SoundBite presentation-for-neccf-08june2010


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SoundBite presentation from NECCF Expo

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SoundBite presentation-for-neccf-08june2010

  1. 1. Aligning Your Contact Center With Consumer Communication Preferences Alan Berrey VP, Emerging Solutions Win an iPod Text DEMOPAY to 77053 Enter to win an iPod nano Text DEMOPAY to 77053 2 1
  2. 2. Agenda Text DEMOPAY to 77053 • Principles of Communication • Mobile Industry Statistics and Trends • A bit about SoundBite Communications • Align with Consumer Preferences • Contact Center Text Messaging • Summary 3 Principles of Effective Communication 2
  3. 3. Elements of Communication Text DEMOPAY to 77053 There are six essential elements of all communication: 1. Message 2. Sender 3. Receiver 4. Encoding 5. Decoding 6. Channel 5 Wiio’s Laws of Communication Text DEMOPAY to 77053 Communication is difficult: 1. If communication can fail, it will. 2. If a message can be understood in different ways, it will be understood in just that way which does the most harm. 3. There is always somebody who knows better than you what you meant by your message. Professor Osmo A. Wiio Finnish Educator 4. The more communication there is, the more difficult it is for communication to succeed. 6 3
  4. 4. Mobile Industry Statistics and Trends Paradigm Shift: Towards Mobile Communications Text DEMOPAY to 77053 Telephones Text Messages (millions) (billions per month) 300 150 200 100 100 50 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09 Landlines Mobile Numbers Text Messages Source: CTIA and FCC 8 4
  5. 5. Transition from Landline to Mobile Text DEMOPAY to 77053 SoundBite has experienced a strong transition from landlines to mobile phones. 75% 78% 68% 63% 50% 54% 46% 37% 25% 32% 22% 0% 2006 2007 2008 2009 Landlines Mobile Based upon actual contact data from SoundBite Communications. 9 Universities Embrace Text Text DEMOPAY to 77053 • Students at Georgia State are encouraged to text their questions to the professor during class. • Questions scroll on a large screen projector. • Caroline Tagg received her PhD in Text Messaging from University of Birmingham in 2009. • Texters use the informality of speech communications in a written format. 10 5
  6. 6. Children own phones, not books Text DEMOPAY to 77053 • Survey of 17,000 children May 26, 2010 ages seven to 16 • 85.5% own a mobile phone • 72.6% own a book • Even among the youngest, 7-11, 79% had mobiles and 73% had Children 'more likely to own a books mobile phone than a book' Sources: Article: Telegraph, 26 May 2010 Image: Ian Jones 11 Company Overview 6
  7. 7. Introduction to SoundBite Communications Proactive Customer Communications Market Leader • Intelligent platform enables clients to Company Facts design, execute, measure and optimize • Founded: 2000 customer communications • Headquarters: Bedford, MA • Multi-channel: voice, text, email • NASDAQ Ticker: SDBT • Software-as-a-Service (SaaS) • 2009 Revenue: $40.2M • Solutions span clients’ customer lifecycle • 2009 Messages: ~2B Over 200 clients • ~50 Fortune 500 B2C companies Strong financial position • $36M cash • No debt 13 Key Strengths Text DEMOPAY to 77053 Clients and Innovation Expertise Technology Financial Market Position • Proactive • Free-to-end-user • ~2B messages • Flexible, on- • Publicly traded Customer text messaging annually demand platform (NASDAQ: SDBT) Communications (PCC) Market • Preference • 10 Years providing • Extensive patent • $40M+ TTM leader Management PCC portfolio revenue Solution establishes SDBT • 200+clients, • ~200 R&D man • Intelligent, as a market including ~50 • Contact Center years interactive, leader Fortune 500 B2Cs Text Messaging multi-channel Solution • Domain expertise: communications • Strong cash • Valued set of verticals, channels, position business partners • Multi-channel and customer • SAS70 Type II & blending and lifecycle PCI Level 1 • No debt • Emerging global escalation applications compliant position 14 7
  8. 8. SoundBite Users Text DEMOPAY to 77053 Financial Telecom Energy Collection Services & Media Retail & Utilities Agencies 7 of the top 10 7 of the top 10 5 of the top 20 12 of the top 20 ~90 collections global issuing U.S. telecom & U.S. retailers U.S. utility firms banks media providers providers More than 200 clients actively use SoundBite’s Proactive Customer Communications offering 15 SoundBite Partners Text DEMOPAY to 77053 Our business partners help satisfy the growing demand for SoundBite’s Proactive Customer Communications offering 16 8
