Voice Of The Customer 2009

Voice of the (Social)Customer:

Listen and Then Act

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

VOICE OF THE (SOCIAL) CUSTOMER

Who is the Social Customer?

• The Social Customer – The Rise New definition of trusted source

2008 Edelman Trust Barometer (60%), most trusted – “a person like me.”

Not an industry expert or academician or financial advisor Information available nearly instantaneously – either structured or

unstructured via the web (Google, Yahoo, MSN) On Demand software as a service Enterprise value chain supersedes siloed supply, demand & support

chains Link between lifestyle and business – consumers adopt “sexy” content The experience is the thing


Edelman Trust Barometer 2003 – “A Person Like Me” – 22% 2004 – “A Person Like Me” – 51% 2005 – “A Person Like Me” – 56% 2008 – “A Person Like Me” – 60% Most trusted source moved from non-connected (to corporation) experts

to “a person like me.” Customers demand authenticity & transparency now



Social customers communicate: 24X7 Via multiple channels With accelerated & enhanced expectations With the idea that all institutions will respond the way we want them to With trusted sources i.e. peers

Sea change in use of technology

Gen Y first generation to spend more time on the ‘Net than watching TV

Implications for marketing staggering

74% of all U.S. adults spend time online (source: Pew Internet & American Life Project)


• The Social Customer – The Establishment Social networks as active participants in effecting change (blogosphere,

podcasting) Collaboration between company & customers to provide useful value for

each begins Personal value chain subsumes enterprise value chain Ubiquitous technologies leading platform The Live Web (Web 2.0) (Twitter, Facebook) 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)

The social customer is increasingly a mobile customer Consumerization of the enterprise (Blackberry Pearl)


• Using Social Networks• Nielsen Online research “Global Faces on Networked Places”

(March 2009):• Fastest growing sector for Internet use is communities and

blog sites (5.4% in a year)• Member communities reach more Internet users (66.8%)

than email (65.1%)



Source: Brian Solis

• Each customer wants a personalized experience…

• They couldn’t care less if they are high value or low value customers They don’t know if they are high or low value to you But you have to accommodate even low value customers because of

what they can do to you if you don’t

• But how do you begin to “know” millions of customers? First, understand how they interact with you at every point, in every

channel That means detailed mapping, not just surveys, etc.

Ultimately, the tools for the customer to manage their own experience are paramount

Give them access to information that allows them to make informed, empowering choices which thus, provide value



Voice of The Customer

The social customer is demanding a rich, engaging customer experience

Contact centers and multi-channel interactions with the customer are where the experience with a business is typically most intense.

Customer service is becoming perhaps the most important of the CRM pillars


Insight Doesn’t Come Easy Social customer demands much more of company Company needs to know the customer personally

Not just transactions Not just behaviors Not just demographic info But emotions and attitudes Plus who the influencers are


Knowing how the customer is thinking & feeling is of paramount importance to that insight.

How do you find this out when The customer communicates on multiple channels? There are thousands & even millions of customers?


Must monitor & analyze all channels However, don’t be fooled by myth of decreasing interest

in using phone Forrester in 2007 found that preferred channel for customer

service was phone including Gen Y (source: NATRMCE&SB Survey, 4thQ, 2007)

Gen Y Stats: Call – 41% Store visit – 35% Email – 6%

When dealing w/enterprise 77% still prefer phone (DMG Consulting/Yankee Group)


What’s the real problem here? 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

Expected the problem to be fixed to their satisfaction – 60% Actually fixed to their satisfaction – 27% No action taken at all – 34%


Bad customer service can go viral


Great customer service & insight can create advocates – who can go viral



Social CRM: Companies Respond


It’s all built around the conversation...


NETWORK

Need to look at the social network & social graph….

Influence

VOLUME

Tonality

Frequency


PLEASE DON’T CALL ME AGAIN!Please don’t call me again

And at the level of the individual phone call….


DECIBELS

Emotion Detection

Keywords/phrases

Tempo

Context

What is common to both is that the customers are aggressively conversing


And that you are capturing and analyzing the live conversations in real or near real

time


What does this picture tell you?

I’m asleep

I’m frustrated

I’m dead

I’m

exhaustedI’m

exhausted

Visual (or verbal) cues provide information but, you still have to

interpret & judge


What do you do – Customer Service Models Agent based call centers (Ayava, Genesys, Siebel, Amdocs) Process based CRM (Sword-Ciboodle) Community driven customer service (Helpstream, RightNow) Customer experience focused call customer service (Kana) Web self service (RightNow)


Looking at the Technology


“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.”

Ian Jacobs, Senior Analyst, Datamonitor (DestinationCRM, June 13, 2009)


Technology Text/sentiment analytics Speech analytics CCPM systems Social media monitoring AVR/IVR Web Self-Service

CRM Integration


Contact Center Performance Management Key customer-driven components

First Call Resolution (FCR) – not necessarily first contact resolution.

Root Cause Analysis - not just what is causing problem but why problem is caused

Next-Best Action – analysis across all touchpoints to evaluate & predict future customer needs.

Customer Experience Analytics – look at the results of the outcome.


Speech Analytics Word spotting Call categorization Context Stereo capture – agent and customer Emotion detection

“Yeah, you’ve been just great to me.” Data

Reason for the call, Competitors' names or products mentioned Call length

Root cause analysis



Savings & Benefits of Speech Analytics Hard $$ Soft $$StaffReduction in agents X XReduction in QA staff X

Increased supervisory efficiency XCostReduction in call volume xIncreased FCR x

Reduction in agent talktime xReduction in hold time x Reduction in line charges x

Reduction in agent turnover xRevenueIncreased sales xDecreased cost of sales xIncreased campaign conversion rate xCorporateImproved regulatory compliance x x

Improved customer experience xImproved customer loyalty and branding x

Timely competitive information x

Source: Donna Fluss, DMG Consulting, March 2007

Key Speech Analytics Benefits re: Customers

With all this change going on, remember: The social customer controls the conversation, but not your

business With all the transformation going on, the use of technologies like

speech analysis supports insight, it doesn’t substitute for it. Be smart in how you interact and with the tools you use to

enhance the interaction and you will benefit Don’t change and your business will suffer


Chances are good you are a social customer. So think like one. Please.

Author: CRM at the Speed of Light (4th Edition, November, 2009)President: The 56 Group, LLCManaging Partner/CCO: BPT Partners,EVP: National CRM Assn.Co-Chair: Rutgers CRM Research CenterNamed #1 CRM Influencer (Non Vendor) by InsideCRM 2007Named #1 CRM Blogger 2005, twice in 2007 by TechTarget and InsideCRM & InsideCRM 2008CRM Magazine 2008 Top InfluencerPGreenblog: http://the56group.typepad.comSocial CRM: The Conversation (ZDNET): http://blogs.zdnet.com/crmEmail: [email protected]: http://www.twitter.com/pgreenbeFacebook: http://www.facebook.com/pgreenbeCell phone: 703-551-2337

THANK YOUTHANK YOU


Business

Voice Of The Customer 2009