"Mediocrity is the new horrible in customer service." — Blair McHaney, President/CEO, Gold's Gym
Almost everyone knows that customers' expectations have
risen. But, after listening to two days of presentations at CRM Evolution, I
think it’s more accurate to say that customers' expectations have skyrocketed. Fortunately, most companies
have gotten the message and are taking their customer service to a higher level.
For those who've been hesitant to 'boldly go where their customer service
organization has not gone before,' take heart. I’ve got some statistics that
will encourage you to take those first few steps.
Why should I change?
By engaging customers online, ancestry.com achieved a 99.5% customer satisfaction score (CSAT) while improving retention and saving millions on greater efficiency, including a 38%-50% drop in inbound calls and emails.1
By empowering employees to delight customers, Gold’s Gym achieved
a 77.5% Net Promoter Score (NPS) and 22% customer churn rate. No small feat
when you consider the industry averages are 40% NPS and 45% churn.2
By adapting quickly to social media, brands like Verizon have benefited
from social community members spending 2.5x-10x more than average customers.3
‘The fierce urgency of now’ is upon us in customer service. You
can take your customer service to a higher level! To find out more, click here.
CRM Evolution Customer Service Experience Footnotes:
*Arvindh Balakrishnan, Vice President, CX and CRM Applications Business Group, Is Your Customer Service Modern? *Blair McHaney, President/CEO, Gold's Gym, Wire Your Organization with Customer Feedback *Becky Carroll, Associate Partner, Cloud Strategy and Solutions, IBM, The Power of Communities for Improving the Service Experience and Building Advocates
Alongside Facebook and Twitter, communities are becoming a valuable
alternative for customers to find answers to their support queries. Businesses
need to ensure that posts on these sites are accurate and consistent with information
available through other contact center channels. [Read More]
Most businesses focus their social media activities around
two goals: revenue generation from marketing activities and improving customer engagement
and satisfaction by responding to social queries. However, they should also be
using social data in real time to improve processes and agent performance.[Read More]
Social media has become a daily part of life for many. But
what is its purpose and why have we become so reliant on these tools? It hasn’t
replaced phone conversations, texts, emails or even real life meetings; rather
it has become a useful addition. On a simple level, it’s an ever evolving,
admittedly often infuriating, view into friends’ lives, a way to send messages,
show off, or digitally curate the way we want to be perceived.
More than 75% of consumers have complained on a social site after a poor customer experience. Yet, 70% of companies have little understanding of the social media conversations about their brand. To deliver upon your brand promise, retain customers, and increase their lifetime value, you must deliver great customer experiences across social, mobile, phone, and chat channels. Siloed channels produce poor customer experiences. Social channels must integrate with the people, processes, technology, and traditional channels used to satisfy customers.
The more effective a company’s social marketing, the greater the demand for effective social service. However, service is not a job for social marketers. It is a job for service specialists, focused on KPIs such as response time, first contact resolution, satisfaction, churn, retention, and customer lifetime value.
Most social-enabled contact centers are at the early adopter stage, attempting to “bolt on” social media as a side process. Many are experiencing inconsistent customer experiences, higher costs, and negligible return on investments. Service leaders should consider carefully how to integrate social channels with their current customer service and support people, processes, technology, and channels.
Here is one company realizing success: the pre-integrated Oracle RightNow Social Experience “empowers our contact center operations by enabling our agents to join customer conversations that are happening on social sites like Twitter and Facebook and integrate those conversations into our overall multichannel customer engagement processes.” — Lisa Larson, Drugstore.com
More and more power has shifted to the customer with the advent of
social media networks—beyond the direct control of the brand. Customers
today have so many resources available to them to share their
experiences about brands, both positive and negative—it’s astounding and
it can be difficult to sift through. Do you know what your customers are saying about your brand?
Join top brand marketers, agency executives, and social development
leaders for networking and sharing of best practices with industry
peers at the Oracle Social Summit, November 14–15, 2012, at the Wynn in Las Vegas, NV. At the Summit you will learn how:
Marketing Leaders are bringing key parts of their enterprise together with Social Relationship Management
Social Content & Community Managers implement best practices and share tips-of-the-trade for managing a brand's social presence
Social Agency & Marketing Developers stay ahead of new social technologies and development best practices
Speakers include David Kirkpatrick, founder and CEO of Techonomy
Media and author of The Facebook Effect; Reggie Bradford, Oracle Senior
Vice President; Matt Dickman, EVP of Social Business Innovation, Weber
Shandwick; Matt Thomson, VP of Business Development & Platform,
Klout; Lyndsay Iorio, Social Media & Communications Manager, NBC Sports Group; Teresa Caro, VP Social Marketing, Engauge; and many more.
Click here to learn more and register for this exciting social event!
Greetings from Oracle OpenWorld 2012. Today, we’re going to focus on Social Relationship Management at Oracle OpenWorld. Social networking is touching all businesses today.
Customers are speaking about your brand right now on social media sites. Your employees are speaking to one another on social media sites. In an Oracle survey, 40% of consumers factor in Facebook recommendations when making purchasing decisions. Despite the rise of social networking, 70% of marketers report having little understanding of social media conversations happening around their brand.
Oracle has invested in technologies that will help companies leverage social media technologies for their enterprise. Our suite of social products is collectively known as Social Relationship Management. Customers are using Social Relationship Management to get analytics to social media conversations around their brand, manage multiple social media channels while keeping their brand consistent, optimize internal workflows and processes, and create better customer relationships and experiences.