  9. 9. Aligning with Consumer Preferences Paradigm #1: Communicate Proactively Text DEMOPAY to 77053 Reactive Proactive Communications Communications “Interactive multichannel communications provide several benefits… to build strong customer relationships while also reducing costs.” Source: “Proactive Outbound Notification Saves Money”, Forrester Research, January 2009 18 9
  10. 10. Paradigm #1: Breaking Through the Noise direct mail text messaging email social media voice To get desired results, communications must be proactive and... Relevant Personal Timely Engaging 19 Paradigm #2: Obtain Preferences • Text me payment reminders • I opt-in to receive marketing calls on my mobile phone • I prefer monthly e-Mail statements • e-Mail my loyalty balances to me Knew the stated preferences of all your customers 20 10
  11. 11. Paradigm #2: Stated and Observed Preferences Stated Preferences: Observed • I opt-in to receive marketing calls Behavior: on my mobile phone • Sue is most responsive • e-Mail my loyalty balances to me to promos sent via text Could combine stated preferences with observed behavior 21 Paradigm #3: Escalate and Blend Channels ESCALATION BASED “Click here or call 1-800…” ON PREFERENCE & “Urgent Message regarding you OUTCOME BankBlue card…Please call @ us at 800-… ” “There has been “ALERT: There is suspicious activity “….Press 1 to suspicious activity on your BankBlue speak with an on your BankBlue card ending in agent…” card …Call 800-” 8656…” 1st Outreach 1st Outreach 1st Outreach 4th Outreach 5th Outreach Voice Message to Voice Message to Text Message (SMS) Answering Machine Email Landline Phone Mobile Phone to Mobile Phone Message 22 11
  12. 12. Paradigm #3: Escalate and Blend Channels “Press 1 to hear your “Your account balance is balance due now…” $795.62. To speak with a representative, press 1…” Free msg: Balance “Press 2 to receive a due: $795.62 To pay, Your e-payment of text message…” send reply code “PAY” $795.62 has been or call credited to your 1-800-123-1234 account. Thanks! “Press 3 to receive e-bill Center an e-bill balance- Online Billing Alert Enter Online ID to Account Number: due alert…” ********23 view and pay bill: Amount due: $795.62 View and pay bill 23 SoundBite Proactive Customer Communications Solutions Proactive Marketing Loyalty Promotions Activations Message Opt-in Replenishment Customer Win Back Proactive Collections & Proactive Customer Care Risk Management Welcome Enrollments Early Stage Collections Late Stage Notifications Reminders Collections Fraud Monitoring Surveys Proactive Payments Payment Reminders Self-Service Payments Expedited Payments 24 12
  13. 13. Marketing: Large Retailer Generates Millions in Revenue Text DEMOPAY to 77053 Situation • Specialty retailer seeks to drive store sales through unredeemed merchandise credits and non- purchased reserved merchandise Strategy • Leverage SoundBite’s voice messaging to landline and SMS to mobile phones to remind over 3.5MM consumers of unused credits and reserved merchandise Results Voice &Text • Campaign generated over $11MM in sales messaging campaign generates • $1.9MM in merchandise credit was redeemed $11MM in sales • Low opt-out rate (2.7%) confirmed consumers desire to be communicated with regarding merchandise credit Multi-channel campaign drives high redemption rates 25 Customer Care: Top Wireless Provider Lowers Inbound Calls Text DEMOPAY to 77053 Situation • Average new user calls customer care almost 10 times in the first 60 days, with each call costing $5-$10.00 • Needed to reduce the number of inbound “start-up” period calls Strategy • 2 proactive outbound calls to help reduce inbound traffic • 1st call explains features of the service plan • 2nd call explains how to read their first billing statement and outlines the billing process Inbound calls Results dramatically reduced and customer • Welcome calls lowered the number of inbounds volume experience enhanced • Significant cost savings • Positive initial subscriber experience Enhancing subscriber experience while lowering costs 26 13
