The Future and its implications on Customer Relationships

EXPLORING THE FUTURE And its impact on Customer Relationships Brian Vellmure Initium LLC / Innovantage http://www.brianvellmure.com http://www.twitter.com/CRMStrategies

WHAT WILL THE FUTURE LOOK LIKE?

I HAVE NO IDEA
But let’s look at some concepts

MACRO TRENDS Brian Vellmure http://www.brianvellmure.com @CRMStrategies

MACRO TRENDS
Economic Uncertainty
Global Reorganization: Rise of BRIC countries and beyond
Fragile Environment – Focus on Sustainability
Climate Change
Biotech advancement– expectant trajectory as information technology
Aging Populations
Collective Intelligence
Mashups (Cultural, People, Information)
New measurement metrics:
Triple bottom line
New currencies (trust, reputation, societal impact, credits)
Brian Vellmure http://www.brianvellmure.com @CRMStrategies

SEVERAL POTENTIAL FUTURES
Growth
Constraint
Collapse
Transformation
Other?

IMPORTANT MACRO TRENDS

TECHNOLOGY TRENDS Brian Vellmure http://www.brianvellmure.com @CRMStrategies

The Expansion of the Social Web LinkedIn InMaps Brian Vellmure http://www.brianvellmure.com @CRMStrategies

Mobile / GeoLocation / Augmented Reality

Cloud Computing Brian Vellmure http://www.brianvellmure.com @CRMStrategies

Video and Unified Communications Cisco Telepresence Brian Vellmure http://www.brianvellmure.com @CRMStrategies

Gamification Klout and Foursquare Badges Brian Vellmure http://www.brianvellmure.com @CRMStrategies

“ Every industry that becomes digital eventually becomes free ” Chris Anderson

The Digitization of Everything Portrait by Popeye Francom

" How far off is a future in which the creative economy overflows the thin boundary that separates 'information' from 'stuff'?" Tim O’ Reilly

More data = More intelligence = Better Decisions?

The Internet of Things Brian Vellmure http://www.brianvellmure.com @CRMStrategies

The Internet of Things In 2008, the number of “things” connected to the internet exceeded the number of people on the planet. By 2020, there will be more than 50 Billion “things” connected. Source: Dave Evans, Cisco

The Semantic Web (Web 3.0) will one day be automatically connecting you with potential customers, prospects, partners, suppliers, employees … Based on your signals your reputation your networks And perhaps even making decisions on your behalf. Credit: iphones.ru Brian Vellmure http://www.brianvellmure.com @CRMStrategies “ The web will be smarter, more personalized, and ubiquitous” - Kevin Kelly

HOW SOON IS THIS COMING? Brian Vellmure http://www.brianvellmure.com @CRMStrategies

Price/Performance Doubling every 18 months Source: Ray Kurzweil Brian Vellmure http://www.brianvellmure.com @CRMStrategies

CUSTOMER EXPECTATIONS Brian Vellmure http://www.brianvellmure.com @CRMStrategies

What do your Customers Want? What WILL your Customers Want? Brian Vellmure http://www.brianvellmure.com @CRMStrategies

Help me to get my job(s) done Fundamental Customer Expectations Help me to feel good Brian Vellmure http://www.brianvellmure.com @CRMStrategies

Know me
Be competent
Be trustworthy
Here’s what else our customers want
Be likeable
Be relevant
Be available

How are Customer Expectations changing?

Growing expectations of immediacy

Great experience regardless of channel

70% of a typical buying process is completed
Before a sales person gets involved
Source: Sirius Decisions Photo courtesy of freefoto.com

Except when they don’t … Brian Vellmure http://www.brianvellmure.com @CRMStrategies

“ I actually think most people don't want Google to answer their questions.
They want Google to tell them what they should be doing next.”
Eric Schmidt

Know me
Be competent
Be trustworthy
Remember these?
Be likeable
Be relevant
Be available

A NEW CUSTOMER LANDSCAPE Brian Vellmure http://www.brianvellmure.com @CRMStrategies

EVOLVING CUSTOMER RELATIONSHIP DYNAMICS They are now Active Value Chain Participants They (could) have input to product/service direction They are your brand managers They (could be) Tech Support / Customer Service

From Individual Customers… to Networks of Customers
From Delivering Value to Customers… to Co-Creating Value with Customers
From Hierarchical Command & Control… to Collaborative Hybrid Organizations
From Customer Lifetime Value… to Customer Network Value
From Stand-alone Companies… to an Ecosystem of Networked Partners
From Company Push… to Sensing and Responding in Real-Time to Customers
Pioneering a new customer landscape Dr. Graham Hill: A Social Business Manifesto

The Future is already here It’s just unevenly distributed Pranav Mistry – Sixth Sense

CASE STUDIES Brian Vellmure http://www.brianvellmure.com @CRMStrategies

This is about more than “customers” Brian Vellmure http://www.brianvellmure.com @CRMStrategies

Circles: The real driver behind social

People found, aggregated, and feedback gathered in just a few days Brian Vellmure http://www.brianvellmure.com @CRMStrategies

THE AM-HOC VALUE CHAIN Brian Vellmure http://www.brianvellmure.com @CRMStrategies

NOT the Ham Hock Value Chain

The Emergence of the Am-hoc Value Chain Big Data Social Networks Ambient Awareness Recommendation Engines Artificial Intelligence Reputation and Ranking Systems Faster Cycles Ubiquitous Internet Access HTML5 The Semantic Web Exponential Increases in Computing Power Brian Vellmure http://www.brianvellmure.com @CRMStrategies Content Networks The Am-Hoc Value Chain

The Am-Hoc Value Chain The automated, rapid formation of a new value chain around an emergent customer need. Brian Vellmure http://www.brianvellmure.com @CRMStrategies

The Am-Hoc Value Chain Brian Vellmure http://www.brianvellmure.com @CRMStrategies Internet of Things Web Services Content Networks Social Networks Self Assembling Around Emergent Customer Needs

The Am-Hoc Value Chain Internet of Things Web Services Content Networks Social Networks People will still play an important role in assembling all the right Ingredients for the customer

Keys to Success in an “Am-Hoc world” Brian Vellmure http://www.brianvellmure.com @CRMStrategies
Begin and continue to build the plumbing for the coming changes:
Seek to better understand your customer’s jobs to be done (and even your customer’s customers)
Merge cross platform and cross channel data for deeper customer insights
Extend and nurture your social graph(s)
Extend and Enrich Content Libraries (Creation and Curation)
Consider ways to enable construction of new value chains (with your org as the platform)

Key Skills in an “Am-Hoc world” Brian Vellmure http://www.brianvellmure.com @CRMStrategies
Access to Networks, Content, and Tools
Awareness (Ambient Awareness, Activity Streams)
Agility (Rapid shifts in customer demand)
Empowerment (De-centralized workforce)
Creativity (New problems, new opportunities, less routine work)

In a world where access to almost anyone and anything is available from anywhere, and in many cases will be automatically RECOMMENDED How will you compete and WIN?

Brian Vellmure Initium LLC / Innovantage http://www.brianvellmure.com http://www.twitter.com/CRMStrategies THANK YOU! EXPLORING THE FUTURE And its Impact on Customer Relationships

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The Future and its implications on Customer Relationships

by Brian Vellmure on Aug 10, 2011

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The Future and its implications on Customer Relationships — Presentation Transcript