Smart Customers, Stupid Companies: The New World of Customer Experience | MCorp Consulting

Smart Customers, Stupid Companies | Visual Media 011 | May 12, 2011

Smart Customers,
Stupid Companies
Six reasons to re-think how businesses Presented at:
sell to and serve their customers Visual Media 011
Presented by:
Michael Hinshaw
May 12, 2011

10:47:23 Watched video attached to Pizza Box
10:48:31 Redeemed coupon for Paper Towels
10:48:59 Checked prices for Dog Food
10:49:07 Ordered Dog Food from another store
10:54:12 Started car
10:54:42 Proceeded west on Main Street
10:55:12 Stopped at House for Sale
10:57:13 Requested Listing Details
10:57:18 Viewed Listing Details
10:57:45 Viewed Video Tour
11:02:42 Requested access to house
11:02:49 Security status verified
11:03:32 Entered House for Sale
11:18:29 Texted husband
© 2011 MCorp Consulting, Michael Hinshaw and Bruce Kasanoff. All Rights Reserved 11:18:57 (Husband accessed online tour) Page 1


Today’s Presentation
 Context
 Introduction
 Six Disruptive Forces
 Act SMART
 Q&A

© 2011 MCorp Consulting, Michael Hinshaw and Bruce Kasanoff. All Rights Reserved Page 2


Context: Touchpoints
 How do you touch your customers?
 And how do they touch you?
Products
Promotion Static
Direct Mail
Collateral
Contracts

Sales
Call Center
Service
Word-of-Mouth
Brand Support
Customer
Experience
Human

Interactive Blogs
Email
Social Media
Websites
Products



Context: Lifecycle
When do you touch your customers?
And what happens when you do?

Awareness Knowledge Consideration Selection Satisfaction Loyalty Advocacy



 Context
 Introduction
 Act SMART
 Q&A



Customer’s are unhappier than ever.
Customer’s are unhappier than ever.
“Everyone knows that the contemporary
customer is mad as hell...”1

After a single bad experience,
82 percent will simply…
Leave.

1) http://www.newyorker.com/talk/financial/2010/09/06/100906ta_talk_surowiecki#ixzz1GmOMdLrr
2) 2010 Customer Experience Impact: North America 2010, RightNow Technologies and Harris Interactive;
1) 2010 Customer Experience Impact: North America 2010, RightNow Technologies and Harris Interactive;



But they – we all – are getting “smarter”
Welcome to your (and your company, and your client’s) new world

1) Time Magazine, December 2006



No manuals. No keyboards. No limits.



Where’s this all going?



“In most organizations,
change only comes in
two flavors: trivial and
traumatic.”
- Gary Hamel, Wall Street Journal, Sept. 29, 2009



Today, we are not discussing trivial changes



No BS. Actual exponential growth

10,000
Devices/Users (MM in Log Scale)

1,000

100

10

1
1MM+
Units

Source: Internet Trends 2010 by Morgan Stanley Research © Morgan Stanley http://www.slideshare.net/CMSummit/ms-internet-trends060710fina


The balance is shifting...

companies


But most established companies just don’t get it.
Six Industries with lowest-ranked customer experiences….

6. 5. 4.
Airlines Wireless PC
Service Manufacturers
Providers
3. 2. 1.
Internet TV Service Health
Service Providers Insurance
Providers Plans
Forrester Research, The Customer Experience Index 2001; Bottom 6 CxPi Scores Across 13 Industries; January, 2011



Stupid Company: “Fly the friendly skies…”?



Smart Company: “This is how to fly…”



 Context
 Introduction
 Act SMART
 Q&A



Disruptive Forces and Customer Experience

Cloud Services
Customer
2. Pervasive Memory Experience 5. Shifting Time
Advanced Analytics



1. Social influence
The ability to be credible and trustworthy in the midst
of constant interactions between customers, friends
and outside “experts.”



