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1The Disconnected Customer: What digital customer experience leaders teach us about reconnecting with customersBy the Digital Transformation Institute2The rewards of a superior digital customer experienceNot many companies successfully deliver a great digital customer experience and enjoy the rewards. There are, however, some notable exceptions: 17 million customers use Starbucks mobile app1. Not only does it allow consumers to place and pay for an order before reaching a store and pick it up without waiting in line, its also a platform where members can redeem loyalty rewards. Within eight months of its release in 2015, it was processing over seven million mobile orders a month. Nordstrom, the American luxury retailer, offers customers a host of digital services: mobile checkout, the ability to text salespeople, and a personalized digital clothing service. It reported e-commerce sales of over $2.5 billion, representing nearly a quarter of its full-price sales for FY 20162. What makes these leaders and other firms like them stand out in terms of the digital customer experience? What kind of gains can organizations expect to see when they prioritize the digital customer experience and execute on it? To find answers to these and other questions, we conducted a large research exercise, reaching out to 450 executives and 3,300 consumers in sectors that included Utilities, Consumer Products, Retail Banking, Retail and Internet-based services3. More details on our approach and research methodology are included at the end of this report.Consumers are ready to reward better experiences with increased spendingOur research found that over 80% of consumers are willing to pay more for a better experience (see Figure 1). This holds true across sectors and countries, with around 1 in 10 consumers (9%) willing to increase their spending by more than half. Figure 1: Consumers are willing to spend more for a better experience81% of consumers are willing to pay for a better experienceN=3372 consumers. Percentages may not total 100 due to rounding.Source: Capgemini Digital Transformation Institute analysis; Capgemini digital customer experience executive survey February-March 2017, and consumer survey March 2017Percentage of consumers willing to spend more for a better experience by sectorPercentage of consumers willing to spend more for a better experience by geography73%Utilities79%Retail Banking81%Consumer Products86%Retail87%Internet-Based Services81%OverallGermanyNetherlandsFranceUKUSAustraliaChinaIndia Overall61%72%75%82%82%85%95%98%81%3Figure 1: Consumers are willing to spend more for a better experience (cont.)N=3372 consumers. Percentages may not total 100 due to rounding.Source: Capgemini Digital Transformation Institute analysis; Capgemini digital customer experience executive survey February-March 2017, and consumer survey March 2017Percentage of consumers willing to spend more for a better experience by sectorPercentage of consumers willing to spend more for a better experience by geography73%Utilities79%Retail Banking81%Consumer Products86%Retail87%Internet-Based Services81%OverallGermanyNetherlandsFranceUKUSAustraliaChinaIndia Overall61%72%75%82%82%85%95%98%81%Percentage of consumers who are willing to increase their spend for a better experience by spend category43%35%9%12%9%42%32%10%17%14%19%40%32%9%27%40%24%39%36%11%18%41%32%9%Internet-BasedServicesPercentages may not total to 100 due to rounding.Source: Capgemini Digital Transformation Institute analysis; Capgemini digital customer experience executive survey February-March 2017, and consumer survey March 2017Increase up to 15% Unwilling to increase spendingConsumerProductsRetail Banking Utilities Retail OverallIncrease by 16-50% Increase by more than 50%4DCX IndexThe DCX Index measures the range and extent of an organizations digital customer experience practices. In our survey, we asked company executives about the adoption of more than 80 practices that spanned the customer journey. For example: How closely do business operations align with an organizations customer experience? To what extent do your customers experience a seamless purchase process? Does your company provide real time, personalized offers and communication on digital channels? Does your company provide loyalty and referral programs on digital channels? What amount of customer service is provided via digital channels as a share of total service volume?The greater the adoption of best practices, the higher the organizations DCX Index. In addition, we: Weighted practices based on their implementation difficulty, awarding more points to companies for mastering practices that are harder to implement. Took into account consumers views on how well companies were adhering to these practices, with a composite of executive and consumer scores forming the companys index score.Digital customer experience is linked with a firms