A webinar by Vamsi Krishna Wuppalapati, Ex-VP (Products, CX) RentoMojo
The focal maxim of a customer-centric organization is to provide positive customer experience. Identifying the customer segments, their needs and developing products that fulfill them form the crux of the customer centered organizations.
On 19th December 2017, The Institute of Product Management (IPL) hosted a webinar on “Building Customer-Centric Products”. The speaker for the webinar was entrepreneurial Product Management professional Vamsi Krishna Wuppalapati, Ex-VP(Products, CX), RentoMojo.
At the outset, Vamsi emphasized that customer satisfaction and customer experience is much more than a call center communication or sending and receiving emails. In an e-commerce industry scenario, the customer experiences range from the time the user checks the app or the website, to acquire them as a paid customers, and goes on beyond the delivery of the product.
The key topics discussed in the webinar are: • 4 pillars of Customer Experience (CX) Products • Customer/User Segmentation • Product Themes and Growth Levers • Methodologies for developing a good CX Product • A case study to the interested Product managers.
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The 4 Pillars of CX Products
What are the basic blocks of developing a good customer-centric product? Vamsi says that the first aspect to consider is focusing on the end-to-end customer journey. Proceed to derive customer touch points and the importance or value of each touch point. This helps prioritize products and their XP measure. Planning follows. Based on customer touch points, the next logical step is to develop the product roadmap and features of the product. Determine the prime features that enhance the CX. Finally, product capabilities have to be captured and validated. This is to understand how successful the product has been in enhancing customer satisfaction. Net Promoter Score (NPS) or Customer Satisfaction (CSAT) score are used here. Even though tools like SurveyMonkey and Delighted are available to get your NPS, it is always better to develop an internal tool that is a tailored-fit for your firm.
To build a good customer-centric product, the target customers or the users have to be segmented so that each segment is properly catered to. Vamsi describes how this segmentation was done in furniture rental firm, RentoMojo.
Growth Levers - Product Themes
Vamsi says that talking to the customer is a must-have growth lever. Whether it is before the rollout of the product or after, connect to your customers, and from the feedback you get, build the product. This is an iterative process - Build, Measure, Learn, Repeat. Also, collate customer delight patterns from various channels like Twitter or Google Reviews. Include this feedback in your database and use them to build products that delight customers.
Use my Cheat Sheet and Grow
Methodologies and parameters to understanding customer experience and building customer-centric products were discussed. Vamsi then talks about the ‘Circles’ methodology that he follows, which includes comprehending the situation, identifying the customer, reporting customer needs, prioritizing, listing the solutions, and recommendations after a careful evaluation.
This was followed by a case study for interested product managers to work on.