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Home arrow Marketing Research News arrow Latest Company News And Announcements arrow Nielsen Creates Alliance With ResponseTek To Help Organisations Embrace The ‘Experience Economy’
Nielsen Creates Alliance With ResponseTek To Help Organisations Embrace The ‘Experience Economy’ PDF Print E-mail
Written by Nielsen   
18 Jan 2016
Nielsen forecasts the right solutions could potentially save businesses €1.6bn a year in lost revenue from customer churn in Telco alone

Nielsen, a leading provider of consumer insights and information, has launched its new Customer Experience practice, incorporating the new Nielsen Listening Platform, an alliance with ResponseTek, a global leader in Customer Experience Management (CEM) software.

The new practice will help organisations differentiate their products and services through the experience they give to their customers.

“We’re helping businesses to create greater differentiation, increase brand appeal and drive growth by delivering a superior and customised customer experience across all relevant touchpoints of the customer journey, thus embracing the Experience Economy,”
explains Nielsen Customer Experience Practice Leader, Frank Martinez.

He continues: “The average company loses 10% of its customers each year. Moreover, acquiring a new customer can cost a business up to five times the amount it costs to retain an existing ones. Competition for consumers is fierce, so companies are looking for greater precision, understanding and control to ensure they’re meeting the increasing demands and expectations of their customers.”

The Nielsen Customer Experience practice is a fully-fledged, omnichannel and end-to-end framework designed to:

  • Ensure customer experience is directed to deliver on brand promise in a way that meets or potentially surpasses customers’ expectations, through expectation mapping and journey prioritisation
    Consistently and systematically measure customer experience delivery across critical journey touchpoints and to act on the voice of the customer (NPS, satisfaction, complaints) in real-time
    Enable businesses to convert customer feedback and insights into concrete operational improvements and generate analytics that drive business outcomes (e.g. retention)

The practice incorporates the new Nielsen Listening Platform. By merging an omnichannel and real-time CEM software platform with advanced analytics and key business insights, the Nielsen Listening Platform enables organisations to manage performance at an individual consumer level, across all channels and touchpoints (e.g. call centre, stores, apps), both offline and online, ultimately turning static CEM reporting into business improvement that strengthens customer relationships and drives improved commercial results.

Nielsen forecasts that amongst the 1 billion individual subscribers to Telco services alone in Europe, over 120 million of them will be classified as ‘at risk’ of churning in the coming 12 months. With the right focus and solutions in place, businesses have the potential to save at least 4 million of those customers, retaining nearly €1.6bn in potential lost revenue.

Martinez explains: “Our alliance with ResponseTek delivers a unique end-to-end proposition that fuses cutting-edge transactional customer experience technology and market-leading advanced analytics and insights. Our clients will now be able to transform their businesses with much greater agility to drive targeted commercial outcomes. In addition to optimising customer experience through a better touchpoints definition process and performance measurement, it will also provide our clients with the ability to make decisions based on deeper insights.”

ResponseTek CEO Syed Hasan explains: “By working together, ResponseTek and Nielsen have redefined the underlying value proposition for an enterprise Customer Experience Management programme. The combination of our transactional customer experience data with Nielsen’s advanced analytics and customer insight gives organisations access to real-time intelligence on the delivery of their brand experience, and rapidly identifies key drivers to acquire and retain high value consumers.”

The Nielsen Customer Experience practice, including the Nielsen Listening Platform, is now available across Europe to companies in service-oriented industries such as Telecom, Retail, Travel, Automotive and Financial Services, as a transformative business solution, putting customers at the heart of brand success, service delivery and optimisation and, of course, commercial outcomes.

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