This document discusses how companies can capitalize on opportunities presented by existing customers during economic downturns. It emphasizes that maintaining customer loyalty and effectively serving current customers is crucial for survival and a source of savings and growth. Analyzing customer feedback through tools like Attensity Voice of the Customer allows companies to understand customer sentiment, identify issues, and take actions like preventing churn to preserve revenue and uncover opportunities to increase revenue through customer satisfaction.
Vertex | Customer Managerment Outsourcing | OverviewVertex Group
Enhancing business value, improving the customer experience
Your success relies on your customers, which is why we use our expertise, experience, and proven methods to improve your organization’s effectiveness. Whatever the economic climate, we manage the ongoing evolution of your customers’ experience, making your relationships successful and long-term.
Vertex helps you turn your customer interactions into insight, addressing three key areas in customer experience management: resolving customer contacts to create real value, analyzing transactions that don’t add value, and continually improving service effectiveness and efficiency.
Achieving Dialogue In The Age Of The Omni-Channel CustomerG3 Communications
"Blast" marketing strategies of the past are no longer sufficient to engage today's customers and foster loyalty. Typical campaign response rates have plummeted while customer opt-out rates have ascended, limiting your ability to converse with even your most valuable customers. New automated dialogue strategies can help retailers create a seamless experience across all channels and engage with each of their customers as individuals, connecting every customer communication - outbound, inbound, marketing, sales or service - into an ongoing dialogue where customer insight and understanding forms the basis for each and every interaction.
To keep pace with the ever increasing demand for real-time customer service, shifting to mobility has become inevitable for the insurance industry. In
today's scenario, where real-time servicing of customer requests 'on the fly' has become a norm, mobile technology seems ideally positioned to
enable insurers gain a competitive advantage. Mobile solutions enable faster and improved communications between customers, field agents,
and the central processing office of the insurer.
Adopting mobile technology can help insurers
enhance customers' experiences, increase
productivity, while keeping a check on costs, and
mitigating operational risks.
Thought Paper:Four Strategies to Build the Smarter BankInfosys Finacle
Robert Kiyosaki, American investor and author (of Rich Dad Poor Dad fame), hits the nail on the head when he says, “You have to be smart. The easy days are over.”
As consumers go about trying to manage their money, there is an opportunity for banks to show them that they’re not alone – by being the ideal financial partner that listens, understands needs, shows respect, acts with integrity, serves with a purpose and exceeds expectations through its products, services and financial guidance.
In other words, by becoming a smarter bank.
Vertex | Customer Managerment Outsourcing | OverviewVertex Group
Enhancing business value, improving the customer experience
Your success relies on your customers, which is why we use our expertise, experience, and proven methods to improve your organization’s effectiveness. Whatever the economic climate, we manage the ongoing evolution of your customers’ experience, making your relationships successful and long-term.
Vertex helps you turn your customer interactions into insight, addressing three key areas in customer experience management: resolving customer contacts to create real value, analyzing transactions that don’t add value, and continually improving service effectiveness and efficiency.
Achieving Dialogue In The Age Of The Omni-Channel CustomerG3 Communications
"Blast" marketing strategies of the past are no longer sufficient to engage today's customers and foster loyalty. Typical campaign response rates have plummeted while customer opt-out rates have ascended, limiting your ability to converse with even your most valuable customers. New automated dialogue strategies can help retailers create a seamless experience across all channels and engage with each of their customers as individuals, connecting every customer communication - outbound, inbound, marketing, sales or service - into an ongoing dialogue where customer insight and understanding forms the basis for each and every interaction.
To keep pace with the ever increasing demand for real-time customer service, shifting to mobility has become inevitable for the insurance industry. In
today's scenario, where real-time servicing of customer requests 'on the fly' has become a norm, mobile technology seems ideally positioned to
enable insurers gain a competitive advantage. Mobile solutions enable faster and improved communications between customers, field agents,
and the central processing office of the insurer.
Adopting mobile technology can help insurers
enhance customers' experiences, increase
productivity, while keeping a check on costs, and
mitigating operational risks.
Thought Paper:Four Strategies to Build the Smarter BankInfosys Finacle
Robert Kiyosaki, American investor and author (of Rich Dad Poor Dad fame), hits the nail on the head when he says, “You have to be smart. The easy days are over.”
As consumers go about trying to manage their money, there is an opportunity for banks to show them that they’re not alone – by being the ideal financial partner that listens, understands needs, shows respect, acts with integrity, serves with a purpose and exceeds expectations through its products, services and financial guidance.
In other words, by becoming a smarter bank.
We will examine how to create a cost benefit analysis document that clarifies your customer’s problem, explains your intended solution, and details the work required. We will break down costs of the current state and future state compared to forecasted benefits to show payback of the solution over time. This session will guide you through a simple process to help you understand how to calculate and communicate the business value of your SharePoint solutions.
