Customers 2020 - Walker Information [PDF]

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20%. 40%. 60%. 80%. Text/SMS. Videoconferencing. Customer Councils/Advisory. Boards. Social Media. Online Community ... Corporate Web Site. In-person.
YEARS

TODAY • Who is your customer in 2020? • What will customers expect in 2020? • What must change? • Where do we go from here?

TODAY’S PRESENTERS MICHAEL GOOD Vice President, Strategic Accounts

@mikelgood

LESLIE PAGEL Vice President, Customer Experience

@lesliepagel

PATRICK GIBBONS Principal, Senior Vice President

@patgibbons

walkerinfo.com/webcast/c2020

PROMO CODE: “2020webcast”

WHO IS YOUR CUSTOMER IN 2020?

Customers will be more intelligent and informed

They will have more options and will not be locked in

The world is getting smaller with more and more people connected to each other.

Customers will dictate the experience

WHAT WILL CUSTOMERS EXPECT IN 2020?

A PERSONALIZED EXPERIENCE THERE WILL BE NO ROOM FOR STRANGERS

WHAT ACTIONS, INVESTMENTS WILL HAVE THE MOST IMPACT ON YOUR COMPANY?

62%

UNDERSTANDING INDIVIDUAL CUSTOMER CHARACTERISTICS

58%

SIMPLIFYING PRODUCTS AND PROCESSES

MORE THAN REAL TIME IMMEDIATE GRATIFICATION WILL NOT BE FAST ENOUGH

WHAT HAPPENED IN THE PAST

WHAT CUSTOMERS INTEND TO DO

83% 60% 41% 15% Today

2020

A Lot of Emphasis

Today

2020

A Lot of Emphasis

“We must be able to predict what the customer wants next. Today it is reactionary, after the fact.

In 2020, customers will expect firms to be ahead of them, knowing what they need before they themselves have shown the need.”

CUSTOMERS WILL EXPECT TO INTERACT ON THEIR TERMS

Likely to Use Often Today

Likely to Use Often in 2020 78%

E-mail

76%

Phone

54%

In-person

38%

Corporate Web Site

Corporate Web Site

55%

E-mail

54%

21%

Web Meetings

Customer Events/Conferences

21%

Videoconferencing

16% 13%

Social Media Customer Councils/Advisory Boards

63%

Social Media

Web Meetings

Online Community

69%

Online Community

49% 44%

Phone

39%

In-person

39% 35%

Text/SMS

10%

Videoconferencing

9%

Customer Events/Conferences

27%

Text/SMS

9%

Customer Councils/Advisory Boards

27%

0%

20%

40%

60%

80%

0%

20%

40%

60%

80%

WHAT MUST CHANGE?

HOW IMPORTANT ARE THE FOLLOWING TO YOUR BUSINESS STRATEGY – TODAY AND IN 2020? Average out of 100 points

43

50

37 20

EXPERIENCE PRODUCTS

TODAY

PRICE

34 16 EXPERIENCE PRODUCTS

2020

PRICE

COMPANIES MUST USE MORE INFORMATION TO ANTICIPATE NEEDS

COMPANIES MUST PROVIDE ACCESS TO ROBUST CUSTOMER INTELLIGENCE

HOW WILL THE DEMAND FOR CUSTOMER INTELLIGENCE CHANGE IN 2020?

96%

INCREASE

4%

STAY THE SAME

COMPANIES MUST ADAPT CUSTOMER LEADERSHIP ROLES STRATEGY TEAM ENGAGEMENT CREATOR CHIEF CUSTOMER CHAMPION DATA SCIENTIST

CUSTOMER INTELLIGENCE ADVOCATES

TOP ACCOUNT SUPPORT INFORMATION ARCHITECT

COMPANIES MUST SEE CUSTOMERS MORE HOLISTICALLY Product Usage Sentiment

Involvement Competitive Engagement

A CUSTOMER REVOLUTION IS TAKING PLACE SURVEY DESIGN

INFORMATION ARCHITECT

INFORMATION DELIVERY

ENTERPRISE ACCESSIBILITY

SPOKEN COMMITMENT

BEHAVIORAL COMMITMENT

REARVIEW MIRROR

PREDICTIVE AND PRESCRIPTIVE

RECOMMENDATIONS

ROI

WHERE DO WE GO FROM HERE?

ROADMAP TO 2020

2020 ROADMAP

• PLAN

• IMPLEMENT

• OPTIMIZE

YEARS

Q&A

MICHAEL GOOD Vice President, Strategic Accounts

LESLIE PAGEL

PATRICK GIBBONS

Vice President, Customer Experience

Principal, Senior Vice President

@mikelgood

@lesliepagel

@patgibbons

• Customers 2020 Report • Customers 2020 Roadmap

WRAP UP

• Customers 2020 workshops • Slides and recorded presentation • Your input

walkerinfo.com/webcast/c2020 PROMO CODE: “2020webcast”

UPCOMING EVENTS AMA WEBCAST: CUSTOMERS 2020 DATE: Friday, October 11 TIME: 1:00 pm Eastern time MORE INFO: walkerinfo.com/webcast/ama

WALKER INSIGHTS WEBCAST: B-TO-B JOURNEY MAPPING DATE: Thursday, November 14 TIME: 1:00 pm Eastern time MORE INFO: walkerinfo.com/webcast/jm

WALKER B-TO-B CX SUMMIT DATES: April 30-May 1 LOCATION: The Arizona Biltmore, Scottsdale, AZ MORE INFO: walkercxsummit.com