- Warm transfer
- Call barging
- Whisper coaching
- Voice & video call conferencing
In a digital era, CX is centric to buying influence, the experience that the customer expects is some magic to happen. By definition, there is the novelty in a startup product or service. For example, The search engine of Google or connectivity of FaceBook or visual impact of Instagram is to what is happening now and all pointing to an experience a customer never felt before. The experience is to create a wow where the user also participates and develops on a given platform. Thousands of miracles are happening today because of technology. The User Experience is based upon harnessing the ever-evolving technology of algorithms of user behaviour. The way a platform is developed, the manner in which it generates a traction and the discovery of new possibilities like for ex. Instant translation simulating human intelligence, broad networking, new ideas of connectivity – with people, with information, with machine thinking do form part of myriad possibilities. The miracle is just not fulfilling a customer expectation, but providing him with a bounty in the form of unexpected. The platform educates the user on what he wants and gives him an unexpected experience that ignites excitement and prods him to know more of the product and use it more and more and also invite others to participate in his new experience like Facebook which becomes infectious. The experience becomes exponential, resulting in add-ons to the product. The function of an incubation centre as the term implies is to validate or invalidate an idea and to take it forward, to give it shape, content and generate traction. Simplicity and efficiency are the key drivers to CX.
The Enterprise Incubation Lab (EIL) is a strategic program of CRMIT which is focused on enhancing target organization’s capabilities by leveraging high-end engineering talent and best-in-class infrastructure available at CRMIT. The key message from EIL is “Building the right CX products the right way”.
A quick look at the Importance of CX from industry leaders
Customer Experience is at the top of every business’ priority list. It concerns the CEO to the CMO and even the CIO. Emerging technology, changing consumer needs and effective use of customer data are critical elements to ensuring your CX Strategy is as powerful as possible in a competitive and digital landscape. Gartner Customer Experience & Technologies Summit 24-25th May 2018.
“We see our customers as invited guests to a party, and we are the hosts” – Customer experience is not a new idea — however, the proliferation of ‘digital’ and abundance of choice has empowered customers more than ever before. Selecting (and dismissing) brands is effortless; these decisions are often made without even a glimmer of a second thought. Today there’s a huge difference between merely servicing customers and ensuring an absolutely delightful experience at every turn… “Customer delight’ is the ultimate pursuit”.
(Jeff Bezos, CEO of Amazon).
“A 5% increase in customer retention can increase a company’s profitability by 75%”. Retention is a direct result of impeccable customer experience. Both are inherently linked and neither exists alone!
(Source: Bain & Company)
‘Customer Experience’ is the measure of a customer’s opinion and sentiment towards your brand and the value it provides based on the customer’s entire journey from first to the current touch point. When customers are rewarded with exceptional experiences, the effects on revenue and profitability are undisputed… “The revenue growth of CX leaders is 5.1x that of laggards”.
Customers highly value great customer experience.
- 86 % of buyers will pay more for a better customer experience
- By 2020 customer experience will overtake price and product as the key brand differentiator
(Source: Walker Study)
CX Trends and buying influence
End-End experiences – Relishing the sheer joy customer feel each and every time they interact with a specific brand and its offerings.
Key Takeaway – Organization can dominate their market by offering dazzling end-to-end experiences, even when competitors may beat them on price and/or product
Proactive Engagement – Pre-empt what customers are thinking, prior to them spending time and energy reaching out to you. Their appreciation and loyalty will be boundless.
Personalization at Run Time – “81% of consumers want brands to get to know them and understand when to approach them (and when not to).”
On-Demand Service– By 2020, 85% of the customers will manage their relationship with an enterprise without interacting with Humans – Gartner.
“By 2020, 40% of commerce transactions will be enabled by cognitive/AI personal shoppers and conversational commerce.” – IDC
Connectivity & Integration – “70% of retail decision makers globally are ready to adopt IoT to improve customer experiences “– Zebra. Technology Trends Shaping Vision 2020
|Internet of Things||Machine Learning/Cognitive Computing||Tools & Automation|
|Gives Digital voice to people, process of things to improve the customer experience, enhance supply chain visibility and expand revenue opportunities||Analytics and predictive models to help users to personalize CX and enhance inventory demand, forecasting and visibility||Automation of packing and shipping orders, inventory tracking, checking in-store inventory levels and assisting customers in finding items|
|“By 2025, Internet of Things applications could have $11 trillion impacts.” – (Source: McKinsey)|
Augmented (AR) and Virtual Reality (VR)
AR can be defined as the integration of digital information with the user’s environment in real time. Some benefits of AR in CX world are
- AR educates the user with product information and pricing. For example in retail industry customers can scan products in the store to quickly identify which groceries meet their requirements for price and nutrition and access product suggestions.
