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How Social Media is Transforming Customer Service and the Customer Experience

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Song Revival

So we’ve established 1. that better customer experiences are critical to a company’s financial strength and viability. 2. We’ve also seen data on how disappointed customers are about their experiences… In this last section we are going to look at what you can do – 3. And we will explore where companies are with respect to implementing customer service best practices And some ideas for you to take back to your organization and use right away.

Clients get on a gut level better customer experiences are more profitable. But they wanted us to quantify that. Forrester asked ~5,000 consumers to rate customer experiences in 3: 1. Whether the experience was useful- did they get what they needed to do, done 2. Was it easy and 3. Was it enjoyable? From this we calculated a Customer Experience Index. The higher a company’s Customer Experience Index, the more the customers buy from them.... And…

So we’ve established 1. that better customer experiences are critical to a company’s financial strength and viability. 2. We’ve also seen data on how disappointed customers are about their experiences… In this last section we are going to look at what you can do – 3. And we will explore where companies are with respect to implementing customer service best practices And some ideas for you to take back to your organization and use right away.

Can’t get no satisfaction

So we’ve established 1. that better customer experiences are critical to a company’s financial strength and viability. 2. We’ve also seen data on how disappointed customers are about their experiences… In this last section we are going to look at what you can do – 3. And we will explore where companies are with respect to implementing customer service best practices And some ideas for you to take back to your organization and use right away.

50% of Web transactions completed with agent Web self-service is stymied because of poor implementation and inadequate cross-channel management Better website design (1/3 uncompleted transactions) Monitor click streams and operation data for areas to improve and services to deliver Page tags- tracks real users in a natural setting Provide better search capabilities NLP tools Knowledge management tools Self-learning Integrate it into all other systems In this research we see a high web form abandonment rate. harnessing the power of the web to offer realtime service and support to online customers. Referred to as “web collaboration” because of the uniquely collaborative nature of the interactions it enables, this technology set includes chat and cobrowse tools. help them with online purchases and filling in webforms, guide them around the website, and even show them where to get self-service As a customer service channel, chat has some unique advantages over phone. It tempers emotions and reduces the likelihood of miscommunication due to accent and cultural differences. Also, the complete interaction is recorded and the transcript is emailed to the customer. In fact, organizations are beginning to use web collaboration also to increase the efficiency of their phone-based customer service. Cobrowsing speeds up problem resolution over the phone and makes for enriched customer experience and reduced service costs. The cost advantage of web-based customer service has provided a strong reason to enterprises to opt for web collaboration versus assisted service through the phone or site visits. A customer service interaction through the phone typically costs $33 as compared to $10 for a chat session. MINIMIZE REVENUE LOSS

Evaluate your customer phone agent capabilities

Evaluate your knowledge management capabilities

What’s your customer service experience score? Compared to best practices Compared to your peers?

There’s a revolution

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How Social Media is Transforming Customer Service and the Customer Experience - Presentation Transcript

