Winning hearts & wallets
CUSTOMER VALUE ALIGNMENT WORKSHOP
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Context
Great work has been done across Mattress Firm to understand and define the opportunity to meet customer needs. We are using these activities as starting points to guide our conversations & decisions.
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The purpose of this workshop is to bring to life our past work, establish the measuring stick for the work we are doing, and take action against our plans to accelerate growth.
Transition to action
Its means working as one.
Customers don’t care about the organizational divides and priorities that exist in your organization. They expect a CONSISTENT QUALITY EXPERIENCE regardless of how & when they interact with you.
The most successful companies weave experience into the fabric of the organization. Regardless of company's Omnichannel Maturity we are prepared to help on your journey.
From spreading the word, upskilling your resources, and all the way to advancing existing experience program investments.
So how do we get the most acquisition, conversion, and retention with the goal of winning more? We start by aligning on a common metric that is the indirect result of various activities across the company.
Measuring Customer Value
Customer value is calculated from all the unique points in customer acquisition, conversion, and retention.
Operating profits, EBITDA, and revenue can only approximate what really drives your company: customer value. To determine ways to grow your business, you must understand the value of your customers so that you can:
Invest in the right customers
Identify new markets, touchpoints, and customers to target
Align investments for product and service lines
Extract more value for your existing investments
Determine which investments are not driving growth and where to cut costs
Capitalize on customer data, behavior, and influence
Moreover, a thorough understanding of the value of each customer provides a clearer picture of your business's value and the potential to increase it in the future.
We call this metric CUSTOMER VALUE. It symbolizes the culmination of efforts across the company, and It pushes Customer Lifetime Value (CLV) to include the value customers produce (post purchase) through their engagements (referrals, data, etc.) and the total size and share of the market.
86% of buyers are willing to pay more for a great customer experience. Customers are willing to pay a price premium of up to 13% - 18%, for luxury and indulgence services, simply by receiving a great omnichannel experience.
- PWC.
Join Us
June 15, 2021 1pm
June 15, 2021 1pm
Easyenough will conduct an interactive workshop with the executive stakeholders across Mattress Firm to align on your contribution to the Customer & Employee journey. During the workshop, we will explore how all departments contribute or support the Omnichannel Experience (OX). We will then work collaboratively to identify an initial set of metrics to calculate the Customer Value.
This will be the basis for work that will take place later in 2021.
Agenda
5 min NorthStar
15 min Value of Omnichannel Experience (OX)
15 min Warm-up exercise
60 min How we support the customer journey
10 min Break
90 min Prioritize which metrics influence the OX
15 min Review next steps
NEXT UP - LATER 2021
Segment the personas, touchpoints, and marketplace
Calculate the profit contribution of each customer in the current year
Identify the employee & sleep expert contribution, the value of behavioral and transactional data, the value of their influence on future customers, customer retention duration, and customer retention costs
Share with ELT for buy-in support
Automate the data capture process
Corporate training & rollout
Happy Hour: 5-7pm
Happy Hour: 5-7pm
Red River Ice House
10308 S Main St, Houston, TX 77025
Pre-work
Pre-work
To make good use of our time, we would like your feedback in advance to the workshop. Let's talk about how your team is involved in the omnichannel experience.
The journey starts when a need arises. Any activity that gets customers to step into our store, visit our website, or seek our advice. We refer to this phase in the journey as ACQUISITION (Pre-Purchase).
As customers step into a store or onto our website, we want to convert them from visitors to paying customers. We call this phase CONVERSION
Post purchase, we still have opportunities to engage with our customers to retain their loyalty, earn their referrals, and deliver a fantastic experience that is only possible with Mattress Firm! We call this phase RETENTION (Post Purchase).
THANK YOU
WE'LL SEE YOU
JUNE 15
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