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How to Know Your Customer: A Look into the Future of Customer Experience

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The following presentation is intended to serve as a collection of key themes and trends that show businesses how to know the customer experiences most sought after, both today and in the very near future. It includes supporting research from more than 13 reports and surveys with 23-thousand respondents ranging from consumers to business leaders.

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How to Know Your Customer: A Look into the Future of Customer Experience

  1. 1. HOW TO KNOW YOUR CUSTOMER A Look into the Future of Customer Experience
  2. 2. The following presentation is intended to serve as a collection of key themes and trends that most inform the experience customers are seeking from companies, both today and in the very near future. It includes supporting research from more than 13 reports and surveys with 23,000 respondents ranging from consumers to business leaders.
  3. 3. CUSTOMER EXPERIENCE Mobile. Artificial intelligence. Voice. There’s a myriad of innovative technologies that brands are now using to know their customers and deliver enhanced engagement. And the standards around these technologies are only getting higher.
  4. 4. Some of customers say the experience a company provides is as important as its products or services, up 4% from 2018. 84% Source: Third Edition State of the Connected Customer, Salesforce Research, June 2019
  5. 5. of business buyers say just one extraordinary experience raises their expectations of other companies. Source: Third Edition State of the Connected Customer, Salesforce Research, June 2019 82%
  6. 6. “Every CEO I talk to or hear speaking today is recognizing that the customer experience is critical to the longevity of their business.” STEPHANIE BUSCEMI CMO, SALESFORCE Source: How Salesforce Increases Its 360° Customer View With Google, July 2019
  7. 7. Source: Forbes “Customer experience better be at the top of your list when it comes to priorities in your organization. Customer experience is the new marketing.” STEVE CANNON PRESIDENT AND CEO, MERCEDES BENZ USA
  8. 8. Source: Third Edition State of the Connected Customer, Salesforce Research, June 2019 of business buyers expect companies to use new technologies to create better experiences and the way brands use technology indicates how they operate as a whole. 83%
  9. 9. Most companies are failing to focus on engaging customer experiences. Only of customers say companies generally understand their needs and expectations. 51% Source: Third Edition State of the Connected Customer, Salesforce Research, June 2019
  10. 10. A new study of 60 B2B web sites across 12 different industries found that just 4 of them actually offered visitors empathetic, educational, and useful content, tools, and videos. Source: B2B Websites Still Fail Our Customer Engagement Test, Forrester, June 2019
  11. 11. Top Marketing PRIORITIES Engaging with customers in real time Optimizing the marketing mix for best return Modernizing tools and technologies Creating a shared, single view of customers across business units Unifying customer data sources Top Marketing CHALLENGES Engaging with customers in real time Adopting and effectively using new marketing technologies Budgetary constraints Creating a shared, single view of customers across business units Creating a cohesive customer journey across disparate channels and devices For modern marketers specifically, the PRIORITIES and CHALLENGES for delivering on customer expectations are two sides of the same coin: 4. 5. 3. 1. 2. Source: 5th Edition State of Marketing, Salesforce Research
  12. 12. One’s Own Products + Happy Customers + Recommendations Effective + Efficient Marketing = WHAT’S A WINNING FORMULA FOR DELIVERING ON TODAY’S CUSTOMER EXPECTATIONS? Source: Internet Trends Report 2019, Mary Meeker
  13. 13. Source: Seagate, Accenture Two-thirds of global CEOs will start focusing on digital strategies to improve customer experience by the end of 2019, while 31% of companies have already invested in AI in an effort to get ahead of the competition.
  14. 14. Source: McKinsey By 2030, of companies will have adopted some form of AI and the majority of enterprises will be using a full range of AI technology. 70%
  15. 15. Source: “The AI Revolution,” Salesforce Research, May 2017 BUSINESS LEADERS ACROSS SALES, SERVICE, AND MARKETING ARE MOST PRIORITIZING AI FOR: 1. Engaging with customers in real time 2. Optimizing the marketing mix for best return 3. Modernizing tools and technologies 4. Creating a shared, single view of customers across business units 5. Unifying customer data sources
  16. 16. Read how Salesforce and Google are helping businesses better know their customers and deliver the experience they want at salesforce.com/google.
  17. 17. PERSONALIZATION Trends and research show that a big key to delivering on experiences that meet consumer expectations is figuring out how to know your customers so well that every interaction they have with your brand is personalized.
  18. 18. “Get closer than ever to your customers. So close that you tell them what they need well before the realize it themselves.” STEVE JOBS APPLE CO-FOUNDER
  19. 19. Source: Internet Trends Report 2019, Mary Meeker 91% of retail customers prefer brands that provide personalized offers and recommendations. 74% will actively share data in exchange for personalized experiences.