- AR enables one to one personalization – Users can scan products in the store to quickly identify which groceries meet their requirements for price and nutrition and access product suggestions. AR drives customer satisfaction
Virtual Reality (VR) literally makes it possible to experience anything, anywhere, anytime. It is the most immersive type of reality technology and can convince the human brain that it is somewhere it is really not. Some benefits of VR are
- VR create the rich, immersive and interactive user experience
- Personalized content is tailored to user’s particular needs and adopted fast
- VR allows readers to truly connect with the published content
- It reduces language barriers
- Increase in Brand Awareness through social shares
- VR helps in decision making
- For the seller – detailed analytics is generated on user behaviour
Key takeaway – Cutting through any hype — VR and AR literally add new dimensions to the CX, strengthens the bonds and perception of the brand, benefits the customer and the seller.
Summary – Why EIL at CRMIT?
- To unlock business value through Digital Transformation Program (DTP) and to “Drive Customer Experience Transformation Program” across different Lines Of Business.
- EIL captures and spends effort on capturing the trends of CX world. This could be through customer feedback, Analyst reports and incubate those solutions to be market ready
- EIL works on 3 fundamentals in the field of customer experience –
1. Digital Foundation: Today’s CX works are all about “Faster” “Better” and “Impact”.
- Analytics plays an important role to guide real-time decisions, making 360 views of the customer comes in the forefront than ever before.
- Apart from analytics, content management, listening tools, visualization and one-one personalization are essential in creating a strong digital foundation.
2. Content Management & Content Strategy: For better customer experience, companies need to have appropriate data as the pivot of their content strategy. Placing data to map to all the various touch points along the customer journey is the key to any successful CX program
3. Cultural Alignment: At EIL, every member has been taught the principles of innovation as their culture. CX innovation is learning-based. The development methodology is more agile and iterative. The lifespan of the product today is 6 months from extinction, hence change in development methods, Go To Market criteria is a lot more challenging but is the need of the hour.
EIL understands that to deliver great customer experiences is no longer just a nice-to-have—it’s a competitive requirement.
As a modern marketer, you’ve probably spent ample time and effort in determining the right content and promotions to offer in multi-channel campaigns, along with the right times and cadence. With all the channels available to the marketers for creating awareness of a new/existing product or offers related to the product, email marketing still stands out as the most preferred channel in terms of the success rates (open rates, click through rates) that it generates. But while all the companies have been jumping on the email marketing bandwagon over the years, you would always like to know the key parameters that might help revolutionize your email marketing with better ROI. Also, you would like to explore how artificial intelligence(AI) and machine learning can be leveraged to create personalized email campaigns.
Key Parameters for a better Email
Most of the digital marketers are well aware of the key factors that would motivate a prospect to open an Email. The factors are like date and time of emails-delivered, the frequency of updating the target Segments & recipient lists, the subject line of emails, the call-to-action (CTA) and the email body. These are the data points that may be useful to the Marketer to generate curiosity to open and click emails. It eventually helps a marketer to generate better ROI and business revenue.
The Next level of Email Marketing- Artificial Intelligence and Machine Learning
Artificial intelligence and machine learning can help in creating a virtual simulation of email subscribers and predict impressions, clicks and conversion rates. AI and ML platforms enable usage of natural language processing technology to predict and recommend subject lines, email bodies and call-to-actions. This predictive personalization capability can also be used to recommend personalized images based on how customers have reacted to similar images previously. This AI technology enables you to learn more quickly what combination of keywords will perform best in the form of a ‘word cloud’, graph and stimulation curves. It will also alleviate a lot of the time for you and your team spend working on A/B testing and allow you to expand to greater variations of testing elements.
Some common yet unavoidable recommendations
In the initial stage of the learning process, the program can predict some recommendations which can help you to make changes in your current marketing program –
• Appropriate keywords used in the subject line sets the right expectations on the relevance of the email content, creating a better open rate
• Information on needs and demands of the target customer segments help in the usage of right keywords. Punctuations like Exclamation (!), Ellipsis (…), question mark (?)in the subject line might just trigger the right emotions and connect more with the human senses
• Mentioning the name of the recipient can trigger better open rates compared to the normal subject line
• Short and attractive subject lines are more fruitful than lengthier ones
• The number of days in the week, which days in the week the emails are sent are factors which help in ensuring the email gets delivered at the right time and gets the attention from recipients
With Predictive Lead Managment, you can make may such recommendations with deeper insights which will eventually help your organization to grow the business and generate more revenue from email marketing.