Tavant Technologies Showcases its Field Service Mobilty Solution at WCM 2012 Tavant Technologies Inc.
Automation of Warranty Management applications helps improve warranty KPIs and reduce costs. But there is another other side of warranty that connects to the field repair process, which is often overlooked.
Service technicians are usually in the field to fix the customers’ problems proficiently, and should not be bothered with any other issues that could delay or hold their work. Be it preventive maintenance, unscheduled repair or warranty replacement, troubleshooting and decision making in the field is often intricate and time-consuming.
Also, field technicians strive to understand complex contract or warranty entitlements, policies, or service bulletins to make on-field decisions on troubleshooting or to evaluate the coverage for billing and warranty or service contracts.
Therefore, it’s important for organizations to mobilize their field service staff by automating the field service tasks, and connecting transactions in the field with warranty, contracts and other backend ERP systems.
In this white paper, the author discusses the real-life challenges faced by field technicians and how they can be empowered with mobility solutions to improve field productivity, increase accuracy of diagnostics, reduce warranty and invoicing cycle times, enhance service revenues, and most importantly, improve customer experience to make service excellence a strong selling point.
An exploration into service design strategy within automotive retailing.Ayman Sarhan
Service design is a system of thoughtfully executed customer interactions. Chris Bedford and Anson Lee explain that it is
a discipline that has been around for some time, becoming a critical element in what is now referred to as the experience economy. In this context, they analyze a spectrum of design strategies they developed for an auto dealership in Vancouver that, within a year of execution, contributed to a 28 percent
increase in sales.
Harris Interactive Src Making Loyalty Measurement RealMichael Lowenstein
Over the past 30 years, customer loyalty measurment has progressed beyond satisfaction, performance, and loyalty to the monetizing impact of customer bonding and advocacy.
Seminar 2: Testing The Water: Market Research and Validation
Date: Thursday 15 March 2012
Time: 5.30pm-7.00pm
Venue: Cambridge campus (LAB026) - Chelmsford campus (MAB221)
You have a great idea but will anyone actually want to buy it. Understanding the market you're in, what your customers actually want and who you're going to be up against is key if you want to be a success.
Guest speaker: Stewart McTavish, Innovation Director, IdeaSpace
Stewart McTavish is the Innovation and Support Director at the University of Cambridge ideaSpace. Before joining the ideaSpace he founded three ventures in web and media. At ideaSpace Stew helps advise and connect entrepreneurs.
So if the bank of the future is really the “bank of now”, what does that mean? It means that you have to take action now, today, to create a banking environment that’s capable of taking on the challenges of a rapidly changing marketplace.
Customer experience is made up of the sum of interactions and touch points with all the people, products and services a company provides to or for them. Customer service experience is a subset of the overall customer experience. Specifically, a customer service experience is the sum of the interactions between you and your customers when they are trying to communicate with or to you, often regarding something that has gone awry. Customers of all types (not just social customers) are emotional and tend to rate experiences based upon the expectations set (either specifically, or ones we set in our mind) – yes, they are often shared. The simple question is: “Is your business organized in such a way to accelerate your company’s ability to deliver a service experience, which meets or better, exceeds customer expectations?”
Social: Session 7: Turbocharging Customer Service Through Social TechnologiesSugarCRM
Social media - Twitter, Facebook, discussion forums, ideation communities, social listening platforms to name a few - can be used to help companies deliver a customer service experience that aligns with customer expectations. This alignment ultimately results in a more loyal customer base and a quantifiably larger wallet share. However, the value of these social technologies can’t be realized by just bolting them onto a suboptimal contact center. This presentation describes the foundational elements that your contact center must get right before you consider adding social technologies, and how social technologies can be deployed in a manner that extends current capabilities, and reinforces the customer experience and company brand.
We will examine how to create a cost benefit analysis document that clarifies your customer’s problem, explains your intended solution, and details the work required. We will break down costs of the current state and future state compared to forecasted benefits to show payback of the solution over time. This session will guide you through a simple process to help you understand how to calculate and communicate the business value of your SharePoint solutions.
Tavant Technologies Showcases its Field Service Mobilty Solution at WCM 2012 Tavant Technologies Inc.
Automation of Warranty Management applications helps improve warranty KPIs and reduce costs. But there is another other side of warranty that connects to the field repair process, which is often overlooked.
Service technicians are usually in the field to fix the customers’ problems proficiently, and should not be bothered with any other issues that could delay or hold their work. Be it preventive maintenance, unscheduled repair or warranty replacement, troubleshooting and decision making in the field is often intricate and time-consuming.
