82
80
+2
73
70
+3
Claim Satisfaction Score
96
90
+6
Average Number of Calls Per Week
2049
2100
+51
13.7%
15.0%
-1.3%
7.9 minutes
7.5 minutes
-0.4 minutes
Average Number of Policies Per Customer
1.46
1.46
0.00
Number of Policies in Force
798,698
786,500
+13,198
Net Promoter Score (NPS)
CUSTOMER SATISFACTION Customer Loyalty Index METRICS
OPERATIONAL % First Call Problem METRICS Resolution
Average Call Handle Time
FINANCIAL METRICS
COMPANY PERFORMANCE
Illustrative
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Improving Your Customer Experience to Drive Smart Growth
WHAT DISTINGUISHES “GREAT” CUSTOMER EXPERIENCE EFFORTS FROM “GOOD” CUSTOMER EXPERIENCE EFFORTS? Per our experience, we have highlighted best-in-class principles that differentiate a “great” customer experience design effort from a “good” customer experience design effort: • Consistent delivery of the desired experience • Engagement of key individuals up front in the process; developing and executing on the customer experience involves cross-business unit stakeholder alignment and buy-in • Formulation of the desired experience holistically, looking at both online and offline interactions • Delivery of a standard, low risk experience initially that benefits the majority of customers; then, delivery of a differentiated experience to the most important customers • Development of a scorecard for capturing and disseminating key success metrics; don’t get too comfortable, as it may be necessary to adjust the experience going forward • Creation of a solid complaint resolution process; not only will it help to improve the customer experience, but it is a great avenue for collecting customer perceptions • Appointment of a Chief Customer Officer whose role is to be the voice of the customer within the organization
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ABOUT THE AUTHOR Jeffrey Somers is a business strategy and strategic marketing executive. He has over 20 years of experience helping Fortune 500 companies develop and implement strategies that enable profitable growth. Jeffrey’s expertise is centered on helping companies understand the needs of the marketplace and then translating those insights into actionable strategies for his clients. Jeffrey has conducted various growth-oriented efforts. His functional experience includes: Customer Experience Design / Journey Mapping, Growth Strategy Development (e.g., Customer Acquisition Strategy, New Market Entry), Customer Segmentation, Brand Positioning, New Product Development / Feasibility, Voice of the Customer Analysis, Multi-Channel Marketing, Sales Force Effectiveness, and Strategic Pricing. He believes that knowledge of the customer is the foundation from which growth occurs. He is proficient at conducting market research, both quantitative and qualitative, and then sifting through the information / data for insights to drive strategies. Jeffrey has worked across both B2B and B2C sectors. He has engaged corporate executives within financial services (banking, insurance, wealth management), consumer products, utilities, manufacturing, telecommunications, entertainment, and healthcare. Within the area of Customer Experience Design and Execution, Jeffrey has conducted the following successful engagements: • • • • • •
Improved the Digital Experience for One of the Most Recognizable Brands in the U.S. Enhanced the Billing Customer Experience for a Leading P&C Insurance Company Conducted a Customer Experience Impact Assessment for the Wealth Management Practice of a Financial Institution Improved the Claims Experience for a Regional P&C Insurance Company Transformed the Customer Experience for a Local Utility Enhanced Customer Interactions for a Large Manufacturing Company
He has an MBA from the Stephen M. Ross School of Business (University of Michigan), and he holds a Bachelor of Arts from the University of Chicago, with a major in Economics. Jeffrey can be reached via phone: 312-356-5739 or email: Jeffrey.somers@mkt-strat.com.
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ABOUT MARKET STRATEGY GROUP, LLC Founded in 2004, Market Strategy Group (www.mkt-strat.com) is a consulting firm comprised of seasoned individuals who pride themselves on being agile and nimble in order to help organizations achieve profitable growth. Market Strategy Group sees business differently. To us, winning isn’t about going from Point A to Point B. It’s about aligning three distinct dimensions – business direction, people & process, and markets & customers – to drive growth. How will your organization create value and compete?
Business Direction Who will you serve and how do they view you?
Ecosystems
How will you enable the organization, work teams, and leaders to be successful?
People & Process
Helping clients find and grow from this alignment is what Market Strategy group does. Approaches range from the very strategic to the highly operational – from Growth Strategy & Aspiration Workshops for top leadership, to Strategic Plan Devlopment and Execution (vision to annual operating plan) across multifunctional teams. They span the internal – C-Suite Business Planning, for example – and the external, like External Market Ecosystem Assessments. Among the results: year-over-year double-digit growth, reduced operating costs for more profitable growth, improved sales and organizational readiness, better performance in both new and existing markets, and new business directions leading to mergers, acquisitions, and other new strategic partnerships and options. If growth is on your horizon, Market Strategy Group welcomes a conversation.
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