Salesforce World Tour 2018 took Sydney by storm on March 6 at the International Convention Centre. The event was jam-packed with learnings, insights, product demos. This event attracted more than 11,000 attendees keen to see how customers, partners & trailblazers are leveraging their Salesforce Platform to create connected customer experiences, learn new skills, innovate at their companies, and shape the future.
Some of Australia’s and the world’s biggest brands shared their customer transformation stories, including AMP, Adidas, 21st Century Fox, DTA, Telstra, Volkswagen, Mercer and more.
The day exhibited some exciting new products, key problems businesses are having were addressed through Keynotes, breakouts and demos for sales, service, marketing, admin, IT and development.
CRMIT Solutions, as a proud sponsor of the event, discovered new opportunities and met Trailblazers community, inspiring leaders and pioneers from the industry. Team CRMIT attracted many visitors and showcased some enterprise grade research and innovation initiatives like Enterprise Incubation Lab, Cognitive Sales and Predictive Lead Management. While Salesforce is shaping the future with fourth industrial revolution, CRMIT is also adding value as a preferred customer success partner.
Here are 3 key takeaways complied from the event –
Einstein shares biggest pie
Einstein Analytics and its impressive ease of use and speed garnered loads of attention as a part of the fourth industrial revolution. myEinstein empowers users to build AI-powered apps with clicks, not code, automates the model building, predict lead scoring process with Prediction Builder and create bots. Using natural language processing, Einstein Bots can communicate with customers, freeing up customer service agents to focus on more complex inquiries. Recently Adidas have implemented the Einstein Bot on their website.
Digital Marketing transformed to intelligent marketing
According to Jon Suarez Davis, CSO, Marketing cloud, Salesforce is focusing on driving customer success with intelligent marketing instead of digital marketing. It starts with knowing everything about your customer integrating data from silos and peripheral systems and automate data enrichment. Followed by this an organization should also focus on engaging their customer at every stage of their journey. With Artificial Intelligence(AI) driven Journey Builder, you can deliver cross-channel personalized experiences, intelligent segmentation and track entire journey of your customer.
Strategic roadmap with Google
Salesforce partnered with Google to deliver smarter marketing and customer engagement. You will be able to seamlessly connect sales, marketing and advertising data across Salesforce Sales Cloud, Salesforce Marketing Cloud and Google Analytics 360. You can also surface powerful customer intelligence seamlessly between G Suite, Salesforce Lightning, Quip, Gmail, Hangouts Meet, Google Calendar, Drive, Docs and Sheets.
According to Salesforce, 59% of the organizations lacking connections with the fourth industrial revolution. Salesforce envisioned to achieve an incredible opportunity which is going to impact $859B GDP globally and $29B GDP in Australia. Salesforce also buzzing the hive with latest innovations including myTrailhead, myEinstein, mySalesforce, myLightning and myIOT.
In a few weeks, the International Convention Center in Sydney will be home to the Salesforce World Tour. If you’re a customer of Salesforce, or just interested in the latest trends and technologies, the World Tour is the place to be.
Salesforce events have always been viewed as one of the most innovative events. The events have always had inspiring keynote speakers, bringing you the latest trends and innovations. As a visitor, you are in for an inspirational day in which you will be inspired to try new ideas and learn about the latest trends and innovations in technology. As an organization, you are in for a treat when you present yourself at the Salesforce World Tour. You will meet a lot of peer customers and the inspiration and information you and your colleagues receive will help you improve your business.
At CRMIT, we love to be on top of the latest innovations as well. With a mission to help every organization achieve Customer Success, we like to learn more about common data issues to cognitive data solutions to help you. Besides just improving our own knowledge and skills, we come to learn more about the customer experiences that often challenge your business. We would, therefore, love to tell you more about how our solutions can help you create a delightful customer experience in your entire Salesforce organization.
We will be attending the Salesforce World Tour at Booth S28. This means you can find our booth at the Customer Success Expo. Please come visit us, we would love to get to know you. Count yourself in.
Customers have changed, products have changed, the way they interact with the products have changed, then why should the service desk be the same? It is time Legacy service desks move and give way to Modern Service Desk solutions.
First Time Resolutions:
Earlier, customers being able to connect to companies on their preferred channel itself was a big challenge. Legacy service desk solutions tried to solve this important problem by giving a unified platform where the service desk people could see incoming requests from various channels. This means, the customer can continue to interact with the company in multiple channels and their experience would remain the same.
