Companies with the highest customer satisfaction scores generate twice as much shareholder value than those earning average scores. Our revolutionary approach helps clients achieve this feat—by creating an unsurpassed customer experience.
Many companies have invested heavily in improving their customer experience. More often than not, though, they end up making only incremental fixes to the status quo—achieving just 5% to7% year-over-year improvement in customer satisfaction. To power real progress—the 30% to 50% improvement needed to make meaningful impact—companies need a customer experience revolution, not an evolution. That’s where our customer experience consultants come in.
Our unique methodology transforms the overall customer experience strategy, delivering unprecedented outcomes that transcend improvements in individual functions. To do so, we draw on a suite of proprietary tools and multidisciplinary expertise ranging from technology and data and analytics to change management.
We help clients revolutionize their customer experience strategy by mastering the five elements of our MIDAS methodology:
Our framework focuses on both the business impact of an improved customer experience and the operational excellence required to enhance a client’s cost-to-income ratio. By taking a holistic approach to customer experience management, we position clients to achieve innovations that cut across the business. The cross-functional teams we help them build deliver outcomes that simply aren’t possible in organizations where functions such as marketing, sales, and operations remain siloed.
Online, offline—it doesn’t have to be one or the other. Phygital is about integrating physical and digital experiences to create richer, more seamless customer journeys. But it’s also about innovating: identifying the right features—and the right balance—so you draw from each realm in an optimal way. When well executed, phygital does more than engage customers: it empowers them. And it fuels competitive advantage.
So how do you get phygital right? By unleashing your imagination: envisioning how you can blend different elements from both the physical and digital world to speed, simplify, or augment customer experience and improve customer service. Already, we are seeing digital kiosks in restaurants and movie theaters enabling patrons to avoid long lines; QR codes on store shelves letting customers pull up additional product information and recommendations on their phones; and live video shopping allowing viewers to ask questions about new arrivals and to make purchases.
As technologies like AR/VR evolve, phygital’s potential for creating superior omnichannel experiences—and value for customer and company alike—will grow.
Our teams deploy a suite of tools that help clients gain and track insights from metrics crucial to customer experience management. The tools our customer experience consultants use include:
Customer Experience Measurement System, for establishing a comprehensive set of customer metrics that can be embedded within the organization—including net promoter scores to measure customer loyalty and our brand advocacy index, which correlates top-line growth with improvement initiatives.
Demand Centric Growth®, for defining customer segments, deaveraging customer metrics, and identifying actionable demand spaces with specific characteristics, needs, and values.
Human-Centered Design, for identifying the sets of customer metrics that illuminate both the root causes of pain points and the right interventions.
Smart Simplicity®, for reducing complicatedness of metrics so companies can focus on those that will improve performance.
Customer Experience Maturity Assessment, for assessing clients’ maturity on each dimension of the customer experience and benchmarking clients against others in their industry, sector, and region.
E-Commerce Channel Diagnostics, for helping clients get the most from their e-commerce channels, through setting the strategic direction, defining the customer journey, and supporting customer experiences.
DEEP AI by BCG, for integrating AI into customer experience management and enabling a level of personalization that delivers sustainable financial impact, quickly—including reduced churn rates, increased cross-sell and up-sell volume, and larger profit margins.
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