Are You Prepared for the Next Generation of Customer Expectations?

Transcription

1 Are You Prepared for the Next Generation of Customer Expectations? Live-Tweet using #NextGenCX December 19, 2017

2 Today s Speakers Steve Griffiths EVP Virteva Steve.Griffiths@Virteva.com Shannon Gronemeyer CEO CCS Shannon@CCSdelivered.com Suzie Goan CCX Leader CCS suzie@ccsdelivered.com Are You Prepared for the Next Generation of Customer Expectations? 2

3 About the Sponsors Virteva delivers a full suite of as-aservice solutions for ServiceNow, Microsoft Cloud, and managed services. From deployment and adoption to management and support, Virteva s services enable its customers to drive success and deliver exceptional service to end users. CCS helps companies leverage customer feedback and experience strategy to prioritize high-value business process improvements. With understanding of the critical moments in the customer journey, CX leaders can drive improved customer experience, loyalty, and revenue growth. ServiceNow has a proven suite of enterprise cloud applications that replace unstructured work patterns of the past with intelligent workflows of the future. With CSM, CX leaders can connect customer service with other departments to identify and resolve issues faster, reduce costs, and increase satisfaction. 3

4 Agenda 1. Why Customer Experience Matters 2. How B2B Executives are Preparing 3. Where to Go From Here 4

5 Why Customer Experience Matters Profitability Leading research shows companies with a better customer experience are more profitable 2017 Temkin Experience Ratings of Tech Vendors Social Media, 24-hour information accessibility spreads good and bad experiences at a faster rate than ever before 5

6 Why Customer Experience Matters Costs of Failure 89% of customers stop doing business with an organization after a single bad experience 68% of millennials have left a brand due to a single poor customer service experience 67% of millennial consumers have higher customer service expectations today than just one year ago 6

7 Why Customer Experience Matters Two Driving Forces Behind CX Trends & Influences B2C to B2B B2C CX evolution influences B2B expectations Expectation change is accelerated by Millennials Millennials Workforce penetration and decision maker entrance Customer experience expectations 7

8 Why Customer Experience Matters Migration of Elevated B2C to B2B B2B buyers bring B2C expectations Desire to interact with vendors the same way they interact with consumer brands Internal technology must be equally as intuitive, interconnected and accessible Every technology use sets expectation for: Access to information Response time Seamless experiences Shouldn t I expect the same service when I spend $50M, as I do when I buy a $50 pair of shoes? Source: 2016 Salesforce Study 8

9 Why Customer Experience Matters Millennial Experience 1. Mobile 2. Effortless 3. Immediate 4. Seamless Omni-Channel / Ubiquitous Presence 5. Self Service & Crowd sources Customer Service 9

10 Why Customer Experience Matters Millennial Impact on Workforce $65B a yr. in purchasing power $1 Trillion influenced in consumer spend 1/3 of current American workforce growing to 75% by % involved In B2B Decision-Making Much higher CX expectations, and less tolerance for CX failures Accelerating the B2C influence on B2B expectations 10

11 B2C Expectations B2B Affect Why Customer Experience Matters B2C & B2B, Shifting Expectations 64% of consumers expect companies to interact with them without delay 72% of consumers expect companies to understand their unique needs and expectations 80% of business customers expect companies to interact with them in real time 89% of business customers say they expect companies to understand their unique needs and expectations 11 Sources: 2016 Salesforce study 2017 McKinsey study

12 Agenda How B2B Executives are Preparing 3. 12

13 How B2B Executives are Preparing Customer Research Shows Inconsistent Approach Source: Temkin Group 2017 Source: McKinsey

14 How B2B Executives are Preparing By Acting on the Experience Gap Improving the B2B customer experience from average to exceptional can lead to a 30-50% increase in KPIs such as: Likelihood to renew Purchasing another product Source: McKinsey

15 How B2B Executives are Preparing Three Effective Strategies Outside In Perspective Focus on defining the end to end buyer journey vs individual interactions Focus on Human Element Increase Digital Capabilities The tangible attributes of a product or service have far less influence on consumer preference than the total experience associated with that product or service. Dr. Gerald Zaltman, Professor Emeritus, Harvard s Mind of the Market Lab B2B CX Leaders don t view customer service and experience as a separate, final phase of the lifecycle. They design journeys that combine product and well managed experiences throughout to drive growth. Managing the B2B Customer Experience Strategy, Accenture

