Speed to Advocacy: The New Measure of Customer Experience Excellence
-
Upload
bill-hobbib -
Category
Technology
-
view
2.292 -
download
0
Transcript of Speed to Advocacy: The New Measure of Customer Experience Excellence
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Speed to Advocacy: The New Measure of Customer Experience Excellence
Bill Hobbib, VP Customer Experience [email protected] Linkedin: linkedin.com/in/billhobbib Louis Ross, VP, Coach Relations, Beachbody
Oracle Confidential – Internal/Restricted/Highly Restricted
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted
70% of Fortune 500 firms in 1990 are gone today, and 50% are gone since 2000
Very few retailers survive beyond a decade
Iconic brands disappear
Copyright © 2014 Oracle and/or its affiliates. All rights reserved. |
The buyer is in control.
(But you‘re often still marketing, selling and servicing as if this wasn’t true.)
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
Today, Everyone Wants to be Customer-Centric. A Few Companies Actually Get It.
“Companies were in control up until 2000. But now the customer is in the driver’s seat. If you embrace that, you will thrive. If not, then by 2020, you will not survive.”
Oracle Confidential – Internal/Restricted/Highly Restricted 5
— Jamie Nordstrom
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Customer Advocates…
Virtual referral and sales force
Share your brand’s content and offers
Increase positive ratings on online review sites
Defend you and your brand against critics
Help other customers
…most do it for free!
Oracle Confidential – Internal/Restricted/Highly Restricted 6
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
The Ultimate Reward: Advocate Customers
They Spend More…
Spend 2X as much as regular customers
And Stay Longer…
5X greater lifetime value than average customers
Growth (indexed)
Years 5 10 15 20 25
100 200 300 400 500 Loyalty Leader
Average
Net Promoter Relationship to Growth
Source: Bain & Company: How is Net Promoter Score℠ related to growth?
They Help You Grow Faster…
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted 8
More sales driven by brand advocates and 18% more traffic than regular customers
Of customers trust recommendations from people they know
Consider buying product or service recommended by a brand advocate
Of consumers have followed through with a friend’s brand recommendation via social
38%
92%
61%
33%
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
Revenue Upside Potential From Doing This Well
$1.6 billion wireless service provider
$1.4 billion airline
$ 825 million credit card provider
Source: Forrester, “The Business Impact Of Customer Experience” (March 2014)
11% higher hotel rate for 1-point swing in travel review rating
46% more revenue/room for 4+ hotel vs 3 rating
$14,099 average lifetime value of loyal premium coffee chain customer
$10,000+: lifetime NPV of loyal affluent retail banking customer
Sources: Cornell University School of Hotel Administration, “The Impact of Social Media on Lodging Performance,” Kissmetrics, “Calculating Lifetime Value”, Bain “Customer Loyalty in Retail Banking
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
But Most Companies Never Get there
77% of customers cite no relationship with a brand
Oracle Confidential – Internal/Restricted/Highly Restricted 10 1
— Harvard Business Review
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted
Why Many Companies Still Fall Short... The Customer Experience is Broken.
of customers have discontinued communication with a company because of irrelevant promotions and messages.
— Blue Research
94% It’s Transactional
of customers don’t receive a consistent experience across channels. — Accenture
78% It’s Fragmented
82% Departments Struggle to Bring Together Customer Data
of enterprise marketers have no synchronized view of customer data. – Forrester
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Time to Take a Different Approach
Oracle Confidential – Internal/Restricted/Highly Restricted
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted 13
Getting millions of consumers to engage with their brand
Support 400 Social channels globally, with 500 people touching social daily around the globe to improve customer care, build GM’s brand, support corporate reputation. “Customers don’t care about our org chart—they just care about getting answers as quickly as possible. We can’t win doing this in individual silos—we need to look like one team, one GM…Being in social is not an option…ROI tough to measure in dynamic business…corollary to ROI is Cost of Ignoring.”
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Interactive gaming company
Delivering service where their customers are—within the game
Oracle Confidential – Internal/Restricted/Highly Restricted 14
Customers access service directly from game. Company walks fine line between responding directly to game character, or determining issue is severe enough to respond to “Customer”. Service during product launch ramps from zero to millions of transactions.
