Blue Goldfish - Using Technology, Data and Analytics to Drive Both Profits and Prophets
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This document discusses how companies can use technology, data, and analytics to improve customer experience and drive business results. It argues that companies should focus on the three Rs: relationship, responsiveness, and readiness. Relationship involves personalizing customer interactions based on their data. Responsiveness means providing fast, convenient service through channels like mobile apps and real-time updates. Readiness is about anticipating customer needs through frictionless commerce and intelligent displays. The document provides various company examples to illustrate best practices for each of the three Rs.
Blue Goldfish - Using Technology, Data and Analytics to Drive Both Profits and Prophets
- 1. USING TECHNOLOGY, DATA AND ANALYTICS TO DRIVE BOTH PROFITS AND PROPHETS BLUE GOLDFISH By: Stan Phelps and Evan Carroll PurpleGoldfish.com
- 2. #1. By 2016, 89% of companies expect to compete mostly on the basis of customer experience
- 3. By 2016, 89% of companies expect to compete mostly on the basis of customer experience … four years ago it was 36%
- 4. #2. Customer expectations are rising. They expect a quick and personalized experience. Study by IBM showed:
- 5. #3. By 2020, 85% of B2B transactions will occur without talking to a human
- 10. Blue was inspired by King Harald Gormsson (nicknamed Blatand) He was a Danish King in the 10th Century. He converted Denmark to Christianity and united Scandinavia. Why Blue? !
- 11. Blatand translates to Bluetooth. The developers of the personal area wireless networking standard used it as a working name and it stuck. King Harald Blatand also was the inspiration for the logo
- 12. Now why a Goldfish? !
- 13. The goldfish represents something small. The average goldfish is 3 inches.
- 14. But the largest in the world in nearly 20 inches (50 cm)
- 15. 1 It turns out the size of a goldfish is influenced by five factors. The same reasons apply to business: 1. SIZE OF THE BOWL
- 16. 1 1. SIZE OF THE BOWL = MARKET
- 17. 1 2 2. # OF OTHER GOLDFISH
- 18. 1 2 2. # OF OTHER GOLDFISH = COMPETITION
- 19. 3. QUALITY OF THE WATER
- 20. 3. QUALITY OF THE WATER = ECONOMY
- 21. 4 2 4. FIRST FOUR MONTHS
- 22. 4 2 4. FIRST FOUR MONTHS = STARTUP / NEW PRODUCT
- 24. 2 5. GENETIC MAKEUP = DIFFERENTIATION
- 25. Assuming you’ve already been in business for four months, what do you have control over? Your market…NO, Your competition…NO, the economy…NO
- 26. The only thing you control is how to differentiate yourself to stand out in a sea of sameness. Differentiation in the future will be through technology, data and analytics.
- 29. THE FIRST “R” IS RELATIONSHIP
- 30. 1. Personalization Westpac is the fourth largest bank in Australia / New Zealand
- 31. Every month the bank has over 100 million transactions with its customers
- 32. The bank has mapped the journeys of its customers and has determined which products they use at different life stages
- 33. They’ve used that knowledge to create a program called “Know Me”
- 34. The Know Me program creates a standing next best offer (NBO) against a customer. The next time the customer visits a bank or speaks to customer service, the teller or representative makes the offer.
- 35. Westpac converted 40% of all NBO’s in Year One of the program Read more at: h/p://www.forbes.com/sites/stanphelps/2014/11/02/lessons-from-westpac-and-tory- burch-on-using-info-sense-to-drive-sales-through-customer-service/
- 36. 2. Two-Way Reviews eBay pioneered the two-way review system. Today Uber and airbnb allow both the customer and the company to review the transaction. Are you asking for feedback and rating your customers?
- 37. 3. Personal Data Tory Burch uses a tablet based system that tracks both online history and in-store shopping behavior
- 38. The Result: average order value for Client Book customers is 62% higher than average customer Read more at: h/p://www.forbes.com/sites/stanphelps/2014/11/02/lessons-from-westpac-and-tory- burch-on-using-info-sense-to-drive-sales-through-customer-service/
- 39. THE SECOND “R” IS RESPONSIVENESS
- 40. 4. Customer Service 3.0
- 41. Amazon took customer service to the next level with their Kindle Fire HDX. One touch of the Mayday button and it opens a video chat with a representative.
- 42. 5. Waiting The mortgage application process can be long and tedious. Wells Fargo Home Lending created a tool called yourLoanTracker, allowing customers to track their status from a number of devices.
- 43. 6. Real Time Response Mic-o-Data collects trash at 6,000 points in Holland. Once a day the trash bin sends an alert that tracks how full it is and if its functioning properly. This allows the company to respond quickly and only pick up the trash when needed.
- 44. THE THIRD “R” IS READINESS
- 45. 7. Convenience / Control Tesco has a service called “Click and Collect.” It allows customers the ability to shop for groceries online. They can then choose a convenient time to pick them up at a collection point.
- 46. 8. Frictionless Commerce Disney consolidated payments, room keys, Fast Passes and Photo Passes into one RFID wristband. Throughout the park, the wristband also delivers personalized experiences from kiosks and cast members.
- 47. 9. Intelligent Displays NS Prorail uses an LED display that gives real time data to customers. The 600 foot strip shows information on carriage crowdedness, where doors open and where quiet cars are.
- 51. Keynotes and Workshops +1.919.360.4702 speaking@purplegoldfish.com LITTLE THINGS CAN MAKE THE BIGGEST DIFFERENCE Keynotes & Workshops