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Hi, welcome back.

If you remember, in the last lecture,

we learned about how to identify touch points.

In this lecture, you will learn how to prioritize the key touch points,

those that make or break the brand experience.

From the last lecture, we mapped out the touch points for our target customers.

Now we need to place our map next to our purchase funnel.

Why?

Because understanding customer conversion can focus the organization on

those high impact target customer touch points.

Our first task is to identify overlaps between our touch point map and

our purchase funnel.

How do we do this?

We screen those overlaps by considering impact on conversion and revenue, ability

to differentiate versus competitors, the link to our business strategy.

If you're launching a new brand simply by the fit with your brand vision.

The next step is to align our resources to improve touch point efficiency.

So how do we do this?

We compile our spending against each touch point.

Then we evaluate those allocations relative to the conversion impact.

Once we have completed this task, it is time to redesign or

design, if you're launching a new brand, the touch points.

This is the fun part, why?

Because we develop alternative scenarios for each of these touch points.

We evaluate those alternatives on fit with our strategy, cost,

scalability and likelihood of improving customer experience.

We also create test and implementation plans.

We'll talk more about this in the next module,

on the lesson of how to embed the brand in the organization.

If you think of the steps that we have followed, we now have a measurement system

that links customer experience to business outcomes.

First, by overlapping touch points with a purchase funnel, we defined which

are the relevant touch point activities that need to be designed or re-designed.

Then we actually re-thought the touch points based on our brand values.

Afterwards, we tested and learned which of attitudes and

behaviors we could influence through our customer funnel data.

And finally we could link each of these changes to a specific metric.

Whether we'd be creating awareness,

revenue growth, return on marketing investment, etc.

You're very thorough, you should analyze this for every target segment.

Let's look at the small hotel chain example from our last lecture.

We began with our formal research.

So we had to interview some guests to determine the ten most impactful

touch points for both the business and the leisure traveler targets.

We use this data to understand that overlap between the customer touch points

and the purchase funnel.

Since there is a lot of information,

you might want to pause the video to take a quick look so

you can get an understanding of what this case looks like.

So you might be asking yourself,

how do you actually prioritize a high impact touch points.

I like to think of high impact touch points as those that have the ability to

influence in a compelling way, the behavior of a target customer.

When evaluating which are those high impact touch points, think of

the frequency of a touch point, how many times your customers will experience it,

the influence of the touch point in the actual purchase decision.

Be realistic about your possibilities.

For instance,

consider your organization's true ability to deliver that new brand strategy.

Therefore, let's agree that high impact touch points are those that make or

break the brand experience.

They're the ones that either convince you to buy, or turn you away.

In which touch points can your customers be truly more influenced?

Think of the last time you purchased something.

Which was the critical touch point?

I have a short cut to help you prioritize those high impact touch points.

In this tool, we have a graph with two axis.

On the x-axis we use the criteria, ease of implementation.

And this can mean cost, time, or resources.

And it goes from complex or high costs on the left to simple and

lower costs on the right.

On the y-axis we have relevancy for the customer.

And it moves from less relevant on the bottom to very important on the top.

If our touch point is complex, or even if it's simple, to implement,

but not relevant for our target customer, we should not invest in it.

If the touch point is complex or

costly but very important to our client purchase design,

we should develop a better understanding of what needs to be redesigned or

changed, and evaluate the business case before investing.

Where we should definitely focus are those touch points,

there are simple in implementation and very important to our customer.

Let's go back to our hotel example.

In order to be able to prioritize,

we had decided to cross out the first list of touch points.

Let's say the shower touch point analysis.

Once the list was developed and the cost analysis was complete,

we prioritize each type of touch point, user, or tool.

But given the extreme competition in the hotel industry in Spain,

we decided to add another variable to our prioritization criteria,

the uniqueness of the experience that we could create.

Which we were able to infer from the competitive analysis we completed

back in module two.

At the end, we had a prioritized list of touch points,

which the team felt comfortable and enthusiastic to change.

So let's recap.

First, we inventory our touch points by placing ourselves in the target

customer's shoes.

Second, we establish a short list of

touch points by evaluating touch point impact on the customer experience.

And finally we prioritize touch points based on our tool.

One important caveat, if we have more than one customer segment

like in our hotel example, we need to consider both needs.

If we think of a lemonade business,

which ones do you think should be our prioritize touch points.

Now that we know how to prioritize touch points,

let's decide what is the roles of those touch points in our customer experience.

We will cover this topic on our next lecture, see you there.

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5.4 Prioritizing the key touchpoints.

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