Overcoming Changing Communications Behavior How businesses should respond in an age of rapid transformation June 2017 CCM/CX KEYNOTE Kaspar Roos, Founder & CEO
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Overcoming Changing Communications BehaviorHow businesses should respond in an age of rapid transformation
June 2017
CCM/CX KEYNOTE
Kaspar Roos, Founder & CEO
About Kaspar RoosConsultant / analyst in CCM/CX
2© Aspire, 2017
linkedin.com/in/kasparroos
@kasparroos
+44 79 619 30 752
2008• Director at InfoTrends• Managing worldwide CCM Advisory
Service
2015• Founder of Aspire• London-based CCM strategy firm
We help companies succeed in the fast-changing world of customer communications
Key Trends
3
Technology Continues to Accelerate
4© Aspire, 2017
Forcing companies to change fast
0
200
400
600
800
1000
1200
0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100 105 110
Number of Years To Reach 1 Billion Users
Smart Phones Internet Mobile Phones Television Telephone
1 BilllionUsers
1104922148
“Digital is the main
reason just over half of
the companies on the
Fortune 500 have
disappeared since the
year 2000”Pierre Nanterme – Accenture CEO
“Disruption happens gradually and then suddenly”
© Aspire, 2017
Hemingway (on bankruptcy)
Mobile + Voice + ChatBots
6© Aspire, 2017
Voice will be the platform of the future
As speech recognition accuracy goes from say 95% to 99%, all of us in the room will go from barely using it today to using it all the time. Most people underestimate the difference between 95% and 99% accuracy –99% is a game changer... ANDREW NG, CHIEF SCIENTIST AT BAIDU
Source: Mary Meeker, 2016
Broad Range of Applications
7© Aspire, 2017
Home automation, e-commerce, customer service
Pitney Bowes demoing its conversational UI technology, San Francisco, Feb. 2017
8
Messaging Networks Well Positioned for ImpactMessaging Networks now processing more than 60Bn messages a day
© Aspire, 2017
Leading CCM vendors starting to offer integration with Messaging Networks
Most popular Messaging App by Country (2016)
Source: SimilarWeb, 2016Forbes Article
9© Aspire, 2017
ChatBots – Driven by AI & Mobile Messaging
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Rapid increase in natural language processing (either typed or spoken)
• European Telecom Company
• Chat Bot for services optimization
• 82% of interactions could be automated
• Good conversions on new sales & upsell
Source: Accenture, 2017
Mobile Pay Is Coming… In the U.S. too
11© Aspire, 2017
Mobile Pay set for good growth
• UK has high adoption of contactless terminals – plus highly concentrated banking & retail sector
• All major mobile phone suppliers supporting NFC-type payments (ApplePay, SamsungPay, AndroidPay)
• Apple Pay has higher spending limit than contactless credit cards
• Tokenized transactions combined with geo-location insights allow payment services providers to create sophisticated security layers
2.2% of all UK card spend is now contactless
Wearables
12
Connecting Wearables with Payment Services
Source: kerv.com Source: bPay, Barclaycard
Ring Fob Wristband Sticker
Technology Acceleration Leads To Fragmentation
13© Aspire, 2017
Technology reduces entry barriers, increases competition, forces pricing down
Retail Energy Financial Services Insurance
• Rapid rise in fintech start-ups
o Peer-to-peer lending
o Peer-to-peer currency exchange
o Low-cost payment services
• Differentiation in channel and alignment with customer values (i.e. clean energy, SmartMetertechnology)
• Solar/off-grid generation
• New entrants
• New insurancetechentrants will shake up industry
o Peer-to-peer insurance
o AI-based underwriting
• Rise of online marketplaces leads to increase in product proliferation
• Declining store visits and spent time in shop leads to price pressure
InsuranceTech Is Coming…
14© Aspire, 2017
High Growth In InsuranceTech Start-Ups
Trov – mobile-based property & casualty insurance
Trov – How It Works (1/5)
15© Aspire, 2017
Trov – How It Works (2/5)
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Trov – How It Works (3/5)
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Trov – How It Works (4/5)
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Trov – How It Works (5/5)
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“Now, faced with a combination of
increased complexity and hyper-
specialization, we are at a point
where the desire for purposeful
engagement is becoming a major
issue.”
