Speaker: Peter Finter, CMO, Couchbase
What is an engagement database, and what does it deliver? Hear Couchbase CMO Peter Finter explain the attributes of an engagement database and how Couchbase customers are already transforming their businesses with improved customer experiences, lower costs, and faster innovation.
(“as Matt alluded”) Technology is transforming every industry, from retail to banking to healthcare to transportation.
At the heart of this transformation is the ability to engage with employees, customers, and partners through exceptional digital experiences.
changes that are coming about, what needs to be done to address these new challenges share some stories from customers who are already revolutionizing digital innovation in their own industries.
Enterprise agree: 450 CIOs/CTOs/CDOs in the US, UK, France and Germany Customer experience is the primary focus of their DX initiatives. That’s why we are 100% focused on the engagement economy and why we’re proud to have announced the industry’s first engagement database to enable exceptional customer experiences.
Why Customer Engagement and not just Customer Experience?
Engagement is the result of continuous or successive positive experiences that a customer has with a brand The intention is an emotional connection that influences purchase or usage decisions – and ongoing brand loyalty.
But why is this so important?
Simply because the benefits for your business are so immense:
Companies with a strong customer experience retain 89% of customers… … this is compared to only 33% retained by low CX companies.
In the digital era, customer retention is becoming the key battleground for business success.
Peter’s Volvo anecdote “my personal experience when the tech and the customer experience falls short of what good looks like”
Need to extend the lease on our existing Volvo until its replacement arrives. Dealer: “No, we can’t contact Volvo Finance on your behalf.” Call Volvo Finance: 20 minutes waiting on the phone. “You’ll have to fill in a form to do that. We’ll mail it to you.” “I’m calling to let you know that we’ve sent you an email.” “Please complete and sign the form, then fax it to us”. I called Volvo to ask if I could scan & email the form. “No, not an option.” Took form to UPS, who charged me $1.50 per page. 2 weeks later, received confirmation in the mail.
Clearly, delivering exceptional customer experience is not easy!
It’s not easy for two reasons.
Firstly, the human perspective. The challenge of engaging customers today
Average attention span of a human is now less 8.25 secs - down from 12 secs in 2000. The goldfish is 9 seconds.
The second big challenge is a technical one.
Applications are not enough on their own.
To create these exceptional digital experiences, organizations need to use data in an agile, responsive, and scalable manner.
So where does an engagement database fit?
Looking at what happens in the digital world… Customers spend more time interacting than transacting…
Clicking on a link, liking a tweet, starting a game, entering a search term, completing a form, hovering on a web button, starting a video, changing its volume, having a conversation with a chatbot, shooting a virtual alien, adding an item to an online shopping cart: these are all interactions.
Making an online payment is a transaction.
Now the majority of activity is seen before getting to that transaction.
There are now vast numbers of interactions and associated experiences that shape a customer’s view of an organization. And they occur across multiple touchpoints.
We look a lot more before we book. We browse a lot more before we buy.
When customers spend more time interacting than transacting, every interaction end experience they have with your brand counts.
It's the many interactions that will eventually drive the single transaction.
The same principle holds true across multiple vertical industries:
For travel and hospitality, interactions may include searching for a flight or hotel room, comparing deals and personalizing your experience. The transaction is completing your purchase and paying.
For eCommerce, interactions include browsing the product catalog, personalizing your recommendations, giving you rewards. The transaction is completing your purchase and paying.
For digital media, interactions may include permission and access control, browsing content, personalizing content. The transaction is streaming the video.
For financial services, interactions may include searching your transactions, protecting against fraud, delivering credit reports or cross-selling mortgage, insurance, etc. The transaction is moving money from a to b.
Why today’s digital transformation projects fail: (1) The traditional approach
Legacy databases have proven to be inflexible, costly and unable to deliver the richer experiences that today’s consumers demand
Why today’s digital transformation projects fail: (2) Point solutions everywhere
Many have attempted to add new functionality through point solutions – at the expense of manageability, agility, and, ultimately, your customers’ experience. What now?
