Speed to Advocacy: The New Measure of Customer Experience Excellence

38
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

Transcript of Speed to Advocacy: The New Measure of Customer Experience Excellence

Page 1: 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

Page 2: Speed to Advocacy: The New Measure of Customer Experience Excellence

Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted

Page 3: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 4: Speed to Advocacy: The New Measure of Customer Experience Excellence

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.)

Page 5: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 6: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 7: Speed to Advocacy: The New Measure of Customer Experience Excellence

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…

Page 8: Speed to Advocacy: The New Measure of Customer Experience Excellence

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%

Page 9: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 10: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 11: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 12: Speed to Advocacy: The New Measure of Customer Experience Excellence

Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |

Time to Take a Different Approach

Oracle Confidential – Internal/Restricted/Highly Restricted

Page 13: Speed to Advocacy: The New Measure of Customer Experience Excellence

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.”

Page 14: Speed to Advocacy: The New Measure of Customer Experience Excellence

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.

Page 15: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 16: Speed to Advocacy: The New Measure of Customer Experience Excellence

Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |

Customer Advocacy Blueprint

Oracle Confidential – Internal/Restricted/Highly Restricted

Page 17: Speed to Advocacy: The New Measure of Customer Experience Excellence

Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted

Page 18: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 19: Speed to Advocacy: The New Measure of Customer Experience Excellence

Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |

Technology Solution Considerations

Oracle Confidential – Internal/Restricted/Highly Restricted 19

Page 20: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 21: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 22: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 23: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 24: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 25: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 26: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 27: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 28: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 29: Speed to Advocacy: The New Measure of Customer Experience Excellence

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!

Page 30: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 31: Speed to Advocacy: The New Measure of Customer Experience Excellence

Knowledge. Service. Success. September 10, 2015

Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |

Louis Ross VP, Coach Relations

Page 32: Speed to Advocacy: The New Measure of Customer Experience Excellence

Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |

Page 33: Speed to Advocacy: The New Measure of Customer Experience Excellence

Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |

$1B

Page 34: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 35: Speed to Advocacy: The New Measure of Customer Experience Excellence

Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |

Solutions

•Organic Knowledge Base build •Leveraged native ServiceCloud functionality • Internal change management

Page 36: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 37: Speed to Advocacy: The New Measure of Customer Experience Excellence

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

Page 38: Speed to Advocacy: The New Measure of Customer Experience Excellence

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