Sat, 15 April 2017
Our guest today is a Vice President of Global Product Strategy who knows a thing or two about creating a customer experience advantage. We will demonstrate how to make the customer experience a competitive differentiator. If you want to follow along and take notes, flip to the Customer Experience Design phase starting on page 130 of the workbook.
Our expert guest is Cigna’s Vice President of Global Product Strategy and Operations, Rob Wentling. Cigna is one of the largest global health services companies in the world. Rob is accountable for creating and delivering an enterprise-wide product strategy including core product development and management processes critical in helping Cigna achieve its “Go Deep, Go Global, and Go Individual” strategy. During the interview, Rob will demonstrate how to make the customer experience a competitive differentiator by using Cigna as an example.
Why is this topic important? Customer’s expectations have risen, and failure to provide an exceptional experience for each customer can result in poor revenue growth. Some customers prioritize their experience over product performance, believe it or not, when making a purchase decision. This requires a deep understanding of the customer’s journey and each touch point along the way. Mapping this customer’s journey is a difficult yet mission critical task that when done correctly can result in exceptional revenue growth.
Rob defines the customer experience as creating an experience design that exceeds customer’s expectations. Basically, providing them greater value than they anticipate or they expect. Watch as Rob describes how to understand which customer touch points are most critical, those moments that matter the most. Understand which customer segments have the greatest needs at the different moments that matter and communicate it in messaging. Construct that experience and you have a true level of competitive differentiation.
In addition to product management professionals, who else benefits from this podcast?
There are three primary ways to compete. Product differentiation, price, or customer experience. It seems like that we’re living in an era where product differentiation is harder and harder to obtain, product life cycles are much shorter. With global competitors, product features are sometimes easily copied quickly. It also is very difficult to sustain a price advantage. The customer experience is uniquely human and difficult to copy. If you can truly master that customer experience and how humans interact with other humans and differentiate in those moments that matter, that Rob mentioned earlier, it’s sustainable.
Listen as Rob and I discuss Customer Experience Design and answer the following questions:
If you would like to spend some time with me on this subject, come see me in Dallas at The Studio, SBI’s multimillion dollar, one-of-a-kind, state-of-the-art executive briefing center. A visit to The Studio increases the probability of making your number because the sessions are built on the proven strength and stability of SBI, the industry leader in B2B sales and marketing.
Direct download: Customer_Experience_Podcast.mp3
Category:Product Strategy, corporate strategy -- posted at: 7:50am EDT