Voice of the (Social)Customer:

1. Voice of the (Social)Customer: Listen and Then Act

2. Voice of the (Social) Customer

3. 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

4. Who is the Social Customer? Voice of the (Social) Customer

5. Voice of 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

6. Voice of the (Social) Customer • 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

7. Voice of the (Social) Customer • 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

8. Voice of the (Social) Customer • 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)

9. Voice of the (Social) Customer • 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)

10. Voice of the (Social) Customer • 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%)

11. Voice of the (Social) Customer Source: Brian Solis

12. Voice of the (Social) Customer • 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

14. Voice of The Customer Voice of the (Social) Customer

15. Voice of the (Social) 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

16. Voice of the (Social) Customer • 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

17. Voice of the (Social) Customer • 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?

18. Voice of the (Social) Customer • 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)

19. Voice of the (Social) Customer • 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%

20. Voice of the (Social) Customer Bad customer service can go viral

21. Voice of the (Social) Customer Great customer service & insight can create advocates – who can go viral

22. Voice of the (Social) Customer Social CRM: Companies Respond Voice of the (Social) Customer

23. Voice of the (Social) Customer It’s all built around the conversation...

24. Voice of the (Social) Customer VOLUME Need to look at the social network & social graph…. Tonality Frequency Network Influence

25. Voice of the (Social) Customer And at the level of the individual phone call…. Context DECIBELS Keywords/phrases Tempo Emotion Detection

26. Voice of the (Social) Customer What is common to both is that the customers are aggressively conversing

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

28. Voice of the (Social) Customer What does this picture tell you? I’m frustrated I’m asleep I’m dead

29. Voice of the (Social) Customer Visual (or verbal) cues provide information but, you still have to interpret & judge

30. Voice of the (Social) Customer • 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)

31. Voice of the (Social) Customer Looking at the Technology

32. Voice of the (Social) Customer “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)

33. Voice of the (Social) Customer • Technology • Text/sentiment analytics • Speech analytics • CCPM systems • Social media monitoring • AVR/IVR • Web Self-Service • CRM Integration

34. Voice of the (Social) Customer • Contact Center Performance Management • Key customer-driven components • First Call Resolution (FCR) • Root Cause Analysis • Next-Best Action • Customer Experience Analytics

35. Voice of the (Social) Customer • Speech Analytics • Word spotting • 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.

36. Voice of the (Social) Customer Key Speech Analytics Benefits re: Customers Source: Donna Fluss, DMG Consulting, March 2007

37. Voice of the (Social) Customer • 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

38. Voice of the (Social) Customer THANK YOU Author: CRM at the Speed of Light (4th Edition, November, 2009) President: The 56 Group, LLC Managing Partner/CCO: BPT Partners, EVP: National CRM Assn. Co-Chair: Rutgers CRM Research Center Named #1 CRM Influencer (Non Vendor) by InsideCRM 2007 Named #1 CRM Blogger 2005, twice in 2007 by TechTarget and InsideCRM & InsideCRM 2008 CRM Magazine 2008 Top Influencer PGreenblog: http://the56group.typepad.com CRM 2.0: The Conversation (ZDNET): http://blogs.zdnet.com/crm Email: paul-greenberg3@comcast.net Twitter: http://www.twitter.com/pgreenbe Cell phone: 703-551-2337