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Speed to Advocacy: The New Measure of Customer Experience Excellence

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Talk at Gartner CRM Conference, Sept 10, 2015, San Diego.

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Speed to Advocacy: The New Measure of Customer Experience Excellence

  1. 1. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Speed to Advocacy: The New Measure of Customer Experience Excellence Bill Hobbib, VP Customer Experience bill.hobbib@oracle.com Linkedin: linkedin.com/in/billhobbib Louis Ross, VP, Coach Relations, Beachbody Oracle Confidential – Internal/Restricted/Highly Restricted
  2. 2. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted
  3. 3. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted 70% of Fortune 500 firms in 1990 are gone today, and 50% are gone since 2000 Very few retailers survive beyond a decade Iconic brands disappear
  4. 4. Copyright © 2014 Oracle and/or its affiliates. All rights reserved. | The buyer is in control. (But you‘re often still marketing,selling and servicingas if this wasn’t true.)
  5. 5. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Today, Everyone Wants to be Customer-Centric. A Few Companies Actually Get It. “Companies were in control up until 2000. But now the customer is in the driver’s seat. If you embrace that, you will thrive. If not, then by 2020, you will not survive.” Oracle Confidential – Internal/Restricted/Highly Restricted 5 — Jamie Nordstrom
  6. 6. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Customer Advocates… Virtual referral and sales force Share your brand’s content and offers Increase positive ratings on online review sites Defend you and your brand against critics Help other customers …most do it for free! Oracle Confidential – Internal/Restricted/Highly Restricted 6
  7. 7. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | The Ultimate Reward: Advocate Customers They Spend More… Spend 2Xas much as regular customers And Stay Longer… 5X greater lifetime value than average customers Growth (indexed) Years 5 10 15 20 25 100 200 300 400 500 Loyalty Leader Average Net Promoter Relationship to Growth Source: Bain & Company: How is Net Promoter Score℠ related to growth? They Help You Grow Faster…
  8. 8. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted 8 More sales driven by brand advocates and 18% more traffic than regular customers Of customers trust recommendations from people they know Consider buying product or service recommended by a brand advocate Of consumers have followed through with a friend’s brand recommendation via social 38% 92% 61% 33%
  9. 9. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Revenue Upside Potential From Doing This Well $1.6 billion wireless service provider $1.4 billion airline $ 825 million credit card provider Source: Forrester, “The Business Impact Of Customer Experience” (March 2014) 11% higher hotel rate for 1-point swing in travel review rating 46% more revenue/room for 4+ hotel vs 3 rating $14,099 average lifetime value of loyal premium coffee chain customer $10,000+: lifetime NPV of loyal affluent retail banking customer Sources: Cornell University School of Hotel Administration, “The Impact of Social Media on Lodging Performance,” Kissmetrics, “Calculating Lifetime Value”, Bain “Customer Loyalty in Retail Banking
  10. 10. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | But Most Companies Never Get there 77% of customers cite no relationship with a brand Oracle Confidential – Internal/Restricted/Highly Restricted 10 1 — Harvard Business Review
  11. 11. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted Why Many Companies Still Fall Short... The Customer Experience is Broken. of customers have discontinued communication with a company because of irrelevant promotions and messages. — Blue Research 94% It’s Transactional of customers don’t receive a consistent experience across channels. — Accenture 78% It’s Fragmented 82% Departments Struggle to Bring Together Customer Data of enterprise marketers have no synchronized view of customer data. – Forrester
  12. 12. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Time to Take a Different Approach Oracle Confidential – Internal/Restricted/Highly Restricted
  13. 13. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted 13 Getting millions of consumers to engage with their brand Support 400 Social channels globally, with 500 people touching social daily around the globe to improve customer care, build GM’s brand, support corporate reputation. “Customers don’t care about our org chart—they just care about getting answers as quickly as possible. We can’t win doing this in individual silos—we need to look like one team, one GM…Being in social is not an option…ROI tough to measure in dynamic business…corollary to ROI is Cost of Ignoring.”
  14. 14. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Interactive gaming company Delivering service where their customers are—within the game Oracle Confidential – Internal/Restricted/Highly Restricted 14 Customers access service directly from game. Company walks fine line between responding directly to game character, or determining issue is severe enough to respond to “Customer”. Service during product launch ramps from zero to millions of transactions.
  15. 15. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Data storage systems company Oracle Confidential – Internal/Restricted/Highly Restricted 15 Storage appliances self-diagnose issues. When problem diagnosed, device captures all appropriate diagnostics, searches knowledge, automatically creates a case, routes to engineer. Engineer has all of the solutions – can just request permission from customer to apply Proactive service for data center storage appliances
  16. 16. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Customer Advocacy Blueprint Oracle Confidential – Internal/Restricted/Highly Restricted
