voice of the (social)customer:
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Voice of the (Social)Customer:
Listen and Then Act
Voice of the (Social) Customer
Voice of the (Social) Customer
“The revolution has not been a business revolution, it has been a social revolution – one in how we communicate.” – Me, 2009
VOICE OF THE (SOCIAL) CUSTOMER
Who is the Social Customer?
• The Social Customer – The Rise New definition of trusted source
2008 Edelman Trust Barometer (60%), most trusted – “a person like me.”
Not an industry expert or academician or financial advisor Information available nearly instantaneously – either structured or
unstructured via the web (Google, Yahoo, MSN) On Demand software as a service Enterprise value chain supersedes siloed supply, demand & support
chains Link between lifestyle and business – consumers adopt “sexy” content The experience is the thing
Voice of the (Social) Customer
Edelman Trust Barometer 2003 – “A Person Like Me” – 22% 2004 – “A Person Like Me” – 51% 2005 – “A Person Like Me” – 56% 2008 – “A Person Like Me” – 60% Most trusted source moved from non-connected (to corporation) experts
to “a person like me.” Customers demand authenticity & transparency now
Voice of the (Social) Customer
Voice of the (Social) Customer
Social customers communicate: 24X7 Via multiple channels With accelerated & enhanced expectations With the idea that all institutions will respond the way we want them to With trusted sources i.e. peers
Sea change in use of technology
Gen Y first generation to spend more time on the ‘Net than watching TV
Implications for marketing staggering
74% of all U.S. adults spend time online (source: Pew Internet & American Life Project)
Voice of the (Social) Customer
• The Social Customer – The Establishment Social networks as active participants in effecting change (blogosphere,
podcasting) Collaboration between company & customers to provide useful value for
each begins Personal value chain subsumes enterprise value chain Ubiquitous technologies leading platform The Live Web (Web 2.0) (Twitter, Facebook) Customer begin to include business as feature of life choice, not a
separate factor – user generated content becomes part of business (Samsung open IP to engineers)
The social customer is increasingly a mobile customer Consumerization of the enterprise (Blackberry Pearl)
Voice of the (Social) Customer
• Using Social Networks• Nielsen Online research “Global Faces on Networked Places”
(March 2009):• Fastest growing sector for Internet use is communities and
blog sites (5.4% in a year)• Member communities reach more Internet users (66.8%)
than email (65.1%)
Voice of the (Social) Customer
Voice of the (Social) Customer
Source: Brian Solis
• Each customer wants a personalized experience…• They couldn’t care less if they are high value or low value customers
They don’t know if they are high or low value to you But you have to accommodate even low value customers because of
what they can do to you if you don’t• But how do you begin to “know” millions of customers?
First, understand how they interact with you at every point, in every channel
That means detailed mapping, not just surveys, etc. Ultimately, the tools for the customer to manage their own experience
are paramount Give them access to information that allows them to make informed,
empowering choices which thus, provide value
Voice of the (Social) Customer
VOICE OF THE (SOCIAL) CUSTOMER
Voice of The Customer
The social customer is demanding a rich, engaging customer experience
Contact centers and multi-channel interactions with the customer are where the experience with a business is typically most intense.
Customer service is becoming perhaps the most important of the CRM pillars
Voice of the (Social) Customer
Insight Doesn’t Come Easy Social customer demands much more of company Company needs to know the customer personally
Not just transactions Not just behaviors Not just demographic info But emotions and attitudes Plus who the influencers are
Voice of the (Social) Customer
Knowing how the customer is thinking & feeling is of paramount importance to that insight.
How do you find this out when The customer communicates on multiple channels? There are thousands & even millions of customers?
Voice of the (Social) Customer
Must monitor & analyze all channels However, don’t be fooled by myth of decreasing interest
in using phone Forrester in 2007 found that preferred channel for customer
service was phone including Gen Y (source: NATRMCE&SB Survey, 4thQ, 2007)
Gen Y Stats: Call – 41% Store visit – 35% Email – 6%
When dealing w/enterprise 77% still prefer phone (DMG Consulting)
Voice of the (Social) Customer
What’s the real problem here? Another study from RightNow & YouGov Plc in 2007 of 2800
British consumers found that 69% of the respondents had actively complained between 1 & 5 times to a company
Expected the problem to be fixed to their satisfaction – 60% Actually fixed to their satisfaction – 27% No action taken at all – 34%
Voice of the (Social) Customer
Bad customer service can go viral
Voice of the (Social) Customer
Great customer service & insight can create advocates – who can go viral
Voice of the (Social) Customer
VOICE OF THE (SOCIAL) CUSTOMER
Social CRM: Companies Respond
Voice of the (Social) Customer
It’s all built around the conversation...