  20. 20. Source: Millennials: Where they shop, How they shop, Why it matters of millennials are frustrated with brands sending them irrelevant marketing emails. They prefer personalized emails over batch and blast communications. 70%
  21. 21. Source: 5th Edition State of Marketing, Salesforce Research High-performing organizations stand apart by embracing strategies that consider the entire customers’ journey, and therefore enable truly personalized engagement.
  22. 22. Source: 2018 Trends in Personalization The Top 5 benefits of personalization include: 1. Increased visitor engagement 2. Improved customer experience 3. Improved brand perception 4. Increased conversion rates 5. Increased lead generation and customer acquisition
  23. 23. Source: Reshaping Global Engagement Options, The Chief Marketing Officer (CMO) Council, June 2019 Yet, most CMOs are suffering from a case of FOMO – the fear of missed [personalization] opportunities.
  24. 24. Source: Reshaping Global Engagement Options, The Chief Marketing Officer (CMO) Council, June 2019 Three-quarters of 350 global marketing leaders surveyed feel even partially prepared to deliver the localized and personalized experiences sought by customers. Some two-thirds gave themselves below-satisfactory scores for adapting global marketing content to individual markets and channels.
  25. 25. Source: Forrester of digital businesses including companies like, Coca-Cola, Fabletics, Netflix, Sephora, USAA, and Wells Fargo are investing in personalization. 89%
  26. 26. Source: “Marketers Are on a Mission: The State of B2C Marketing,” of digital marketers in retail are investing in personalization tools—that’s more than any other industry. 79%
  27. 27. Source: State of Email Survey, Litmus, April 2019 More insights mean better results. Over half of brands have embraced third-party email analytics—from measuring open rates to determining the device used to open a message—to improve their customer journeys. Brands that use additional analytics tools alongside their email service provider (ESP), see an ROI of 43:1.
  28. 28. Source: How to Create a Customer-Centric Experience, January 2019 “Personal doesn’t just mean upleveling a generic experience with a person’s name. Instead, it’s about dynamically creating a personal experience at each and every moment — from the first search that helps customers ideate their needs to their final purchase, and every moment of the journey in between.” MATHEW SWEEZY PRINCIPAL OF MARKETING INSIGHTS, SALESFORCE
  29. 29. Contact us to learn more about the industry-leading productivity, marketing, and cloud platform tools that help you create a more personalized experience.
  30. 30. BRINGING DATA TOGETHER It’s hard to truly comprehend the amount of data that now exists, not to mention what is being generated each and every second. At a business level, it can be overwhelming to understand the data around your customers and across an organization.
  31. 31. “Data is not useful until it becomes information.” SETH GODIN AUTHOR AND ENTREPRENEUR
  32. 32. “It is a capital mistake to theorize before one has data.” SHERLOCK HOLMES Source: “A Study in Scarlet”, Arthur Conan Doyle
  33. 33. Source: World Economic Forum, April 2019 500M tweets are tweeted 5B searches are made 65B messages created on WhatsApp 294B emails are sent …per day
  34. 34. Source: World Economic Forum, April 2019 By 2025, it’s estimated that 463 exabytes of data will be created each day globally. 1 exabyte = 1,000,000,000,000,000,000 bytes
  35. 35. Source: 5th Edition State of Marketing, Salesforce Research Data sources for the average business user are only increasing. Marketers alone report that as they work to know their customers, they are dealing with a median number of 15 different data sources, up from 10 in 2017. If the growth rate continues, that number will hit 45 by 2025.
  36. 36. Source: SiteCore MANY MARKETERS STRUGGLE WITH THE AMOUNT OF REAL-TIME INSIGHTS THEY CAN ACCESS. Only a minority can react to online customer interactions immediately. 43% in the pre-purchase stage 38% during purchase 35% post-purchase 31% lack the in-house skills to analyze the data 12% have data at an individual customer level
  37. 37. Almost three-quarters of business leaders believe a relevant and reliable customer experience is critical to performance. But a complete view of customer data continues to be a challenge. Only 13% of companies have a single source of customer intelligence, and 30% are working toward it. Source: Closing the Customer Experience Gap: How IT and Business Can Partner to Transform Customer Experiences, Harvard Business Review Analytic Services
  38. 38. Source: Data Versus Goliath: Customer Data Strategies to Disrupt the Disruptors, Forbes Insights 55% of executives believe that disruptive innovation and creating new markets depends on deep knowledge and insights into customer data and analytics.