  17. 17. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted
  18. 18. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | 10 Steps Toward Customer Advocacy Gain most complete view of customer & employee data, connect silos 18 Excel at individual interactions INSIDE OUTOUTSIDE IN Provide connected, persona-driven buying journeys Engage customers via multiple channels Make it easy to do business with your company Proactively listen to voice of customer and include in innovation Rethink customer service metrics Involve and engage employees in all steps of the process Assess cross-org performance around engaging customers Institute cultural change around customer obsession
  19. 19. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Technology Solution Considerations Oracle Confidential – Internal/Restricted/Highly Restricted 19
  20. 20. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Your customer’s journey could be like this… 20 2. Tailor my engagement based on all interactions 3. Personalize best offer for my budget and needs 4. Keep the transaction process simple 7. Anytime/anywhere customer care 8. Listen and share my experiences 1. Provide me with relevant and timely content and offers 5. Flawless and on time delivery 6. Personalize timely and relevant recommendations Attract & Nurture Engage & Close Support & Listen
  21. 21. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | CUSTOMER BRAND Complete: Connecting Every Interaction With Your Brand Marketing Sales Social Service Commerce Config, Price, Quoting Commerce Social Marketing Service Social
  22. 22. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | CUSTOMER BRAND Complete: Connecting Every Interaction With Your Brand Marketing Sales Social Service Commerce Config, Price, Quoting Commerce Social Marketing Service Social
  23. 23. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Connected/Integrated and Standardized  Higher marketing, sales and service effectiveness  Greater customer retention/loyalty  Reduced time to market and results  Universal customer master  Standardized APIs  Social collaboration For the customers’ cross-channel journey ServiceSales SocialMarketing CommerceCPQ Examples: Social Customer Service Shopping Cart Abandonment via Marketing/Commerce Customer Acquisition via Look-alike Audiences: Social/Marketing Integrated Sales & Service End to End Lead to Quote to Order
  24. 24. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Extensible Extend solution, and integrate to the enterprise Ability to extend CX applications and build your own  Extend with tech/solution vendor or other PaaS providers  Leverage API Libraries for custom applications Ease of leveraging investments made in the enterprise  Integrate on-premise with cloud applications to efficiently automate key business processes
  25. 25. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted 25 3C’s of Customer Advocates Connectors Content Creators Communicators
  26. 26. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Keys, Tips for Building Customer Advocates Deliver a great customer experience Survey customer base to identify advocates Have a strategy for social customer advocacy—and execute it Listen to feedback from advocates Thank everyone for their feedback Reward advocates and followers Oracle Confidential – Internal/Restricted/Highly Restricted 26
  27. 27. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted 27 Excel at individual interactions Deliver connected, personalized journeys across all channels Connect cross-org processes & customer data, eliminate silos Implement cultural change around customer obsession, advocacy OUTSIDE IN INSIDE OUT
  28. 28. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |Oracle Confidential – Internal/Restricted/Highly Restricted 28 Source: Corporate Visions Your Customers Value Parity Your Value Wedge and Competitive Advantage
  29. 29. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Putting This Into Action How are you innovating and building your unique competitive advantage with customer experience? Oracle Confidential – Internal/Restricted/Highly Restricted 29 Understand what journeys drive revenue, loyalty and advocacy—and nail them!
  30. 30. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Oracle OpenWorld 2015 – Registration Now Open • October 25-29, 2015, San Francisco, CA • Largest convergence of business and IT – Combining education, engagement, collaboration and experience on today’s hottest topics • 99.5% of attendees said Oracle OpenWorld delivers on their objectives Oracle Confidential – Internal/Restricted/Highly Restricted 30
  31. 31. Knowledge. Service. Success. September 10, 2015 Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Louis Ross VP, Coach Relations
  32. 32. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. |
  33. 33. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | $1B
  34. 34. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Service •24/7: 40,000+ contacts per day •1,400+ service agents in 5 call centers in 4 countries •22 product lines •40,000 orders ship per day
  35. 35. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | Solutions •Organic Knowledge Base build •Leveraged native ServiceCloud functionality •Internal change management
  36. 36. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | - 5,000 10,000 15,000 20,000 25,000 30,000 Answer Views Per Day . 29,044
  37. 37. Copyright © 2014, Oracle and/or its affiliates. All rights reserved. | ROI •From 105 articles to 3,000+ •From 900 answer views per day to 29,000 [32x] •10,000/day x $3.50/contact = $12M+ per year saved
  38. 38. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Discussion/Questions Oracle Confidential – Internal/Restricted/Highly Restricted 38 Email: bill.hobbib@oracle.com Linkedin: linkedin.com/in/billhobbib Twitter: bhobbib

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