ROI calculations for support communities
•Download as PPTX, PDF•
1 like•368 views
Return on Investment calculations are hard, but what if you can take a simpler approach? Let's tackle this beast together with a simplified look at your data points and industry benchmarks to get you started on your journey of value discovery with your support community.
Recommended
Recommended
More Related Content
Similar to ROI calculations for support communities
Similar to ROI calculations for support communities (20)
More from Nikoletta Vecsei Harrold
More from Nikoletta Vecsei Harrold (8)
Recently uploaded
Recently uploaded (20)
ROI calculations for support communities
- 1. DEMYSTIFIED ROI CALCULATIONS Not For Distribution. For Training Purposes only. Copyright © 2017 NIKOLETTA VECSEI HARROLD TRANSAMERICA 1 @NIKSCHEN
- 2. 2 •Introduction •ROI calculations •Phase I & What's missing? •Phase II & Gaps, Issues •What’s next? •Questions AGENDA ITEMS Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 3. WHO AM I? Not For Distribution. For Training Purposes only. Copyright © 2017 3 @NIKSCHEN
- 4. CONTENTPOTLUCK.COM Not For Distribution. For Training Purposes only. Copyright © 2017 4 @NIKSCHEN
- 5. WHO ARE YOU? Let’s learn something about YOU 5Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 6. DO YOU WORK IN CUSTOMER SUPPORT? 6Not For Distribution. For Training Purposes only. Copyright © 2017 Marketing Sales Management @NIKSCHEN
- 7. DO YOU HAVE A SUPPORT COMMUNITY? Do you contribute? 7Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 8. WHAT ABOUT SOCIAL CARE? 8Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 9. # CUSTOMER SUPPORT CHANNELS • Mail • Email/ Contact Us Form • Call Center • Live Chat • Community • Social Media 9Not For Distribution. For Training Purposes only. Copyright © 2017 1 2 3 4 5 6 @NIKSCHEN
- 10. 10Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 11. 11 YAY! WE HAVE GOT THE FOUNDATION FIGURED OUT Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 12. ROI CALCULATIONS 101 What to measure? 12Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 13. 13Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 14. ROI CALCULATIONS 101 14Not For Distribution. For Training Purposes only. Copyright © 2017 ROI = Return attributable to the investment into the support community Return = increased revenue + reduced cost Investment = platform $, resource $ (time and people) @NIKSCHEN
- 15. 15 @NIKSCHEN
- 16. WORKSHEET – PART 1 Not For Distribution. For Training Purposes only. Copyright © 2017 16 @NIKSCHEN
- 17. ROI CALCULATIONS – PART 1 = ROI 17Not For Distribution. For Training Purposes only. Copyright © 2017 [(# of new discussions x $ for traditional support channel) – (# of new discussions x $Community support)] $ of investment @NIKSCHEN
- 18. WHAT’S MISSING? A LOT! 18Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 19. WHAT’S MISSING? • Industry or company specific $$ data • Peer to peer answers and ripple effect of public content • Successful searches on the community 19Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 20. 20 RESEARCH DATA Channel Gartner (2005) Forrester (2010) You? Mail NA NA NA Call Center $4.50 $6- $12.00 ~ $10.00 Email $2.50 $2.50- $5.00 Live Chat NA $5.00 NA Call Bot/ IVR $1.85 NA NA Social Media (Web) $0.65 NA Community (Web) $0.65 $0.10 NA Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 21. WORKSHEET – PART 2 Not For Distribution. For Training Purposes only. Copyright © 2017 21 @NIKSCHEN
- 22. ROI CALCULATIONS – PART 2 = ROI 22Not For Distribution. For Training Purposes only. Copyright © 2017 [(# of new discussions + # of successful searches) x $ for traditional support channel]- [(# of new discussions + # of successful searches) x $ for web support channel] $ of investment @NIKSCHEN
- 23. 23 GAPS AND ISSUES Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 24. GAPS AND ISSUES • How do you account case deflection with great documentation in a public space like a community or Knowledge Center? • How do you account for shortened onboarding and implementation times due to open training resources and MOOCs? • How do you account for shortened sales cycle due to transparent support channels and pre-sales education* • How do you account for higher retention/ renewal rate and up-sale opportunities** 24Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 25. ANECDOTAL EVIDENCE Not For Distribution. For Training Purposes only. Copyright © 2017 25 @NIKSCHEN
