Market Consolidation In The Customer Service Space - A Slew Of Companies That No Longer Exist

I know the customer service market is consolidating as it matures. I’ve been tracking the consolidation of the knowledge management, multichannel management and EFM space for a while. However, at no time has this consolidation been quantified as when I recently helped my colleague William Band update his maturity model of the CRM space, known as a Forrester TechRadar.

Have a look at this partial list of vendors that have been acquired or have merged with another entity:

Field Service:

  • Dexterra acquired by Antenna Software (2009)
  • Sybase iAnywhere acquired by SAP (2010)
  • Servigistics acquired by PTC (2012)
  • Syclo acquired by SAP (2012)

Enterprise listening platforms and community platforms:

  • Radian6 acquired by salesforce.com (2011)
  • Overtone acquired by KANA Software (2011)
  • Leverage Software acquired by Telligent (2011)
  • Collective Intellect acquired by Oracle (2012)
  • Cymfony acquired by Visible Technologies (2012)
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How To Build A Business Case For Customer Service Investments

We know that investing in customer service is good for business and can positively impact your revenue. However, building a business case for customer service investments is challenging, as you must understand the benefits and associated costs of the investments.

For some customer service technologies, such as workforce management, email, and chat, the business benefits are very clear. For other customer service technologies, such as social customer service or knowledge management, the business benefits are more difficult to precisely quantify. Yet in all cases, business benefits fall into one of three categories: reducing operational costs, improving productivity, or enhancing the customer experience. Examples include:

 

Technology

Business benefit

 

Reducing operational costs by…

Improving agent productivity by…

Increasing customer satisfaction by…

Chat

- Resolving customer issues with shorter average speeds to answer (ASA)

- Reducing the average interaction cost

Reducing re-contact rates

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Customer Service Tips For Today's Digital World

Today, the gap between customers’ expectations and the service they receive can be huge. There’s an explosion of communication channels that customers use—voice, digital channels like email and chat, and social channels like Facebook and Twitter. There’s also an explosion of touchpoints, like smartphones, tablets, and self-service kiosks. Customers expect efficient, consistent, personalized service experiences across these channels and touchpoints.

There’s no denying that mastering the service experience is hard to do. Yet focusing on leveraging digital channels is one way customer service leaders can move the needle on customer experiences.

Here’s how:

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