  14. 14. Payments: Interactive Text Messaging Increases Collections Text DEMOPAY to 77053 Situation • Wireless provider uses 1-way text alerts for collecting on delinquent accounts • Goal to increase auto-pay and self-cure rates while reducing agent costs Strategy • Leverage SoundBite’s Contact Center Text Messaging Solution for payment and past-due reminders • Interactive Text Messaging enables subscribers to Contact Center Text reply HELP or OPTIONS for more information Messaging more than doubles same-day Results payments • 55% lift in same-day payments • 46% lift in same-day cure rates over BAU Increasing payments while dramatically lowering costs 27 Collections: Top 5 US Bank Generates Collections Revenue Text DEMOPAY to 77053 Situation Increase in Collections • Top 5 US bank wanted to raise collections results by $1,252,875 adding text messaging to automated voice messaging Strategy $ Collected $575,989 • Leverage SoundBite Collections Solution to implement multi-channel communications to drive incremental collections. • 3 groups created: Control, Voice, Voice plus text Voice-Only Voice + Text message Results $1.25MM in • 117% improvement over Voice-only incremental • Among text-enabled recipients, text messaging collections boosted results by 470% over Voice-only Multi-channel strategy dramatically increases revenue 28 14
  15. 15. Contact Center Text Messaging SoundBite Contact Center Text Messaging Solution Business Opportunities • Empower contact center agents to support customers via text messaging Contact Center Text channel Messaging Solution • Adopt a cost-effective channel while Optimization Solution providing a positive customer experience Dialog Engine enables automated SoundBite Value interactive text messaging • Offering text for customer support Agents respond to text messages improves customer satisfaction via Agent Text Portal • Agents can handle multiple customer conversations Enhanced keyword search • Enables customer self-service resulting Standard and FTEU rate text in cost-efficiencies • Further expands the multi-channel Contact Center reporting experience in the Contact Center 30 15
  16. 16. Payments: Fully Automated Bank Payment Text DEMOPAY to 77053 Your Bank National account is almost due.(acct# ending Customer 3333) For payment options reply PAY. Questions reply Dialog Engine HELP or call 888-000-0000.To end alerts reply STOP PAY Bank National: Balance $723.44.Minimum pmt $42.18.You can pay from debit acct#_7372. Pay entire balance or make minimum payment. Reply PAYALL, or PAYMIN PAYMIN Bank National: Please confirm you want to make a payment of $42.18 using debit acct#_7372. To confirm and make payment reply CONFIRM. To cancel reply CANCEL CONFIRM Bank National: Thank you, your payment of $42.18 has been processed. Confirmation #88128. For more text message options reply MENU 31 Customer Care: Agent Support for Telecom Text DEMOPAY to 77053 Free Msg: Welcome to TeleWireless! Did you know Customer customer support can be reached by text message? For Dialog Engine options, or to send a text msg to a live agent, reply MENU MENU TeleWireless: You can get info about your phone, service, billing, and more. Reply PHONE, SERV,or BILL. Or to send text to an agent reply AGENT plus your question AGENT how do I change my payment due date to the 15th of each month TeleWireless has received your message. An agent will reply shortly. For more text options reply MORE Agent Text Portal This is Jen from TeleWireless, I am happy to change your payment due date … 32 16
  17. 17. Marketing: Agent Support for Retailer Text DEMOPAY to 77053 Customer A printed marketing piece says, “Sign up for our Dialog Engine Loyalty program! Text LOYALTY to 77053” LOYALTY Welcome to Loyalty Rewards Plus. To check your balance at any time reply BALANCE. To sign up for new product alerts reply ALERT ALERT New product is available next Friday. 20% off for early orders. For more info reply MORE, To order now reply ORDER. To opt out reply STOP Agent Text ORDER Portal Thanks for ordering New Product. To complete your order we need …” 33 Collections & Risk: Agent Support for Collection Agency Text DEMOPAY to 77053 A letter is sent to a delinquent debtor requesting Customer that she call an agency to resolve an outstanding Dialog Engine obligation.“Please call 888-000-0000 or send Text MYCODE to 77053 MYCODE Agency: Thank you for texting us. It is important that we communicate with John Brown. Are you John Brown? Please reply YES or NO YES Agent Text Portal Thank you for contacting us. Our records show …” 34 17
  18. 18. Summary and Recommendations Summary Text DEMOPAY to 77053 • Communications are difficult and becoming more difficult with time. • Industry trends and consumer behaviors point toward mobile technology as the primary communication source. • Aligning a contact center with consumer preferences: – Communicate proactively – Obtain stated and observed preferences – Escalate and blend communications channels • Begin a text messaging strategy today. 36 18
  19. 19. Thank you! Questions? Alan Berrey VP, Emerging Solutions M) +1 (248) 882-8020 19