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The Advocacy BluePrint: Building Innovative Experiences That Transform Customers Into Advocates
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Bill Hobbib
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Keynote presentation at Forrester Customer Experience Summit, June 18, 2015 in New York.
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The Advocacy BluePrint: Building Innovative Experiences That Transform Customers Into Advocates
1.
Copyright © 2015,
Oracle and/or its affiliates. All rights reserved. | The Advocacy BluePrint: Building Innovative Experiences That Transform Customers Into Advocates Bill Hobbib, VP Customer Experience bill.hobbib@oracle.com Linkedin: linkedin.com/in/billhobbib Oracle Confidential – Internal/Restricted/Highly Restricted
2.
Copyright © 2015,
Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted
3.
Copyright © 2015,
Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted 70% of Fortune 500 firms in 1990 are gone today, and 50% are gone since 2000 Very few retailers survive beyond a decade Iconic brands disappear
4.
Copyright © 2014
Oracle and/or its affiliates. All rights reserved. | The buyer is in control. (But you‘re often still marketing and sellingas if this wasn’t true.)
5.
Copyright © 2014,
Oracle and/or its affiliates. All rights reserved. | Today, Everyone Wants to be Customer-Centric. A Few Companies Actually Get It. “Companies were in control up until 2000. But now the customer is in the driver’s seat. If you embrace that, you will thrive. If not, then by 2020, you will not survive.” Oracle Confidential – Internal/Restricted/Highly Restricted 5 — Jamie Nordstrom
6.
Copyright © 2014,
Oracle and/or its affiliates. All rights reserved. | The Ultimate Reward: Advocate Customers Oracle Confidential – Internal/Restricted/Highly Restricted 6 They Spend More… Spend 2Xas much as regular customers And Stay Longer… 5X greater lifetime value But Most Companies Never Get There… of customers cite no relationship with a brand. — Harvard Business Review 77% Growth (indexed) Years 5 10 15 20 25 100 200 300 400 500 Loyalty Leader Average Net Promoter Relationship to Growth Source: Bain & Company: How is Net Promoter Score℠ related to growth? They Help You Grow Faster…
7.
Copyright © 2014,
Oracle and/or its affiliates. All rights reserved. | Revenue Upside Potential From Doing This Well $1.6 billion wireless service provider $1.4 billion airline $ 825 million credit card provider Source: Forrester, “The Business Impact Of Customer Experience” (March 2014) 11% higher hotel rate for 1-point swing in travel review rating 46% more revenue/room for 4+ hotel vs 3 rating $14,099 average lifetime value of loyal premium coffee chain customer $10,000+: lifetime NPV of loyal affluent retail banking customer Sources: Cornell University School of Hotel Administration, “The Impact of Social Media on Lodging Performance,” Kissmetrics, “Calculating Lifetime Value”, Bain “Customer Loyalty in Retail Banking
8.
Copyright © 2015,
Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted Yet Many Companies Still Fall Short. Why?... The Customer Experience is Broken. of customers have discontinued communication with a company because of irrelevant promotions and messages. — Blue Research 94% It’s Transactional of customers don’t receive a consistent experience across channels. — Accenture 78% It’s Fragmented 82% Departments Struggle to Bring Together Customer Data of enterprise marketers have no synchronized view of customer data. – Forrester
9.
Copyright © 2015,
Oracle and/or its affiliates. All rights reserved. | Time to Take a Different Approach Oracle Confidential – Internal/Restricted/Highly Restricted
10.
Copyright © 2014,
Oracle and/or its affiliates. All rights reserved. |Oracle Confidential – Internal/Restricted/Highly Restricted 10 Source: Corporate Visions
11.
Copyright © 2015,
Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted 11 Getting millions of consumers to engage with their brand Support 400 Social channels globally, with 500 people touching social daily around the globe to improve customer care, build GM’s brand, support corporate reputation. “Customers don’t care about our org chart—they just care about getting answers as quickly as possible. We can’t win doing this in individual silos—we need to look like one team, one GM…Being in social is not an option…ROI tough to measure in dynamic business…corollary to ROI is Cost of Ignoring.”
12.
Copyright © 2015,
Oracle and/or its affiliates. All rights reserved. | Interactive gaming company Delivering service where their customers are—within the game Oracle Confidential – Internal/Restricted/Highly Restricted 12 Customers access service directly from game. Company walks fine line between responding directly to game character, or determining issue is severe enough to respond to “Customer”. Service during product launch ramps from zero to millions of transactions.
13.
