4. Fourth
– The digital Revolution
Blurring the Physical and The
digital divide. Transforming our
personal – and business life at
high speed .
5. It used to be that companies
could thrive with a one-size-
fits-all, inside out approach to
customers.
6. Technology changed that,
shifting the power to
customers by giving
individuals a voice.
72% of all internet users are now active on social media.
47% of Americans say Facebook is their #1 influencer of purchases.
Twitter has 4.215 million monthly active users.
7. Between company beliefs
and customer experience
- a gap exists.
Technology can help you
close this gap.
Studies show there is a 72% delivery gap—between
how companies judge themselves on delivering a
superior value proposition (80% success) to their
customers and how their customers judge them (8%) .
Bain Customer-Led Growth diagnostic questionnaire
8. Today, people share more than
ever with those that they trust.
Not only do they want to be
delighted, they want an
effortless experience.
Each interaction is an
opportunity to delight, building
trust and gaining knowledge
86% of customers are willing to pay more for a better
customer experience.
9. Microsoft Confidential
From knowledge you
can develop insights
that enable you to
deliver experiences
adapted to each
customer
“We are shifting from a world in which we “know”
because we sampled a little and extrapolated a lot –
to a world in which we know.”
Juan Enriquez
Futurist
10. Personalize every
interaction – right
place, right time, right
message, right offer.
Some 74% of adult smartphone owners get directions
or other information based on their current location.
This works out to 45% of all adults.
Pew Internet Research
12. Find the hidden
patterns that enable
you to predict possible
behavior and refine
your approach.
According to Interbrand, in the Age of You, the
promise of big data is to enable brands to provide
more of what consumers need (even before they
know they need it) and, ideally, nothing that they
don't.
21. Surprise & Delight Stories
‘’Praise’’ & ‘’Like’’
CEO Sponsored
Social Collaboration
SELF SERVICE
22. Protect ‘’Metro’’ brand
Track valuable fans, competitors
Early warning on sentiments
Integrate into CRM dashboards, cases
Digital Engagement
SELF SERVICE
23. Drive Loyalty - No IVR – Relationships
Empower Agents - Single Desktop
Convenience & Choice
< Customer Effort
Digital Engagement
SELF SERVICE
24. Mini Portal - Hub for Procedures
Preference Search – Builds Top 5
“How To’s” - Complex > Steps
Expand to customers 2016 £0.05p
Digital Engagement
SELF SERVICE
28. “We determine whether something will be a blessing or a curse
by the way we choose to see it”
Kate Nowak
Digital transformation is not simply
about technology – It’s a business
strategy that requires business leaders to
re-envision existing business models.
3D printing, IOT, AI and big data
Roughly 250 years to get here.
When Graham Bell invented the phone, it took 75 years before there were 5 miljoen phones being used. The smartphone only needed one year to reach 50 miljoen users.
Companies used to thrive with a one-size-fits-all, approach to their customers. Think Mad Men. In the early days of advertising, messages did get to their audiences, but there was little data to show whether those messages were resonating. At that time, brands were powerful and their messages were delivered in a broad, inside-out context.
Technology is already transforming our personal lives with apps and services that are simple and intuitive, and deliver helpful assistance to improve our lives.
In contrast the apps and services we use to drive business process are often difficult to use, try and deploy. Some even make you pay extra for capabilities like visualization, workflow automation and predictive insights.
____________________________________________________________________
Stats source: http://www.jeffbullas.com/2014/01/17/20-social-media-facts-and-statistics-you-should-know-in-2014/
But between company beliefs and customer experience - a gap exists. According to studies by Bain there is a huge disparity– a delivery gap, between how companies judge themselves and how their customers judge them. Companies think they are successful at delivering on the value propositions 80% of the time, and yet their customers think they are only successful 8% of the time.
Now granted…there are many more challenges today when it comes to serving customers well. There are proliferating channels, more choices being served up by competitors, and higher customer expectations.
But part of the reason for this gap could be that the operational silos within companies make delivering a positive experience difficult--another gap if you will. It is imperative that companies understand their customer and deliver a seamless experience, which means they need to eliminate those operational silos.
