Will You Be Customer Worthy in 2012 Detailed notes 6 of 6
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Part 6 of 6 parts (w/ detailed notes) North American Customer Management Show presentation by Michael R Hoffman, Author of Customer Worthy. Predictions and trends for 2012 - 2013 and how to prepare.
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Will You Be Customer Worthy in 2012 Detailed notes 6 of 6
- 1. Customer Worthy in 2012? (part 6) Part 6 of 6: Customer Experience Framework (CxC Matrix repeated) Algorithms for 2012 (algorithm wrapped in App wrapped in game 20 questions) Customer Experience Algorithm (predicts what customers will do, when….and what they will not do) 2012-13 Year of Customer Geniuses Feed Passion & Creativity in Structure Customer Worthy @ Each Touch
- 2. Continuous testing – failing fast – identifying genius is competitive advantage
- 3. Like 20 questions – which is now a free app – you can ‘guess’ what customers will/won’t do
- 4. The Customer Experience Algorithm predicts what customers will/will not do next at every contact
- 5. Passion: Contact Creativity & Choreography Creativity + Multi-Channel Execution
- 6. Identify and Recognize Geniuses
- 7. identify, promote and connect geniuses across your customer experience – internal & external
- 8. Be customer worthy at each contact
- 9. CUSTOMER WORTHY in 2012? 1. Local Local Local… Context 2. Apps – Free or Fee Nation – $.99 for your thoughts 3. Network of things – you are your devices 4. Data is the robot 5. Geniuses – They are everywhere - Find’em Recognize them 6. Fraud For Granted - Fugetaboutit 7. Real Fake, Fake Real - Fake intimacy at a massive scale 8. Memory loss, bad experiences “half life” – 9. Algorithms & alerts replace reporting
- 10. Thank you, Michael R Hoffman, Customer Worthy, NACCM 2011 Presentation Contact Michael R Hoffman at 908.542.1134 for more information
Notes de l'éditeur
- These frameworks, the background for our customers’ experiences, do not look like art, they do not look ‘friendly’ or easy – and frankly, most of the ‘artists’ do not need to see the entire matrix, the flow charts, the measures, it’s probably better that they don’t – but each cast member should know which pieces of the frame, which pieces under the area under their responsibility, they can change, which areas do they have control over to test and refine.This level of detailed framework is a foundation for innovation. I know it looks like the opposite – this example from the CxC Matrix in Customer Worthy looks anti-artist and anti-creative, but the intent is exactly the opposite. The CxC Matrix and similar frameworks, enable customer experience managers in marketing, sales, customer service, product development, purchasing, design, delivery – it allows them all to focus on the pieces of the experience that can be changed. It isolates the fundamental process requirement elements (think regulations, quality standards, functional limitations, legal limitations, company guidelines, system limitations) and exposes each of the experimental or test areas.Again, like the Amazon page, conceptually, the experimental and creative areas are exposed for unlimited – but measureable experimentation.Continuous testing and experimentation are competitive differentiators in 2012 and 2013 – The Amazon design like understanding will expand into other customer experience channels.
- An example of creativity and apps and context (use see it is possible to capture all these elements – and there’s measurement here too) is the game 20 questions - Does everyone know the game 20 questions?It goes like this, you come up with a person, place, thing really anything, and the game, in this case a computer algorithm, figures out what you picked. Doesn’t this sound like customer experience? Trying to figure out what is on your customer’s mind? Trying to figure out what customers really want? Trying to understand what a customer wants is a lot like playing twenty questions – so here is a free app – as an example of the next big thing for 2012-2013ALGORITHMS – applying algorithms or applied mathematical learning to every aspect of customer experience is an emerging best practice in 2012 2013
- The Amazon.com is examples I cited earlier exemplifies a algorithm rich customer experience – But as most of us have experienced, managing a web site seems much easier than managing retail brick and mortar or seems more controllable and predictable than managing a call center.But 2012 and 2013 will expand the use of algorithms into more and more customer contacts across the customer experience spectrum as companies and their partners map out the customer experience in ways similar to the CxC Matrix described in the book Customer Worthy.Advances in information technology planning and specifically business process management and business process automation have heightened awareness in the executive suite to the benefits achieved from scrutinizing and decompiling processes, including customer facing processes in order to automate and automatically monitor redesigned processes.New approaches to process design and automation enhancement enable processes to have embedded decisioning in addition to near time monitoring. Technologies that make these in stream processes transparent and editable also allow for embedded analytics – click to previous slide – and this slide – to be in continuous test and control mode. The result is a set of performance based algorithms that are constantly tuned to identify anomalies – or more simplistically, this algorithm plus framework concept enables continuous testing, experimentation and performance enhancement at each point of customer contact across the customer experience. Eventually, best practices will be captured and repurposed across businesses, perhaps by companies like IBM, Oracle, SAP or SAS or even by Consultants such as Accenture, Deloitte and PWC or advertising agencies – or even companies like Amdocs, or customer process optimization firms and boutiques could create customer optimization process components.
