Welcome to the WebinarStart time: 1:00PM EST, Feb. 10, 2010.Why “Old School” Self-Service isHurting Your Customers…And Wha...
Today’s Agenda•   Introductions•   Presentation from Dr. Natalie Petouhoff, Forrester Research•   CIBC Case Study with Fra...
Housekeeping                              Minimize webinar                              console here                      ...
IntelliResponse- On Demand, Multi-Channel “Answer Suite”- More than 200 live, customer facing implementations- Answering 7...
One Answer, Any Channel                 Answer Suite                 Shared Knowledgebase                                 ...
Today’s Guests                 Natalie L. Petouhoff, Ph.D.                 Senior Analyst                 Fraser Mackay   ...
Why “Old School”Self-Service is HurtingYour Customers…And What you can do about itNatalie L. Petouhoff, Ph. D.Senior Analy...
Agenda1. Customer experience data shows companies must   change2. “Old School” KM and Self-Service are not working3. The e...
The state of customer experiences           are in flux and companies must                adapt new strategies.9   Entire ...
Customer experience                                                                            has a direct impact on     ...
Customers with good experiences buy more                                  Source: April 24, 2009, “The State Of Customer E...
Customers with good experiences are more loyal     Source: April 24, 2009, “The State Of Customer Experience” report.12   ...
Customer Experience Directly Affects Revenue                            Buy more = $43M                            Are mor...
Customer Experience Directly Affects Revenue                            Buy more = $29.7M                            Are m...
Executives say customer                                           experience is important to                              ...
89% say customer experience is a critical     initiative16   Entire contents © 2010 Forrester Research, Inc. All rights re...
80% of Companies Want To Lead Their Peers     In Customer Experience17   Entire contents © 2010 Forrester Research, Inc. A...
However, there is a gap between                                           the importance companies put on                 ...
And this often                                                                            occurs at the                   ...
Customers are disappointed in their     experiences      • Knowledge management and the self-service        channels it su...
Dissatisfaction: Self-Service     • Can’t get what you need, so you       pick up the phone…     • ROI for self-service is...
Poor site design & service flaws drive customers from websites            I was convinced the info I sought was not availa...
Customer frustration leads to website    abandonment            Leave the website and go to a competitive website         ...
Customers are frustrated by company’s website search capabilities         Cannot understand my real question              ...
Key obstacle to online sales success:     lackluster online customer service     service is lacklustre                    ...
Social Media & Mobile have shifted                                      the customer service paradigm...                  ...
It’s Truly a Multi-Channel World27   Entire contents © 2010 Forrester Research, Inc. All rights reserved.
4 OUT OF 5 AMERICANS         USE SOCIAL MEDIA.       Forrester, The Growth Of Social Technology Adoption, 200928   Entire ...
Twitter Facts• Twitter age demographic                 25-34 - 20%                 35-49 - 42%                 55+ - 17%  ...
Facebook Facts                  • > 250 million active users                  • > 120 million users log on to Facebook at ...
Going Mobile                                                                                     9/10 Americans           ...
FACT: Consumers are                                                        going mobile – and bringing                    ...
We must evolve…33   Entire contents © 2010 Forrester Research, Inc. All rights reserved.
Knowledge Management &                                                                              Self-Service enhance  ...
Part of getting the basics right is deciding what     kind of experiences you want to create…  What   Are    UDesigning?35...
Companies often get knowledge     management wrong                 – They confuse content management with knowledge       ...
What is knowledge management?      • Knowledge management systems                 – Focus on getting an “answer.”         ...
What is Enterprise Content Management?• ECM systems:     – Are about documents and       document control.     – They are ...
Differences of ECM and KM      • Knowledge management focuses on relevance                 – Using the most effectively us...
Where’s the confusion?      • It’s all in the “use” of the technology…                 – Take web and database management ...
Where’s the confusion?      • Knowledge management and content management       are frequently confused      • Organizatio...
Sites have content, but hard to find “the” answer      Source: May, 2009 “The ROI of Online Customer Service Communities” ...
Piles and piles and piles of content • Leads to poor   productivity of:         – Agents         – Customers • Poor produc...
