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Customer Advocacy:Strand Conference, London '14
Transcript of Customer Advocacy:Strand Conference, London '14
Traditional Means of Assessing Advocacy
Voice of Customer
Customer Service Questionaires
Loyalty vs Advocacy
Loyalty= Repeat Business
Advocacy = More Customers
Loyalty = Passive
Advocacy = Proactive
"Why CRM is yesterdays news and how customer advocacy and social media work in the B2B world."
The currency of both is called TRT
Match buyer personas with marketing materials and calculate the ROC
Create a mix of content and social media
CRM Practice Partner, CSC
m. 07730 840 519
"What can B2B businesses learn from B2C?"
"How do you design your customer engagement processes to focus on advocacy?"
Lead CRM & Digital Transformation Practice for CSC UK
20 years in CRM technology / consulting
Currere in adversis
c. 90k employees
c. US$15Bn revenue
ITO, BPO, GSI
15% of consumers use print, newspapers and magazines as their first go-to source*
71% use the internet, social media, friends and family as their first go-to source*
43% of consumers trust “people like them”*
70% of consumers trust independent experts*
74% of consumer purchasing decisions are affected by key influencers on social networking sites**
In the digital world there is no such thing as a relationship
Consumers are paving their own path to purchase
Brands are struggling to keep up
This is where traditional marketing can
Start with 1M customers
1% response (10k)
Cost is $1 per solicitation, or $1 million total
Each response generates $125 in LTV profit, or $1.25 million total
So each individual campaign is successful, with a $250,000 profit
Then with each campaign customer equity decreases by more than the “profit” harvested!
Suppose non-responders become just 0.5% less likely to respond with each solicitation
If message is not relevant customer may never open anything from us again. So there’s value in making sure message is useful, relevant, produces “Gosh, I didn’t know that!” reaction.
ROC helps us uncover this.
...more likely to be an advocate
Fix problems fast!
CSC, Customer Intimacy Barometer, 2013
What do different customers do differently with your product?
Can you save your customer time or effort by remembering some detail or specification?
What more does your customer have to do to get full use from your product/service?
Are there particular types of customers with complex problems or management issues?
What ancillary services do your customers need in conjunction with your product?
Turn your thinking upside down
B2B contacts are social too!
How do you map all this together?
Map your pathway to advocacy through experiences & data...
TRT is the currency that gets you to the table
Remember that business customers are social and emotional too
Your customers probably trust each other more than they trust you
Design customer engagements with advocacy in mind - think outside-in
Connected customers behave differently
Few to none critical inflexion points
Leave a significant (but distributed) digital footprint
Lasting customer advocacy can never be achieved without first creating employee advocacy.
Sounds challenging! What do I do?
e.g. Automotive customer journey
CSC Leading Edge Forum: http://lef.csc.com/assets/3822