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Hello everyone - today, I want to talk about one simple question, which if companies start asking more, will provide answers to save more than $100 billion annually. That one question every executive and anyone in marketing, sales or customer service should ask themselves is "How can I help customers" instead of asking "How can I sell things?”.
Since it is simple and obvious, you think everyone would be doing it …
A couple of facts:
1. Companies globally spend close to $500 billion, or half a trillion dollars annually on advertising.
2. The Authors of “What Sticks” said that $112 billion is wasted in advertising in U.S. alone.
3. As Dr. Hendrix’ survey shows, only 1 in 5 are happy with the customer experience.
Companies continue to pour billions into advertising that interrupts, and other marketing methods that customers try to avoid, instead of focusing on creating better customer engagement and experience.
There has also been lot of talk recently about customer engagement and how it can be improved through social media presence or mobile apps. New engagement metrics have been introduced; the number of likes on Facebook or the volume of Followers on Twitter is quickly replacing the number of eyeballs to the website. While these social networks are great at connecting people, these methods are still based on brand selling, mostly advertisement driven and have proven to be even less effective based on click through rates.
So let us ask the key question "How we can help Mobile and Social customers", the answer to that question is what we are calling Smarter Customer Engagement.
How is it different?
Smarter Customer Engagement is customer-centric, helping them along their journey to make better decisions.
Smarter Customer Engagement provides utility & service so customers can get their jobs done faster.
Smarter Customer Engagement delivers answers and right information when the customers need it.
Smarter Customer Engagement builds loyalty and facilitates advice from trusted friends.
To enable better engagement, Geoffrey Moore introduced the concept of Systems of Engagement. These systems of engagement are not just another front end on existing systems of record like ERP or CRM. But rather need to be designed and constructed with clear focus on providing simple and yet more unified customer experience that is based on customer context.
Systems of engagement enable brands to use web, mobile and social channels to add value throughout the customer lifecycle. Smarter Customer Engagement platform would provide right capabilities directly to end customers and the people who interface with these customers.
Let us walk through a quick scenario on how customers can get easier access to products, knowledge and services from brands and friends during pre-sales or post sales on these smart devices that they always carry with them.
90+ percent of customers trust their friends for product information more than Brands ...