Despite the popularity of CRM solutions, business process pros tell us they still struggle with how to define the right customer management strategies, re-engineer customer-facing business processes, and effectively acquire and deploy the right supporting technology solutions that will meet their needs. Looking ahead, what trends will dominate the planning agendas of business and IT professionals responsible for transforming customer-facing business processes in 2011? Here is a summary of the 12 trends and links to our key research reports for those who want to take a deep-dive into the underlying Forrester data and analysis.
Trend 1: The negative revenue impact of poor multichannel customer experience is recognized.
As 2010 draws to a close, what are the key trends that customer management process professionals need to pay attention to as you finalize plans for next year?
Here are the top trends that I am tracking. My full report that spotlights our latest research will be published in January.
Trend 1: The Revenue Impact Of Poor Customer Experience Is Recognized
Our models estimate that the revenue impact from a 10 percentage point improvement in a company's performance, as measured by Forrester’s Customer Experience Index Score (CxPi), could be in excess of a billion dollars. Poor performers are particularly weak in being able to orchestrate multichannel interactions.
Trend 2: Business Process Management Extends To The Front Office
By extending business process management (BPM) to the front office functions, customer service organizations will improve the consistency of service delivered, elevate agent efficiency, personalize service, and meet compliance goals — at a cost that makes sense to the business.
Trend 3: The Business Value Of Social Customer Engagement Becomes More Evident
Winners of Forrester’s annual Groundswell Award spotlight how organizations are using Social Computing to innovate, such as: community-based marketing research techniques; engaging with customers through social media; energizing brand advocates; empowering communities to support customer self-service; and collaborating with customers during the product ideation and development process.
We just finished judging the entries for Forrester's Voice of the Customer Awards 2010. Announcing the winners will have to wait until we’re onstage at the Customer Experience Forum in New York on June 29. But there is something I want to announce right now: I am really impressed by the entries! :-)
Because I was also a judge last year, I couldn’t help but notice some big changes from last year. Here they are in no particular order: