Choosing The Right Customer Service Metrics Requires Alignment To Your Brand

Kate Leggett

There is no single metric against which to benchmark the performance of your customer service organization. It’s like flying a plane—you can’t do it by just looking at your altitude settings. This means that most organizations use a balanced scorecard approach, which includes a set of competing metrics that balance the cost of operations against satisfaction measures. For industries with strict policy regulations, like healthcare, insurance, or financial services, adherence to regulatory compliance is yet another metric that is added to the list.

The set of metrics that you choose also depends on your audience. Customer service managers need real-time, granular operational data. Yet your executive management team needs high-level data about key performance indicators (KPIs) that track outcomes of customer service programs.
 
So where should you begin when choosing metrics? It’s best to start by understanding the value proposition of your company. For example, do you compete on customer experience, where satisfaction measures are of primary importance, or do you compete on cost, where efficiency and productivity measures are most important?
 
Once you understand your value proposition, choose the high-level KPIs that support your company’s objectives. These metrics are the ones that you will report to executive management and include overall cost, revenue, compliance, and satisfaction scores. Next, choose the operational metrics for your organization that link to each of these KPIs and support your brand. For example, if you compete on cost, handle time and speed of answer will become your primary metrics. However, if you are focused on maximizing customer lifetime value, first contact resolution will rise to the top.
 
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Want To Learn How To Embrace, Lead, And Deliver Digital Disruption? Join Us This Fall

Kyle McNabb

Digital disruption is real and shows no signs of slowing down – our research shows that 1 billion consumers will utilize smartphones by 2016. Digital upstart companies are disrupting long-standing business models as documented by stories in the major business news outlets such as Fortune, Forbes, NBC Universal's business channel CNBC, and The Wall Street Journal. If your industry / company is not under siege yet, it’s safe to assume it will be.

Your challenge is to disrupt while avoiding the chaos that will ensue if you fail to adapt.

"When companies adopt technology, they do old things in new ways. When companies internalize technology, they find disruptive things to do." James L. McQuivey, Forrester Vice President & Principal Analyst

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Hey Developers, Make Your Mobile Apps Blazing Fast

Mike Gualtieri

It’s genetic. Humans want it faster. Evidence abounds: The Speedy Weeny microwave hot dog vending machine, Chuck Yeager’s sound barrier record, techno dance, and don’t forget the T-Mobile girl’s alter ego as a provocative motorcycle speed freak. Zoooom.

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The 2012 Financial Services Architecture Survey Has Started

Jost Hoppermann

When designing application infrastructure strategy, planning for the renewal of their application landscape, or assessing their overall strategic position, banks and other types of firms in financial services typically like to know the answer to the question: “What are the others doing?”

Source: November 8, 2010, “Financial Services Firms Again Seek To Renew Their Application Landscape” Forrester Report

It is time now to update the survey results: Forrester has just started surveying banks in North America, Europe, and further geographies about the current state of their application landscape, their key issues and concerns, and their plans for the future. At a high level, the survey is designed to answer the question: “What are others doing?” Phrased in a different way, it targets the question: “What are the key trends regarding the transformation of the application landscape in financial services in its multiple facets?”

To make this survey successful, Forrester needs your help. If you are working in financial services in any role that is related to financial services architecture and application delivery (including the more planning-and-strategy-oriented aspects of application delivery), please participate in Forrester’s Global Financial Services Architecture Survey 2012. Please contact Reedwan Iqbal (riqbal@forrester.co.uk) who will send you a link to the online survey.

Thanks a lot for your help,

Jost Hoppermann

The Revival Of Digital Asset Management

Stephen Powers

 

This is a guest post from Anjali Yakkundi, a Researcher at Forrester Research. It originally appeared on destinationCRM
 
By now, everyone knows that engaging and dynamic customer experiences are a key competitive advantage, and “business as usual” will no longer suffice to support these engaging digital experiences. Organizations that don’t embrace this customer-focused thinking will risk missing out on important opportunities and will lose strategic advantages.
 
From a technology standpoint, the key to success will be integrated, best-of-breed customer experience management (CXM) solutions. This includes technologies such as Web content management (WCM), CRM, eCommerce, digital asset management (DAM), site search, and Web analytics.
 
We recently completed an evaluation of the DAM market. DAM is a key process-based solution that focuses on managing rich media content (e.g., videos, images, graphics, and audio). Despite the well-documented importance of rich media in cross-channel customer experiences (consider the amount of video and images on the Web or in marketing content now versus just five years ago), DAM solutions have long been overshadowed by other CXM technologies. These solutions have traditionally been relegated to niche, rich-media-heavy industries such as media, publishing, and entertainment. But as more and more organizations understand the importance of a cross-channel rich-media strategy to improve customer experiences, DAM for customer experience is experiencing a revival in interest across verticals.
 
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What Is A Collaborative Content Hub For Customer Service?

