Shaking the CEO Money Tree

Kirsten Bay, CEO, Attensity

My Intersection with Big Data

About Attensity

12+ years experience in unstructured analytics

9 patents in natural language processing and data ingestion

150 Million web & social sources available to users

150+ installations worldwide

World’s largest NLP development group

Leading provider of social analytics & engagement applicationsAnalyze and Act on social conversations, no matter where they occur:

Twitter • Facebook • Google+ • blogs • reviews • forums • communities • emails • surveys • more

Millions of Customer Conversations

450 Million Tweets per day247 Billion Emails per day126 Million BlogsMillions of CRM Records100s of Millions of Surveys

In the Beginning…

Social Media = Marketing Talking To The World

Now…

Social Media = Customers and Companies Engaging

Over 1/3 of Tweets to Brands are Service-Related

Social Media: Not Just For Marketing Anymore

Marketing and Customer Service

Problems may be creating your marketing content, but the social media marketing team also needs to know how to handle a crisis with a plan

A decision has to be made, whether an issue should be handled privately (via traditional channels ) or do you consider going public to demonstrate that you listen and care about your customers and create a positive outcome for your brand?

Do you ‘delete or not delete’ the comment? It is considered poor form to bury bad press as this can lead to complaints going onto other social platforms and making the problem worse

Proving you can handle these situations and adding value for the customer is even more important than just creating informative and engaging marketing content

The Internet and Social Media Have Changed Customer Service Forever

Customers expect instant and easy access to service any time, any where

Self service, community support, 3rd party forums and service via Twitter are becoming expected parts of a service offering

Customers expect instant response no matter where they communicate their issues

Today’s consumers show a growing preference for using social media for customer service

Among 18-24 year olds, 37% prefer customer service through social media rather than the phone

The State of Social Customer Service 2012 - NM Incite

Great Service = Great Marketing

As social media continues to grow, it is really important for businesses to accept the fact that consumers will turn to online channels to complain about service issues

It’s very easy for your customers to go elsewhere if you #fail

Unless you get the engagement plan right - whatever you achieve with your social media marketing your brand can be damaged

The correlation between great social media service experiences, strong social marketing and likelihood to purchase something from a brand is very significant!

87% of consumers say their online social interaction with the company “positively impacted” the likelihood that they’ll purchase from that brand

J.D. Power and Associates 2013 Social Media Benchmark Study

Customer Service Blind Spots Lead Consumers to Switch to Competitors

During the online service process, consumers communicate specific areas of dissatisfaction

BUT, most companies remain blind to customers who have communicated issues and who have even partially switched leaving them unable to respond until it is too late

Most companies fail to identify when a business pattern with a customer changes and respond accordingly

Companies would do well to pay attention to “tremors” as much as they attend to “earthquakes”

Accenture 2011 Global Consumer Research Study New Realities

And These Demographics May Surprise You

Consumers 18 to 29-years-old are more likely to use a brand’s social media site for servicing interactions (43%) than for marketing (23%)

Your best social marketing customer may be over 50 - 38% of those 50 and older interact with a brand’s social media site for marketing

Most social marketers aim content and engagement toward an audience they presume is young, but this study demonstrates that considering a more mature voice in social marketing could pay off

Generation X Expects Both Customer Service & Marketing Via Social - consumers ages 30 to 49, use of social media for marketing and servicing is divided straight up the middle (39% for each)

J.D. Power and Associates 2013 Social Media Benchmark Study

How DO you get budget?

So…

It’s more than ROI… It is about revenue!

Marketing and Customer Service Should Work Together to Shake the Money Tree

You Need a Comprehensive Strategy

Efficiently and Centrally drive key engagement processes

Work Together To Deliver actionable insights for the whole company

You Need One System and Policy for Engagement Across an Organization

Product Issue: Request for help or reported problem > Create ticket for Call Center

Corporate Rant or Rave > Route to Corporate Communications

Lead / Intent-to-buy > Route to SFA system for Inside Sales

Feature Suggestion, Product Compliment or Complaint > Automatic Jira ticketing for Product Management

Fraud: Communication from an unauthorized provider of products, use of brand in spam activity > Delivery to Outlook mailbox for Legal

Work Together to Use Customer Communications to Better Understand Your Customers and Market

Sentiment – how customers feel about the company and specific products

Top Complaints, compliments and emerging issues

Customer Profiling – who is contacting you

Net Promoter Score™ correlations

Intent to churn, intent to buy

Spot opportunities to win new business from customers frustrated with the competition

Key Takeaways

Marketing and Customer Service Need to Work Together to Deliver a Comprehensive Brand Experience

Combine Forces in Budgeting for a Corporate-Wide System to Ensure Uniformity and Compliance

Combine to Gather Actionable Insights for the Company

Let’s Continue The Conversation!

Attensity Camp | LinkedIn

Q&A