key performance indicatorsTo investigate the relationship between the organizations digital customer experience and the benefits that organizations can generate, we developed a Digital Customer Experience (DCX) Index. This essentially scores the maturity of an organizations digital customer experience. The more DCX practices an organization adopts, the higher the index (see the “DCX Index”).Figure: Calculation of DCX IndexExecutives were asked questions such as:How closely are business operations aligned with the customer experience?Does your company provide loyalty and referral programs on digital channels?Consumers were asked questions such as:To what extent do you agree that:The company listens to your feedback and acts on itThe company provides a better experience than most of its competitorsThe DCX Index is a number between 0 and 100 and is calculated as an average of the executives and consumers scores for a company Executives scores on the adoption of DCX practices by the company Consumers scores on experience derived from the companyDCX Index of the companyOver 80 Number of DCX practices we analyzed in our DCX Index5The DCX Index is strongly related to the Net Promoter ScoreSM(NPS)4of a company (see Figure 2). We also found that the top DCX Index companies outperformed the lowest-scoring ones by a factor of 2.7 in terms of growth in stock. The top ten companies with the highest DCX Index in our sample saw their share prices increase by 16% on average over the last five years. However, the bottom ten players increased their share prices by only about 6% on average.Figure 2: DCX Index is strongly related with NPSand growth in stock prices N=122 companies. Each dot represents the DCX Index and NPSof a companySource: Capgemini Digital Transformation Institute analysisDCX IndexCorrelation between Net Promoter Score (NPS) and the DCX IndexNet PromoterScore (NPS)Correlation Coefficient = 0.73Growth in stock prices of DCX Index leaders and laggards(2011 price = 100) 119132167183208CAGR = 15.7%CAGR = 6%10210010012313713113420122011 2013 2014 2015 2016Average stock price of top 10 companies on DCX IndexAverage stock price of bottom 10 companies on DCX Index16% vs. 6% Growth in stock prices of top ten companies in our DCX Index vs. bottom ten over the last five years4. Net Promoter, NPS, and the NPS-related emoticons are registered service marks, and Net Promoter Score and Net Promoter System are service marks, of Bain & Company, Inc., Satmetrix Systems, Inc. and Fred Reichheld6The digital customer experience drives customer satisfaction and spending Our research shows a clear link between a better digital customer experience and value return (see Figure 3): A 1 point increase in the DCX Index corresponds to a nearly 0.6 percentage point increase in customer willingness to spend more. Put another way, customers would be willing to spend 0.6% extra on average if a company improved its DCX Index by 1 point5. A 1 point increase in DCX Index correlates to a 4.7 point increase in a companys NPSon average (also see “NPSleadership magnifies the advantage from an improved customer experience”).Figure 3: DCX Index is positively linked with customer satisfaction and willingness to spendSource: Capgemini Digital Transformation Institute analysis; Capgemini digital customer experience executive survey FebruaryMarch 2017, and consumer survey March 2017Relationship between increases in DCX Index and customers willingness to spendExtra amount that customers would be willing to spend (percentage points)0123451 2 3 4 5 6Increase in DCX Index (points)0.641.291.932.573.223.86Relationship between increases in DCX Index and increase in NPSIncrease in Net Promoter Score(points)0510152025301 2 3 4 5 64.79.414.018.723.428.1Increase in DCX Index (points)4.7 points 1 point increase in our DCX Index leads to a 4.7 points increase in NPS7Figure 4: Organizations aligning operations with customer experience enjoy greater rewardsN=125 companies and their 3372 consumersSource: Capgemini Digital Transformation Institute analysis; Capgemini digital customer experience executive survey February-March 2017, and consumer survey March 2017Companies that closely tie business operations with customer experience enjoy greater benefitsOur analysis reveals that organizations that tightly link their business operations with the customer experience reap greater rewards in terms of NPSand positive customer perceptions (see Figure 4). Organizations we surveyed fall under one of the following broad categories: Companies with business operations closely linked with NPS(6%): These organizations monitor their NPSor customer experience performance on a daily basis and share the information with managers. This creates a better alignment between business operations and NPSperformance. Companies with business operations loosely linked with NPS(61%): At these firms, NPSor customer experience is monitored on a regular basis. However, business