  1. “ How Social Media is Transforming Customer Service and the Customer Experience” Natalie Petouhoff, Senior Analyst, Forrester Research Gary McNeil, Vice President, Marketing, Parature Inc.
  2. Our Business
    • Parature is a leading provider of on-demand software (SaaS) for customer service and support
    • Parature enables organizations to:
    • Reduce the cost of supporting their customers
    • Have a 360 view of customer issues
    • Retain their customers
    • Improve customer satisfaction
    • Generate more revenue from their base
    • Deliver “legendary” customer service
    • One stop shopping
    • One integrated software suite – on-demand
      • Parature Portal
      • Parature Ticket
      • Parature Knowledgebase
      • Parature Reporting
      • Parature Chat
      • Parature Forum
      • Host of other modules
    • “ With Parature, we do not have to increase our CSR headcount…we would have needed two to three additional CSR’s with the rate that JobFox is growing.”
    • - JobFox
    Parature - One Integrated Suite
  4. Parature Reduces Support Costs By 5X *A survey published by the Association of Support Professionals compares the high cost of phone support to email and web self-service support.
  5.  
  6.  
  7. Consistent Track Record, Quarter Over Quarter I love your product and will be more than happy to do a case study and press release for you. A few months ago, I thought I had to hire more Customer Support Reps, but now my reps are asking for more work because your product has reduced much of the workload. “ “ - Victor Pitts, VP Support, Moniker 27 Quarters of Growth, 750 Customers and High Retention Rates
  8. 750+ Customers In All Industries and Sizes Technology Business Services Gaming and Digital Media Education Associations Healthcare
  9. Macro Trends on Customer Service and Support Source: SSPA and Wikipedia, 2007
    • Support Channel preferences are radically changing with each generation
    • New technology trends can impact customer service behavior
    • Understand who your target customer is and how they prefer to be supported
    • A new generation of Service Desk Agents embracing newer technology
    • Customers want many social media service options:
      • Log a chat session with a quick question
      • Go to a forum to have another customer help them with their answer
      • Deliver instant feedback on your customer interaction
      • Customer service via iPhone
    • Post a tweet on Twitter
      • Organizations are forced to act on social media interactions from their customers
      • Sometimes it is a customer who is venting about a product or service
      • Responses to the customer tweet are warranted and in many cases necessary
    Social Media and Next Generation Customer Service
  11. Key Chat Capabilities Issue Summary 1 Toolkit 2 Shortcuts 3 My Chats List 5 Priority 6 Toolbar 4
  12. In-Game Chat Support (XMPP)
  13. New Twitter Integration
    • Help companies search the millions of ‘tweets’ to find relevant conversations
    • Capture the conversation by creating a new ticket that tracks the original ‘tweet’ & enables easy response
    •  
    • Easily funnel relevant solutions from your knowledgebase into a ‘tweet’
    •  
    • Create reports to analyze how many tickets are being generated from ‘tweets’
    Monitor What Your Customers are Tweeting About Your Business Capture and monitor “tweets” about what others are saying about your business or service experience. Measure Twitter Traffic Versus Other Support Channels in Real-time.
  14.  
  15. How Social Media is Transforming Customer Service and the Customer Experience Natalie L. Petouhoff Senior Analyst Forrester Research June 24th, 2009
  16. Agenda
    • Creating branded customer experiences is critical to a company’s success
    • But companies are not providing good customer experiences – customers are disappointed
    • Social Media is the key to transforming customer service and the customer experience
  17. Source: April 2008 “Customer Experience Thrives With Executive Leadership report. Customer experience is critical initiative
  18. Customers with good experiences buy more Source: March 24, 2008, “The Business Impact Of Customer Experience”, report.
  19. Customers with good experiences are more loyal Source: March 24, 2008, “The Business Impact Of Customer Experience”, report.
  20. Agenda
    • Creating branded customer experiences is critical to a company’s success
    • But companies are not providing good customer experiences – customers are disappointed
    • Social Media is the key to transforming customer service and the customer experience
  21. Consumers prefer speaking to an agent Source: August 29, 2008, “Why Talking to Your Customers Is Ruining Your Business” report
  22. Only 45% of customers were satisfied with agent phone service Source: March 31, 2008, “How Consumers Research, Buy, And Get Service” report.
  23. Dissatisfaction is related to…
    • Agent phone service
          • Incorrect problem diagnosis
          • Incomplete or contradictory answers