Copyright © 2015,
Oracle and/or its affiliates. All rights reserved. | Sports-branded clothing retailer Oracle Confidential – Internal/Restricted/Highly Restricted 13 Solve problem of separate sites/silos for online, mobile, in-store. Personalized customer experience based on vast number of variables (behavior, gender, geo location, purchase history). CSRs have real-time insight into customer lifetime value. Segment-specific emails, targeted landing pages, menu options, product recommendations.
14.
Copyright © 2015,
Oracle and/or its affiliates. All rights reserved. | Data storage systems company Oracle Confidential – Internal/Restricted/Highly Restricted 14 Storage appliances self-diagnose issues. When problem diagnosed, device captures all appropriate diagnostics, searches knowledge, automatically creates a case, routes to engineer. Engineer has all of the solutions – can just request permission from customer to apply Proactive service for data center storage appliances
15.
Copyright © 2014,
Oracle and/or its affiliates. All rights reserved. | Customer Advocacy Blueprint Oracle Confidential – Internal/Restricted/Highly Restricted
16.
Copyright © 2014,
Oracle and/or its affiliates. All rights reserved. | 10 Steps Toward Customer Advocacy Gain most complete view of customer & employee data, connect silos 16 Excel at individual interactions INSIDE OUTOUTSIDE IN Provide connected, personalized journeys and customer intimacy Engage customers via multiple channels Make it easy to do business with your company Proactively listen to voice of customer and include in innovation Rethink customer service metrics Involve and engage employees in all steps of the process Assess cross-org performance around engaging customers Institute cultural change around customer obsession
17.
Copyright © 2015,
Oracle and/or its affiliates. All rights reserved. | Oracle’s Viewpoint of Innovation Oracle Confidential – Internal/Restricted/Highly Restricted 17
18.
Copyright © 2014,
Oracle and/or its affiliates. All rights reserved. | Your customer’s journey could be like this… 18 2. Tailor my engagement based on all interactions 3. Personalize best offer for my budget and needs 4. Keep the transaction process simple 7. Anytime/anywhere customer care 8. Listen and share my experiences 1. Provide me with relevant and timely content and offers 5. Flawless and on time delivery 6. Personalize timely and relevant recommendations Attract & Nurture Engage & Close Support & Listen
19.
Copyright © 2014,
Oracle and/or its affiliates. All rights reserved. | 19 Oracle Customer Experience Suite Oracle Marketing Integrated Customer Experience Foundation Social Collaboration Mobile Integrations Oracle Sales Oracle CPQ Oracle Commerce Oracle Service Analytic KPIs Dashboards Predictive Analytics Oracle Social Industry Solutions The Complete Customer Experience Platform
20.
Copyright © 2014,
Oracle and/or its affiliates. All rights reserved. | EXPERIENCE MANAGEMENT REPORTINGSITE SEARCH & NAVIGATION RESPONSIVE DESIGN PREVIEW PROMOTIONS & RECOMMENDATIONS COMMERCE & PROMOTIONS CATALOG & PRODUCT MANAGEMENT CONTENT MANAGEMENT AGENT FACING TOOL Commerce Cloud All the commerce features you need to attract, convert, and retain customers. Reimagined for the Cloud
21.
Copyright © 2015,
Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal/Restricted/Highly Restricted 21 Excel at individual interactions Deliver connected, personalized journeys across all channels Connect cross-org processes & customer data, eliminate silos Implement cultural change around customer obsession OUTSIDE IN INSIDE OUT
22.
Copyright © 2014,
Oracle and/or its affiliates. All rights reserved. | Putting This Into Action How are you innovating and building your unique competitive advantage with customer experience? Oracle Confidential – Internal/Restricted/Highly Restricted 22 Understand what journeys drive revenue, loyalty and advocacy—and nail them!
23.
Copyright © 2014,
Oracle and/or its affiliates. All rights reserved. | Oracle OpenWorld 2015 – Registration Now Open • October 25-29, 2015, San Francisco, CA • Largest convergence of business and IT – Combining education, engagement, collaboration and experience on today’s hottest topics • 99.5% of attendees said Oracle OpenWorld delivers on their objectives • Early Bird rate available now through Aug. 16, 2015 Oracle Confidential – Internal/Restricted/Highly Restricted 23
24.
Copyright © 2015,
Oracle and/or its affiliates. All rights reserved. | Discussion/Questions Oracle Confidential – Internal/Restricted/Highly Restricted 24 Email: bill.hobbib@oracle.com Linkedin: linkedin.com/in/billhobbib Twitter: bhobbib
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