Social Influence: More, and more often
Global Time Spent: 11/06-12/09 Global Users: 11/06-12/09
250 900

Social Networking Users
800 Surpassed Email = 7/09
200
Global Minutes Per Month (B)

Social Networking Usage 700

Global Users (MM)
Surpassed Email = 11/07
150

600

100
500

50 Social Social
400
Networking Networking

Email Email
0 300

Source: Internet Trends 2010 by Morgan Stanley Research © Morgan Stanley http://www.slideshare.net/CMSummit/ms-internet-trends060710fina


Social Influence: Impact
 It’s going to get easier: for customers to share with
others their experiences with your company.
 It’s going to get harder: to interact with customers
without the - often simultaneous - influence of others.

“The networked market knows more than
companies do about their own products.
And whether the news is good or bad,
they tell everyone.”
- The Cluetrain Manifesto, 1999



2. Pervasive Memory
The ability to remember - and access instantly – individual
customer needs, preferences, activities and interactions.
(Hint: it's MORE than just remembering transactions).



Pervasive Memory: CRM could help. However…
Today, companies can remember everything about their
customers. But they usually don’t.
Customer Satisfaction vs. CRM Investments
Percent Millions of Dollars
8,000

7,000

6,000

5,000

4,000

3,000

2,000

1,000

0

Source: ACSI and Gartner Group


Pervasive Memory: Impact
 Memory is the basis of intelligent behavior.
 Memory of shared experiences… that’s what creates
bonds between people.
 What if companies could remember people as well as
people remember people?

( )==$
Those companies will be the ones that grow and thrive.



3. Remote Access
The ability to support on-the-fly exchange of information
between customer’s devices, corporate systems and others.



Remote Access: Growing Faster

Connected Devices Growth (US Only)

ATT
VZ
TMO
Sprint
Others

Subscriptions in 000s

Source: Chetan Sharma Consulting, © Chetan Sharma Consulting, 2010



Remote Access: Impact
 Remote access makes “sense and respond” business
processes possible.
 With instant access to your databases and to what
customers are doing this instant, you can provide
services never before possible.
 Said another way, it will be nearly impossible for firms
that lack remote access to their customers to compete
with those who have it.



Cool or not?
We propose to install microphones, motion detectors and
language recognition software in your home.
We can see you, hear you and identify who you are,
and what you’re doing.
But - we’ll use these devices to make your life easier, and to
provide entertainment services.
The cost to you? About $150.



1 million people said yes in just 10 days.



4. Digital Sensors
The ability to drive innovation through the use of
sensors embedded in nearly everything
(On, around and even IN you…!)

http://www.ece.uah.edu/~jovanov/whrms/figs/whrms_fig1.jpg



Digital Sensors: Impact
Just a few sensors make the iPhone cool. (Hard to imagine
it didn’t exist three years ago). And it's not just iPhones.
2009-2015 Market for MEMS & Sensors in Mobile Phones (M Units)
By Product Category, June 2010

Other emerging sensors (?)
Silicon microphones
Motion sensors
Market (M Unites)

RF Devices
Optical components

Source: Yole Developpment, November 2010 - MEMS Executive Congress


Digital Sensors: Impact
 Sensors were once confined to factories and industrial
equipment, but are now being embedded everywhere.
 They can measure many things including light, motion,
sound, temperature, position, magnetic fields, gravity,
humidity, vibration, pressure, and even a wide range of
biological states.
 Sensors open up incredible opportunities for innovation
(Like 366,554 Apps for Apple alone– and counting)



5. Shifting Time
The ability to let customers access content and services
whenever (and from wherever ) they wish.



Shifting Time: Impact
 Remember when everyone watched the same TV show at
the same time? Or when everyone did their banking
between 9 am and 3 pm?
No more.
 This time-shifting trend will continue to spread, and will
change the way both B2B and B2C customer service and
sales operate.
“I’m sorry, please call during normal office hours”
will be a phrase no business dares utter.



6. Physical Web
The ability to help your customers remotely link to, browse
and utilize the physical world like they do the Web.



Physical Web: Impact
 Add up all the points we’ve made so far, and it’s clear
we’ll be browsing the real world like we do the Web.
 Customers can “bookmark” their favorite picnic spot,
parking garage, retailers and more.
 Media firms are developing interactive games set in
the real world.

Keep track of real things (like your car) in the virtual world.