Use of content / technology     • Using it for a purpose its not suited for will cause:               – Rapid decline in e...
Wrong use of content / technology • Leads to:         – Rising costs         – Lower customer dissatisfaction         – Lo...
Recommendation:     Take the Multichannel Customer Service     Best Practices Assessment                                  ...
Benchmark knowledge management best       practices             Where would your company score?     Source: January 13, 20...
Join the knowledge management revolution!     Source: April 6, 2009, “How to Win Funding for Your Customer Service Project...
Thank you       Natalie L. Petouhoff, Ph.D.       +1 310.919.8467       npetouhoff@forrester.com       www.forrester.com  ...
Case Study: CIBC Bank• Canadian-based global  financial institution• 38,000 employees worldwide• 11 million clients• One o...
Online Customer Experience“Committed to creating an unparalleled online banking experience for our clients”               ...
Deploying “Next Generation” Self ServiceKey Business Drivers:•Improve Self-Service across multiple channels•Enhance the Cu...
Vendor: IntelliResponse   1. Multi-Channel Multi-lingual Knowledgebase   2. Ask Questions in Natural Language   3. One Rig...
ResultsTangible Benefits:• 29% reduction in e-mail volume during launch day• 49 % average reduction in public e-mails• 25%...
Next Step: CIBC Mobile & Agent Desktop                                         55
Q&A Session                              Please use the                              chat window to                       ...
Thank you for joining us!    HAVE A QUESTION?      Email:      mike.hennessy@intelliresponse.com      Visit our web site: ...
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Why Old School Self Service Is Hurting Your Customers

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Presentation: Why Old School Self-Service Is Hurting Your Customers. Featuring IntelliResponse Systems, Top 10 North American Bank CIBC, and Forrester Research.

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  • Hello Everyone, and welcome to today’s Webinar – entitled “Why old School Self-Service is Hurting your customers, and what you can do about I”My name is Mike Hennessy, & I am the vice president of sales and marketing at IntelliResponse – the sponsors of today’s event. I’d like to thank everyone for taking time out of their schedules today to attend this event, and trust that you will find the next hour informative
  • As I mentioned, todays event will last approximately 60 minutes We have an exciting agenda that will include insights from renowned customer experience and social crm expert Dr. Natalie PetouoffAs well as a multi-channel self-service case study from CIBC one of North America’s top banks We will also have time for questions from the audience
  • Couple of housekeeping items before we begin : All members of the audience are welcome to ask questions via the webinar tool and we will get to as many as we can….Visitors are in listen only mode for the duration of the presentationCopy of today’s presentation will be e-mailed out to everyone afterwards
  • Before I introduce our speakers today – for those of you not familiar with IntelliResponse I thought I would take 2 minutes to quickly introduce our organization We are an award-winning On Demand technology platform – Our Multi-Channel Answer Suite platformallows consumers, students, employees and service agents to ask questions in natural language, and get a single accurate answer - regardless of the hundreds of ways the question may be asked.  We have more than 200 live customer facing implementations across key industry verticals as financial services, utilies, technology, retail and higher education
  • Our Anwswer Suite technology delivers the “One Right Answer” across a wide array of assisted and self-service customer interaction channels that include corporate and institutional web sites, mobile devices, customer service desktops and social media platforms. Wealso provide the direct capability for our customers to embed our technology into internal solutions as well as new mediums, including Avatars and Instant Messaging styled chat.
  • That brings us to today’s guest speakers First up is Dr. Natalie Petouhoff – Natalie is a senior analyst with Forrester ResearchDr. Natalie is often asked to provide her unique point of view acrosss a wide array of media, including on TV (ABC, CBS and NBC) and national radio segments, as an international speaker and as the author of four business books and social media research and white papers. She is a well known and oft quoted expert in the customer service market, with a particular interest in the areas of social CRM and the evolving world of multi-channel customer experience Her thought leadership in social media is often quoted by organizations like BusinessWeek, Fast Company and The New York Times.Fraser Mackay We are also joined by Fraser MackayFraser is the Senior Director of Internet and Mobile Channels at CIBC BankHe is responsible for all of CIBC internet and mobile properties including Online Banking, Investors Edge, Wood Gundy Online, Presidents Choice, WAP and iPhone appFraser has 12 years of international experience in all aspects of building and running online banking, wealth management trading platforms and mobile channels in the Financial Services industry 
  • Willingness to buy more. Across all industries, we found a high degree of correlation between good customer experience and consumers' willingness to make subsequent purchases. The correlation was strongest among TV service providers and weakest among medical insurers. But compared to the previous year's analysis of nine industries, the correlations increased for all industries. TV service providers and investment firms showed the largest jump.