Voice of the (Social) Customer
NETWORK
Need to look at the social network & social graph….
Influence
VOLUME
Tonality
Frequency
Voice of the (Social) Customer
And at the level of the individual phone call….
Voice of the (Social) Customer
DECIBELS
Emotion Detection
Keywords/phrases
Tempo
Context
What is common to both is that the customers are aggressively conversing
Voice of the (Social) Customer
And that you are capturing and analyzing the live conversations in real or near real
time
Voice of the (Social) Customer
What does this picture tell you?
I’m asleep
I’m frustrated
I’m dead
Visual (or verbal) cues provide information but, you still have to
interpret & judge
Voice of the (Social) Customer
What do you do – Customer Service Models Agent based call centers (Ayava, Genesys, Siebel, Amdocs) Process based CRM (Sword-Ciboodle) Community driven customer service (Helpstream, RightNow) Customer experience focused call customer service (Kana) Web self service (RightNow)
Voice of the (Social) Customer
Looking at the Technology
Voice of the (Social) Customer
“If companies mined the data that they were sitting on in all those megabytes of recorded customer calls, they would have a much clearer idea of what problems were costing them precious dollars in customer service. They could focus future development efforts on fixing those issues and reduce the volume of costly customer support contacts.”
Ian Jacobs, Senior Analyst, Datamonitor (DestinationCRM, June 13, 2009)
Voice of the (Social) Customer
Technology Text/sentiment analytics Speech analytics CCPM systems Social media monitoring AVR/IVR Web Self-Service
CRM Integration
Voice of the (Social) Customer
Contact Center Performance Management Key customer-driven components
First Call Resolution (FCR) Root Cause Analysis Next-Best Action Customer Experience Analytics
Voice of the (Social) Customer
Speech Analytics Word spotting Context Stereo capture – agent and customer Emotion detection
“Yeah, you’ve been just great to me.” Data
Reason for the call, Competitors' names or products mentioned Call length.
Voice of the (Social) Customer
Voice of the (Social) Customer
Savings & Benefits of Speech Analytics Hard $$ Soft $$StaffReduction in agents X XReduction in QA staff X
Increased supervisory efficiency XCostReduction in call volume xIncreased FCR x
Reduction in agent talktime xReduction in hold time x Reduction in line charges x
Reduction in agent turnover xRevenueIncreased sales xDecreased cost of sales xIncreased campaign conversion rate xCorporateImproved regulatory compliance x x
Improved customer experience xImproved customer loyalty and branding x
Timely competitive information xSource: Donna Fluss, DMG Consulting, March 2007
Key Speech Analytics Benefits re: Customers
With all this change going on, remember: The social customer controls the conversation, but not your
business With all the transformation going on, the use of technologies like
speech analysis supports insight, it doesn’t substitute for it. Be smart in how you interact and with the tools you use to
enhance the interaction and you will benefit Don’t change and your business will suffer
Voice of the (Social) Customer
Author: CRM at the Speed of Light (4th Edition, November, 2009)President: The 56 Group, LLCManaging Partner/CCO: BPT Partners,EVP: National CRM Assn.Co-Chair: Rutgers CRM Research CenterNamed #1 CRM Influencer (Non Vendor) by InsideCRM 2007Named #1 CRM Blogger 2005, twice in 2007 by TechTarget and InsideCRM & InsideCRM 2008CRM Magazine 2008 Top InfluencerPGreenblog: http://the56group.typepad.comCRM 2.0: The Conversation (ZDNET): http://blogs.zdnet.com/crmEmail: paul-greenberg3@comcast.netTwitter: http://www.twitter.com/pgreenbeCell phone: 703-551-2337
THANK YOU
Voice of the (Social) Customer
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