Voice Of The Customer 2009


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My keynote to a joint session of the CRM Evolution 2009 and SpeechTek 2009 conferences in NY August 2009

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  • Excellent slides Paul, many thanks for sharing ! Gives a much better picture than the tweets I followed while you were presenting.
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Voice Of The Customer 2009

  1. 1. Voice of the (Social)Customer: Listen and Then Act
  2. 2. Voice of the (Social) Customer
  3. 3. Voice of the (Social) Customer “ The revolution has not been a business revolution, it has been a social revolution – one in how we communicate.” – Me, 2009
  4. 4. VOICE OF THE (SOCIAL) CUSTOMER <ul><li>Who is the Social Customer? </li></ul>
  5. 5. <ul><li>The Social Customer – The Rise </li></ul><ul><ul><li>New definition of trusted source </li></ul></ul><ul><ul><ul><li>2008 Edelman Trust Barometer (60%), most trusted – “a person like me.” </li></ul></ul></ul><ul><ul><ul><li>Not an industry expert or academician or financial advisor </li></ul></ul></ul><ul><ul><li>Information available nearly instantaneously – either structured or unstructured via the web (Google, Yahoo, MSN) </li></ul></ul><ul><ul><li>On Demand software as a service </li></ul></ul><ul><ul><li>Enterprise value chain supersedes siloed supply, demand & support chains </li></ul></ul><ul><ul><li>Link between lifestyle and business – consumers adopt “sexy” content </li></ul></ul><ul><ul><li>The experience is the thing </li></ul></ul>Voice of the (Social) Customer
  6. 6. <ul><li>Edelman Trust Barometer </li></ul><ul><ul><li>2003 – “A Person Like Me” – 22% </li></ul></ul><ul><ul><li>2004 – “A Person Like Me” – 51% </li></ul></ul><ul><ul><li>2005 – “A Person Like Me” – 56% </li></ul></ul><ul><ul><li>2008 – “A Person Like Me” – 60% </li></ul></ul><ul><ul><li>Most trusted source moved from non-connected (to corporation) experts to “a person like me.” </li></ul></ul><ul><ul><li>Customers demand authenticity & transparency now </li></ul></ul>Voice of the (Social) Customer
  7. 7. Voice of the (Social) Customer <ul><li>Social customers communicate : </li></ul><ul><ul><li>24X7 </li></ul></ul><ul><ul><li>Via multiple channels </li></ul></ul><ul><ul><li>With accelerated & enhanced expectations </li></ul></ul><ul><ul><li>With the idea that all institutions will respond the way we want them to </li></ul></ul><ul><ul><li>With trusted sources i.e. peers </li></ul></ul>
  8. 8. <ul><li>Sea change in use of technology </li></ul><ul><ul><li>Gen Y first generation to spend more time on the ‘Net than watching TV </li></ul></ul><ul><ul><li>Implications for marketing staggering </li></ul></ul><ul><ul><ul><li>74% of all U.S. adults spend time online (source: Pew Internet & American Life Project) </li></ul></ul></ul>Voice of the (Social) Customer
  9. 9. <ul><li>The Social Customer – The Establishment </li></ul><ul><ul><li>Social networks as active participants in effecting change (blogosphere, podcasting) </li></ul></ul><ul><ul><li>Collaboration between company & customers to provide useful value for each begins </li></ul></ul><ul><ul><li>Personal value chain subsumes enterprise value chain </li></ul></ul><ul><ul><li>Ubiquitous technologies leading platform </li></ul></ul><ul><ul><li>The Live Web (Web 2.0) (Twitter, Facebook) </li></ul></ul><ul><ul><li>Customer begin to include business as feature of life choice, not a separate factor – user generated content becomes part of business (Samsung open IP to engineers) </li></ul></ul><ul><ul><li>The social customer is increasingly a mobile customer </li></ul></ul><ul><ul><li>Consumerization of the enterprise (Blackberry Pearl) </li></ul></ul>Voice of the (Social) Customer
  10. 10. <ul><li>Using Social Networks </li></ul><ul><ul><li>Nielsen Online research “Global Faces on Networked Places” (March 2009): </li></ul></ul><ul><ul><ul><li>Fastest growing sector for Internet use is communities and blog sites (5.4% in a year) </li></ul></ul></ul><ul><ul><ul><li>Member communities reach more Internet users (66.8%) than email (65.1%) </li></ul></ul></ul>Voice of the (Social) Customer
  11. 11. Voice of the (Social) Customer Source: Brian Solis
