Improved Proactive Care, Mobile Self-Service Tools Can Increase Service Provider Net Promoter Scores
Amdocs, a provider of customer experience systems and services, announced the findings of a global consumer survey that explores the link between proactive care tools, customer satisfaction and call center traffic.
The survey revealed that the vast majority of customers would recommend their service provider to family and friends if they received relevant, proactive notifications from their provider and had simple self-service apps on their mobile device. Conducted by analyst firm Coleman Parkes, the survey found that in addition to helping to increase customer satisfaction, the measures could also decrease call center traffic.
Key survey findings include:
Proactive services and self-care can improve NPS: 84 percent of consumers said they would be more likely to recommend their service provider if the provider was able to identify and pre-emptively resolve potential issues affecting them; 83 percent said they would be more likely to recommend their provider if they were offered easy-to-use and consistent self-service via their mobile device
Consumers willing to embrace proactive care and self-service: 83 percent said they would follow proactive notification instructions, rather than call the contact center, to resolve issues affecting them individually; 76 percent would use a mobile app rather than call the contact center
Current proactive notifications and self-service tools ineffective and can increase call center traffic: 73 percent of consumers said proactive notifications at present were not useful; and 24 percent of all notifications resulted in a call to the contact center, adding to costs instead of reducing them. Of the consumers who use mobile self-service apps, 78 percent said they are hard to use
Lack of consistency, personalization in consumer interactions with service provider: 65 percent of consumers said their service provider does not know them and fails to provide a personalized service during interactions; only 17 percent said they receive a consistent response across channels from their service provider
Poor experience holds consumers back from mobile shopping: 72 percent of consumers have attempted to purchase a product or service online but 51 percent abandoned the purchase as it was too complicated; 79 percent said they would be more likely to complete an online purchase if they could switch between channels to continue transactions
PwC's 2013 Top 10 Technology Trends for Business Report Reveals the Emerging and Disruptive Technologies that are Reshaping Strategies, Business Model
In its 2013 Top 10 Technology Trends for Business report released today, PwC US reveals the most significant trends in technology that are reshaping strategies, business models, and enterprise investments this year. According to PwC, 10 significant trends will impact businesses this year:
1. Pervasive Computing: The ability to digitally engage and interact (via your mobile devices) with enabled objects around you
2. Cyber Security: Continues to be a pressing issue, as technology enabled processes increasingly underpin and fuel the global economy
3. Big Data Mining & Analysis: More than managing dizzying amounts of data faster and cheaper; it is about making better business decisions
4. Private Cloud: Due to security and regulatory concerns, larger enterprises have been primarily operating in a trial mode of private/hybrid clouds and this will change in 2013. Consumers of IT are demanding greater value from IT services
5. Enterprise Social Networking: Becoming a core tool for the new social workforce; the key insight for organizations succeeding in building value from this technology is social business processes redesign
6. Digital Delivery of Products & Services: Customers are driving companies of all shapes and sizes to develop new, technology-based ways of delivering value. Digital delivery of products and services can open tremendous new pathways for growth, but companies must shift their underlying business operations to support this new business model
7. Public Cloud Infrastructure: Cloud adoption will continue to mature with hybrid cloud architecture becoming the mainstay as companies of all sizes leverage public cloud services
8. Data Visualization: Leading edge companies will explore dynamic virtualization techniques and advanced display devices to navigate through multiple dimensions of data
9. Simulation & Scenario Modeling: Organizations are increasingly focusing on simulation models that enable executives to envision the potential impact of their choices before making investments
10. Gamification: With its combination of game mechanics, social networking, interactive media and behavioral analytics, gamification can transform a business
Businesses that Capitalize on Consumer Behavior Change are Better Positioned to Outperform Economic Growth, Finds Accenture
Global businesses that capitalize on major changes in consumer behavior can generate significant growth over the next few years, according to a new report from Accenture.