Q: What’s your current role and what career
path brought you here?
J.O.: I'm currently a partner and one of the
founding team members at Altimeter
Group. I'm currently the Research Director, as well as wear the hat
of Industry Analyst. Prior to joining Altimeter, I was an Industry Analyst at
Forrester covering Social Computing, and before that, deployed and managed the
social media program at Hitachi Data Systems in Santa Clara. Around that
time, I started a career blog called Web Strategy which focused on how
companies were using the web to connect with customers --and never looked back.
Q: As an industry analyst, what are you focused on
J.O.: There are three trends that I'm focused my
research on at this time: 1) The Dynamic Customer Journey:
Individuals (both b2c and b2b) are given so many options in their sources
of data, channels to choose from and screens to consume them on that we've
found that at each given touchpoint there are 75 potential permutations.
Companies that can map this, then deliver information to individuals when
they need it will have a competitive advantage and we want to find out who's
doing this. 2) One of the sub themes that supports this trend is Social
Performance. Yesterday's social web was disparate engagement of humans,
but the next phase will be data driven, and soon new technologies will emerge to
help all those that are consuming, publishing, and engaging on the social web
to be more efficient with their time through forms of automation. As you
might expect, this comes with upsides and downsides. 3) The Sentient
World is our research theme that looks out the furthest as the world around us
(even inanimate objects) become 'self aware' and are able to talk back to us
via digital devices and beyond. Big data, internet of things, mobile
devices will all be this next set.
Q: People cite that the line between work and life
is getting more and more blurred. Do you see your personal life influencing
your professional work?
J.O.: The lines between our work and personal lives
are dissolving, and this leads to a greater upside of being always connected
and have deeper relationships with those that are not. It also means a
downside of society expectations that we're always around and available for
colleagues, customers, and beyond. In the future, a balance will be
sought as we seek to achieve the goals of family, friends, work, and our own
personal desires. All of this is being ironically written at 430 am on a
Q: How can people keep up with what you’re
great question, thanks. There are a few sources of information to find
out, I'll lead with the first which is my blog at web-strategist.com. A few times a
week I'll publish my industry insights (hires, trends, forces, funding,
M&A, business needs) as well as on twitter where I'll point to all the news
that's fit to print @jowyang. As my research reports go live (we publish
them for all to read --called Open Research-- at no cost) they'll emerge on my
blog, or checkout the research tab to find out more now. http://www.web-strategist.com/blog/research/
Q: Recently, you’ve been working with us
here at Oracle on something exciting coming up later this week. What’s on the
J.O.: Absolutely! This coming Thursday,
September 13th, I’m doing a webcast with Oracle on “Managing Social Relationships for the
Enterprise”. This is going to be a great discussion with Reggie
Bradford, Senior Vice President of Product Development at Oracle and Christian
Finn, Senior Director of Product Management for Oracle WebCenter. I’m looking
forward to a great discussion around all those issues that so many companies
are struggling with these days as they realize how much social media is impacting their business. It’s changing the
way your customers and employees interact with your brand. Today it’s no longer
a matter of when to become a social-enabled enterprise, but how to become a
Q: You’ve been very actively pursued for
media interviews and conference and company speaking engagements – anything
you’d like to share to give us a sneak peak of what to expect on Thursday’s
J.O.: Below is a 15 minute video which encapsulates Altimeter’s themes on the Dynamic Customer Journey and the Sentient World.
I’m really proud to have taken an active role in the first ever LeWeb
outside of Paris. This one, which was featured in downtown London
across the street from Westminster Abbey was sold out. If you’ve not
heard of LeWeb, this is a global Internet conference hosted by Loic and Geraldine
Le Meur, a power couple that stem from Paris but are also living in
Silicon Valley, this is one of my favorite conferences to connect with
brands, technology innovators, investors and friends.
Altimeter was able to play a minor role in suggesting the theme for
the event “Faster Than Real Time” which stems off previous LeWebs that
focused on the “Real time web”. In this radical state, companies are
able to anticipate the needs of their customers by using data,
technology, and devices and deliver meaningful experiences before
customers even know they need it. I explore two of three of Altimeter’s research themes, the Dynamic Customer Journey, and the Sentient World in my speech, but due to time, did not focus on Adaptive Organization.
Oracle understands that the consumer is in control and as such,
brands must evolve and change to meet growing needs. In addition,
according to social media thought leader and Analyst from Altimeter
Group, Jeremiah Owyang,
companies now average 178 corporate-owned social media accounts. When
Oracle added leading social marketing, listening analytics and
development tools from Vitrue, Involver, and a social monitoring company to its Oracle’s Cloud Services Suite we went beyond providing a single set of tools. We developed an entire framework to include a comprehensive social relationship management suite to help companies move beyond the social enterprise and achieve the social-enabled enterprise.
The fundamental shift from transaction to engagement means that
enterprises need not only a social strategy, but should also ensure that
the information and data received from social initiatives flow back to
marketing, sales, support and service. Doing so enables companies to
deliver a proactive and compelling experience and provides analytics to
turn engagement into opportunity – and ultimately that opportunity into
On September 13, 2012,
I am delighted to sit down with Jeremiah to further the discussion
about how enterprises are addressing social media strategies and
In addition, we will be taking your questions after the webinar via Twitter (@Oracle, @ReggieBradford, @cfinn, @jowyang).
Use #oracle and #socbiz to submit questions and follow the
conversation. I look forward to speaking with you and answering your