- All of these technical concepts and customer engineering frameworks have a very explicit payoff – they seek to minimize the operations expense in customer management while dramatically improving the customer experience. Imagine moving the cost out of call center activities and combining that savings with the increased revenue generated from repeat sales from delighted customers, plus the reduced acquisition cost per new customer - these numbers compound exponentially.The exercise of examining customer experience at this level of granularity also uncovers multiple additional revenue stream and yes, fee opportunities simply by monetizing each of the slots in each of the contacts, as is shown here.Again, looking at each of these slots in the customer’s context, quantifying the potential revenue and cost associated with each interaction and across the entire experience, changes the way companies evaluate opportunities and how we each assign value to different parts of our business.
- Along the customer experience process as we dissect customer experience during 2012 and 2013, there are many opportunities to identify the customer geniuses - both employees and actual customers that have assembled processes or rules that generate exceptional results.This is another benefit of dissecting and monitoring customer processes: recognizing the geniuses along the customer experience process – this is another source of competitive advantage, identifying and recognizing genius.
- Genius may be identified as an ad hoc note that is occasionally put into a customer package - once we identify that the note and the words on the note, were the single ingredient that differentiated an ordinary experience from an extra-ordinary experience.Genius may be found in a portion of a customer service script, or a seasonal greeting at the point of sale, or a way of phrasing a discrepancy letter sent to non-paying customers that yields exceptional collection results – Genius resides at multiple points along the customer experience spectrum – but because our first reaction to “customer experience” is that it is too soft a concept or too complex and chaotic a process or even system of processes to be managed, we should just let it fester and do the best we can at the lowest cost possible – companies have failed to monetize their true value – And companies true value is determined by their customers. Customer relationships are not reciprocal - Customers exist without companies and but companies do not exist without customers.And when do customers measure the value of the companies they choose to do business with? When will companies determine company value in 2012 and 2013?
- Customers will determine company value at each contact.The simple criteria for company success has not changed and will not change – companies must be customer worthy at each contact, each stage in the customer life cycle, or they will not earn the next stage in the customer life cycle – resulting in increased cost and underperformance.A company’s single objective should be to be customer worthy in each contact – and everyone at your company should understand this simple, simple goal. Be customer worthy in each contact, in each decision.
- And we can each be customer worthy by thinking like a customer in 2012 and 2013 – helping our company and all of our operations become customer sensitive and customer centric in the face of these 9 trends emerging and changing the way our companies, our customers, our markets and our competitors do business.I modified this presentation and incorporated the core concepts based on the presentations the prior two days. If you would like to go into more depth on the trends alluded to but not specifically covered, #6. Fraud for Granted, Fugetaboutit, the virtual world created through digitization is easily fooled, or should I say replicated as in “copy, paste – customer experience, search “you” and replace “NotU” #7 Real Fake, Fake Real – Fake Intimacy at a Massive Scale (important for marketing creative and dramatically improved customer service design scenarios) #8 Memory Loss, Bad Experiences – (a look at sentiment analysis and the diminishing impact of bad experiences over time. Customer’s are either more forgiving or more forgetful due to their busy schedules and the pace of business – but scorned and unhappy customers may ‘delete’ you from their network, their circle and internet of things. The cost of being ‘deleted’ is very expensive for certain customer types and you may not (should not) try to overcome the expense of re-admittance.#9 Algorithms & alerts replace reporting – It takes too long and is a waste of time to produce and review reports where the bulk of information says ‘everything is fine’ reporting needs to be replaced with alerts and triggers that identify and quantify significant risks or opportunities and highlight potential actions to take/not take / decisions to make/not make.Contact Michael Hoffman at mrh@customerworthy.com or call 908.542.1134 for more information
- Thank you for your investment attending “Will you be Customer Worthy in 2012?” My Thanks again to IRI and NACCM. Please complete comment cards. We have some time for questions and of course I will be around for the rest of the conference if you would like to chat.Once again, thank you for your time.Strive to be customer worthy in 2012.