  • Reluctance to switch. Led by TV service providers, seven industries had a high correlation between good customer experience and their customers' reluctance to switch business from their current provider. The rest of the industries showed a medium degree of correlation. The correlation strength increased for every industry that we examined in 2007, with the biggest jump occurring among investment firms.
  • Great – thank you very much Natalie Next we have Fraser Mackay from CIBC Bank to tell us how his organization is leveraging next generation self-service to benefit their organization As I mentioned earlier Fraser is responsible for both the Internet and Mobile Banking channels at CIBC -- A Global Financial institution Fraser?
  • CLIENT NOTE: Perhaps add flash demo animation here?
  • Thanks fraser And now we have come to the question and answer portion of the event As you can see on your screens – feel free to post questions using the chat window
  • Why Old School Self Service Is Hurting Your Customers

    1. 1. Welcome to the WebinarStart time: 1:00PM EST, Feb. 10, 2010.Why “Old School” Self-Service isHurting Your Customers…And What you can do about itHosted by: IntelliResponse Systems Inc.Featuring:
    2. 2. Today’s Agenda• Introductions• Presentation from Dr. Natalie Petouhoff, Forrester Research• CIBC Case Study with Fraser Mackay• Q&A
    3. 3. Housekeeping Minimize webinar console here Use chat window to submit questions at any time during the session!Copyright © 2009, IntelliResponse Systems Inc. All rights reserved. The trademarks identified herein are the trademarks or registered trademarks of IntelliResponse Systems Inc. or other third party.
    4. 4. IntelliResponse- On Demand, Multi-Channel “Answer Suite”- More than 200 live, customer facing implementations- Answering 75 million+ questions with One Right Answer Financial Services Consumer & Corporate Higher Education 4
    5. 5. One Answer, Any Channel Answer Suite Shared Knowledgebase 5
    6. 6. Today’s Guests Natalie L. Petouhoff, Ph.D. Senior Analyst Fraser Mackay Senior Director Internet & Mobile Channel Mike Hennessy Vice President 6
    7. 7. Why “Old School”Self-Service is HurtingYour Customers…And What you can do about itNatalie L. Petouhoff, Ph. D.Senior AnalystForrester ResearchFebruary 10, 2010
    8. 8. Agenda1. Customer experience data shows companies must change2. “Old School” KM and Self-Service are not working3. The explosion of Social media and use of Mobile Devices has tipped the scales for change4. Knowledge management is key to providing better customer experiences8 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    9. 9. The state of customer experiences are in flux and companies must adapt new strategies.9 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    10. 10. Customer experience has a direct impact on the bottom line.10 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    11. 11. Customers with good experiences buy more Source: April 24, 2009, “The State Of Customer Experience” report.11 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    12. 12. Customers with good experiences are more loyal Source: April 24, 2009, “The State Of Customer Experience” report.12 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    13. 13. Customer Experience Directly Affects Revenue Buy more = $43M Are more loyal = $51M $94.2M March 2008 “The Business Impact Of Customer Experience”13 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    14. 14. Customer Experience Directly Affects Revenue Buy more = $29.7M Are more loyal = $41.8 M $71.5M March 2008 “The Business Impact Of Customer Experience”14 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    15. 15. Executives say customer experience is important to their business.15 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    16. 16. 89% say customer experience is a critical initiative16 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    17. 17. 80% of Companies Want To Lead Their Peers In Customer Experience17 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    18. 18. However, there is a gap between the importance companies put on customer experience and Actual customer satisfaction18 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    19. 19. And this often occurs at the First Point of Contact19 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    20. 20. Customers are disappointed in their experiences • Knowledge management and the self-service channels it supports are often the first touch-point • Poorly implemented knowledge management is the “under pinnings” of poor customer experiences • Companies often get knowledge management & self-service wrong – They confuse content management with knowledge management – Not understanding the differences causes mistakes, wasted money and poor customer experiences20 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    21. 