- 26. STORIES AND SCREENSHOTS In person stories: “You guys recently gave me money. It’s great. I paid my premiums and I got what I paid for. It’s how it should be!” 26Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 27. PROCESS IMPROVEMENT FEEDBACK • X% of customer service issues are website and login related or hold time related • Y% of customer service issues are sales rep or other employee related complaints (harassment, bullying, rudeness) • Top support languages and their volume to English – for staffing consideration • Most used resources to case resolution (by author or topic – for info dev. team) • Sentiment impact and increase of brand reputation* 27Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 28. 28 WHAT ARE NEXT STEPS? Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 29. 29 FIND THAT GUY! Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 30. ROI CALCULATIONS 201 • Measure the actual cases deflected • Measure tickets resolved on “cheaper” channels • Measure drop in churn/ increase in renewal rate • Measure upsell to community members • Measure lifetime value of community members 30Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 31. 31 ~6 Million Calls in 2015 (30% YoY increase) ~ $45 Million @NIKSCHEN
- 32. 32 QUESTIONS? Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
- 33. 33 Add proper audience disclosure here. THANK YOU! Not For Distribution. For Training Purposes only. Copyright © 2017 @NIKSCHEN
Editor's Notes
- This session will attempt to showcase a couple of simple ways to calculate ROI for Social Customer Care initiatives and Support communities. There are so many calculators out there that are overly complicated, or you might not have access to the right data to run them. The techniques you learn in this session will help convince your stakeholders and executive sponsors alike.
- I write a lot about my adventures as a community manager or now strategist, and even though I am right now not involved in a support community, I always find ways to contribute and enhance customer service experiences. But here is the big thing. No matter how much difference you provide to the customer. Your work will be cut if you can’t provide a high level view and factual data to the leading command chain about the importance or impact of your work. And that is where ROI calculations become so important. You may be actually doing the ONE thing that keeps your customers sane, but if it can’t be “monetized” or measured…. You will not have the support to do it or you will even face consequences such as job loss or loss of executive support. Let’s not go there, when we actually have a real chance to express your effort’s value today.
- https://www.dimensiondata.com/Global/Downloadable%20Documents/2015%20Global%20Contact%20Centre%20Benchmarking%20Summary%20Report.pdf
- http://cmxhub.com/article/roi-of-community/ https://community.lithium.com/t5/Past-Lithys/Lithys-2016-MEO-Support-Savings-MVP/idi-p/220104
- *57% of the buyer’s journey is completed before the buyer talks to sales. [Source: https://www.cebglobal.com/marketing-communications/digital-evolution.html] ** Community members spend 2x more and have a 33% higher adoption rate than non-community members. (SFDC- Erika Kuhn 2014) http://cmxhub.com/article/erica-kuhl-salesforce-community-roi/ **99% of all cancellations still come from customers who are not on the community - https://medium.com/prodpad/is-our-slack-customer-community-actually-pulling-our-churn-rate-down-7fe559eb3c5a (ProdPad) ** Consors Bank (digital bank in Germany) have proven an uplift in sales of 30% for users going through the community during their journey, and have implemented over 150 customer ideas http://www.lithium.com/.../case.../consorsbank-community
- Screenshots taken on Facebook – July 8th 2017, 4:29pm MT
- * 68% of consumers feel more positive about a brand after consuming content from it. [Source: iMedia Connection
- So you have done the math, it’s compelling evidence. You might have even run some numbers that show how you could more efficiently grow or provide sustainable support as the company matures. So now what?
- Find a key stakeholder or executive sponsor to whom support levels and costs matter. If you are not exploring all the support avenues currently available, then show them the math and explain what the gains, benefits and results could look like if you would start a support community, or provide support on social media channels, where your customers might already be around. If you want to lobby for dedicated time, or team, then make a case for projections for call deflection, time to resolution or cost implications for strengthening your digital team vs your traditional customer support services.
- https://community.lithium.com/t5/Past-Lithys/Lithys-2016-Fido-Rogers-Communications-Support-Savings-MVP/idi-p/220223 https://community.lithium.com/t5/Past-Lithys/Lithys-2016-AT-amp-T-Support-Savings-MVP/idi-p/218313 https://community.lithium.com/t5/Past-Lithys/Lithys-2016-Optus-Support-Savings-MVP/idi-p/220065