TRANSFORMATION STRATEGY
Overview
A multi-billion dollar technology company took a significant hit to revenue and market share in its cash cow business segment. The company lacked strategic direction and measurable KPIs and a roadmap for technology driving improvements in customer experience and overall financial performance. Lexico stepped in to develop key program metrics and a three-year roadmap to revamp the customer experience and drive improvements in critical business KPIs.
Pain Points
- Declining market share
- Customer retention
- Poor customer experience
- Lack of strategy and direction on digital technologies and associated P&L impact over time
Solution Profile
- Facilitated workshops with executive team
- Identified 4 KPIs and additional prioritization criteria which drove strategy and roadmap development
- Developed customer experience strategy and roadmap of over 100 programs, sequenced to maximize KPI improvement
- Developed customer experience transformation story for corporation utilized by C-suite leaders for socializing and driving transformation agenda
Results
- Projected 15-25% improvement in each of the 4 KPIs (implementation in progress)
- Clarity and right-sized capital investment plan
- Projected return to industry benchmark performance levels on customer retention (implementation in progress)