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Data storage systems company
Oracle Confidential – Internal/Restricted/Highly Restricted 15
Storage appliances self-diagnose issues. When problem diagnosed, device captures all appropriate diagnostics, searches knowledge, automatically creates a case, routes to engineer. Engineer has all of the solutions – can just request permission from customer to apply
Proactive service for data center storage appliances
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
Customer Advocacy Blueprint
Oracle Confidential – Internal/Restricted/Highly Restricted
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
10 Steps Toward Customer Advocacy Gain most complete view of customer & employee data, connect silos
18
Excel at individual interactions
INSIDE OUT OUTSIDE IN
Provide connected, persona-driven buying
journeys
Engage customers via multiple channels
Make it easy to do business with your
company
Proactively listen to voice of customer and
include in innovation
Rethink customer service metrics
Involve and engage employees in all steps of the process
Assess cross-org performance around engaging customers
Institute cultural change around customer obsession
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Technology Solution Considerations
Oracle Confidential – Internal/Restricted/Highly Restricted 19
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
Your customer’s journey could be like this…
20
2. Tailor my engagement based on all interactions
3. Personalize best offer for my budget and needs
4. Keep the transaction process simple
7. Anytime/anywhere customer care
8. Listen and share my experiences
1. Provide me with relevant and timely content and offers
5. Flawless and on time delivery
6. Personalize timely and relevant recommendations
Attract & Nurture
Engage & Close
Support & Listen
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
CUSTOMER BRAND
Complete: Connecting Every Interaction With Your Brand
Marketing
Sales
Social
Service
Commerce Config, Price, Quoting
Commerce Social
Marketing
Service
Social
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
CUSTOMER BRAND
Complete: Connecting Every Interaction With Your Brand
Marketing
Sales
Social
Service
Commerce Config, Price, Quoting
Commerce Social
Marketing
Service
Social
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
Connected/Integrated and Standardized
Higher marketing, sales and service effectiveness
Greater customer retention/loyalty
Reduced time to market and results
Universal customer master
Standardized APIs
Social collaboration
For the customers’ cross-channel journey
Service Sales
Social Marketing
Commerce CPQ
Examples: Social Customer Service
Shopping Cart Abandonment via Marketing/Commerce Customer Acquisition via Look-alike Audiences: Social/Marketing
Integrated Sales & Service End to End Lead to Quote to Order
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
Extensible Extend solution, and integrate to the enterprise
Ability to extend CX applications and build your own
Extend with tech/solution vendor or other PaaS providers
Leverage API Libraries for custom applications
Ease of leveraging investments made in the enterprise
Integrate on-premise with cloud applications to efficiently automate key business processes
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted 25
3C’s of Customer Advocates
Connectors
Content Creators
Communicators
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Keys, Tips for Building Customer Advocates
Deliver a great customer experience Survey customer base to identify advocates Have a strategy for social customer advocacy—and execute it Listen to feedback from advocates Thank everyone for their feedback Reward advocates and followers
Oracle Confidential – Internal/Restricted/Highly Restricted 26
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted 27
Excel at individual interactions
Deliver connected, personalized journeys across all channels
Connect cross-org processes & customer data, eliminate silos
Implement cultural change around customer obsession, advocacy
OUTSIDE IN
INSIDE OUT
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted 28
Source: Corporate Visions
Your Customers
Value Parity
Your Value Wedge and Competitive
Advantage
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
Putting This Into Action How are you innovating and building your unique competitive advantage with customer experience?
Oracle Confidential – Internal/Restricted/Highly Restricted 29
Understand what journeys drive revenue, loyalty and advocacy—and nail them!
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
Oracle OpenWorld 2015 – Registration Now Open
• October 25-29, 2015, San Francisco, CA • Largest convergence of business and IT
– Combining education, engagement, collaboration and experience on today’s hottest topics
• 99.5% of attendees said Oracle OpenWorld delivers on their objectives
Oracle Confidential – Internal/Restricted/Highly Restricted 30
Knowledge. Service. Success. September 10, 2015
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
Louis Ross VP, Coach Relations
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
$1B
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
Service
•24/7: 40,000+ contacts per day •1,400+ service agents in 5 call centers in 4 countries •22 product lines •40,000 orders ship per day
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
Solutions
•Organic Knowledge Base build •Leveraged native ServiceCloud functionality • Internal change management
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
- 5,000
10,000 15,000 20,000 25,000 30,000
Answer Views Per Day . 29,044
Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
ROI
•From 105 articles to 3,000+ •From 900 answer views per day to 29,000 [32x] •10,000/day x $3.50/contact = $12M+ per year saved
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Discussion/Questions
Oracle Confidential – Internal/Restricted/Highly Restricted 38
Email: [email protected] Linkedin: linkedin.com/in/billhobbib Twitter: bhobbib