So day one of the Gartner CRM Conference 2011 behind us and day 2 well underway. What have we learnt so far?
Customer Experience Management is here to stay
Ed Thompson of Gartner highlighted a number of pieces of research covering the main drivers behind the increased focus by organisations on the customer experience. One that really stood out was a study byBrand Keys that found that only 21% of products and services had any points of differentiation that were meaningful to consumers. This is nearly 10% less than a benchmark study conducted in 2003. In an undifferentiated world, the customer experience is king.
Social and mobile are huge opportunities for delivering great customer experiences
Alongside some great examples of social initiatives (below) Gartner was predicting spend on social software would be more than $1 billion by the end of next year. Another stat that stuck in the mind was that 80% of businesses are losing revenue from not supporting web-based customer service on mobile. However the audience were pretty bullish about how quickly mobile is and will be adopted as channel over the next 3 years (more on that below as well).
Management of the customer experience is spread across multiple disciplines, departments and has numerous metrics.
Gartner highlighted 4 different customer experience themes – Customer Satisfaction / Loyalty & Advocacy / Brand & Reputation / Quality – and 4 different elements within each of these themes. That’s 16 different elements of the customer experience with 16 different metrics and very little integration or synchronisation of these metrics, according to Gartner. We think that joining up these metrics is key to managing, measuring and delivering a holistic customer experience and we know that some organisations are making good progress. We’re running a survey at the Adobe booth at the show to ask a wider audience, so if you’re there do take part. More on the results later in the week!
That CRM practitioners are a lot more bullish about how quickly CEM will develop than the Gartner analysts
Adobe’s Kevin Cochrane was on a customer experience panel with other sponsors after the Mark Raskino’s keynote introduction. The analysts had already provided predictions for progress against a number of different elements of the customer experience. The panel discussed and the audience voted on these predictions. A great example of the audience’s bullishness was a question about the percentage of sales, marketing and customer service processes on mobile by 2015. The analysts predicted 30%, the audience were at 60% along with the panel. Great to see the excitement in CEM and the potential of new tech at a practitioner level!
Companies that really understand the value of customer experience are embracing mobile, social and multi-channel
QR codes are beginning to take off in the UK, today we learnt that they’re huge in Japan where Gap is using them in store windows to enable consumers to sign up for promotions without even stepping inside the store. Something that it’s now doing in the US as well. Lufthansa’s www.myskystatus.com is a service that automatically updates a travelers Facebook and Twitter profiles with where they are, even if they’re flying with someone else. While www.thejohnnycashproject.com is just a great example of the power of social to create something really shared and very special.
Day 2 of the conference sees Adobe partner SQLI present some of the innovative projects we’ve been working on together across Europe – Delivering improved Customer Experience to enhance business value at 9.15am – and more from Jim Davies, Ray Valdes and Ed Thompson of Gartner. More details on the blog to follow soon.