  12. 12. <ul><li>Each customer wants a personalized experience… </li></ul><ul><li>They couldn’t care less if they are high value or low value customers </li></ul><ul><ul><li>They don’t know if they are high or low value to you </li></ul></ul><ul><ul><li>But you have to accommodate even low value customers because of what they can do to you if you don’t </li></ul></ul><ul><li>But how do you begin to “know” millions of customers? </li></ul><ul><ul><li>First, understand how they interact with you at every point, in every channel </li></ul></ul><ul><ul><ul><li>That means detailed mapping, not just surveys, etc. </li></ul></ul></ul><ul><ul><li>Ultimately, the tools for the customer to manage their own experience are paramount </li></ul></ul><ul><ul><ul><li>Give them access to information that allows them to make informed, empowering choices which thus, provide value </li></ul></ul></ul>Voice of the (Social) Customer
  13. 14. VOICE OF THE (SOCIAL) CUSTOMER <ul><li>Voice of The Customer </li></ul>
  14. 15. <ul><li>The social customer is demanding a rich, engaging customer experience </li></ul><ul><li>Contact centers and multi-channel interactions with the customer are where the experience with a business is typically most intense. </li></ul><ul><li>Customer service is becoming perhaps the most important of the CRM pillars </li></ul>Voice of the (Social) Customer
  15. 16. <ul><li>Insight Doesn’t Come Easy </li></ul><ul><ul><li>Social customer demands much more of company </li></ul></ul><ul><ul><li>Company needs to know the customer personally </li></ul></ul><ul><ul><ul><li>Not just transactions </li></ul></ul></ul><ul><ul><ul><li>Not just behaviors </li></ul></ul></ul><ul><ul><ul><li>Not just demographic info </li></ul></ul></ul><ul><ul><ul><li>But emotions and attitudes </li></ul></ul></ul><ul><ul><ul><li>Plus who the influencers are </li></ul></ul></ul>Voice of the (Social) Customer
  16. 17. <ul><li>Knowing how the customer is thinking & feeling is of paramount importance to that insight. </li></ul><ul><li>How do you find this out when </li></ul><ul><ul><li>The customer communicates on multiple channels? </li></ul></ul><ul><ul><li>There are thousands & even millions of customers ? </li></ul></ul>Voice of the (Social) Customer
  17. 18. <ul><li>Must monitor & analyze all channels </li></ul><ul><li>However, don’t be fooled by myth of decreasing interest in using phone </li></ul><ul><ul><li>Forrester in 2007 found that preferred channel for customer service was phone including Gen Y (source: NATRMCE&SB Survey, 4 th Q, 2007) </li></ul></ul><ul><ul><li>Gen Y Stats: </li></ul></ul><ul><ul><ul><li>Call – 41% </li></ul></ul></ul><ul><ul><ul><li>Store visit – 35% </li></ul></ul></ul><ul><ul><ul><li>Email – 6% </li></ul></ul></ul><ul><ul><li>When dealing w/enterprise 77% still prefer phone (DMG Consulting/Yankee Group) </li></ul></ul>Voice of the (Social) Customer
  18. 19. <ul><li>What’s the real problem here? </li></ul><ul><ul><li>Another study from RightNow & YouGov Plc in 2007 of 2800 British consumers found that 69% of the respondents had actively complained between 1 & 5 times to a company </li></ul></ul><ul><ul><li>Expected the problem to be fixed to their satisfaction – 60% </li></ul></ul><ul><ul><li>Actually fixed to their satisfaction – 27% </li></ul></ul><ul><ul><li>No action taken at all – 34% </li></ul></ul>Voice of the (Social) Customer
  19. 20. Bad customer service can go viral Voice of the (Social) Customer
  20. 21. Great customer service & insight can create advocates – who can go viral Voice of the (Social) Customer
  21. 22. VOICE OF THE (SOCIAL) CUSTOMER <ul><li>Social CRM: Companies Respond </li></ul>Voice of the (Social) Customer
  22. 23. It’s all built around the conversation... Voice of the (Social) Customer
  23. 24. NETWORK <ul><li>Need to look at the social network & social graph…. </li></ul>Influence VOLUME Tonality Frequency Voice of the (Social) Customer
  24. 25. <ul><li>PLEASE DON’T CALL ME AGAIN! </li></ul>Please don’t call me again
  25. 26. And at the level of the individual phone call…. Voice of the (Social) Customer DECIBELS Emotion Detection Keywords/phrases Tempo Context
  26. 27. <ul><li>What is common to both is that the customers are aggressively conversing </li></ul>Voice of the (Social) Customer
  27. 28. <ul><li>And that you are capturing and analyzing the live conversations in real or near real time </li></ul>
  28. 29. Voice of the (Social) Customer What does this picture tell you? I’m asleep I’m frustrated I’m dead I’m exhausted
  29. 30. <ul><li>Visual (or verbal) cues provide information but, you still have to interpret & judge </li></ul>Voice of the (Social) Customer