Kate Leggett

Knowledge management for customer service has always been a difficult proposition. It’s not that knowledge management fails to work; it does its job well, as proven by the numerous case studies that show real ROI, as well as the maturity of vendor solutions. The historical difficulty with knowledge management is that many buyers and users don’t understand the difference between knowledge management and content management — and typically view knowledge management as a heavyweight solution that’s laborious to use.

Perhaps it’s time to lose the too loaded term knowledge management and focus on what it is that customer service agents need to do their job — to answer customer questions in a complete, accurate, and reproducible way. They need access to up-to-date content that is aligned with customer demand and which is created in a collaborative way. This content must also be available to call center agents, as well as agents dedicated to the email, chat, and social communication channels. A subset of this content must also be available to customers via a web self-service site. All these requirements translate into a collaborative content hub.

Here are the main capabilities that make up a collaborative content hub:

  • Easy content capture. You should be able to flag information from any source (email, discussion forum thread, social media interaction) and effortlessly kick it off to be included in your collaborative content hub.
  • Democracy. Everyone within an organization (and customers as well) should be able to recommend information to be included in the content hub.
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SAP Restocks Its Cloud-Zoo With Ariba

Holger Kisker

SAP Turns To Acquisitions For Cloud Innovations

Just three months after SAP acquired SuccessFactors, a cloud leader for human capital management solutions, for $3.4 billion, it has now announced the acquisition of Ariba, a cloud leader for eProcurement solutions, for another $4.3 billion. Now, $7.7 billion is a lot of money to spend in a short amount of time on two companies that hardly make any profit. But it’s all for the cloud, which means it’s for the future business opportunity in cloud computing services. So far, so good; SAP has invested and acquired quite a number of cloud companies over the past years: Frictionless, Clear Standards, Crossgate, etc. The difference in this most recent acquisition is the big overlap with existing solutions and internal R&D.

Following the first wave of cloud acquisitions, SAP was sitting amid a zoo of cloud solutions, all based on different platforms: ePurchasing, CRM-OnDemand, BI-OnDemand, Carbon Impact, ByDesign, Streamwork . . . They all used very different technology, resulting in big integration and scale challenges behind the scenes. The market welcomed with open arms SAP’s announcement 1.5 years ago that it would consolidate its cloud strategy on the new NetWeaver platform for both ABAP- and Java-based cloud solutions.

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Big Data Tragedy

Digital Customer Experiences: The Next Frontier For AD&D Pros

John R. Rymer

 

Forrester analysts Stephen Powers, Ron Rogowski, and I collaborated on this research.

Digital customer experience has become a key business differentiator, and application development and delivery (AD&D) leaders of front-office, web, mobile, and digital development must step up to support their firm's initiatives. A broad focus on digital customer experiences carries great risks for your firm: too much experimentation for not enough return; too much duplication and waste; and too little use of data to drive and measure business results. To overcome these risks, marketing, eBusiness, and AD&D pros must collaborate on a comprehensive strategy. Today, AD&D pros rarely help lead their firms' digital experience efforts; interactive marketing pros call the shots. Worse, interactive marketing pros see AD&D pros as obstacles to great results. To partner with marketing and business leaders in digital customer experience strategy, AD&D pros must transform their organizations, platforms, and processes. This research describes this opportunity for AD&D — and how to create an AD&D digital customer experience strategy that supports marketing and business counterparts, from vision to implementation to ongoing optimization.

Most firms still don't treat the design, creation, and execution of digital customer experiences as strategic but rather as a special category of marketing-led projects. Digital customer experience practices require a set of competencies that take tactical projects to the next level — requiring leaders of software development, web development and architecture, solution architecture, front-office applications, and project management offices (PMOs) to take on new obligations.

Even leading-edge consumer-brand companies struggle to get the full measure of benefits that a focus on the quality of digital experiences can provide:

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Application Development In The Cloud: Let’s Go Deep

John R. Rymer

 

Developers are driving cloud computing in new directions and toward deeper enterprise adoption. We see a new pragmatism in our research: Developers favoring collections of cloud-based application services rather than the comprehensive platforms labeled “PaaS.” Growing use of development services attached to SaaS offerings to speed delivery. And developers using cloud environments to respond to the opportunity of mobile apps.

We also see contradictions in our research. Why, for instance, do so many developers demand control of thread and memory management when cloud platforms can shield them from those details?

If we understand where developers are taking cloud computing, we’ll be able to plot better strategies to use cloud for the flexible and efficient application delivery business leaders expect. We talk with many hundreds of developers working in cloud computing environments every year, and so we’ve got a great view of the market. But it is time for us all to gain an even deeper understanding because things are changing.

So we’re reaching out to developers for the industry’s most comprehensive survey on cloud application development. We’ve put together a set of questions that will yield a clear picture of application development in the cloud today – the good, the bad, the ugly, the elegant. Which cloud environments developers use, and why. What kinds of applications they are delivering using cloud, and why. Which languages and application services they prefer, and why. How much code and which kinds of data they host in clouds, and why.

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