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Lithium Whitepaper: Serious Social Response

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  • 1. serious social response
  • 2. share this whitepaper contents 1 the Twitter explosion 2 getting it wrong 3 getting it right 4 the real-time customer care challenge/opportunity 6 keepin’ it real with community 7 serious social response, serious ROI 9 best in class social response request a demo subscribe to SocialMatters Lithium social software helps the world’s most iconic brands increase loyalty, reduce support costs, drive word-of-mouth marketing, and accelerate innovation. Lithium helps brands to build vibrant customer communities that: reduce service costs with social support grow brand advocay with social marketing lithium.com | © 2013 Lithium Technologies, Inc. All Rights Reserved drive sales with social commerce innovate faster with social innovation 2
  • 3. share this whitepaper the Twitter explosion Technology-fueled customer-led disruption is at the door. And brands aren’t ready. Too many brands have watched Nowhere is this more apparent than on Twitter. With its painfully as customer questions and issues coming across exploding user-base, Twitter turned into one of the world’s the Twitter feed multiply over night. Every night. Night after largest brand-consumer communication channels over night. night. Unless they have a way to respond efficiently and Unlike earlier media revolutions like radio, TV—even the early effectively, they know that in what Forrester Research calls Web—this channel is 100% in the hands of the consumer. “The Age of the Customer”, they’ll face one mother of a customer experience crisis. Indeed, many brands already are. Forty-eight percent of customers today report feeling Active Twitter Users: 218 million frustrated when they don’t receive a quick response to Average followers: 208 each expectations are high. their inquiries through social media.1 It’s no wonder—their Average minutes/month on Twitter: 170 each Source: AllTwitter Social media has indelibly changed the way we communicate and therefore changed customer expectations. Because communication through social media is now very different in three important ways: It’s persistent, transparent and two- 57% of consumers expect the same level of service through social media 24/7 way. Evidence of what consumers think of your brand is there for all to see—ostensibly forever. Which puts your brand’s responsiveness in the spotlight, warts and all. 32% 42% expect a response within 1 hour Sources: Inbound Marketing Agents, Convince and Convert expect a response in 30 minutes 24% a response within 24 hours 1
  • 4. share this whitepaper getting it wrong Most brands don’t outright ignore the fact that their customers are on Twitter—97% use branded Twitter handles. But most use the channel as a broadcast medium tweeting on average 221 times per week.2 What’s desperately missing on Twitter from brands is active, timely response. Eightypercent of tweets about companies require an actionable response,3 but 70% go ignored.4 Silence. It’s about the worst possible customer experience a brand can deliver. While customer expectations for timely response over social channels continues to grow, those could be the most expensive 140 characters you’ll ever ignore. 93% of consumers have switched brands at least once in the past year because of a poor service experience Source: NewVoice Media 2
  • 5. share this whitepaper getting it right For more and more consumers, being online is now The social customer experience—open, transparent, peer- synonymous with being social—65% of Internet users today to-peer brand and product discussions happening in online use social networking sites and half of consumers now communities and social networks—is fully in the hands of claim they are fluent or expert in social media.6 And they’re your customers and it’s always on 24/7. You can bury your bringing their consumer behavior with them to the social head in the sand and ignore your customers on Twitter, you web. Seventy-two percent report they use social media to stay can default to traditional broadcast tactics over social media, connected with brands and 51% say they use social media to or you can adapt by recognizing that: 5 share product experience and advice.7 1. increasingly, your customers think of Twitter as a Social media is here to stay. Your customers have turned it utility—a one-stop-shop for getting quick and relevant into a channel for connecting with you whether you show up customer support. or not. Your job, of course, is to do way more than just show up. Your job is adapt your business functions such that they are best suited for today’s social customer. 2. “support is the new marketing”—service experiences are becoming more influential on overall brand perception. 3. your social responsiveness can seriously impact the customer experience. 4. there’s upside when you get it right—huge upside. The revenue benefits of a better customer experience range from $31 million for retailers to $1.3 billion for hotels and wireless providers. Source: Forrester Research 3
  • 6. share this whitepaper the real-time customer care challenge/ opportunity “Targeted and relevant real-time [customer care] requires businesses to move faster than they are used to, acquire technology that’s just barely been invented, and use creative capabilities they don’t yet have.” time across the top 100 retailers on Twitter is a disheartening -Jeffrey Dachis, The Dachis Group precisely because that’s how human beings prefer it. Social 11 hours 15 minutes. A mere 20% of top retailers provide social response within an acceptable time frame, while 19% don’t respond at all.9 Social moves us increasingly toward real-time interactivity customers are already learning that looking for help from others like themselves online is the closest thing to real- the challenge time support they can get, and it’s fast becoming their preferred channel. One of the biggest hurdles to exceptional social media responsiveness is the challenge of operating in real-time. Businesses are used to getting actionable data every 30, 60 or 90 days, not seconds. But that’s precisely what social media when customers need help: has presented to business: an urgent need to exponentially step up social media responsiveness. And it’s going slowly. While 56% of customers begin their customer service journey via a digital touch point, 41% of those then switch to a traditional channel before achieving 63% search for a solution online from others like themselves resolution8—begging the question, what happened? Why are digital and social service experiences missing the mark? One answer is that customers simply expect them to be much faster. We’ve long known that customer expectations are different for call center vs. email inquiries. Now that social media is becoming one of the Big Three service channels, we’re discovering that customer expectations here are even 47% use call centers 45% use email 30% use live chat more demanding—and less fulfilling. While customers expect social customer care in near real-time, the average response Sources: CMO Council, McKinsey 4
