CustomerThink Webinar: Disruptive Technologies vs. Customer Experience | MCorp Consulting

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Disruptive Technologies vs. Customer Experience: What You Must Do NOW to Prepare Six reasons to re-think how your business sells to and serves your customers. A CustomerThink Thought Leadership Webinar December 9, 2010; 10 to 11 a.m. Pacific Time© 2010 MCorp Consulting, All Rights Reserved Page 1

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Our Speakers Michael Hinshaw Managing Director, MCorp Consulting Bruce Kasanoff Managing Director, Now Possible© 2010 MCorp Consulting, All Rights Reserved Page 2

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Today’s Presentation  Introduction  Context: Its (Not) About You  Six Disruptive Forces  What You Can Do Today  Q&A© 2010 MCorp Consulting, All Rights Reserved Page 3

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 You want to improve Customer Experience. Where do you stand today? And what do you want to accomplish tomorrow? Today Tomorrow What What What What is… must be… should be… can be... And how To really To become To truly can we meet customer differentiate on improve it? customer centric? experience? needs?© 2010 MCorp Consulting, All Rights Reserved Page 4

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 MCorp’s perspective… To transform – not just improve –customer experience, you need to answer these questions: 1. What’s 2. What do happening in our customers our market really want that can and need impact us? from us? Wow. 3. What 4. Where can barriers do we we do better erect to keep than anyone our customers else in our from what they marketspace? want?© 2010 MCorp Consulting, All Rights Reserved Page 5

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Your Customers…. Don’t really care about you, your company, your products. They don’t care about your hours or locations. How well do you know your customers? They care about themselves. And they (usually) know what they want.© 2010 MCorp Consulting, All Rights Reserved Page 8

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Your Customers’ Lives… are Changing These changes impact what customers buy, when they buy, how much they pay, and what they expect of you. This 2 year-old easily manipulates the iPad interface, finding the program she wants and using it in seconds.© 2010 MCorp Consulting, All Rights Reserved Page 9

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Your Touchpoints… Need to Change, Too But first – do you know what all your touchpoints are?  Do you know which you control?  Can you rank them all Products by importance? Static Promotion Direct Mail Collateral  Do you have gaps? Contracts Sales  Do you have a plan for Call Center Service migrating from Static to Brand Word-of-Mouth Support Interactive? Customer Experience Human Interactive Blogs Email Social Media Websites Products© 2010 MCorp Consulting, All Rights Reserved Page 10

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Your Customer Relationship Lifecycle  You understand customer wants and needs at each stage.  And you know how well your touchpoints meet these needs, driving customers from one stage of your lifecycle to the next… Right…? Awareness Knowledge Consideration Selection Satisfaction Loyalty Advocacy Pre-Purchase Trial/Purchase Post-Purchase© 2010 MCorp Consulting, All Rights Reserved Page 11

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Poll: Where is your organization today? Which best describes your customer experience initiatives… 1. Need to fix whats broken today 2. Trying to better address customer needs 3. Focused on becoming more customer centric 4. Working to truly differentiate on experience 5. We’ve got it nailed Today Tomorrow What What What What is… must be… should be… can be... And how To really To become To truly can we meet customer differentiate on improve it? customer centric? experience? needs?© 2010 MCorp Consulting, All Rights Reserved Page 12

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 No BS. Actual Exponential Growth 10,000 Devices/Users (MM in Log Scale) 1,000 100 10 1 1MM+ UnitsSource: Internet Trends 2010 by Morgan Stanley Research © Morgan Stanley http://www.slideshare.net/CMSummit/ms-internet-trends060710fina© 2010 MCorp Consulting, All Rights Reserved Page 14

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Disruptive Forces and Customer Experience Cloud Services Customer 2. Pervasive Memory Experience 5. Shifting Time Advanced Analytics© 2010 MCorp Consulting, All Rights Reserved Page 15

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 1. Social Influence The ability to be credible and trustworthy in the midst of constant interactions between customers, friends and outside “experts.”© 2010 MCorp Consulting, All Rights Reserved Page 16

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 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 300Source: Internet Trends 2010 by Morgan Stanley Research © Morgan Stanley http://www.slideshare.net/CMSummit/ms-internet-trends060710fina© 2010 MCorp Consulting, All Rights Reserved Page 17

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 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© 2010 MCorp Consulting, All Rights Reserved Page 18

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 2. Pervasive Memory The ability to remember - and access instantly – individual customer needs, preferences, activities and interactions. (Hint: its MORE than just remembering transactions).© 2010 MCorp Consulting, All Rights Reserved Page 19

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 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 0Source: ACSI and Gartner Group© 2010 MCorp Consulting, All Rights Reserved Page 20

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 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.© 2010 MCorp Consulting, All Rights Reserved Page 21

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 3. Remote Access The ability to support on-the-fly exchange of information between customer’s devices, corporate systems and others.© 2010 MCorp Consulting, All Rights Reserved Page 22

