Banking & Finance
Colt, a multinational telecom company with a presence in 21 countries and customers in 150+ countries, sought to enhance its customer experience (CX) strategy. Despite using a CX management platform, they faced several critical issues:
๐ Their CX platform was rigid and did not allow for continuous improvement.
๐ The platform lacked consulting support, meaning collected CX data was not being used effectively.
๐ Surveys had become outdated, leading to inaccurate insights.
๐ Long questionnaires resulted in survey fatigue, lowering response rates and feedback quality.
๐ The existing system did not account for Coltโs four major business areasโDelivery, Sales, Customer Service, and Network Operationsโhindering organization-wide improvements.
Colt needed a data-driven, adaptable CX strategy to enhance customer journey optimization and improve customer experience metrics across all transactional touchpoints.
๐ Conducted an in-depth analysis of two yearsโ worth of customer feedback and CX data.
๐ Ran AI-driven models to assess the effectiveness of Net Promoter Score (NPSยฎ) for transactional surveys.
๐ Found that NPSยฎ was ineffective at capturing customer sentiment after individual transactions.
๐ก Key Finding 1: NPSยฎ Alone is Not a Suitable Metric for Post-Transaction Feedback
๐ Transactional surveys require a metric that focuses on ease of experience rather than just likelihood to recommend.
๐ A frictionless experience is a stronger driver of customer satisfaction than advocacy alone.
๐ This insight paved the way for a new CX strategy centered around Net Easy Score.
๐ Why this matters:
โ Customer experience metrics should be tailored to the type of interaction being measured.
โ Using the wrong CX metric can lead to misleading insights and ineffective CX strategies.
โ Improving customer experience starts with ensuring transactions are simple and effortless.
๐ Replaced NPSยฎ with Net Easy Score (NES) for transactional surveys.
๐ Implemented a new survey model: Net Easy Question + Open Comment Box + Drilldowns.
๐ Ensured feedback was concise, relevant, and actionable.
๐ก Key Finding 2: Ease of Doing Business is the Strongest Predictor of Customer Satisfaction
๐ Customers who find transactions effortless are more likely to be satisfied and remain loyal.
๐ Net Easy Score provided clearer, more actionable insights into customer experience pain points.
๐ Reducing friction at key touchpoints directly impacts customer retention and customer lifetime value (CLTV).
๐ Why this matters:
โ Focusing on โease of doing businessโ leads to tangible improvements in customer satisfaction.
โ Simplifying CX interactions reduces frustration and enhances customer retention.
โ A frictionless experience leads to a higher ROI of CX through improved efficiency and loyalty.
๐ Reduced the number of survey questions from 10-15 to just 6, eliminating unnecessary complexity.
๐ Used AI-driven CX data analytics to identify the six most influential factors on customer sentiment.
๐ Minimized survey fatigue, leading to more accurate and reliable feedback.
๐ก Key Finding 3: Shorter, More Targeted Surveys Yield Higher Engagement
๐ Survey response rates increased by 7% after reducing length and complexity.
๐ Data quality improved as customers provided more thoughtful responses.
๐ The streamlined approach optimized customer journey touchpoints by focusing on key drivers of satisfaction.
๐ Why this matters:
โ Short, effective surveys improve engagement without overwhelming customers.
โ Better survey design leads to richer insights and more informed CX decisions.
โ Higher response rates mean more accurate data for measuring the ROI of CX investments.
๐ Deployed Numr AMS (Alert Management System) for real-time issue resolution.
๐ Enabled Colt employees to instantly act on customer feedback.
๐ Prioritized close-looping of customer concerns and resolution of hot tickets.
๐ก Key Finding 4: Proactive Issue Resolution Enhances Customer Retention
๐ With AMS, Colt could immediately address customer complaints before they escalated.
๐ This resulted in improved customer retention and a stronger brand reputation.
๐ Colt employees became more engaged in CX improvement efforts, creating a customer-centric culture.
๐ Why this matters:
โ A responsive CX strategy reduces churn and strengthens long-term relationships.
โ Automated CX tools empower employees to take meaningful action on customer feedback.
โ A proactive approach to issue resolution significantly enhances customer satisfaction and CLTV.
๐ Survey response rates increased by 7% due to shorter, more effective questionnaires.
๐ Net Easy Score replaced NPSยฎ as the key metric for transactional feedback.
๐ Real-time issue resolution improved customer satisfaction and retention.
By adopting a data-driven, customer-centric approach, Colt successfully:
โ
Improved customer experience by making interactions simpler and more efficient.
โ
Reduced customer acquisition cost (CAC) by fostering long-term loyalty through ease of business.
โ
Enhanced customer journey optimization through better survey design and CX analytics.
โ
Increased customer lifetime value (CLTV) by ensuring consistent, high-quality service experiences.
โ
Demonstrated the ROI of CX by linking survey improvements to business performance.
This case study highlights a key lesson in customer experience management: Making business easy is the foundation of customer satisfaction.
๐น Customer experience metrics must be tailored to the specific touchpoints being measured.
๐น CX data analytics plays a crucial role in uncovering actionable insights.
๐น Survey fatigue can be reduced without sacrificing data quality.
๐น Customer journey optimization starts with making interactions effortless.
๐น The ROI of CX is clearโsimpler, more effective processes lead to increased engagement, retention, and profitability.
โ
Revamped Coltโs customer experience (CX) initiative with a more agile and insightful approach.
โ
Replaced outdated survey models with Net Easy Score for transactional feedback.
โ
Reduced survey fatigue by cutting unnecessary questions, improving response rates.
โ
Implemented AI-driven CX data analytics for real-time insights.
โ
Integrated a proactive alert management system for immediate customer issue resolution.
โ Demonstrated the ROI of CX by linking survey improvements to higher engagement and better decision-making.
โ Enhanced customer satisfaction by simplifying feedback collection and resolution processes.
โ Optimized the customer journey through improved transactional surveys.
โ Strengthened customer retention by making business interactions easier and more efficient.
โ Lowered customer acquisition cost (CAC) by increasing brand loyalty through seamless CX.
โ Increased customer lifetime value (CLTV) by ensuring long-term satisfaction and ease of service.
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