how the future of crm can help your customers and your business by kate leggett at engage 2016

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How the Future of CRM Can Help Your Customers and Your Business Kate Leggett, Vice President, Principal Analyst

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Page 1: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

How the Future of CRM Can Help Your Customers and Your

BusinessKate Leggett,Vice President, Principal Analyst

Page 2: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

Customers Control the Conversation That They Have with Businesses

Source: September 12, 2014 “The CIO’s Blueprint For Strategy In The Age Of The Customer” Forrester report

Page 3: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

Companies AreFocused on Delivering Better Experiences

Page 4: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

What Are Your Customer Expectations?

Page 5: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

Good Customer Experiences Are Good for Business

Source: June 27, 2014 “What Drives A Profitable Customer Experience” Forrester report

Retentionloyalty

Enrichmentloyalty

Advocacyloyalty

The likelihood that a customer will keep existing business with the company

The likelihood that a customer will buy additional products and services from the company

The likelihood that a customer will recommend the company to others

Page 6: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

Two thirds of companies use CRM as a foundation for customer engagement.

The CRM software category was a $24B

category in 2015. It is projected to grow by 20% in 2016 and 13% in 2017.Source: “The Business Applications Landscape 2016 To 2020: SaaS Disruption And Vendor Proliferation” Forrester

report

Page 7: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

But CRM Success Is Often Elusive

Page 8: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

CRM Is Purchased for the Wrong ReasonsCRM provides:

– Better customer visibility– Better pipeline management– More efficient service – Better campaign targeting – Better management reporting

CRM is sold: – As a list of features and functions– To better support an organizational silo

How is CRM

supporting a

customer trying to

get something

done?

Page 9: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

It’s about delivering differentiated experiences at scale to keep your customer satisfied.

Page 10: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

Effectiveness

Emotion

Ease

Page 11: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

Effectiveness

Emotion

Ease

Page 12: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016
Page 13: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

It’s about Valuing Your Customer’s Time

Source: January 5, 2016 “The Future Of Customer Service”

53% will abandon online purchases if

they can’t find a quick answer.

For 73%, valuing their time is the most important way to

provide good service.

Page 14: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

63% B2B buyers RESEARCH half or more of their work purchases

online.

74% Buying products or services for work from a website is more convenient

that buying from a sales rep.

93% Prefer to buy online when they’ve decided what to buy.

Source: Q4 2015 Forrester/Internet Retailer B2B Buy-Side Survey

Page 15: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016
Page 16: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

Customer Service Embraces Digital Channels

83% Phone

76% Email

65% Chat

43% Twitter

84%Help or FAQs on a company website or mobile website

Base: 4473 US adults (18+) Forrester Technographics, Customer Lifecycle Survey 2, 2015

Page 17: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

Customers Increasingly Self-Serve

83% Phone 76% Email

65% Chat

43% Twitter

84%Help or FAQs on a company website or mobile website

Base: 4473 US adults (18+) Forrester Technographics, Customer Lifecycle Survey 2, 2015

Page 18: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

Effectiveness

Emotion

Ease

Page 19: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

Personalize Interactions

Profile

Situation

Future Needs

Page 20: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016
Page 21: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

Understand the quality of leads

Pinpoint the right prospects

Recommend the right collateral

Streamline the sales process

Connect sales to the right

contactRecommend the right collateral

Identify the target market

Pinpoint discounting thresholds

Identify product bundles

Identify the right hire

Identify the right next step

Page 22: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016
Page 23: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

Effectiveness

Emotion

Ease

Page 24: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

It’s about Proactive Engagement

Page 25: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

CRM + IoT Can Transform Experiences

Page 26: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

IoT and CRM Can Transform Business Models

Page 27: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016
Page 28: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

“Are you calling about that text message we just sent you?”

Source: http://gizmodo.com/the-crazy-things-delta-does-to-cancel-fewer-flights-tha-1557539055; Image source: WikiMedia (http://commons.wikimedia.org/)

Page 29: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016
Page 30: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

We face a wave of innovation.

Page 31: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016
Page 32: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

Good Customer Experiences Are Good for Business

Retentionloyalty

Enrichmentloyalty

Advocacyloyalty

The likelihood that a customer will keep existing business with the company

The likelihood that a customer will buy additional products and services from the company

The likelihood that a customer will recommend the company to others

Source: June 27, 2014 “What Drives A Profitable Customer Experience” Forrester report

Page 33: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

What It Means

Don’t forget the EQ.

Align CRM with your CX strategy.

Support customers through their journey.

Deeply personalize interactions.

Page 34: How the Future of CRM Can Help Your Customers and Your Business by Kate Leggett at Engage 2016

Thank You! Kate LeggettVice President, Principal [email protected]: @kateleggett