  30. 31. <ul><li>What do you do – Customer Service Models </li></ul><ul><ul><li>Agent based call centers (Ayava, Genesys, Siebel, Amdocs) </li></ul></ul><ul><ul><li>Process based CRM (Sword-Ciboodle) </li></ul></ul><ul><ul><li>Community driven customer service (Helpstream, RightNow) </li></ul></ul><ul><ul><li>Customer experience focused call customer service (Kana) </li></ul></ul><ul><ul><li>Web self service (RightNow) </li></ul></ul>Voice of the (Social) Customer
  31. 32. <ul><li>Looking at the Technology </li></ul>Voice of the (Social) Customer
  32. 33. <ul><li>“ If companies mined the data that they were sitting on in all those megabytes of recorded customer calls, they would have a much clearer idea of what problems were costing them precious dollars in customer service. They could focus future development efforts on fixing those issues and reduce the volume of costly customer support contacts.” </li></ul><ul><li>Ian Jacobs, Senior Analyst, Datamonitor (DestinationCRM, June 13, 2009) </li></ul>Voice of the (Social) Customer
  33. 34. <ul><li>Technology </li></ul><ul><ul><li>Text/sentiment analytics </li></ul></ul><ul><ul><li>Speech analytics </li></ul></ul><ul><ul><li>CCPM systems </li></ul></ul><ul><ul><li>Social media monitoring </li></ul></ul><ul><ul><li>AVR/IVR </li></ul></ul><ul><ul><li>Web Self-Service </li></ul></ul><ul><li>CRM Integration </li></ul>Voice of the (Social) Customer
  34. 35. <ul><li>Contact Center Performance Management </li></ul><ul><ul><li>Key customer-driven components </li></ul></ul><ul><ul><ul><li>First Call Resolution (FCR) – not necessarily first contact resolution. </li></ul></ul></ul><ul><ul><ul><li>Root Cause Analysis - not just what is causing problem but why problem is caused </li></ul></ul></ul><ul><ul><ul><li>Next-Best Action – analysis across all touchpoints to evaluate & predict future customer needs. </li></ul></ul></ul><ul><ul><ul><li>Customer Experience Analytics – look at the results of the outcome. </li></ul></ul></ul>Voice of the (Social) Customer
  35. 36. <ul><li>Speech Analytics </li></ul><ul><ul><li>Word spotting </li></ul></ul><ul><ul><li>Call categorization </li></ul></ul><ul><ul><li>Context </li></ul></ul><ul><ul><li>Stereo capture – agent and customer </li></ul></ul><ul><ul><li>Emotion detection </li></ul></ul><ul><ul><ul><li>“ Yeah, you’ve been just great to me.” </li></ul></ul></ul><ul><ul><li>Data </li></ul></ul><ul><ul><ul><li>Reason for the call, </li></ul></ul></ul><ul><ul><ul><li>Competitors' names or products mentioned </li></ul></ul></ul><ul><ul><ul><li>Call length </li></ul></ul></ul><ul><ul><li>Root cause analysis </li></ul></ul>Voice of the (Social) Customer
  36. 37. Voice of the (Social) Customer Source: Donna Fluss, DMG Consulting, March 2007 Key Speech Analytics Benefits re: Customers Savings & Benefits of Speech Analytics Hard $$ Soft $$ Staff Reduction in agents X X Reduction in QA staff X Increased supervisory efficiency X Cost Reduction in call volume x Increased FCR x   Reduction in agent talktime x Reduction in hold time x   Reduction in line charges x Reduction in agent turnover x Revenue Increased sales x Decreased cost of sales x Increased campaign conversion rate x Corporate Improved regulatory compliance x x Improved customer experience   x Improved customer loyalty and branding   x Timely competitive information x
  37. 38. <ul><li>With all this change going on, remember : </li></ul><ul><ul><li>The social customer controls the conversation, but not your business </li></ul></ul><ul><ul><li>With all the transformation going on, the use of technologies like speech analysis supports insight, it doesn’t substitute for it. </li></ul></ul><ul><ul><li>Be smart in how you interact and with the tools you use to enhance the interaction and you will benefit </li></ul></ul><ul><ul><li>Don’t change and your business will suffer </li></ul></ul>Voice of the (Social) Customer Chances are good you are a social customer. So think like one. Please.
  38. 39. Author: CRM at the Speed of Light (4th Edition, November, 2009) President: The 56 Group, LLC Managing Partner/CCO: BPT Partners, EVP: National CRM Assn. Co-Chair: Rutgers CRM Research Center Named #1 CRM Influencer (Non Vendor) by InsideCRM 2007 Named #1 CRM Blogger 2005, twice in 2007 by TechTarget and InsideCRM & InsideCRM 2008 CRM Magazine 2008 Top Influencer PGreenblog: http://the56group.typepad.com Social CRM: The Conversation (ZDNET): http://blogs.zdnet.com/crm Email: [email_address] Twitter: http://www.twitter.com/pgreenbe Facebook: http://www.facebook.com/pgreenbe Cell phone: 703-551-2337 THANK YOU Voice of the (Social) Customer