Wednesday Feb 06, 2013
Tuesday Feb 05, 2013
By Tuula Fai on Feb 05, 2013
You’ve heard the term ‘Proactive Service.’ You know it means reaching out to customers to give them a better experience. But you’re wondering, What’s the best way to do that? Because you want to reach out with service that is personal and relevant—so you can drive more sales and lower support costs.
Brands that stand out are those that get ahead of customer needs and use every interaction to grow their business. By engaging with consumers before they have issues, companies can increase customer satisfaction and operational efficiency, resulting in sustainable growth and profits.
Here are the top three ways to proactively reach out to customers:
- Invite customers to chat on your website
- Update customers with service alerts
- Send targeted campaigns and personalized emails
First, business rules enable you to automatically offer chat based on criteria like how many answers a customer has viewed on your website, or whether she is about to abandon her shopping cart. By engaging at the point of need, you can resolve customer issues quickly and boost sales.
Drugstore.com, a Walgreens Company, uses Oracle RightNow Cloud Service to proactively offer chat. By using chat to guide online shoppers, Drugstore’s beauty.com has achieved a 30% online conversion rate and increased shopping basket size by 20%.
Second, you can send customers relevant information—like service alerts, knowledge updates, or product enhancements—based on their profile preferences. This proactive outreach helps build loyalty while saving money on call deflection.
ResortCom International, a vacation industry leader, uses Oracle RightNow Cloud Service to proactively deliver relevant service and offers to customers through their preferred channels and times of day. Proactive communications have decreased its inbound calls by 20%, resulting in $200,000 savings. ResortCom also increased its business 10X with no increase in support headcount.
Third, you can use profile preferences to send customers targeted campaigns and personalized emails. Putting relevant content in front of consumers helps keep your brand top-of-mind, increasing sales opportunities and customer retention.
Shaklee, the number one natural nutrition company in the U.S., uses Oracle RightNow Cloud Service to create personalized campaigns and automatically send welcome letters and birthday emails to members. Personalized outreach has increased Shaklee’s campaign click-through rates and saved money on marketing headcount.
In summary, proactive service helps you drive more sales opportunities and lower support costs at the same time.
Learn more about Oracle RightNow Cloud Customer Service Solutions at www.oracle.com/rightnow
Monday Feb 04, 2013
By Christina McKeon on Feb 04, 2013
Sunday Feb 03, 2013
By Samantha.Y. Ma on Feb 03, 2013
Allison Kutz, Lindsay Richardson, Jennifer Rossbach
Card stores, jewelers and florists are preparing for their busiest season of the year. With Valentine’s Day right around the corner, you are giving extra attention to your loved ones. Your loved ones are the people who bring out the best in you, similar to how territory management systems are designed to bring out the best in each territory. Without a territory management system, chances are you wouldn’t know where to focus your attention, you wouldn’t be pairing the right rep with each territory, your expense account would be larger, and you would close fewer deals. You wouldn’t spend Valentine’s Day focusing on people who don’t bring out the best in you, so why spend time creating territories that don’t provide the best results? Instead of spending your Valentine’s Day thinking about the deals that got away; adopt a territory management system to find your match.
Get the most out of your relationship with better territory alignment
Today, over 40% of sales reps have a schedule that is either overbooked or under-scheduled. Even worse, those reps that are overbooked in the last three quarters of a fiscal year are often not busy during the first quarter. This first quarter lull, which many companies experience, is because reps haven’t been assigned a territory yet. An effective territory management solution allows sales reps to start their fiscal year running. When reps have all 52 weeks in the year to achieve their quota, the bottom line will increase. Correctly aligned territories spread high potential opportunities equally among reps and eliminate wasted time and resources.
Love deeper than the surface with advanced formulas
True love is certainly more than what you see at surface level, and a territory management system is no different. Leonard M Lodish, Associate Professor of Marketing at the University of Pennsylvania, created a mathematical model to determine maximal profit solutions. One way this model increases total profitability is by “taking sales time from territories with small marginal value and adding it to those of high marginal value”- i.e. changing territory boundaries. Every company has a unique set of best practices that wouldn’t work for another company the same way. Similarly, one standard territory assignment wouldn’t work the same way in multiple organizations. The advanced formulas working beneath the surface of a territory management system ensure that the territory boundaries are as effective as possible. These boundaries can apply not only to state lines, but to industries, product lines, and additional unique methods. Sales reps spend about 20% of their time traveling, often in an unorganized manner. Selecting a geographical territory alignment, for instance, would reduce the amount of time reps spend in cars and on airplanes, and in turn, increase the amount of time they spend selling and generating revenue.
Test your relationship before you commit with territory proposals
The future is scary to think about, especially for a sales organization with a volatile market. Finding the right territories for the present and future can help alleviate these fears. With Fusion Territory Management companies can manage their territories before they become permanent with live information and real production data. Eliminating ‘the guessing game’ allows users to evaluate territory alignment ideas and compare them to see which would be more productive. When managers have free time, they can formulate a territory proposal, and save it until they wish to use it days, weeks, and even months later. With a valuable territory management system companies can be sure all their customers are receiving the attention they deserve. Just like Valentine’s Day is for focusing on loved ones who bring out the best in you, territory management systems are used to bring out the best in each territory. This Valentine’s Day, don’t rely on a manual alignment of territories and risk letting a customer get away. Adopt a beneficial territory management solution to find your match.
Want to find out more? Join our webcast on February 15 from 10-10:30 am PST / 1-1:30 pm EST
Friday Feb 01, 2013
By Michael Seback on Feb 01, 2013
“In the aftermath of the financial crisis, retail banks around the globe are struggling to make a positive impression on customers. Differentiating on price and product innovation is becoming increasingly difficult, and firms face the added complications of changing customer preferences and increasingly stringent regulations.” This is per The World Retail Banking Report 2011 – published by European Financial Management and Marketing Association (EFMA), the Italian bank UniCredit and Capgemini. The report stated that “delivering a positive customer experience is one of the few levers banks can use to stand out in today's market.” Other approaches that banks have relied on in the past to differentiate themselves – low prices and innovative products in particular – are losing their ability to provide an edge.
When new delivery channels were created to complement branches – first ATMs, then telephone banking, online banking, self-service kiosks and mobile banking – many believed that branches were in terminal decline around the world. Four or five years ago that decline was largely halted, and in many cases reversed, as banks realized the value of face-to-face contact and a high profile brand presence. Today, the typical delivery model is cross-channel. All channels are valued, and used as part of an integrated distribution strategy.
Even though customers regard quality of service as the most important aspect of their banking experience, they also value relevant, competitively priced and innovative products, and effective delivery channels. The challenge for banks, therefore, is to keep abreast of developments in these two areas. Learn more.
Get the latest insights from customers and consumer research:
- Youth Research Partners: Young Banking Consumers’ Attitudes
- The National Australia Bank, NAB, brand transforms with a new way to do business
- Jackson Hewitt provides just-in-time knowledge
Interested in building lifelong loyalty with an exceptional experience for financial services, Click now.
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