Ken Peterson, Managing Director
Today, consumers have more options and are becoming increasingly harder to please. Established companies can no longer rely on the strength of their brands and need to delight consumers to remain in business. Hence, customer experience (CX) is the new battlefield where forward thinking companies are fighting to build loyalty and create strong advocates. While many tools exist to help organizations track their CX with common metrics, like CSAT and Net Promoter Score, few can truly demonstrate how CX impacts the bottom line. Nepa, and its Consumer Science Platform integrates all of the traditional KPIs plus sales data and other data sources to give decision makers actionable information.
“Businesses with multiple branches such as retail, grocery, and fast food as well as sports teams, casinos, and entertainment venues have been tremendously successful in prioritizing CX investment for revenue and profit with our solution,” says Ken Peterson, Managing Director, Nepa US.
Nepa’s CX product portfolio includes three state-of-the-art solutions CX Tracker, CX Empower and CX Optimize. CX Tracker is a cost-effective solution that encourages customers to provide feedback, provides an elegant monitoring dashboard that continuously measures CX KPIs across the organization.
According to Peterson, “analytical learnings from most CX firms derived at the executive level can take a lot of time to reach the lower management levels.” CX Empower gives organizations the ability to distribute personalized and timely CX improvement actions to individual store managers while simultaneously informing the manager in charge of 100 stores. This tool enables people on the ground to make tactical CX improvements and resolve service failures while also helping HQ monitor performance and build long-term competitive advantage
CX Optimize integrates CX feedback and operational data flows—such as sales, basket data and market data— into a single dashboard that optimizes CX investments for revenue and profit. This product has growing demand from organizations that have established CX programs that remain overly reliant on intermediate KPIs, like NPS.
Niclas Ohman, CPO
By making it possible to communicate CX in terms of financial impact to the business—senior executives and front-line management alike are compelled to act. Furthermore, the solutions leverage artificial intelligence and predictive analytics to help decision-makers understand where to make adjustments on an ongoing basis.
Peterson explains that the limited scope of most CX measurement programs restricts an organization from analyzing both CX feedback and operational data in one system. Nepa eliminates this barrier by linking customer experience insights to their impact on sales, allowing companies more information used to optimize their investments. “We are unique because we build and deploy CX programs from the ground up while including data scientists to make complex integrations and the consulting talent to help make the output actionable for our clients,” says Peterson.
An example of Nepa in action: A Scandinavian-based client with 700 stores was losing market share for over two decades due to a lack of focus on customer priorities, new competitors and reliance on their established brand. Working with Nepa, they focused on getting to know their customers better which lead to localized strategies for each store. Combining this knowledge with data from the loyalty program and the CRM, individualized promotions were developed to target lapsed customers. The result? Thousands of customers returned to their stores and profit margins grew in a competitive European market.
We are unique because we build and deploy CX programs from the ground up
With numerous assignments in over 50 countries in the retail, entertainment, telecom and fast food industries, Nepa is currently expanding into U.S. market working with new client’s in the retail, QSR, gaming and hospitality verticals. While expansion is a big objective, Nepa continues to invest heavily in new features and integrations to make the Consumer Science Platform even more robust. “We are always focused on broadening the sources of data that can be incorporated into our CX analytics and ensuring that prioritized actions make it to the person who can act on them in the simplest form,” concludes Niclas Öhman, Chief Product Officer of Nepa.