  39. 39. Source: 3rd Edition State of Sales, Salesforce Research 1. Increasing customer satisfaction 2. Acquiring new customers 3. Reducing customer attrition 4. Increasing customer loyalty A strong majority of salespeople cite a single, shared view of customer data across marketing, sales, and service interactions as important for a variety of objectives that impact the bottom line, including:
  40. 40. One-third of industry professionals highlight that the right technologies for data collection and analysis are essential for better understanding of customers. Currently, 44% of marketers say they have data management platforms, and 33% are planning to have one. Source: Digital Doughnut
  41. 41. Source: Why Unifying Your Customer Data Is the Only Way to Truly Know Your Customer “You can’t know your customer—and ultimately find success unless data is unified. It’s an iterative process so start small. Connect analytics with CRM, look at how customers engage with you, and evaluate external data.”
  42. 42. “Without big data analytics, companies are blind and deaf, wandering out onto the web like deer on a freeway.” GEOFFREY MOORE AUTHOR AND CONSULTANT
  43. 43. Contact us to learn more about the industry-leading productivity, marketing, and cloud platform tools that help you better know your customers.
  44. 44. FUTURE OF WORK It’s not only data that needs to be removed from silos for companies to increase productivity and better deliver on the customer experience. Departments across an organization – marketing, sales, customer service, and beyond – must be enabled to cross-collaborate and work more tightly together than ever before. Not to mention being given time to focus on value-added work.
  45. 45. Source: “Quotes from Henry Ford on Business Leadership and Life” “Coming together is a beginning; keeping together is progress; working together is success.” HENRY FORD
  46. 46. Source: How to Create a Customer-Centric Experience, January 2019 “When people say ‘customer experience should be owned by marketing,’ they don’t acknowledge that when a customer reaches out to talk to a brand, it’s usually to sales. And then if there’s a problem, they reach out to service — not marketing. It matters less who owns customer experience and more who implements it, and everyone in an organization—from the executive level down—should be implementing it.” TIFFANI BOVA GLOBAL CUSTOMER GROWTH AND INNOVATION EVANGELIST, SALESFORCE
  47. 47. Source: Third Edition State of the Connected Customer, Salesforce Research, June 2019 While of customers expect consistent interactions across departments, say it generally feels like they’re communicating with separate departments, not one company. 78% 59%
  48. 48. Top marketing teams report that they now share common goals and metrics with their partners in customer service and sales and have a free and open flow of data between those teams. Source: 5th Edition State of Marketing, Salesforce Research
  49. 49. of business buyers say in order to win their business it’s very important for salespeople to be aware of marketing campaigns and offers. True collaborative selling, however, extends beyond merely knowing the offers to understanding precisely which ones resonate with customers. Source: State of Sales 74%
  50. 50. of service professionals say customer service is now viewed as the responsibility of the entire company—not just their department. Partnering with other departments is critical to providing great customer experiences. 90% Source: 3rd Edition State of Service, Salesforce Research
  51. 51. Source: 2016 Employee Engagement Benchmark Study Companies which excel at customer experience have 1.5 times as many engaged employees as do customer experience laggards.
  52. 52. Source: Why the Millions We Spend on Employee Engagement Buy Us So Little Companies that invest in the employee experience are 4X more profitable. They also tend to be 25 percent smaller, which suggests higher levels of productivity and innovation.
  53. 53. Salespeople spend up to two-thirds of their time on things like managing emails and logging activities and too little time on high value activities such as discovering customer’s/prospect’s needs. Source: 3rd Edition State of Service, Salesforce Research
  54. 54. Source: The Future of Sales, August 2018 When it comes to sales, AI’s role is to ease the burden of manual and tedious tasks. This gives reps more time to focus on giving customers what they want: consultative, trusted advisors – a uniquely human skill set.
  55. 55. “What do you do with those 50 seconds AI helps you get back on each customer service call? The easy answer is that it’s ROI and that’s what’s going to fund your project. There’s also an interesting potential counterpoint to that. Maybe you split the time with the agent. Give 25 seconds back to the business. Maybe give 25 seconds back to the agent. Just give them a second to breath, or to stand up, or to just improve the quality of their work experience.” MATTHEW KRAVITZ DIRECTOR OF SERVICE APPLICATIONS, VIEWER EXPERIENCE, AT HULU Source: How AI is Transforming the Enterprise (Cloud Next '19)
  56. 56. “Instead of chasing that race to the bottom on labor costs, invest in turning your talent into a team of explorers who can solve amazing problems using AI as the tool that takes the busy work out. That is the company that wins in the end.” VIVIENNE MING EXECUTIVE CHAIR & CO-FOUNDER, SOCOS LABS
  57. 57. A relationship for your customer relationships. Industry leading marketing, productivity, and cloud platform tools that help you better know your customers. Learn more at salesforce.com/google.

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