We think technology can help you close this gap. Let’s explore how…
_______________________________________________________________________
Source: http://www.bain.com/bainweb/pdfs/cms/hotTopics/closingdeliverygap.pdf
Everyone is mobile, everyone is social, people trust opinions from their friends and peers more than they trust brands. And it’s easier than ever to switch to a competitor. It’s a whole new world where the customer has control. Having a deep understanding of customers and being able to create a compelling experience is critical to any company’s business strategy.
Each interaction is an opportunity to delight, building trust and gaining knowledge. We call this the trust / knowledge continuum. This is a very fragile relationship and needs to be protected and honored—if it is, customers will share more over time as they feel safe and served.
Here’s an example, we all have some app on our phone that when we open it, asks for our location information. Now the first time you open that thing, you might think—I’m not telling you where I am. SO you say no, right? But maybe after using that app a few times and actually finding it useful, you open it up and when they ask you think, ok—let’s see what you do with that… So as you develop trust, you gain knowledge that can help you serve your customer.
______________________________________________________________________________
Source: http://www.1to1media.com/weblog/2012/01/every_organization_and_company.html
And it is from this knowledge that you can develop insights that enable you to deliver experiences that are adapted to each customer. Face it, we are inundated with data—data from our customers and their interactions with us…sales….service, data from our marketing efforts, social data, sensor data and 3rd party data that can be overlaid…
Juan Enriquez, a noted futurist, really captured what this means when he said, “We are shifting from a world in which we “know” because we sampled a little and extrapolated a lot – to a world in which we know.”
There is an internet of intentions swirling around us that is rich with information that can be used to help us each time we interact with our customers – let’s look at how we can adapt our interactions…
We can personalize our interactions, make them proactive, even predictive. Let’s dive into personalization…
The ability to decipher the customer’s intent means experiences can be personalized in the moment of truth. For instance, think how impactful it could be to present relevant offers based on customer context—where they are, what they are doing, what channels they prefer. Here we see a customer walking into a retail store, when they come into proximity of the store, they get a discount offer on their mobile device. This offer happens to be for a product they were previously viewing as they were browsing the company’s website. Right place, right time, right message, right offer.
____________________________________________________________________________
Source: http://www.pewinternet.org/2013/09/12/location-based-services-2/
Now, let’s get proactive…
How much more effective could you be if you were able to be proactive? Imagine a smart assistant—perhaps we call her Cortana—who is able to look at your calendar and map your activities for the day. Sounds good, right? Now what if she were able to overlay marketing data – website visits, whitepaper downloads, add customer trends, and other data so that she could suggest additional stops at prospects who are showing a high propensity to buy. That is proactive!
What does being truly predictive look like? I think Interbrand stated it well when they predicted that in the current age that they are labeling the Age of You, the promise of big data is to enable brands to provide more of what consumers need even before they know they need it.
What does that mean for us? Imagine being able to look at product use patterns to identify a pattern in customer experience that leads to defection. Say you find that when ten things happen, you lose this customer—they turn off their service or go get the competitor’s product. Knowing that pattern is incredible insight. You could put together a campaign that triggers early in the process—maybe when just three of those ten predictors occur—so you end up not only retaining your customers, but better serving them with improved products or services before your customer ever even realizes there was a potential problem or that they were on a path to leave you. Being predictive puts you in the driver’s seat when it comes to delivering a great customer engagement.
________________________________________________________________________
Source: http://www.bestglobalbrands.com/2014/articles/from-distortion-to-cooperation/
In these examples, we can literally see the benefits of closing the gaps between operational silos. The patterns in sensor data inform the campaign creation, the marketing activities your customers engage in enable the salesperson to be proactive. It is the complete view of your customer from which you can develop the meaningful insights across silos.
If you had a separate cloud for sales, marketing, service and whatever else you do, you would end up giving your customers a disjointed experience which is where many companies are today. But if you truly want to deliver amazing customer experiences, you need business applications that harmonize marketing, sales and service efforts so that each moment of interaction can be seamless and consistent, no matter when it occurs throughout the customer lifecycle or how your customer engages. `This is where Microsoft Dynamics 365 comes in to play
Let’s take a look
Microsoft is unifying all its business applications. Breaking down the artificial silo’s of ERP and CRM and will deliver new purpose-built applications in the cloud.
What makes Dynamics 365 unique is that it harnesses the power of One Microsoft.