          • Having to repeat information already provide via key pad or saying it to an agent…
          • Number of transfers to “experts”
          • Agent attitude
  24. Source: May 2008 “Making Experience An Integral Part Of Customer Service” report. Web: least satisfying customer care channel
  25. Agenda
    • Creating branded customer experiences is critical to a company’s success
    • But companies are not providing good customer experiences – customers are disappointed
    • Social Media is the key to transforming customer service and the customer experience
  26. What is social media and Web 2.0?
    • Groundswell: A social trend in which people use technologies to get the things they need from each other, rather than from traditional institutions like corporations.
    • Web 2.0 : A set of applications enabling efficient interaction among people, content, and data to collectively fostering new business practices and social structures.
    • Social media : Blending Web 2.0 tactics with customer service to engage with customer communities and draw value from social interaction.
  27. What is social media for customer service?
    • It’s…
      • Twitter
      • Online communities- Lithium, Helpstream, Jive…
      • Facebook, LinkedIn, MySpace
      • RightNow, Parature and nGenera
    • It’s not just a…
      • Forum
      • A wiki
      • A blog…
    • It’s a community that interacts with each other on an ongoing basis
  28. Customer disdain, social media and customer service have…
    • … formed a perfect storm that is super charging change
  29. Today’s topic…
    • Online customer service communities
      • The 90:9:1 mix of communities
        • Customers post questions
        • 90% read the answers
        • 9% post answers
        • 1% (Super users) post most of the answers
        • What isn’t answered by other customers, super users or community manager, gets answered by contact center agents
  30. Who’s got an online community? B2C… Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
  31. Who’s got an online community? B2B… Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
  32. Verizon… Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
  33. iRobot… Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
  34. myFICO… Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
  35. Intel… Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
  36. What is a Customer Service Online Community? Source: January 21, 2008, “The Economic Necessity Of Customer Service” Forrester report
    • Online communities have evolved from “bulletin boards”
    • Today they are “posts” in the form of forums, blogs, and chats.
    • Updated “posts” sent via email or RSS syndication subscriptions
    • This instantly distribute new information to EVERYONE
  37. TEI ™ is Forrester’s ROI methodology Costs (Impact on budget) Benefits (Impact on business) Flexibility (Options) R I S K
    • Uncertainty
      • Impact of “assumptions”
    • Benefits
      • Quantified value
      • Defined metrics
    • “ Options” created
      • Are there new opportunities the future?
    • Cost
      • People
      • Process
      • Technology
    Source: August 4, 2008, “The Total Economic Impact™ Methodology: A Foundation For Sound Technology Investments” Forrester report Total Economic Impact
  38. Assumptions
    • Attracts super users
    • Engages community to be honest about their opinions
    • Company is interested in community’s opinions…
    • Multiple customer service goals
    • Small to medium sized call center
    • Three year time frame for analysis
    • Federated search
    • Allows agents to have access to the community
    • Has federated search
    Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
  39. Examples of benefits
    • Cost savings
      • Reduce call volume
      • Reduce email volume
      • Increase agent productivity
      • Increase in FCR
      • Reduce SEO costs
    • Revenue improvements
      • Increase customer lifetime value
      • Increase product ideation
      • Increase lead conversion rates
    Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report Benefits (Impact on business)
  40. There are many benefits of Customer Service Online Communities… Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
  41. The answers are in the community Source: January 21, 2008, “The Economic Necessity Of Customer Service” Forrester report
    • Customers solve each other’s problems
    • Less or no interaction from a company.
      • Customers read posts
      • Fewer call to the contact center
    • And agents use the community-enhanced KM database
      • Reduces their call time
      • Provides more satisfying answers.
    DSL provider
  42. First Contact Resolution (FCR) goes up Source: January 21, 2008, “The Economic Necessity Of Customer Service” Forrester report
    • FCR affects
      • Customer satisfaction
      • Purchase reprobability
      • Good word of mouth…
    My question was answered !!!!!!!!
  43. Customer advocates create more value Source: February 2008 “Redefining High-Value Customers” report.