Modern help desk solutions move beyond the ability to connect multiple times with the same experience, they instead strive for the first-time resolution. If a customer had to call you more than once to resolve their problem, the satisfaction rating is already downhill. So, don’t miss the first time they are speaking to you in any channel; make sure you do everything required to resolve their problem.
- What should the customer do, to get his issue addressed?
Legacy service desks assumed a lot of effort to come from the customer side. Be it explaining the issue or categorizing it in the right problem area, they had to make sure the problem is recorded perfectly, which maximizes the chances of getting their issue resolved quickly and completely.
Modern service desks believe customer effort should be minimal if not zero. Can the system understand the issue from the short description of the customer? Can it read the image of the problematic product to determine what could’ve gone wrong? Can it tag the support case to relevant category automatically? How can we make sure the customer does minimal work, yet sees that his issue is resolved?
- Why ‘minimal work’? What about ‘Zero work’?
That’s where modern solutions such as IoT (Internet of Things) are helping. Today it is possible for a connected product to know when it has a problem and it can report automatically, without any intervention of the customer. For example, a chip in your washing machine can watch it for problems and create a service case when there is any. This brings down the customer effort drastically and surprises them with amazing service.
Traditionally, Emails and phone calls were considered as the primary means of reporting a problem. Most of the legacy service desks are pre-integrated with popular Email Solutions and Computer Telephony Integration systems are used to connect voice calls to the respective service agent.
Today, the same two channels continue to serve many customers, but many other modern channels have emerged. For example, Chats, Video Support, Web Self Service and Mobile.
Each one of these channels is having different advantages. For example, Video Support may be extremely useful in fixing certain types of issues. Web Self Service can educate the customer and avoid the need to create a service case. All these help in improving customer satisfaction and reducing service cost.
However, a modern service desk should provide a tight integration with these systems. This involves a strong journey mapping and technical capability to connect.
If customers know enough, they can fix the problems themselves. That’s the aim of the knowledge base, presented via various channels such as the web, mobile and voice.
However, a typical knowledge base has hundreds of articles, if not thousands. Customers may not be interested in going through all of them to find a fix to their problem.
This is where Contextual Knowledge makes a big difference. Use the information you already know about the customer (Example: model they have purchased) to only show them relevant content. Also, use the problem description to push the right kind of knowledge articles.
Also, present your knowledge articles in the right media. Certain information can be conveyed using text, while certain other details can easily reach the customer with pictures, videos. People prefer to consume these content instead of long paragraphs.
Feedbacks and Surveys:
While the customer is interacting with you, collect feedback (implicit and explicit) on a constant basis and use it to improve the support. This can be done by the feedback module of modern service desks.
Use multiple channels to collect feedback and remember the customer effort. For example, a single click feedback is much better than a form with four fields in it.
When you do so much to improve the experience of the customers, what about the agents? What can you do to help them do their job better, which in turn translates to even better customer experience?
Modern Service Desk solutions come up with features such as Agent Scripts which help in resolving known problems quickly. The consistent approach in analyzing a problem results in a complete understanding and better fixes.
Similarly, look for other process automation possibilities in your service desk implementation. Anything that would remove the routine tasks from the agent and helps him/her to focus on the solution. For example, if a problem is already fixed with a solution article, it can be automatically shown to the agent while he/she is reviewing the problem description.
Agent’s performance can be continuously monitored by their manager for suggesting improvements. This also helps in case of escalation, as the manager would have a good understanding of the problem and address it better.
In addition to regular monitoring of agent performance, modern service desks provide a complete business intelligence module which helps in analyzing various patterns to get actionable insights. Both historic and predictive reports are used to improve service efficiency.
You can even beam some of these reports back to your customer. For example, if 62% of your mobile app users see their issue resolved in the first call, why not tell it to the customers and encourage them to go mobile?
Today’s customers spend a lot of time on Social Media. Hence, it is becoming an important channel to speak to them or hear from them.
Modern Service Desks come with strong social integration which help in listening to conversations, understanding issues in advance (even before they are reported) and getting back to the customer proactively. This has to be done in such a way that the privacy norms are respected and no sensitive information is shared with the public.
From the legacy world of waiting for the customer to complain, to the modern way of fixing the problem by going to the customer, service desks have come a long way. Modern lifestyle keeps raising the expectations and these service desks help organizations in meeting those expectations successfully.
From the moment a lead lands in the CRM system, till it gets converted to dollars, there is an interesting (and sometimes long) cycle. Different players get involved, with different motivations, which have the potential to make it a very inefficient process.