Physical Web: Opportunities
 Wiring the world is an exponentially larger opportunity
than the Web was.
 Opens up immense new service options, from education
to entertainment to healthcare to…
 Only limited by your imagination (and your speed…)
blagger.files.wordpress.com/2008/07/kearney-capabilities.jpg



Summary: The future gets here pretty fast…
Active Users (Millions)

Source: Facebook


Disruption is, well, disruptive.
But you’re not alone. Your competitors will gladly disrupt
your business for you…
Customization Think “sense The status Credibility Data
will become and respond” quo will will be will drive
routine; not “make change; challenged success;
and sell”; incessantly;
It will be Your company These Positive Lock it away,
harder to must be much changes WOM is your forget it, or
sell “mass more nimble, start at the lifeblood – ignore it at
produced” fast and edges of but criticism your peril.
products responsive. industries; will spread
and services. be prepared! faster.



 Context
 Introduction
 Act SMART
 Q&A



Act SMART: Catch up to (and keep up with) your customers

S M A R T
Segment Modularize Anticipate Reward Tailor
customers capabilities customer employees touchpoints
needs
…by needs, into the smallest possible groups.




S M A R T
needs
 Do you know what your customers really want and need?
 Is their a shared understanding of who your most
valuable customers are?
 Do you understand customer buying behaviors, value
potential, product affinities and lifestyle preferences?
 Is your customer data integrated and easily accessible,
or is it in silos?




S M A R T
needs
…to increase your flexibility and responsiveness.




S M A R T
needs
 Do you understand the common needs that all your
customers have? And the unique needs each segment has?
 Have you begun exploring “mass customization” as you
design and deliver products, services and experiences?
 Do you leverage customer feedback to design experiences?
 Do your product development and customer service teams
have “employee” or “entrepreneurial” mindsets?




S M A R T
needs
…by understanding the data surrounding your customers.




S M A R T
needs
 Do you encourage and act on customer feedback?
 What do you need to know to respond intelligently to
customer actions?
 Do you look at interactions from a customer perspective?
 Where can feedback (VoC, Sensors, CRM, CEM) help you
better understand customer needs – and provide better
customer experiences?




S M A R T
needs
…and give them tools to help your company act SMART.
Hiring Onboarding Rewards

Criteria Training Structured

Alignment Values Unstructured

Process Roles Recognition




S M A R T
needs
 Does your employee onboarding process help new hires
understand their role in serving customers?
 Are your reward structures in alignment with the needs
and desired actions of your most valuable customers?
 Have you (reasonably) empowered your employees to solve
customer problems, to improve customer experiences?
 Do you have a culture obsessed with finding and solving
customer problems?




S M A R T
needs
…to meet customer needs, and exceed expectations.




S M A R T
needs
 Can your customers get what they need from you…
whenever they want, and from wherever they are?
 Do you leverage tools like “product configurators” that
allow customers to customize your offerings?
 Have you considered “co-creation?”
 Do you have the right touchpoints, in the right places?
 Do touchpoints address desired functionality, and take
customer feelings (wants, needs, perceptions) into account?


Year-One Action Plan: Act SMART
 Next Week:
Examine areas that these technologies are already
impacting customer experience in your industry.
 Next 30 Days:
Inventory all your existing touchpoints – human, static and
interactive. Which are most critical? Who “owns” them?
 Next 90 Days:
Assemble a team, and outline a plan for moving forward;
Analyze opportunities for adding “intelligence” beyond
marketing and service
 Next 12 Months:
Integrate “intelligent touchpoints” to your transformation
roadmap; prioritize Quick-Wins to gain broader support.

© 2011 MCorp Consulting, Michael Hinshaw and Bruce Kasanoff. All Rights Reserved
2009 MCorp Consulting, All Rights Reserved Page 53


“The task is not so much to
see what no one yet has seen,
but to think what nobody yet
has thought about that
which everybody sees.”
- Arthur Schopenhauer, 1788-1860



Any questions?



MCorp Consulting, Inc.
1-866-526-2655
www.mcorpconsulting.com


Smart Customers, Stupid Companies: The New World of Customer Experience | MCorp Consulting

Smart Customers, Stupid Companies: The New World of Customer Experience | MCorp Consulting

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Smart Customers, Stupid Companies: The New World of Customer Experience | MCorp Consulting