21. Dissatisfaction: Self-Service • Can’t get what you need, so you pick up the phone… • ROI for self-service is gone… – Website search returns poor results – IVR is confusing… Source: August 29, 2008, “Why Talking to Your Customers Is Ruining Your Business” report.21 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    22. 22. Poor site design & service flaws drive customers from websites I was convinced the info I sought was not available on the site 28% I just didnt care to look on the site anymore 28% I had difficulty navigating the website 27% I couldn’t find contact info for the appropriate person(s) at the company 20% There was just too much content for me to review, just to find what I was looking for 19% I was interrupted by someone/something unrelated to the website 16% I couldn’t reach a customer service representative over email/text chat to answer my question 12% The number of site search results I found were too overwhelming 11% I wanted to visit the website of another company 10% Other 2% I have never left a site without first finding the information I was seeking 13% 0% 20% 40% 60% 80% 100% Percentage of customers22 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    23. 23. Customer frustration leads to website abandonment Leave the website and go to a competitive website 45% Be less likely to visit the site again 45% Be less likely to buy from them online 40% Leave the website and give up 24% Contact customer service via e-mail 24% Have a more negative overall perception of the company 21% Site visitors are more likely to opt for an alternative site than botherContact customer service via phone regarding my experience 18% to contact customer service Be less likely to buy from them offline 18% Tell others about my negative experience 16% I have never been dissatisfied 4% 0% 20% 40% 60% 80% 100% Percentage of customers 23 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    24. 24. Customers are frustrated by company’s website search capabilities Cannot understand my real question 44% Provided unrelated results 35% Requires registration in order to use it 33% Insufficient outputs Provided too many results 28% Results are confusing 23% Unsure what keyword to use 21% Input obstacles Unsure how many keywords to use 12% Results cannot be saved 9% There are no disadvantages 17% 0% 20% 40% 60% 80% 100% Percentage of customers24 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    25. 25. Key obstacle to online sales success: lackluster online customer service service is lacklustre Pass = 70/100 Points Average scores: Retail: 69 Travel:60 Financial Services: 5225 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    26. 26. Social Media & Mobile have shifted the customer service paradigm... There is no turning back… Change must happen…26 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    27. 27. It’s Truly a Multi-Channel World27 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    28. 28. 4 OUT OF 5 AMERICANS USE SOCIAL MEDIA. Forrester, The Growth Of Social Technology Adoption, 200928 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    29. 29. Twitter Facts• Twitter age demographic 25-34 - 20% 35-49 - 42% 55+ - 17% • 72.5% of the 44 million users joined in first 5 months of 2009 • There are more women on Twitter 53% Women 47% Men • >100 companies using Twitter to interact/ Customer Service Issues Source: Mashable.com and Time Magazine29 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    30. 30. Facebook Facts • > 250 million active users • > 120 million users log on to Facebook at least 1/ day • > 2/3 of Facebook users are outside of college • Fastest growing demographic: 35 yrs old & older • ~70% of Facebook users are outside U.S. Source: Mashable.com30 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    31. 31. Going Mobile 9/10 Americans already own a mobile phone They get a new one every 18 months Source: New York Times and GSM World31 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    32. 32. FACT: Consumers are going mobile – and bringing their customer service questions along with them32 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    33. 33. We must evolve…33 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    34. 34. Knowledge Management & Self-Service enhance customer experiences34 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    35. 35. Part of getting the basics right is deciding what kind of experiences you want to create… What Are UDesigning?35 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    36. 36. Companies often get knowledge management wrong – They confuse content management with knowledge management – Not understanding the differences causes mistakes, wasted money and poor customer experiences36 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    37. 37. What is knowledge management? • Knowledge management systems – Focus on getting an “answer.” – It uses a range of search technology to: • Search/index and • Find content relevant to a user’s specific question. – Help users navigate through large bodies of content (in the closet).37 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    38. 38. What is Enterprise Content Management?