However, this can be addressed by understanding various inefficiencies that can come up, and by having a clear strategy to overcome them. The best news, a smart CRM system will help you automate this so that everyone who creates a lead or a quote or an order adds value to it, instead of pulling it down.
Here are the eight inefficiencies that are typically found in this business process and how your CRM solution and its add-ons can be used to solve them by a process.
1. Improper Lead Scoring
Not all leads are equal. Each business has a different way of determining which leads are important and which leads are not. This intelligence has to be embedded in the system so that your energy is spent only on the right leads.
All the modern CRMs have very good lead scoring mechanisms that you can use. Understand them, align them to your business, try them on existing leads, confirm that the scores are in line with what you would’ve done manually and start using the model.
What if the model is not perfect yet?
No worries. These lead scoring systems can learn on their own. Just keep providing real-time feedback and the model will mature soon.
2. Incomplete Configuration Information
The days of off-the-shelf products are gone; this is the age of smart customers who want to configure every product they use. With the number of features that are configurable, there are a practically unlimited number of combinations that are orderable. Customers like this flexibility of having a product made exactly as per their interest.
But, this adds additional load on the sales person. Capturing all the specific information about a product and making sure that the quote is in line with those configurations is a huge task. Even a tiny error in this can cause a huge dissatisfaction and hit your margins.
All the modern CRMs come with their own configuration modules to handle this. You can use these modules to accurately capture what your customer wanted. The system will ensure the pricing is right and the customer would get exactly what they wanted.
3. Wrong combinations
Sometimes, you just have too many products in your catalog. However experienced you may be, mistakes do happen and a customer ends up having a wrong combination of products which results in serious dissatisfaction and higher costs in replacing the wrong combination.
Use Product rules in your CRM to efficiently recommend the right product combinations every time. This will also help you handle your upselling and cross-selling efficiently, bringing a positive change in your sales numbers.
4. Inflexible discount models
Flat discounts, tiered discounts, order-wide discount, every sales rep can handle easily. What about account-wide discounts? What about special offers? What about buy-this-get-that-in-a-discount offers?
All these (and more) are doable in your CRM’s pricing manager extension. Today’s systems are smart enough to provide you various ways to control the pricing, which provides flexibility and control. Use these to make sure your products are priced right every time.
5. Too long (or too little) approvals
Your customer needs a product urgently; you created a quote matching his needs, he is ready to sign it; but, it is sitting in your manager’s inbox who is vacationing in Hawaii.
On the flip side, some of your quotes which should’ve gone for an approval have reached the customers automatically. Think about this happening (randomly) for multiple quotes throughout the day; a real nightmare.
All these issues can be resolved by using the right set of approval rules on your CRM. This should be transparent and clear; most important, the system should know clearly when the approval cycle is completed and the quote can reach the customer. This ensures there is minimal training required and your sales people can start creating quotes with confidence.
6. Missing (or wrong) terms and conditions
Every quote comes with a set of terms and conditions, which are not a matter of simple copy and paste. Depending on the products being quoted, depending on the customer, their location, and various other factors, these terms would change. It is a difficult task for a sales person to decide on this.
But then, why should they make that decision? Isn’t it the legal department’s job? Shouldn’t it be as easy as click and go, for the sales person?
Yes, all these are possible with modern CPQ systems which come with your CRM. They allow you to control (by word) what goes inside your quote to ensure your interest is always protected.
7. Inefficient signing and document management
Sending a quote by email, getting a signature, filing it and keeping it for future reference… these are so old school. These are the days of electronic signatures which provide an easy and secure signing option for your quotes, contracts and other important documents.
Look at your CRM and find out what integrations it provides with industry standard E-signature platforms. Set them up and make sure all your documents follow this process. It will save you lot of time (and it is good for the planet too!)
8. CRM and ERP speaking two different languages
When you create an accurate quote, price it right, get it signed using the sophisticated platform and still end up having a customer dissatisfaction, the problem could be with your integrations: check if your CRM and ERP are speaking the same language. This will ensure your customer gets exactly what he wanted.
Design your integrations in such a way that the data flows in the right direction and there are right conflict resolution rules. Also provide visibility of one system in another, which provides a way to check and fix these manually.
Today’s cloud integration platforms provide you with an easy way to make sure the systems are always in sync. Utilise the right monitoring tool to look at problems and fix them accordingly.
Taking care of these efficiencies will give an immediate boost to your lead to quote to cash mechanism. Keep improving the model and the results will multifold.