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Remote Access: Growing Faster Connected Devices Growth (US Only) ATT VZ TMO Sprint Others Subscriptions in 000sSource: Chetan Sharma Consulting, © Chetan Sharma Consulting, 2010© 2010 MCorp Consulting, All Rights Reserved Page 23

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 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.© 2010 MCorp Consulting, All Rights Reserved Page 24

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Poll: Are you ready to leverage this technology? 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? Between $150 and $400. 1. I am interested 2. I am not interested© 2010 MCorp Consulting, All Rights Reserved Page 25

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 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© 2010 MCorp Consulting, All Rights Reserved Page 27

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Digital Sensors: Impact Just a few sensors make the iPhone cool. (Hard to imagine it didn’t exist three years ago). And its 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 componentsSource: Yole Developpment, November 2010 - MEMS Executive Congress© 2010 MCorp Consulting, All Rights Reserved Page 28

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 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 283,586 Apps – and counting)© 2010 MCorp Consulting, All Rights Reserved Page 29

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 5. Shifting Time The ability to let customers access content and services whenever (and from wherever ) they wish.© 2010 MCorp Consulting, All Rights Reserved Page 30

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 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.© 2010 MCorp Consulting, All Rights Reserved Page 31

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 6. Physical Web The ability to help your customers remotely link to, browse and utilize the physical world like they do the Web.© 2010 MCorp Consulting, All Rights Reserved Page 32

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 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.© 2010 MCorp Consulting, All Rights Reserved Page 33

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 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© 2010 MCorp Consulting, All Rights Reserved Page 34

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Summary: The future gets here pretty fast… Active Users (Millions)Source: Facebook© 2010 MCorp Consulting, All Rights Reserved Page 35

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 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.© 2010 MCorp Consulting, All Rights Reserved Page 36

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Think LESS. Learn from your E S S customers (and remember what they tell you)  Is your customer data integrated or in silos?  Is it easily and instantly accessible?  Do you know what your customers really want and need?  Do you encourage and act on customer feedback?© 2010 MCorp Consulting, All Rights Reserved Page 38

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Think LESS. Learn from your Eliminate S practices that S customers (and waste your remember what customer’s time, they tell you) money or effort  Is your customer  Do you look data integrated or at interactions in silos? from a customer perspective?  Is it easily and instantly  Do you have the accessible? right touchpoints, in the right  Do you know what places? your customers really want and  Do you view need? complaints as annoyances or  Do you encourage opportunities? and act on customer  Do you have a feedback? culture obsessed with finding and solving customer problems?© 2010 MCorp Consulting, All Rights Reserved Page 39

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Think LESS. Learn from your Eliminate Sense practices that the needs and S customers (and waste your actions of your remember what customer’s time, customer, and the they tell you) money or effort world around them  Is your customer  Do you look  When, where and data integrated or at interactions how can you make in silos? from a customer your “senses” perspective? more perceptive?  Is it easily and instantly  Do you have the  Where can sensors accessible? right touchpoints, provide better in the right places? customer  Do you know what experiences? your customers  Do you view really want and complaints as  What do you need need? annoyances or to know to respond opportunities? intelligently to  Do you encourage customer actions? and act on  Do you have a customer culture obsessed feedback? with finding and solving customer problems?© 2010 MCorp Consulting, All Rights Reserved Page 40

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Think LESS. Learn from your Eliminate Sense practices that the needs and Simplify your customer’s customers (and waste your actions of your life remember what customer’s time, customer, and the they tell you) money or effort world around them  Is your customer  Do you look  When, where and  Can your data integrated or at interactions how can you make customers get in silos? from a customer your “senses” what they need perspective? more perceptive? from you…  Is it easily and whenever they instantly  Do you have the  Where can sensors want, and from accessible? right touchpoints, provide better wherever they are? in the right places? customer  Do you know what experiences?  Do you go the your customers  Do you view extra mile so your really want and complaints as  What do you need customer doesn’t need? annoyances or to know to respond have to? opportunities? intelligently to  Do you encourage customer actions?  Is it easier for a and act on  Do you have a customer to be customer culture obsessed loyal than disloyal? feedback? with finding and solving customer problems?© 2010 MCorp Consulting, All Rights Reserved Page 41

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Year-One Action Plan: Think LESS.  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. 0© 2010 MCorp Consulting, All Rights Reserved 2009 MCorp Consulting, All Rights Reserved Page 42

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 “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© 2010 MCorp Consulting, All Rights Reserved Page 43

Disruptive Technologies vs. Customer Experience | CustomerThink | December 9, 2010 Let’s talk. Michael Hinshaw Direct: 1-415-526-2651 mhinshaw@mcorpconsulting.com Bruce Kasanoff Direct: 1-203-341-9448 bkasanoff@mcorpconsulting.com© 2010 MCorp Consulting, All Rights Reserved Page 44

CustomerThink Webinar: Disruptive Technologies vs. Customer Experience | MCorp Consulting

Michael Hinshaw, CEO McorpCX

CustomerThink Webinar: Disruptive Technologies vs. Customer Experience | MCorp Consulting