How to Elevate the Moments that Matter

Author: Brittany Thomas

We’ve all been there – that one crucial experience with a company that made you a fan for life or had you heading straight to the review page to leave one star. These experiences are known as “Moments that Matter”. 

As a business, you will have vast amounts of data available to provide insights into pain points and opportunities to improve the customer journey. However, it can also highlight a wide range of opportunities that can lead to analysis paralysis. How do you know which opportunities are Moments that Matter and focus your efforts to drive business and customer value?
 

The Value of Moments that Matter 

Successful customer-centric organizations prioritize the key interactions that have the greatest impact on customer satisfaction. Moments that Matter (MTM), are the interactions that could lead to losing a customer if handled poorly or could be an opportunity to influence customer loyalty. A clear understanding of the Moments that Matter can help teams confidently prioritize customer experience efforts that will add the most value and impact.  

In practice: RevGen helped a Luxury Homebuilder define a future state customer journey map by highlighting the Moments That Matter, bringing to life a vision of what the customer experience would be. We then developed a digital capabilities matrix that enabled the builder to evaluate and prioritize digital functions to develop to improve the customer journey. Read more here. 

Getting Started 

Now that we have established the value of Moments that Matter, let’s explore how organizations can move from ideation to implementation with a concept evaluation process. 

1. Build a Cross-Functional Team of CX Champions: To gain different perspectives and organizational buy-in, form a dedicated team made up of representatives from different departments. Creating a concept evaluation process with a group of cross-functional leaders will help vet ideas quickly and prioritize customer-centric efforts that align with your broader business strategy.  

2. Synthesize Identified Opportunities: First, gather the list of pain points and opportunities you have identified from your Customer Experience data. Then synthesize the identified pain points and opportunities by categorizing your list into common themes into logical groupings that could be addressed together.  

A helpful way to visualize patterns is to group the identified opportunities into the phases they occur in the customer journey. What are the top five themes that you see? 

3. Assess Customer Impact: Now that you have a list of top pain points and opportunities, it is important to quantify the customer impact to help prioritize opportunities. Look at your data to understand: 

Frequency (What percentage of your customers are impacted? How often?)  

Level of customer impact (Leverage data from website analytics, surveys, Net Promoter Score (NPS), CRM data, etc.) 

Read More: Leveraging customer data to provide actionable insights  

4. Evaluate Business Impact: Once you have synthesized the ideas into a list of top 5 opportunities and understand the customer impact, it is important to evaluate how these ideas align to your organization’s broader business strategy. A traditional business case will help you assess the opportunity cost and benefit.  

To help teams quickly assess business impact, the best practice is to create a shared template that can be completed and reviewed by CX Champions to evaluate if this is a valuable opportunity to pursue further. Prioritize the ideas that score high on customer and business impact and filter out the ideas that do not. 

5. Design Solutions: Now that you have a list of opportunities to elevate the Moments that Matter, bring together cross-functional team representatives to brainstorm potential solutions. What are ways you can close the gap from your current state to your vision?  

You can develop prototypes for your future state ideas and test them with customers through user testing and interviews. This allows you to incorporate customer feedback and refine the prototype further to create a Minimum Viable Product. After you have started to explore the future state solution, draft an initiative charter, and further define the business case with expected costs and benefits. The initiative charter and business case help CX Champions evaluate priority and feasibility of the proposed initiatives.  

Read more: A Gateway to Innovation: Design Thinking  

6. Develop an Implementation Roadmap: After the cross-functional leads have prioritized initiatives that will enhance your customer experience, you are ready to create an implementation roadmap. We recommend a phased roadmap that incorporates quick wins to build organizational buy-in and sequences the initiatives to keep the highest priorities as the main focus.  

In practice: RevGen helped a bank identify opportunities to improve its digital customer experience while avoiding costly investments in the wrong solutions. To identify the Moments that Matter, we reviewed customer insights and market data with a cross-functional team and then assessed customer and business impact.  

Through this evaluation, we learned that there was an opportunity to deliver a digital end-to-end loan approval process and improve digital cash management capabilities. RevGen helped the client design solutions then created a prioritized roadmap that outlined what the client needed to develop, enabling them with “quick win” iterative steps they could use to improve their custom experience. Read more here. 

When it comes to implementing new initiatives, teams often face limited resources and budgets as barriers. Time and again, our clients have come to us with overwhelming numbers of good ideas to help improve the customer experience, and no idea which to prioritize. By helping them build a concept evaluation process, we created a method for their organization to filter where they should invest resources and budgets to support initiatives that optimize the Moments that Matter and drive business value.  

Want to learn more about the other CX services we offer?  Visit our Customer Experience page.

Brittany Thomas is a Manager at RevGen Partners specializing in customer experience. She helps organizations build customer-centric teams and data-driven solutions that create positive experiences for both customers and employees.