operations are revisited only at fixed intervals, such as quarterly, half-yearly, or even less frequently. Companies with business operations not linked with NPS(33%): These companies do not track NPSor customer experience at regular intervals and these have no bearing on operations.In the section that follows, we examine whether or not organizations are prioritizing their digital customer experience and, crucially, what consumers think of their efforts. We also look at how organizations can seize the rewards of a positive digital customer experienceanizations with business operations linked with NPSobserve better NPSperformanceConsumers more favorably rank organizations with business operations linked with NPS1420127646%55%46%49%41%42%Consumers who believe that the company provides better experience than most of its competitors Consumers who believe that the company listens to their feedback and acts on it Advantage in NPSover companies with no linkage between business operations and NPSAverage increase in NPSin the last 3 years Companies with business operations closely linked with NPSCompanies with business operations loosely linked with NPSCompanies with business operations not linked with NPS14 points NPS advantage of companies with business operations closely linked with NPS8NPSleadership magnifies the advantage from an improved customer experienceWe have found a positive link between an organizations DCX Index and its NPS. To understand the potential value of that link, we compared a group of high NPSperformers to those with less stellar results (see “Key characteristics of NPSleaders vs. laggards” below). We found that leaders gain a 60% advantage over laggards in terms of increased customer willingness to spend. The NPSleaders stand to gain nearly $35 billion, or about 2.5% of their total annual revenue, in additional sales revenue by delivering an enhanced experience. NPSlaggards would only gain an additional $1.2 billion or 1.5% of their total annual revenue.Extra spending from consumers upon receiving a better customer experienceTotal added revenue from increased consumer spendingShare of total annual revenueAverage added revenue per companyFor 15 low NPScompanies$1.2 billion 1.5% $80 millionFor 15 high NPScompanies$35.3 billion 2.4% $2.35 billionKey Characteristics Top 15 High NPSorganizationsBottom 15 Low NPSorganizationsAverage NPS+9 -66Average increase in NPSin the last three years (according to consumers)12 points 2 pointsAverage annual revenue $146 billion $18 billionBusiness segment Mostly large retail and consumer products firmsMostly small and mid-size utilitiesSource: Capgemini Digital Transformation Institute analysisKey characteristics of NPSleaders vs. laggards9Organizations and consumers are miles apart on the customer experienceCompanies and their consumers do not see eye-to-eye on the customer experience. Our research found:1. A major gap between consumers and companies on customer centricity2. A disconnect on NPSin many sectors3. A clear signal from consumers that they feel their voice is not heard and their loyalty is not rewarded.A major gap between consumers and companies on customer centricity. We found that while three-quarters (75%) of organizations believe themselves to be customer-centric, only 30% of consumers believe this to be the case (see Figure 5). Utilities are particularly out of sync. We found that 79% of utilities believe they are customer-centric, but only 7% of consumers agree. Regionally, only companies in Asia-Pacific can claim to be in tune with their consumers.Figure 5: Consumer and company perception of customer centricityN=125 companies and their 3372 consumers. The vertical axis represents the average rating by company executives on whether they believe their company is customer centric. The horizontal axis represents the average rating of the consumers of the same company on the customer centricity of the company. Both questions had a scale of 1-7. Consumers or executives rating a company 4.5 or more were considered to be in favor of high customer centricity.78% Percentage of utilities believe they are customer-centric, but only 7% of consumers agreeLowCompany Perceptionof Customer CentricityHighLow56%Companies that consider themselves as highly customer-centric whereas their consumers dont agree19%Companies and their consumers agree that the companies are highly customer-centric15%Companies and their consumers agree that the companies are low on customer centricity11%Companies that consider themselves as low on customer centricity whereas their consumers perceive them as highHighConsumer Perceptionof Customer Centricity75%30%10N=125 companies and their 3372 consumers. Source: Capgemini Digital Transformation Institute analysis; Capgemini digital customer experience executive survey February-March 2017, and consumer survey March 2017Key characteristics of customer centricity
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