Deep integration between Dynamics 365 and Office 365 brings together the two worlds of business process and personal productivity. We surface familiar tools like Excel and Word within the context of business processes, significantly increasing productivity and decreasing context switching.
Power BI and Cortana Intelligence are natively embedded into Dynamics 365 business applications for predictive insights, prescriptive advice and actionable next steps. Additionally, Azure IoT brings device data to enable preemptive action in business functions like field service.
Businesses can also adapt and innovate in real-time with a common data model and an extensible business application platform, including PowerApps, Flow and Power BI Embedded.
We have also introduced Microsoft AppSource so business users to easily find and evaluate line of business SaaS applications from Microsoft and our partners, across Dynamics 365, Office 365, Cortana Intelligence and the Azure platform.
It sounds basic… but the fact is that the classic delineation between CRM and ERP has created a separation in data and processes. Dynamics 365 breaks down this separation, and our business platform strategy together with CIT and IOT is centered on enabling this to new levels.
Metro Bank is the only new High-Street Bank to open in the UK in the last 100 years.
And in the only 5 years that they’ve been in existence, Metro Bank has built-up a business of hundreds of thousands of customer accounts.
They’ve achieved this success because of their tremendous focus on customer satisfaction…and because of how they have empowered their employees to deliver this customer satisfaction.
They use the Microsoft Cloud heavily to achieve this – Dynamics, Office 365, Azure, and Power BI.
Each Metro Bank employee can use Dynamics to instantly see an end-to-end view of each customer that they engage with.
And they’ve optimized the business process within Metro Bank so that their employees can deliver customer value – fast.
A new customer walking into Metro Bank can open up a savings account in under 5 minutes.
In fact, Metro Bank will even print the credit cards and checks for the customer right then and there within the bank, so that the customer is entirely setup and satisfied by the time they walk out the door.
And Metro Bank employees then use Power BI and Cortana Intelligence to constantly get insights into their customer’s satisfaction and use the business process functionality of Dynamics to drive those data insights into intelligent action.
So I thought I would talk through an example with Metro bank. A customer I have been personally working with for the past 12 months…
In 1973, with the notion that you could strongly influence customer loyalty by providing great service, Vernon Hill founded the Commerce Bank. In the early 70s remember, bankers viewed branches as a cost center, and because of this, they were actively trying to keep their customers out of the branch. You may recall bank account promotions that benefitted customers if they did all their banking at an ATM, never actually using the services of the branch. Vernon’s approach was the exact opposite. He believed that the industry's reliance on machine banking had led to de-investment in bank branches, to the detriment of consumers who prioritized in-person service. In order to promote customer loyalty through service, they did things like:
had longer opening hours, including evenings and weekends; opening ten minutes earlier and later than advertised hours
removed glass from teller booths for a more open customer experience
had pet-friendly policies
had giveaways such as lollipops and dog biscuits
let customers use coin-counting machines for free
handed out pens in response to rival banks’ practice of chaining pens to desks
had a “Kill the stupid rule” program, whereby employees who suggested an alternative to a stupid rule were paid $50
and he awarded his staff if a nearby rival bank closed its branches.
And in the end, Commerce Bank was sold for $8.5 B. This story reinforces that customer centricity is really nothing new. In fact, you can read about this story in the CEO’s book – Fans, not customers where Vernon Hill reveals that the secret lies in not just satisfying customers but in amazing and delighting them. The challenge is that the stakes are different today and the way you orchestrate it is much more complex. He will get to see how those changes might impact his choices as he is now moving his paradigm to the UK—not exactly a bastion of customer service excellence where he has started Metro Bank -- Britain’s first new High Street bank in over 100 years. They offer banking focused on the customer through unparalleled levels of service and convenience. Indeed their new motto is “Love your bank at last!” As you might imagine, they have a unique, customer-focused retail business targeted at reinventing the rules of retail banking, making every effort to remove all ‘stupid bank rules’ from day to day services to offer simpler and more convenient banking to their customer.
Of course, Metro Bank, is doing some things differently – they are among the first banks to take their entire operation to the cloud and they have chosen Microsoft Dynamics CRM to help create his differentiated customer experience. Let’s hear more about the Metro Bank story from one of their employees who works every day to deliver great experiences. We’ve arranged for a Skype call to hear about the story in their own words….