16 How B2B Executives are Preparing Three Effective Strategies Outside In Perspective Focus on Human Element Increase Digital Capabilities Focus on the human element of B2B opportunities Biggest factors for 145 C-suite executives before making a major technology purchase: The importance of working with an honest vendor 93% Purchases based on personal recommendations 91% Perception of a strong brand 73% B2B CX Leaders invest twice as much as their peers in offline capabilities such as contact center training and field service training with process optimization. Managing B2B Customer Experience Strategy, Accenture 2017 From Promotion to Emotion: Connecting B2B Customers to Brands *CEB Marketing Leadership Council (2013) 16

17 How B2B Executives are Preparing Three Effective Strategies Outside In Perspective Focus on Human Element Increase Digital Capabilities Focus on Digital Capabilities The emerging battle in B2B will be fought on the smart combining of digital and non-digital transformation to improve customer experiences based on truly understanding customer needs Source: Finding the right digital balance in B2B customer experience, McKinsey April 2017 B2B companies with the highest returns on their customer experience investments have the highest confidence in digital impact and show it through bold, strategic moves Source: Managing B2B Customer Experience Strategy Accenture

18 Agenda Where to Go From Here 18

19 Define Your Organization s CX Maturity 1 No discernable processes Undefined agent roles Little documentation No formalized tools Poor, ad-hoc communication Unpredictable results 2 Best efforts, firefighting approach to CX Single points of failure (people, processes) Siloed automation and processes Basic / Minimal documentation Few effective tools 3 Standardized CX procedures Self-service options Routinely collect structured customer feedback Formal agent training programs KPIs set, measured, and analyzed 4 Centralized, automated, standardized process Proactive monitoring Root cause / continuous improvement Shared decision making and accountability Established CX and service level goals Workforce and capacity planning 5 Highly consistent customer-facing interactions Cases assigned and resolved across departments Effective knowledge sharing Detailed CX reporting at product/bu level Partner and vendor CX and process integration Front-office to backoffice connectivity 6 Strong internal linkages: engineering, finance, IT, QA, etc. Integrated business and CX planning Self-service automation and selflearning Predictable case volume and disposition CX and business metric alignment Quantifiable CX business impact Chaotic Reactive Proactive Managed Service Driven Value Driven 19

20 Make Customer Experience a Team Sport The Old Way: Reactive: responding to tickets, putting out fires every day Disparate systems of record with data not easily shared across the organization Challenges in getting the right people involved at the right time Limited ability to focus on individual customers The New Way: Proactive: addressing problems at the source to prevent future issues Integrated service across departments: CS, IT, finance, quality, engineering, etc. Automated workflows that get the right people involved right away Root causes of customer issues are treated, not just the symptoms 20

21 Where to Go from Here? Use Customer Feedback to Drive Change Listen Start by Listening to your customers to identify key feedback and trends affecting your performance Understand Enhance your Understanding of how your customers feedback impacts their overall customer journey Design Next, Design the experiences your customers want, will use, are willing to pay for, and will talk about to other potential customers Implement Finally, Implement the changes necessary to transform the Customer Experience you provide 21

22 Workshop: Get Started Down the Path to Next Generation CX A structured approach to defining a CX-excellence plan Customer feedback collection, utilization, closed-loop processes Use of technology and systems to provide customer service What we ll accomplish together: Identify goals, requirements, and primary objectives for your CX team Conduct interviews and review existing CX data to assess your current state Resource training, specializations and management procedures Process standardization and root cause analysis Inter-department and 3 rd party CX integration Data management, KPI and reporting capabilities Identify strengths, weaknesses, gaps and suggested next steps Provide a detailed report to drive action and improvement 22

23 Q&A Session Steve Griffiths EVP Virteva Shannon Gronemeyer CEO CCS Suzie Goan CCX Leader CCS Click Here to Learn About the CX Workshop 23

24 Thank You! 24