2020
The year customer experience is tipped to become the key brand differentiator. — Walker Information, Customers 2020: The Future of B-to-B Customer Experience, 2015.
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EXPERIENCE IS EVERYTHING. Customer experience (CX) leaders stand out. And deliver better operational and financial outcomes. The quality of your CX powers customer loyalty and advocacy. Which translates into growth, profitability and business success. Research* showed that just a one-point gain in the CX Index translated into US$65 million in extra revenue for an upscale hotel chain, for example.
There’s plenty of pretty solid evidence too that customer experience leaders are leaders in their industry and deliver much greater shareholder return. And that a balanced approach, that pays as much attention to employee experience (check out Figure 1), also pays off in customer experience and business performance. LEARN MORE
Figure 1 — The links in the Service Profit Chain, Harvard Business Review
Employee Retention Internal Service Quality
Revenue Growth External Service Value
Employee Satisfaction Employee Productivity
Customer Satisfaction
Customer Loyalty Profitability
* Forrester's The Revenue Impact of Customer Experience report, 2015.
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HOW PAYMENTS POWER EXPERIENCE. 2017 marks the expiry of the now-infamous patent, awarded to Amazon for its 1-Click checkout, that drastically simplified the order payment experience and increased conversions for existing customers. Fast forward and another company you may have heard of went one better. Uber’s payment and checkout approach removed all steps for users. Riders simply get out of the car when they reach their destination. That’s it. Fast and easy. For travel intermediaries like yours, we can see at least two opportunities where better payment processes can power improved customer experience. One: directly influence customer-to-intermediary payments, improving the customer experience at checkout. And two: the cumulative impact of improving how you pay suppliers.
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So where do B2B payments come into it? Selecting an innovative payment solution like eNett Virtual Account Numbers (VANs), which protects agencies (and therefore travellers) from supplier default, opens up a greater set of destinations and supplier options. Faster, easier, safer payment solutions also make reconciliation much simpler. So less staff time and energy on admin and much more on value-adding and delivering an engaging customer experience. Which makes for a more positive employee experience (EX) that adds power to the customer experience and drives growth and profitability – which is, after all, why we’re all here.
72
%
of businesses say that improving customer experience is their top priority. — Forrester Media Centre, 2016.
SEE THE POWER
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Be in the relationship rather than the transaction business.� — Joe Wheeler, Director Service Profit Chain Institute, 2015. 7
POWERFUL PROOF. The B2B payment solutions and providers in the C2B2B value chain you choose can drive (or halt) improvements in CX. Especially in the fast-paced travel sector, where customers are expecting a wider choice of travel options and destinations. And we’re seeing strong links between organisations delivering this world of choice and being seen as customer experience leaders. Employee experience also has a big say in customer experience, even in technology focused companies like online travel agencies (OTAs). Research* shows positive employee experience is closely linked to customer satisfaction.
The support team at eNett made the API implementation easy and trouble-free without the need to change our existing systems. Our staff can now use the time saved through automation servicing our customers and growing our business.” — R oberto Bettinelli, Chief Financial Officer Ventura, 2016.
Choosing eNett VANs powers a better employee experience by simplifying or, even better, automating important but timeconsuming tasks like reconciling supplier payments. Allowing and motivating your people to put more energy into higher value, more interesting activities. Like working on things that improve customer experience and drive business results. SEE THE PROOF
* Experience Counts: an untapped opportunity to drive business performance, 2017. 8
International travel is set to increase by 35% over the next decade, and 280 million households globally will make at least one international trip a year by 2025.� — lonelyplanet.com Travel News, June 2016. 9
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HOW VANS CAN HELP.
5
%
increase in customer loyalty can power profit increases of 25% to 85%. — Smith+Co, 2016.
eNett VANs improve both employee experience and customer experience.
.
I mproving CX: More listings in more destinations power OTAs toward improving CX. Leading to happier customers. While protecting* you from increasing risks and costs.
. Improving EX: Faster, easier, safer
payment solutions make critical mid and back office functions simpler and more efficient – contributing to employee satisfaction and productivity.
. Your experience/business
performance: Improving CX drives a bunch of benefits across your business, including financial and operational, powering your business toward success.
e’re passionate about simplifying W payments in the travel industry. This means our customers can focus on things that matter – helping their customers have a better experience. That grows customer loyalty, advocacy, profitability, and business success. LEARN MORE
* eNett VAN terms and conditions apply 11
Globalization and technology have led to the homogenization of cities, which has resulted in travelers craving locally made and authentic experiences. People want to reclaim what’s real. Mass tourism is no longer sufficient.” — J amie Wong, Founder/CEO Vayable, The Rise of Experential Travel, Skift Report, 2014.
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CALCULATE THE BENEFIT. Innovative payment solutions, like eNett VANs, power real improvements in customer experience and employee experience. How much? Well, we’ve developed a CX calculator so you can find out. Using real data from your organisation, like your customer and employee experience ratings. Plus your breadth of content. Our quick and easy to use tool will give you a guide to the growth your business could achieve by focusing on CX. Go on. Give it a test run. CALCULATE NOW
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A travel company with annual revenues of US$50m who is ‘doing well’ with their customer experience could generate:
10
+
%
in customer advocacy. Translating into an increase in revenue to
US$67m over five years (+33%).
— eNett CX Calculator.
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www.enett.com/PowerExperience
Copyright Š 2017 eNett International (Singapore) Pte Ltd AFSL 441376. This document is intended as a guide only. eNett VANs terms and conditions apply. In Australia, we are not licensed to give advice and you should consider the PDS before acting. This document is an independent publication and has not been authorised, sponsored, or otherwise approved by Amazon.com, Inc. or Uber B.V. Various trademarks held by their respective owners.