Download pdf - Mobile Commerce: Why the User Experience Matters

M-commerce: Experience Matters

September 9, 2011

© 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.

September 9, 2011

9:00 – 9:30 AM

Janet Jaiswal

Agenda

›What does Customer Experience mean?

›Why does it matter?

› How does Customer Experience help my bottom line?

© 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.1 © 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.1

›What should I be doing?

› Example of customer experience measurements

› Q&A

Tealeaf is the Leader in OnlineCustomer Experience Management

• 400+ Enterprise Customers; 30% of Fortune 100

• 7 of the 10 largest US banks

• Increase mobile and web conversion rates

• Improve customer satisfaction and retention

© 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.2

• Improve customer satisfaction and retention

• Reduce IT and support costs

• Improve customer service efficiency

Improving online customer relationships

one experience at a time

What Does Customer Experience Mean?


Customer Experience Mean?


92:1

Companies typically spend $92 to bring customers

to their site.


92:1But only $1

to convert them.

© 1999 - 2011 Tealeaf Technology, Inc. All rights reserved. Confidential and Proprietary.4

Removing obstacles to customer success

Usability issues

Perfect the online experience by:


Usability issues

Application issues

Site errors

System issues

5 © 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.

Why Does Mobile Customer Experience Matter?


Customer Experience Matter?


Mobile Challenges

© 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.77 © 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.

Many companies lack visibility into the mobile channel

• Why am I getting negative reviews?

• What is working and what is not and why?

• Should I add features or expand to other platforms?

• Why are conversion rates lower on mobile?

Users have high expectations of mobile

47%

80%

85%

50%

60%

70%

80%

90%


0%

10%

20%

30%

40%

Experience on the

phone should be better

than in-store

Experience should be

better than or equal to

in-store

Experience should be

better than or equal to

using laptop or desktop

Source: 2011 Harris Interactive Survey of Mobile Transactions for Tealeaf

Poor Experience Matters

Mobile financial service capabilities had more impact on a consumer’s decision to select a bank than….


select a bank than….

Source: Mercatus LLC and Visa Inc. Dec 2010 study

the availability of online banking, access to ATMs or nearby branches.

Poor Experience Matters

63% of users would be less likely to buy

from the same company via other purchase channels (online, in store) if they encountered a mobile transaction problem.


84% of users experienced problems when

conducting online transactions on mobile devices.

Source: 2011 Harris Interactive Survey of Mobile Transactions for Tealeaf

Problems encountered in the mobile channel

Unable to complete a

App/ website was

difficult to navigate

Received an error

message


0% 10% 20% 30% 40% 50%

Automatically kicked off

Trouble logging in

Unable to complete a

transaction due to an

endless loop

Bad customer experiences are more dangerous than ever


78% of users who

encounter problems completing mobile transactions share those experiences with others


How do you find out about bad customer experiences?


Will Good Customer Experience Help my Bottom Line?


The Benefit of Becoming Customer

Centric?

$3M+ per year*


$3M+ per year*

Source: A commissioned study by Forrester Consulting, “The Total Economic Impact of Tealeaf’s Customer Behavior Analysis Suite.” July 2010

The Benefit of Becoming Customer Centric

Customer Experience (CXP) Leaders vs. Laggards


Source: Forrester Research Analyst Harley Manning’s blog: http://blogs.forrester.com/harley_manning/10-03-19-cxpi_vs_stock_performance

Enterprise-wide Benefits

1%+ improvement in customer retention rates from better site experience.2

3

3.5%+ increase in site conversion rates.1

0.5%+ improvement in average order value from better customer experience.


60%+ reduction in IT and development costs associated with problem reproduction and resolution.

3

10%+ reduction in IT and development costs associated with better prioritization of site projects and project avoidance.

5

value from better customer experience.

4

18 © 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.

What Should I be Doing?


Know your mobile customers

Measure

• All online services (mobile apps, mobile web, desktop web, contact center, social media)

• Identify what you want to measure

Learn

• Understand your user base

Measure


• Understand your user base

• Identify and eliminate customer struggle (not just site errors)

Optimize

• Develop goals, measure and improve performance

– Key Performance Indicators

› Acquisition?

› Engagement and retention?

› Monetization?

LearnOptimize

Understand your entire mobile environment

• User Behavior

– Screens Viewed, Referring Screen

– Text Field, Text Field Value

– Touches, Motion

– Etc.

• Environmental


• Environmental

– Site & App Version, OS version, Device Model

– Device Orientation

– Carrier, GPS

– Etc.

• Application Health

– Exceptions, Crash

– Server Connection Success/Errors

– Etc.

Identify your Key Performance Indicators


Know what to measure to make smarter decisions:

New accounts opened

Total Payments Sent



Conversion by Channel


Early warning system into customer struggle

Cross-channel visibility into key metrics


New Release Errors


Early warning system into customer struggle

Cross-channel visibility into key metrics

Improving customer experience:Key takeaways for mobile

1. Better visibility into customer issues

2. Faster trouble isolation and resolution


If you don’t, your competition will

resolution

3. Higher customer satisfaction

4. Identify new service opportunities

Thank You

© 1999 - 2011 Tealeaf Technology, Inc. All Rights Reserved. Confidential and Proprietary.

Janet A. JaiswalSr. Director of Product [email protected]