• ECM systems: – Are about documents and document control. – They are “closets” or online storage areas for all of a company’s documents.38 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    39. 39. Differences of ECM and KM • Knowledge management focuses on relevance – Using the most effectively use that content: How users interact with content – Capabilities that help users locate specific information residing in many locations – Managing content at the “answer” level – Using technology to enable the content to be mapped to user issues and queries – Using business rules to increase the relevancy of answers and help the user recognize the answer as relevant.39 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    40. 40. Where’s the confusion? • It’s all in the “use” of the technology… – Take web and database management systems for content generation… •Would customer or agent use them as a source of information about a customer’s transaction history or profile? •No, because the information they need is not there….40 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    41. 41. Where’s the confusion? • Knowledge management and content management are frequently confused • Organizations expect content management to serve the knowledge management & self-service functions.41 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    42. 42. Sites have content, but hard to find “the” answer Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report42 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    43. 43. Piles and piles and piles of content • Leads to poor productivity of: – Agents – Customers • Poor productivity leads to frustration • Frustration leads to agent and customer attrition43 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    44. 44. Use of content / technology • Using it for a purpose its not suited for will cause: – Rapid decline in effectiveness •Self-service customers who cannot easily find answers to questions on the company’s site • Agents who spend a long time to find answers…44 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    45. 45. Wrong use of content / technology • Leads to: – Rising costs – Lower customer dissatisfaction – Lower agent satisfaction – Agents attrition – Customer defection – Loss in revenue and profits45 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    46. 46. Recommendation: Take the Multichannel Customer Service Best Practices Assessment Contains more than 150 best practices Source: January 13, 2009, “Forrester Customer Service Innovation Framework and Self-Assessment ” Forrester report46 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    47. 47. Benchmark knowledge management best practices Where would your company score? Source: January 13, 2009, “Forrester Customer Service Innovation Framework and Self-Assessment ” Forrester report47 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    48. 48. Join the knowledge management revolution! Source: April 6, 2009, “How to Win Funding for Your Customer Service Project ” Forrester report48 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    49. 49. Thank you Natalie L. Petouhoff, Ph.D. +1 310.919.8467 npetouhoff@forrester.com www.forrester.com Follow me on twitter: www.twitter.com/drnatalie49 Entire contents © 2010 Forrester Research, Inc. All rights reserved.
    50. 50. Case Study: CIBC Bank• Canadian-based global financial institution• 38,000 employees worldwide• 11 million clients• One of the 10 largest banks in North America 50
    51. 51. Online Customer Experience“Committed to creating an unparalleled online banking experience for our clients” 51
    52. 52. Deploying “Next Generation” Self ServiceKey Business Drivers:•Improve Self-Service across multiple channels•Enhance the Customer Experience Online•Reduce Burden on the Contact Center (deflection of calls/e-mails) 52
    53. 53. Vendor: IntelliResponse 1. Multi-Channel Multi-lingual Knowledgebase 2. Ask Questions in Natural Language 3. One Right Answer Result 4. Dynamic Ranking of Top 10 and Related Questions 5. Real-time Answer Rating System Click to play movie 53
    54. 54. ResultsTangible Benefits:• 29% reduction in e-mail volume during launch day• 49 % average reduction in public e-mails• 25% reduction in calls• Outstanding Real-time “Voice of the Customer” feedback 54
    55. 55. Next Step: CIBC Mobile & Agent Desktop 55
    56. 56. Q&A Session Please use the chat window to submit your questions.Copyright © 2009, IntelliResponse Systems Inc. All rights reserved. The trademarks identified herein are the trademarks or registered trademarks of IntelliResponse Systems Inc. or other third party.
    57. 57. Thank you for joining us! HAVE A QUESTION? Email: mike.hennessy@intelliresponse.com Visit our web site: www.intelliresponse.comCopyright © 2009, IntelliResponse Systems Inc. All rights reserved. The trademarks identified herein are the trademarks or registered trademarks of IntelliResponse Systems Inc. or other third party.
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