Also, field technicians strive to understand complex contract or warranty entitlements, policies, or service bulletins to make on-field decisions on troubleshooting or to evaluate the coverage for billing and warranty or service contracts.
Therefore, it’s important for organizations to mobilize their field service staff by automating the field service tasks, and connecting transactions in the field with warranty, contracts and other backend ERP systems.
In this white paper, the author discusses the real-life challenges faced by field technicians and how they can be empowered with mobility solutions to improve field productivity, increase accuracy of diagnostics, reduce warranty and invoicing cycle times, enhance service revenues, and most importantly, improve customer experience to make service excellence a strong selling point.
An exploration into service design strategy within automotive retailing.Ayman Sarhan
Service design is a system of thoughtfully executed customer interactions. Chris Bedford and Anson Lee explain that it is
a discipline that has been around for some time, becoming a critical element in what is now referred to as the experience economy. In this context, they analyze a spectrum of design strategies they developed for an auto dealership in Vancouver that, within a year of execution, contributed to a 28 percent
increase in sales.
Harris Interactive Src Making Loyalty Measurement RealMichael Lowenstein
Over the past 30 years, customer loyalty measurment has progressed beyond satisfaction, performance, and loyalty to the monetizing impact of customer bonding and advocacy.
Seminar 2: Testing The Water: Market Research and Validation
Date: Thursday 15 March 2012
Time: 5.30pm-7.00pm
Venue: Cambridge campus (LAB026) - Chelmsford campus (MAB221)
You have a great idea but will anyone actually want to buy it. Understanding the market you're in, what your customers actually want and who you're going to be up against is key if you want to be a success.
Guest speaker: Stewart McTavish, Innovation Director, IdeaSpace
Stewart McTavish is the Innovation and Support Director at the University of Cambridge ideaSpace. Before joining the ideaSpace he founded three ventures in web and media. At ideaSpace Stew helps advise and connect entrepreneurs.
So if the bank of the future is really the “bank of now”, what does that mean? It means that you have to take action now, today, to create a banking environment that’s capable of taking on the challenges of a rapidly changing marketplace.
Customer experience is made up of the sum of interactions and touch points with all the people, products and services a company provides to or for them. Customer service experience is a subset of the overall customer experience. Specifically, a customer service experience is the sum of the interactions between you and your customers when they are trying to communicate with or to you, often regarding something that has gone awry. Customers of all types (not just social customers) are emotional and tend to rate experiences based upon the expectations set (either specifically, or ones we set in our mind) – yes, they are often shared. The simple question is: “Is your business organized in such a way to accelerate your company’s ability to deliver a service experience, which meets or better, exceeds customer expectations?”
Social: Session 7: Turbocharging Customer Service Through Social TechnologiesSugarCRM
Social media - Twitter, Facebook, discussion forums, ideation communities, social listening platforms to name a few - can be used to help companies deliver a customer service experience that aligns with customer expectations. This alignment ultimately results in a more loyal customer base and a quantifiably larger wallet share. However, the value of these social technologies can’t be realized by just bolting them onto a suboptimal contact center. This presentation describes the foundational elements that your contact center must get right before you consider adding social technologies, and how social technologies can be deployed in a manner that extends current capabilities, and reinforces the customer experience and company brand.
This paper details the use of the IT Infrastructure Library Framework (ITIL) for optimising process workflows in the IT Service Centre of Harz University in Wernigerode, Germany, exemplified by the Release Management Process.
CASRO Client Conference - The Practical Application of a CUSTOMER EXPERIENCE Program
Contact me to explore design, development & implementation of similar program for your Firm or Clients.
Insights To Accelerate Services Growth (Oco White Paper)Jon Hansen
White Paper Introduction (Excerpt):
Much has been written about customer satisfaction, account management practices, and measurement systems
for services businesses. Some of the approaches take a simple, monolithic approach and propose a standard
model for management of all service businesses. We suggest a different approach and recommend that a service
business should be managed and measured based on the maturity of the service business and the specific requirements of its’ customers.
To help operationalize this approach, we provide a framework for understanding how a services organization and its’ customer engagement should be measured. This framework is based on the premise that these organizations often progress through three distinct stages – Customer Centric, Profit Centric and Growth Centric – as they
evolve. We specifically outline various information and reporting approaches to support strategic account management of services businesses at each stage of their evolution, we provide examples of what service metrics are most relevant, and then discuss the effective intersection of account practices and metrics by means of a customer dashboard tool used by many leading firms.
Oco Web Site: http://www.oco-inc.com/
How important is customer satisfaction for your business today? Meeting the needs of the customer through business process outsourcing is the new lynchpin for organizations when it comes to determining their profits. Customer service outsourcing is no longer a novelty. It is a necessity. There is now an increasing need to strike a balance between customers and shareholders. Is your organization equipped to address this need?