Klaus Schwab – founder & CEO of World Economic Forum
© Aspire, 2017
Communications Are Becoming Integrated
Customer journey: pre-purchase process Customer journey: post-purchase process Business objectives
Data-driven, personalised, multi-channel communications
Source: InfoTrends, 2015
Evaluate
Acquire Engage
Advocate
Find
Learn
Buy/Subscribe
Engage
Consume
Retain
© Aspire, 2017
Omni-Channel Requires Overarching StrategyEvery touch needs to add value
© Aspire, 2017
Customer Lifetime Value
Time
Lead Generation
Lead Nurturing
Conversion Offer
Welcome Kits
ProspectInactive
CustomerActive Customer Lost Customer
Customer Communications Interactions
Onboarding
Statements
Newsletter / Emails
Upsell / Cross Sell
Loyalty Offers
Reminders / Notifications
Renewal Offers
Lost Customer
Returned Customer
Contact CenterCalls
23
Marketers Are Getting More And More Interested In CCMBoth visible in Europe and the United States
© Aspire, 2017
“A few years ago I would only talk to the purchasing people, maybe 5 people max. I saw them again a few weeks ago, now they had 25 people in the room. Different departments, different needs. It’s customer service, marketing; purchasing is still there but not leading. They realize they need to find new ways of communicating.”(Sweden)
“Talking about CCM and CX creates a lot of pull from CXOs and CMOs. “(United States)
What Services Providers Are Saying….
“If you’d asked me 5 years ago, I would have said that CCM is very low on the priority list of a CMO. Now, we’re seeing a clear shift. If you talk today with a CMO about customer journey mapping, using the whole journey to build better conversations with your customers, you will definitely get their attention”(U.K.)
How to Respond
Counter The Threat…QuickenLoans pioneering instant mortgage approval forcing incumbents to respond
25© Aspire, 2017
Communicate According to Channels of ChoiceWay of least resistance; expect older generations to shift to Mobile, Social too
26© Aspire, 2017 Source: Mary Meeker, 2016
Turn New Legislation Into Business OpportunitiesGDPR is impacting privacy laws in Europe; will apply to U.S. multi-nationals too
27© Aspire, 2017
Source: IBM
Consent forms will (likely) change in 2018 Why not applying same concept to channel preferences?
Improve Customer Experience
28© Aspire, 2017
CX needs to be defined in terms of ease, effectiveness, and emotions
Ease Effectiveness Emotions
Easy to use interactions
Relevant & efficient interactions
Empathy in interactions
Based on Forrester’s 3E’s of Customer Engagement
Personalized Videos Great Tool For Better CXGreat case study from Geoffrey Insurance – mid-size UK insurance company
29Empathy Ease Effectiveness
Recommendations
30© Aspire, 2017
How to be prepared for new technologies and change?
1. Modernize your CCM
2. Enable People; Put customers AND employees in control
3. Get Visibility into the overall Customer Journey
Characteristics of a Modern CCM system
31© Aspire, 2017
Modern systems are data, logic, format, and channel agnostic
Data Agnostic
• Support any data format
Logic Agnostic
• Business logic separated from design• Content pulled from central location
Presentation Agnostic
• Define output by function: message, document, webpage
Channel Agnostic
• Optimize output by channel, i.e. phone, tablet, e-mail, etc.
Whatever new channel or technology emerges, modern systems allow you to adapt quickly and without disruption to the business
Become Digital First
32© Aspire, 2017
Digital-first has become an essential capability
By 2019 demand for digital-related services will account for more than 70% of all external services growth - IDC
Fast,easyHTML5manipulationforexperienceenrichment
DesignInterface
DesignStudio:ICP
EngageOne Digital Designer
Enabling Business Users to Own CommunicationsBusiness user enablement crucial in reducing cycle time and improving CX
33© Aspire, 2017
• Setup easy approval workflow processes, including mobile-based approving
• Ensure that business users are in control of content changes
• Drive simple content changes through online editors
• Integrate natively with salesforce or business core systems
EngageOne Interactive
Enabling Customers to Access Communications 24/7Customers want to be in control
34© Aspire, 2017
• Use self-service solutions to turn customers into long-lasting, profitable relationships
• Allow customers to access all of their customer communications
• Use interactive communications –either through personalized, interactive videos or by sending dynamic content
EngageOne Digital Self Service
Linking Communications With Customer JourneyCreating performance measures, data analytics, visualizations
35© Aspire, 2017
Pitney Bowes - Transforming for a Successful FuturePlease read my article on LinkedIn; PB is a safe bet for the future
36© Aspire, 2017
• Change in top management
• More streamlined software development process
• Betting on the right trends for the future
o CCM / CXo Data Analyticso Location Intelligenceo Identification Softwareo Retail / shipping softwareo Payment services
https://www.linkedin.com/pulse/latest-pitney-bowes-transformation-data-driven-future-kaspar-roos
Questions
Any Questions?
Thank You!
Tel. +44 1923 605 526
Mob. +44 79 619 30 752
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