  44. What happens when there’s “bad word of mouth?”
    • Do the “ostrich” or…
    • Handle it…
        • Alert executives
        • Quickly post a resolution to the community
        • Avoid
          • Brand damage and
          • Increased call volume…
    Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
  45. Invest in turning customer informants Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
    • Even informants can be turned into advocates:
      • Use a built-in system to recognize, rank, and reward users
      • Acknowledge their suggestions
      • Thank them for helping customers
  46. What about the rest of the company? Source: January 21, 2008, “The Economic Necessity Of Customer Service” Forrester report
    • Product Development
      • New ideas coming from communities can save product development millions
    • Product Q&A
      • Get solutions that can’t be found any other way
    • Marketing and Sales
      • Now promoting a product that was designed with customer input.
  47. The benefits of customer service online communities… Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
  48. Examples of customer service online community costs
    • People
      • Training
      • Staff
    • Process
      • Marketing of community
    • Technology
      • Community website design
      • Single Sign-on
      • Integration to contact center
      • Platform subscription fee
      • Analytics
      • Reporting
    Costs (Impact on budget)
  49. Start-up costs of customer service online communities… Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
  50. Recurring costs of customer service online communities… Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
  51. The ROI of online customer service community is… Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
  52. The TEI of online customer service community is… Source: May, 2009 “The ROI of Online Customer Service Communities” Forrester report
  53. Be proactive about chat Source: January 21, 2008, “The Economic Necessity Of Customer Service” Forrester report
    • Companies spend billions annually for their Internet presence
    • The investment is wasted their investment as customers abandon shopping carts mid-order, click away from partially filled forms, or become frustrated when they can’t find answers.
    • Proactive chat has a large return on investment and provide millions of dollars in positive word of mouth
  54. What the primary research shows… Web chat is important! Source: August 2007 “Why Financial Shoppers Abandon Online Product Applications” report.
  55. Be proactive about chat August 2007 “Why Financial Shoppers Abandon Online Product Applications”
  56. Be proactive about chat Source: March 11 2008, “Improving The Design Of Chat Interactions” Forrester report
  57. Be proactive about chat Source: January 21, 2008, “The Economic Necessity Of Customer Service” Forrester report
  58. Design considerations for chat make a big difference… Source: March 11 2008, “Improving The Design Of Chat Interactions” Forrester report
  59. Look at providing ways to create consistency across channels… Source: March 11 2008, “Improving The Design Of Chat Interactions” Forrester report
  60. What the ROI of proactive chat? Source: February 4, 2008, “The ROI of Chat” Forrester report
  61. What you can do -- strategy best practices
      • The sum of a customer’s experience overtime
      • Strategic management of customer touch-points
      • Reflects your customer’s identities, needs, wants…
    Define you customer experience brand….
  62. -- Design experiences to create feelings that emotionally engage customers… What Are U Designing? What you can do -- strategy best practices
  63. Where to begin?
    • Take the self-assessment
    • Evaluate your organization
    • Compare to best practices
    • Get alignment
    Source: January 13, 2009, “Forrester Customer Service Innovation Framework and Self-Assessment ” Forrester report
  64. Evaluate customer service Source: January 13, 2009, “Forrester Customer Service Innovation Framework and Self-Assessment ” Forrester report
  65. Assess your customer capabilities against: c ustomer service agent best practices
  66. Assess your customer capabilities against: c ustomer service knowledge base best practices August 2007 “Forrester’s Best Practices Framework For CRM”
  67. Compare your scores to best practices Source: January 10, 2008 “Customer Service Best Practices Adoption” report Your average score 2.00 2.28 2.7 2.20 2.03 2.18
  68. Customer experiences create your brand
    • Great customer experiences create loyal customers
    • Loyal customers create brand equity
    • Brand equity creates growth, revenue and profits
  69. Thank you Natalie L. Petouhoff +1 310.919.8467 [email_address] @drnatalie www.forrester.com
  70. Follow us on
    • http:// blog.parature.com /
    • http:// facebook.parature.com
    • http:// twitter.com/parature.com
    • http:// www.parature.com/rss
    • http://www.youtube.com/paratureinc
    Questions?

+ ParatureParature, 4 months ago

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