  • 7. share this whitepaper 50% of consumers expect to find service and support on Facebook—10% of brands provide it Just 30% of brands use social media to improve service and responsiveness Just 19% of customer service teams are using social channels Contrast these response times with the 11+ hours top retailers now take to respond over social channels and imagine how different the experiences are—and which, of course, is better. And remember that when customers get Sources: CMO Council, Our Social Times the service they want and expect, they can indeed be very good to brands. The problem is that brands have been much slower to get to the social media trough than have their customers. Why? Sixty- consumers will recommend the product or service to a friend seven percent claim they don’t have the time or resources, 50% After a good customer experience 86% of can’t measure success and 42% lack the competency.10 After a great customer experience, 79% the opportunity And that social media makes it very easy to spread their of consumers will always or frequently become repeat buyers Because a full 81% of brands still haven’t figured out social enthusiasm. customer care, there’s still room for you to differentiate on social responsiveness. Because of markedly changing customer expectations, moving from batch to real-time +12% always share it processing—particularly in the area of customer support— is delivering huge value gains for those getting there early. Time Warner Cable resolves 78% customer care issues on Twitter—and does it 30% faster Sky responds to tweets in an average of 8 minutes 32% frequently share it 84% are likely to post about good experiences via social media. Globe repsonds to over 40,000 social conversations in five minutes or less 40% of consumers sometimes share good customer experiences via social media Source: Empirix 5
  • 8. share this whitepaper keepin’ it real with community Before social media and the Internet, options were limited for Dialing a customer community into your social customer care getting the word out about your brand and products—television solution builds four big benefits: commercials, magazine ads, and billboards. With only a few seconds at most to grab people’s attention and drive the message home, broad strokes were the way to go. But the same catchy one-liners and visual clichés that have been advertising staples for decades simply don’t work through social media—especially when it comes to customer care. Scripted responses, templates and canned quips will miss the mark when it comes to social. Yet, that’s what most brands Top 10 most followed brands tweet every :06 to :20 do—use social media as a broadcast channel. Consumers want authenticity from brands today, not cleverness. They want relevance, not noise. There is nothing more authentic than hearing about how another customer like yourself solved your problem, nothing more relevant than finding the precise answer you were looking for right away. And there’s no better place to get both those things— authenticity and relevance—than a customer community. minutes trusted content—Just 14% of consumers trust brands while a whopping 92% trust their peers. Your customers will engage more with content they trust. SEO value—when you host the conversation, you get the traffic. analytical insight—now you own the information, not Facebook or Twitter. Now you can derive actionable insight and develop predictive customer analytics. cost savings—the only way to truly scale your social customer care solution is with the help of your customers. Every customer that helps just one other saves your business a full service interaction. 26% of A1 community users find the solutions they need from the A1 community in under 3 minutes. 25% consider the A1 support community their primary service channel, saving A1 an estimated 168,000 service interactions per year. ############## ############# ###50% of brands tweet 30x week ################################################# ############################################### #################################################### ################################################## ######################US brands tweet on average 221x week Source: mediabistro 6
  • 9. share this whitepaper serious social response, serious ROI Serious social responsiveness has countless benefits both more satisfied customers hard and soft. From significant cost reduction to a more differentiated brand, savvy, adaptive organizations garner big benefits from their investments in more relevant and responsive social customer care. lower costs With serious social response: 100% of giffgaff support is handled by customers, and the brand enjoys an NPS of 73%—one of the highest in the world. After BskyB introduced social customer care across multiple platforms: • Calls are an average of 1:48 shorter • 29% of customers say they no longer need to call for help • Customer satisfaction rose to 87% Time Warner Cable increased social agent productivity by 57% Cisco reduced resolution time by 32% and saved $7 million Customer satisfactions investments are often considered a “nice to have,” rather than an essential. Not so. Investments in customer satisfaction are essential. Satisfied customers Time is money. The more time you save with each service stick around longer and their loyalty is worth serious coin. interaction, the more money you save. Better yet—if you fully deflect a service interaction to a social channel, and if the service issue is fully resolved in that channel, you can practically cross the cost of that interaction right off your It’s 50% easier to sell to existing customers than find new ones balance sheet. Depending on the industry, using agents to serve customers can cost hundreds of dollars per interaction, whereas a social customer care interaction can cost as little as pennies. Attracting a new customer costs 5x more than keeping an existing one A 5% increase in customer retention increases profitability by 75% 80% of your company’s future revenue will come from just 20% of your existing customers Sources: Forbes, Bain & Co., Gartner, Lee Resources, Inc. 7