Welcome to the Engagement Database!
An integrated data platform that delivers exceptional customer experiences, while simultaneously accelerating innovation and reducing complexity.
An engagement database is the answer - it changes everything
Hello cloud, hello world: seamless data distribution, flexible data locality, and built-in recovery Seamlessly mobile: local, mobile-embedded database that can automatically synchronize any changes with the cloud database to all associated edge devices. Offline first apps. Built-in smarts: by supporting full-text search and real-time analytics, integrating with big data platforms and technologies to perform offline and real-time analysis of operational data. Built for change – at scale: flexible schema and simple, elastic scalability to respond to rapidly changing business requirements. Always on, always fast: with its built-in fault tolerance, the Engagement Database delivers consistent high performance to get data where you need it, when you need it. Secure, secure, secure: with the Engagement Database, you get secure data everywhere – over the wire, on the device, in the cloud, and in the data center.
industry transformation across verticals let me give you some specific examples...
Groundbreaking mobile VR game based on globally successful Nintendo property 5 million active daily users Couchbase easily scales to support Pokémon's user profile repository of hundreds of millions of global accounts with real-time data access and updates Deployed in less than 3 months in time for launch
Key points: Groundbreaking mobile VR game based on globally successful Nintendo property 5 million active daily users Couchbase easily scales to support Pokémon's user profile repository of hundreds of millions of global accounts with real-time data access and updates Deployed in less than 3 months in time for launch
Challenges: Days after launch, user base surpassed Twitter: SQL Server couldn’t keep up Player experience depends on low latency updates and queries for activity and related events Rapid, online database and query scalability, with increasing number of users and application complexity Game and user profiles evolve rapidly
Benefits: Pokémon Trainer Club profile system was developed using N1QL in less than three months Performance at scale ensures optimal player experience with memory-optimized indexes Multi-Dimensional Scaling allows query and index services to be scaled independently, minimizing the cost to keep up with growth
World's third-largest airline as measured by revenue 4,500 daily departures Couchbase supports United’s crew management platform, streamlining and modernizing crew scheduling and resources Over $50B spent on employees annually, 20-30% of flights require unscheduled resources 17 use cases deployed and in development – true platform for digital transformation
World’s largest professional services social network: 450+ million members worldwide Billions of page hits per day As user base skyrocketed, quickly outgrew the limited flexibility and scalability of Oracle and turned to NoSQL to run its source of truth (SoT) data store Achieved tremendous performance at scale, averaging <4ms latency for over 2.5 billion items All in-memory storage in the LinkedIn datacenter is done by Couchbase, powering 10+ million queries per second across all servers and clusters Ease of use and built-in replication and cluster expansion have reduced ops costs
38 billion dollars in reservations annually at 4,200 properties in 79 countries Needed to move central reservation system off mainframe / away from Oracle to deploy new applications faster and more reliably Couchbase as a cache on top of the mainframe and distributing the inventory load to multiple data centers via the cloud 30 million documents, accessed at 4,000 transactions per second
Needed to shorten the window between retailer previews of new collections and actually delivering those new products to stores Reduce costs while maintaining drive towards sustainability and corporate responsibility Scale quickly & easily to support new collections, multiple showrooms, new projects. 25 digital showrooms worldwide by 2018.
So how do you start your own revolution? Here’s what revolution means to us…“a dramatic and far-reaching change in ways of thinking and behaving that sparks a powerful chain reaction”
That’s the key to how revolutions start: It’s a chain reaction... from a single person with an idea ...a vision of what might be ...leadership to drive through change …persistence and courage ...and action
Our mission is to help you turn your idea into a revolution… To transform your organization, your industry, your customers… We’re here to help you turn customer experience into customer euphoria… …with the Couchbase Data Platform
Intro Ravi (CRO): more on revolutions and challenging the status quo
Revolutionizing Customer Engagement – Connect Silicon Valley 2017
Peter Finter, CMO
95% of CxOs say
should be giving
customers and end
users a truly unique
Couchbase CIO Survey, 2017