Banks and credit unions are constantly at risk of losing customers or members, and in order to stem the flow, they may offer their best customers better rates, waive annual fees and prioritize treatments. However, such retention strategies have associated costs, and you cannot afford to make such offers to every single customer. The success and feasibility of such strategies is dependent on identifying the right customer for the right action.
SAS® Customer Analytics for Banking turns raw data into insight that banks and credit unions can use to manage marketing strategy intelligently and increase customer retention. The integrated software infrastructure enables business users to analyze complex customer behavior hidden in large volumes of historical data.
You can then use that information to answer critical business questions, such as which customers are likely to try a new product and which are likely to leave the bank entirely. Learn more at http://www.nafcu.org/sas
Customer Analytics in Retail - Know Thy CustomersDhiren Gala
A solution to decode the mysterious ways in which customers move is closer than you think.
Customers are at the heart of any business. One unshakable rule of any business is to “know your customer.” In today’s business climate, this means using Business Intelligence (BI) to analyse complex customer data. With BI, companies can answer a wide range of critical questions about their customer base.
Similar to Attensity Fpi Growing Company Final (20)
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
1. GROW YOUR COMPANY IN A DOWNTURN
Capitalize on Hidden Opportunities
Your Customers Provide
More than ever, companies are focused on their existing customers to drive business value. During challenging economic times these
customers and their continued loyalty is the lifeline for survival. The necessity of effectively and proactively serving your existing customers
is a tremendous opportunity for both savings and growth.
The old metric that talks about taking less money to keep a current customer than to get a new one is not only true — but a key part in allowing
companies to maintain a customer base without spending excessively. Not only do your current top customers tend to represent the largest chunk
of your revenue, but their loyalty and positive word of mouth represent your future growth. The place to make your modest investments with the
strongest ROI this year is in your current customers.
In a tight economy there are two critical things that these investments can enable:
• Revenue preservation — find out if customers are going to leave, understand why and save them; and
• Revenue growth — understand if customers are having issues ("cries for help") and delight them by acting on those issues. This generates
amazing word of mouth, builds a network of customer advocates and creates growth.
THE ATTENSITY SOLUTION “The purpose of business is not to
Attensity Voice of the Customer (VOC) offers the power of Attensity' text analytics software in an make a sale, but to make and
“on-demand” hosted offering or for your use in-house. It enables you to rapidly and accurately analyze keep a customer.”
customer feedback - given directly to you in emails, services notes or survey responses and publishing - Peter Drucker, legendary
online in Blogs, reviews, forums, etc. management consultant
Through reports, dashboards and alerts, users are kept up-to-date on customer sentiment, issues, “Just a 10% improvement in
requests and requirements. Potential for attrition is tracked, as well as opinions and comparisons to customer retention results in a
the competition. Attensity VOC includes access via a web-browser so that business analysts, quality 30% increase in the value of the
and service personnel and executives can easily gain access to powerful customer insights. company.”
- Bain & Company
Attensity VOC offers the power of Attensity’s patented Extraction Engines™ that automatically pull out
and transform facts found various forms of unstructured customer feedback into data that can be “A 5% increase in customer
queried, reported on and analyzed. The newly structured feedback is then fused with existing structured retention can increase business
data like customer segment, product identifiers or specific survey scores so that it can be analyzed by profits by 25% to 125%.”
users in the context of their business. Dashboards, reports and an ad hoc query tool enable the customer - From “Leading on the Edge
experience analyst to uncover issues, identify trends and analyze customer sentiment. of Chaos: The 10 Critical
Elements for Success in Volatile
Attensity VOC On Demand requires no installation and provides customer analysts with immediate access Times,” by Emmett C. Murphy
to valuable customer feedback that can drive critical business decisions around products, services and and Mark A. Murphy, Prentice
customers. Hall Press, March 2002
CUSTOMER FEEDBACK ANALYSIS WITH ATTENSITY “Acquiring a new customer can
cost six to seven times more than
retaining an existing customer.”
A N A LY Z E O N - L I N E
- From “Customer Acquisition
Versus Customer Retention,”
Surveys
Service Notes
CRM Data
by Frederick Reichheld, Bain
& Company, November 2006
Emails
Blogs CREATE 1 Review Auto 2 Interact, Re ne 3 Identify 4 Try It
Web Forum BUSINESS Generated Query, Alert... Potential Again!
etc. CATEGORIES Reports Actions
MANAGE
Voice of the Customer Analytics
CATEGORIES • Sentiment Analysis
A ensity • Churn
Process • Product Issues
• Market Buzz
(competitive, issues, sentiment)
SOLUTIONS FOR GROWING YOUR COMPANY