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The Future and its implications on Customer Relationships
 

The Future and its implications on Customer Relationships

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The convergence of macro economic factors with the exponential trajectory of technology advancement is leading us into the next generation of business models and customer expectations

The convergence of macro economic factors with the exponential trajectory of technology advancement is leading us into the next generation of business models and customer expectations

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  • There are times where I provide answers. Today, I hope there are a whole lot of questions swimming around in your head. If you walk out of today’s sessions with more questions than when you walked in, then I will have accomplished what I set out to do.
  • . If we’re going to explore the future of customer relationships – It probably makes the most sense to ask: What does the future look like?
  • If any of us knew exactly what the future held, we’d be rich right. But there is the ability to project, view, and begin to anticipate where things are going to be. To use a bit of a cliché, skate to where the puck will be What Does the Future Look Like? I have no idea. But let’s do our best to investigate
  • Recommend taking a look at this stuff
  • This also includes geo-location capabilities –come up with scenarios Show Layar Video? Screening, Interacting, Sharing, Flowing, Accessing, Generating
  • Richard DeFrancisco
  • Shift from ownership to access (rental), Amazon EC2, netfliz, zipcar, spotify, rackspace (benefits of ownership are decreasing
  • Talk to this is more detail
  • Hackers could let inmates break out of prison Everything is being computerized Our body diagnostics can be measured in real time simultaneously Sharing at the data level, not only people, but the internet of things – if you want total personalization, you have to be transparent
  • "How far off," he asked in a 2006 essay posted to his blog, "is a future in which the creative economy overflows the thin boundary that separates 'information' from 'stuff'?"
  • Dutch startup “Sparked” has installed sensors in cows that helps monitor the health of the cows
  • The web will be smarter, more personalized, and ubiquitous – Kevin Kelly
  • The Web Within Us: When Minds and Machines Become One Google Calculations per second per $1000 have been following a double exponential trend in the past century, and over that period have been doubling every 2.1 years. – Technology advancement is actually exponential, not linear. Doubling every 18 months is roughly a factor of 10 in five years. In 10 years that’s a factor of 100. In 25 years it’s roughly a factor of 100,000 – collective processing power of computing will exceed the processing power of all human brains combined by 2040
  • 24 Doublings of Price-Performance in 36 years, doubling time: 18 months not including vastly greater RAM memory, disk storage, instruction set, etc.
  • We find that the advancement of technology is relatively dizzying and fast paced. But let’s look at the customer expectations to examine if these are changing at the same pace – Poll the audience? Are customer expecations shifting as quickly as technology is advancing?
  • Get Feedback from the audience There are fundamentals at play here – but there’s also some shifts because of what is possible in how those fundamental expectations are fulfilled
  • Kindle, square, salesforce.com, yammer, app stores – I want access now
  • But sometimes I want the waiter to tell me what to order. I want my wife to tell me what I should do. I want those who know me to lead me to what they know I would appreciate, because they know me and they know things I don’t
  • In the absence of trust or desire to invest in communicating information, I want to do it myself, but a trusted advisor who knows me, who is trustworthy makes my life easier.
  • NICE systems also does similar recommendations for its clients agents in real time when they are on the phone – all of these require me to share information with them via my behavior and requires no additional investment of time
  • We find that the advancement of technology is relatively dizzying and fast paced.
  • Customers are not just recipients of your goods, they are active participants in your value chain: The contribute to Ideation and innovation Customer to customer self service They share stories about your experience good and bad – everything experiences the network effect They share your content They refer and/or recommend you in social networks (or not)
  • Threadless, Giff Gaff, IBM,
  • Threadless, Giff Gaff, IBM, Proctor & Gamble, InsideView, Grameenphone, GlaxoSmithKline, Innocentive, Legos, Video Game Consoles, RedHat, Gillette “ The Future is already here – it’s just unevenly distributed”
  • We find that the advancement of technology is relatively dizzying and fast paced.
  • http://www.inc.com/magazine/20080601/the-customer-is-the-company.html Both Threadless and GiffGaff really started with the community first – then extended looked for the revenue opportunity
  • Your Encore – harnessing retired scientists, engineers, product managers Connect & Develop – Open Innovation Platform Innocentive – spinoff of Eli Lilly – P&G participates there Vocalpoint - Feedback community of moms In each of the three cases, the organizations have created a platform for customers and company participants to interact, innovate, create, buy, sell, support – it’s a constantly evolving ecosystem
  • The Creation of Facebook, the response to the Japan Tsunami, the Egyptian Revolution and response of Google to enable voice to tweet. Zappos redirecting customers to buy elsewhere for things that they don’t have in stock, I 20 year High School Reunion – the formalization of these types of capabilities will revolutionize how things get done. I envision a world where visions are cast, goals are communicated, jobs are defined and enablers are sourced in real time. The next iteration after that is the automation of this discovery, analysis, and value chain cycle with the availability of big data and analytic engines sitting on top of it.
  • We find that the advancement of technology is relatively dizzying and fast paced.
  • Envision a world where visions are cast, goals are communicated, jobs are defined and enablers are sourced in real time. The next iteration after that is the automation of this discovery, analysis, and value chain cycle with the availability of big data and analytic engines sitting on top of it.
  • Access to unlimited information, people, and resources allows for ad hoc formations of movements, revolutions, and businesses, and or new opportunities for arbitrage. The Emergence of New Currencies (Trust, Reputation, Social Impact, Attention) *** Find data from UmairHaque here – Adrian makes argument that time and attention are today more valuable than money The commoditization of everything in “The Race to Free” – Chris Anderson’s argument In order to compete in the new economy, create things (or experiences) that cannot be copied, but are easy to pay for. (Immediacy, Personalization, Authentication, Findability (we pay amazon for findability), embodiment (physical presence), Interpretation (what is it, how does it work?), accessibility, Attention – where ever attention flows, money will follow – Kevin Kelly
  • There are times where I provide answers. Today, I hope there are a whole lot of questions swimming around in your head.

The Future and its implications on Customer Relationships The Future and its implications on Customer Relationships Presentation Transcript

  • 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?
    Brian Vellmure http://www.brianvellmure.com @CRMStrategies
  • 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
  • Brian Vellmure http://www.brianvellmure.com @CRMStrategies
  • 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
  • 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?
  • Brian Vellmure http://www.brianvellmure.com @CRMStrategies
  • Brian Vellmure http://www.brianvellmure.com @CRMStrategies
  • 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
  • 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
    Brian Vellmure http://www.brianvellmure.com @CRMStrategies
  • 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
    Brian Vellmure http://www.brianvellmure.com @CRMStrategies
  • Brian Vellmure http://www.brianvellmure.com @CRMStrategies
  • 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
  • Brian Vellmure http://www.brianvellmure.com @CRMStrategies
  • Brian Vellmure http://www.brianvellmure.com @CRMStrategies
  • Brian Vellmure http://www.brianvellmure.com @CRMStrategies
  • 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