Enterprise Customer Engagement Platform

Enterprise Customer
Engagement Platform

Find out how our Consultants built a unique digital platform to bring a paradigm change in customer engagement for businesses.

25%

Increase in revenues from cross-sell/up-sell opportunities

50%

Reduction in new customer acquisition costs due to referrals

2 X

Spend increase from brand ambassador customers

Business impact

Since partnering with PM Power Consulting, the client (who is a Financial Services company) has observed a significant impact to their business across various KPIs. At a high level, above is a quick snapshot of the impact that the business has observed.

Digital Platform to transform how Businesses engage with their Customers

Built cross-industry from ground up, this platform is targeted at businesses of all sizes selling or providing any product or service to institutional or individual customers.

The Challenge

Most businesses have a transactional relationship with their customers, characterized by infrequent and ineffective communication, resulting in lack of customer engagement which in turn results in the following challenges for the business:

Not being close to the pulse of the customer, hence not being able to understand the likes and dislikes of the customer for the business’ product/service
Lack of brand recognition and customer mindshare
High and unpredictable customer attrition, impacting repeat business revenues significantly
Lower customer life time value

Higher new customer acquisition costs due to missing out on word of mouth customer referrals

Experts Involved

Raja

Zafar

SK

Shiv

Paramu

K. Prasad

Approach and Solution

Our Lead Consultant and his team developed a unique digital Customer Engagement Platform that enables businesses to continuously communicate with its customers for mutual value creation. This involved:

Conceptualizing the business and the platform end-to-end
Business Model and Business Architecture
Application, Technical, and Data Architecture
The platform had the following key features:
- Main functionality included Enterprise Feedback & Complaints Management, Referrals, Offers, and Online Customer and Employee Communities
- Cross-industry configurable Customer Journey Mapping underpinned by customer experience KPI framework
- Platform was made available as Software as a Service on the Cloud allowing easy subscription model of service consumption, both by the business and its customers
- Cloud-native using Microservices Architecture, Responsive and Multi-lingual UI, making available the same functionality over desktop/laptop, tablet, and smartphone
- Relational as well as unstructured data (Big data), On-demand Analytics, Recommendation engine for knowledge articles
- Highly scalable, High performance platform, developed using Hybrid Agile methodology
- The team implemented the platform for a Retail firm, specifically configured customer journey maps for their context in collaboration with senior business leaders from top management, marketing, and operations. Also trained them on the platform and gave them the roadmap of initiatives for effectively embedding the platform in their day-to-day interactions with their customers and supply chain partners.

Outcome

Increased Customer Delight

The Retailer now had a solid mechanism to stay close to the pulse of its customers and use the feedback to make their organization more customer-centric and increase customer retention.

Cross-sell / Up-sell

Leveraging the online community, the firm was better positioned to identify cross-sell and up-sell opportunities across their product portfolio and customer segments, thus increasing revenues from increased customer life time value.

Customer-driven Innovation

The firm could tap into ideas and suggestions from customers to improve their products and services in a more structured and informed manner, thus gaining a marketing edge.

Employee and Partner Engagement

Using the Employee and Business Partner Community, the firm now had a way of engaging with these stakeholders in a much more active way, ultimately leading to making the organization more customer-centric.