The report, entitled “Energizing Global Growth: Understanding the Changing Consumer,” concludes that companies able to capitalize on these changes with speed and agility could capture a portion of the trillions of dollars in growth that businesses globally are likely to see over the next few years as the result of changing consumer behaviors. Accenture estimates that just 20 sectors most associated with these changes are set to enjoy growth of US$2.4 trillion by 2016.
The report is based on four individual studies: an online survey of 10,000 consumers in 10 countries across five continents; a survey of 600 business executives in those same 10 countries; an assessment of the world’s top 3,000 listed companies by market capitalization and their revenue growth compared with the industry averages over various timeframes; and a macroeconomic analysis conducted in conjunction with Oxford Economics to assess the impact of changing consumer behavior.
Among the key changes in consumer behavior the report identified:
Consumers are increasingly "connected" – often online, interacting with companies and other consumers to research and purchase products, share advice, and praise or criticize a business. Nearly three-quarters (73 percent) of the consumers surveyed said they use the Internet to research or purchase products or services more than they did three years ago. Consumers are also increasingly using social media as a tool in the purchasing process.
Consumers are increasingly "demanding" – seeking products and services customized to meet their specific needs. Approximately two-thirds of consumers surveyed said that it is important to be able to buy what they want when they want it (68 percent) and to be able to customize the product or service to be exactly what they want (63 percent).
Consumers are increasingly "conscientious" – seeking sustainable goods and services, they are focused on where and how their products are made and on doing business with companies that make a positive social and/or environmental impact. Half (51 percent) of consumers surveyed said they consider the environmental impact of the product or manufacturer before purchasing a product more often than they did three years ago.
Accenture also found that while nearly three-quarters (73 percent) of business executives said that consumer behavior has changed markedly in the last three years, a similar proportion (74 percent) said they do not fully understand the consumer changes that are under way – and even more (80 percent) said they believe that their companies are not taking full advantage of the opportunities these changes present.
Recommendations for Capitalizing on Consumer Behavior Changes
The report makes recommendations on how companies can achieve growth and outperform competitors by effectively addressing changing consumer behavior, taking their lead from “growth leaders” in their industries:
Invest in advanced analytics tools – and the relevant workforce skills – to assess these changes and interpret consumer data. Armed with such data, companies will be better equipped to enhance the consumer experience with more-tailored customer service. For instance, the analytics program of a leading media-rental company enables it to recommend movie and TV titles based on an individual consumer’s preferences and rental history.
Have the strategic mindset to recognize and adapt to disruptive consumer change and competitive threats. A global car-rental company replicated the business model of new players offering hourly rentals. By meeting disruption head-on, the company has been able to use its scale and scope to reduce the threat of new competition while improving customer service.
Put in place "flexible" organizational models that enable the company to be more agile and act quickly. This might entail acquisitions, divestments or partnerships to complement existing capabilities. For instance, a US-based grocer understood at an early stage consumers’ growing emphasis on healthy living and carried out numerous mergers and acquisitions to become a global leader in natural foods.
Call Centers Find Social Media Best Used for 'Damage Control', See Overall Increase in Customer Satisfaction
In its annual Call Center Satisfaction Index (CCSI), CFI Group, a customer satisfaction measurement technology and analytics firm, reported that call centers are rapidly transforming into contact centers -- incorporating the Web, email, and other sources -- and that social media play an important role in raising customer satisfaction and likely recommendations.
For the sixth straight year, CFI Group has surveyed recent users of customer service functions to analyze the factors that impact satisfaction with call centers. The 2012 survey, involving more than 2,300 participants, found that "non-call" service methods, such as email, Web self-service, chat and other online techniques, now account for more than 30 percent of customer service engagements.