  • 10. share this whitepaper richer differentiation higher brand advocacy For most brands, the customer experience is top of mind. Still think brand advocates are a myth? Like unicorns and Tinkerbelle? Before you dismiss the idea entirely, consider that the most frequently used word in Twitter profiles: “love”. 90% of brands declare CX is a top strategic goal 75% of brands aim to make the CX a point of differentiation Social customers are passionate customers. Social media taps into an age old human behavior—perhaps our most defining characteristic—the drive to share. 74% of social customers use social media to Source: Forrester Research encourage friends to try new products But the outpouring of user-generated content across the web has been a huge disrupter for business and many are still grappling with how to handle it. The plethora of channels, platforms, apps and solutions available today often result in disjointed, inconsistent customer experiences—the very opposite of what brands are trying to achieve. The result is that few do it well. source: CMO Council Consumption has always been a social act—something we share about ourselves, something we relate to in others. From, “these rocks make the best arrows” to “my new iPad rocks!” humans have always had a deep drive to share the experiences they have with the objects they use every day. Your job is to make sure those experiences are top notch—by 64% of companies ranked “OK”, “Poor” or being exceptionally responsive via social channels. “Very Poor” on the experience they delivered. 100% of giffgaff support is provided through source: Forrester Research social channels—and 75% of new giffgaff What this means for your business is that customer subscriptions are driven by word of mouth experience leadership is still up for grabs. Differentiating your brand from the competition by becoming one of the most   socially responsive around is entirely within your grasp. 8
  • 11. share this whitepaper best in class social response Best in class social resonsiveness requires a social response 3. specialized roles tool for high-volume customer service interactions—one that Speaking of right message, right agent…the most productive scales as your team (and social volume) grows. And that’s service agents have specialized roles— Agents, Supervisors just your ante—table stakes for getting in the game. To win, and Managers are typical of large customer service you need to go beyond just meeting customer expectations— organizations. Use roles with access levels that match skill you have to exceed them. Here are the five pillars of a best in sets to get social customer care teams up and running class social response solution: efficiently and effectively. 1. authentic conversation 4. meaningful measurement Canned responses over social media are a big no-no and Mentions, fans, followers, trending topics, word clouds—all social customers will call you out to all their fans and great data, but your social response solutions is all about followers if you make the mistake of “talking at” them instead response. You need to know how well you’re meeting of “speaking with them”. The millions of tweets and posts out customer need, and for that, you need actionable intelligence. there aren’t just announcements, they are conversations and Measure social response success with metrics like time to should be treated as such. agent response, queue backlog, customer satisfaction and 2. priority routing flush rate. The concepts introduced and perfected by high-volume 5. community content contact centers such as IVR menus, call routing and “Keep it real and keep it coming”. There’s no more authentic message queues can now be applied to social customer content than community content. And there’s no way to scale support applications. Before an agent even sees a post, your social responsiveness without it. Customer communities workflow, automation and prioritization engines running are authentic content engines that continually produce behind the scenes should deliver the right message to the reliable support content and deliver it quickly. right agent at the right time. 9
  • 12. share this whitepaper 1. Is Your Social Media Response Satisfactory? Inbound Marketing Agents 2. How Social Media is Changing Customer Service, Mashable 3. Conversocial 2013 4. Maritz Research 5. Internet Adoption Over Time, Pew Internet 6. Kelton Research 7. The Digital Divide, CMO Council 8. McKinsey, Digitizing Customer Care 9. Half of Top Retailers Resolve Service Issues Through Social Media, BizReport 10. 9 Quirky Facts About Twitter Users, The Huffington Post About Lithium Technologies: Lithium social software helps companies unlock the passion of their customers. Lithium powers amazing social customer experiences for more than 300 iconic brands including AT&T, BT, BestBuy, Indosat, Sephora, Skype and Telstra. The 100% SaaS-based Lithium Social Customer Experience™ platform enables brands to build and engage vibrant customer communities to drive sales, reduce service costs, accelerate innovation and grow brand advocacy. For more information, visit lithium.com,or connect with us on Twitter, Facebook and our own community–the Lithosphere. Lithium is privately held with corporate headquarters in San Francisco and offices across Europe, Asia and Australia. The Lithium® logo is a registered Service Mark of Lithium Technologies. All trademarks and product names are the property of their respective owners. 10