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Social Customer Self Service


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Using social collaboration tools and social media to lower the cost of customer contact / call center support. …

Using social collaboration tools and social media to lower the cost of customer contact / call center support.

Presentation for IFA Life Social Media in Financial Services in London (13 January 2010).

Published in: Technology, Business, Education

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  • 1. Social Customer Self Service in financial services sector Lee Provoost, Technology Strategy at Headshift Social Media in Financial Services 13 January 2010, London
  • 2. Headshift, part of the Dachis Group smarter > simpler > social > Headshift is Europe's leading social business consultancy. We help organisations use smarter, simpler, social technologies to improve business performance, communication and employee engagement. London | Sydney | Austin
  • 3. Workforce Collaboration Enterprise 2.0
  • 4. Customer Participation Social Media
  • 5. Clients
  • 6. Social Customer Self Service What’s in it for me? “... study of the Lenovo community noted a 20% decline in the rate of call volume comparative 2007 to 2008 time periods ...” Lower TCO of support. Faster response time. Scalability in peak situations
  • 7. Fidor Bank AG Banking with friends Matthias Kroner, CEO Fidor: “It is the people who are the bank.”
  • 8. giffgaff People powered mobile network giffgaff - the people powered mobile network
  • 9. Zopa Marketplace for Social Lending People lend and borrow money with each other, sidestepping the banks.
  • 10. Customer Communities The benefits • Reduced cost in dealing with customer contact • Greater reach when interventions are made • Gradual creation of a knowledge base, co-created by members • Generation of interesting data for customer care, marketing and PR
  • 11. Swarm Intelligence User generated content, ambassadors and 1/9/90 rule
  • 12. Community Manager The intentional creation of a community Task: • Set the tone of the boards. • Welcome new users. • Thank users for contributions. • Summarise discussions. • Act as the face of the brand. Background: • “social media junkies” • ex-community leads • Customer care • Technical support team Enjoy engaging with customers!
  • 13. Return On Investment Show me the money Natalie and Forrester modelled some ROI estimates on a hypothetical company with 500,000 customers that receives approximately 30,000 calls per month. In the report, she calculates that over a three-year time frame, such a typical company will probably need to invest approximately $1.2 million for a well- functioning online customer service community. The estimated payback in benefits will be seen within the first year, Forrester estimates. The analyst firm’s model suggest that the first-year outlay for the hypothetical company will total about $500,000 in start-up costs, but will return about $900,000 in benefits. Benefits will continue to accrue at about $900,000 a year in the years after than, while annual costs will run about $400,000. Forrester Research - The ROI of Online Customer Service Communities service-communities/
  • 14. Everyone is an ambassador now The bigger picture
  • 15. Customer Community Platforms Overview with some of their high profile clients Jive Social Business Software Telligent Awareness Social Media Marketing Lithium
  • 16. Thank you! Q&A + Contact details Lee Provoost Technology Strategy at Headshift Twitter: @leeprovoost E-mail: London SE1 2NQ