The survey revealed that Web self-service and email dominate the non-phone-call mix of contact channels, but social media are playing a critical role. That role is not as a first-line service channel but rather as a "damage control" mechanism. Customers who posted their experience with a contact center in social media and then received subsequent follow-up via social media concerning their experience rated their final satisfaction with the contact center experience nearly 20 percent higher than those who received no follow-up. Furthermore, consumers who ranked their likelihood to recommend the company in these cases increased by almost 15 percent.
As the way we communicate with each other continues to evolve, social media is quickly becoming the dominant force in customer buzz. In general, people shared their experience with others 47 percent of the time within the 2012 CCSI sample, up from 45 percent of the time in 2011. Of these people that shared, a full 91 percent of them used social media in some form to do their sharing. Facebook dominated the social media channels, representing 33 percent of the "sharing volume."
The 2012 study also addresses the practice of offshoring and its gradual decline. The 2012 CCSI study shows that 9 percent of call centers are offshoring, compared to its peak in 2008 at 15 percent. CFI Group found that while offshoring as a percentage is decreasing, satisfaction with offshore centers have grown by 20 percent.
Call centers of all types have resumed slow but steady improvements in satisfaction scores after a slight dip in 2011. Key drivers of satisfaction contributed across the board to this overall increase in satisfaction, to a score of 77 on a 100-point scale, with no single driver accounting for a disproportionate amount of the increase.
The most improved satisfaction index scores in 2012 compared to the previous year were for companies in banking, property and casualty insurance, and retail, each of which recovered from a decline in 2011. The only drop in satisfaction among the areas studied was a one-point dip in the personal computer sector.
Survey of More than 2,000 CIOs Shows Digital Technologies are Top Priorities in 2013
Enterprises realize on average only 43 percent of technology's business potential, according to a global survey of CIOs by Gartner, Inc.'s Executive Programs. That number has to grow for IT to remain relevant in an increasingly digital world.
The worldwide survey was conducted in the fourth quarter in 2012 and included 2,053 CIOs, representing more than $230 billion in CIO IT budgets and covering 36 industries in 41 countries. The Gartner Executive Programs report, "Hunting and Harvesting in a Digital World: The 2013 CIO Agenda," represents the world's most comprehensive examination of business priorities and CIO strategies.
Over the last 18 months, digital technologies — including mobile, analytics, big data, social and cloud — have reached a tipping point with business executives. Analysts said there is no choice but to increase technology's potential in the enterprise, and this means evolving IT's strategies, priorities and plans beyond tending to the usual concerns as CIOs expect their 2013 IT budgets to be essentially flat for the fifth straight year.
The survey showed that CIO IT budgets have been flat to negative ever since the dot-com bust of 2002. For 2013, CIO IT budgets are projected to be slightly down, with a weighted global average decline of 0.5 percent.
Digital technologies dominate CIO technology priorities for 2013. The top 10 global technology priorities revealed by the survey reflect a greater emphasis on externally oriented digital technologies, as opposed to traditional IT/operationally oriented systems.
CIOs see these technologies as disrupting business fundamentally over the next 10 years. When asked which digital technologies would be most disruptive, 70 percent of CIOs cited mobile technologies, followed by big data/analytics at 55 percent, social media at 54 percent and public cloud at 51 percent. The disruptiveness of each of these technologies is real, but CIOs see their greatest disruptive power coming in combination, rather than in isolation.
As needs and opportunities evolve, more CIOs will find themselves leading in areas outside of traditional IT. In addition to their tending role, they are starting to assume responsibility for hunting for digital opportunities and harvesting value. Sixty-seven percent of CIOs surveyed have significant leadership responsibilities outside of IT, with only 33 percent having no other such responsibilities. This situation contrasts sharply with 2008, when almost half of CIOs had no responsibilities outside of IT. Almost a fifth of CIOs now act as their enterprise's chief digital officer (CDO), leading digital commerce and channels. Although this nascent role varies in scope and style, it normally includes championing the digital vision for the business -- that is, ensuring that the business is evolving optimally in the new digital context.