The CRM Evolution

FASTEST LOSE WAYS TO CUSTOMERS WHY DO CUSTOMERS LEAVE A COMPANY? 68% LEAVE BECAUSE OF THE TREATMENT THEY RECEIVED 14% ARE DISSATISFIED WITH PRODUCTS AND SERVICE 9% BEGIN DOING BUSINESS 'WITH THE COMPETITION 5% SEEK ALTERNATIVES 3%MOVE AWAY 1% DIE THE EFFECT OF POOR CUSTOMER SERVICE ENDING BUSINESS RELATIONSHIPS: ROOT CAUSES OF LOST RELATIONSHIPS: 2.15 is the average number of ended relationships with companies by consumers in 2009. Repeating themselves 2 Being trapped in automated self-service 3 Forced to wait too long for service O Representatives don't know their history of value Cannot switch between communication channels easily CUSTOMER COMPANY Ó 9.5 minutes is spent on average trying reach a human when trapped in an automated phone system. LOST CUSTOMERS AND YOUR COMPETITOR: LOST CUSTOMERS AND POOR SERVICE: 61% 71% of consumers take their business to a competitor when they end a business relationship of consumers have ended their relationship due to poor customer service THE COST OF LOSING CUSTOMERS COST PER CUSTOMER: COST OF POOR CUSTOMER SERVICE: $83 BILLION The value of each lost customer. $243 $289 is the cost of poor customer service in the US. $32.4 $50.6 81 8 Business abandoned or lost to entire industry Customer churn and defection in industry GLOBAL USA SOCIAL MEDIA OVERKILL CUSTOMER ENGAGEMENT AND TWITTER CUSTOMER ENGAGEMENT AND TWITTER In many ways, Twitter has become an extremely important platform companies can use to spread their name and interact with customers. But rookie mistakes can rapidly push customers away. 65% of Fortune 100 global companies utilize twitter to engage with the world LOSING CUSTOMERS THROUGH BAD TWITTER PROTOCOL Overtweeting A never ending barrage of tweets from a company will easily annoy customers, watering down the desired message. A company may lose customers faster than they gain. Self-Promotional A company's services or products should be promoted usually only in direct response to customer questions. 3 Fail to Connect A company should always engage with customers who tweet regarding their product or service. This also includes providing a rapid response to complaints, showing the complaining customer and others on Twitter that the company desires to take care of business. FOLLOWING COUNT A company's following count should not higher than 10% of their follower count. 4 Desperately Following JUST RIGHT TOO TWITTER FOLLOWERS MUCH How many people a company follows is as important as their following count. 200 300 ACQUISITION OR RETENTION Companies focus on acquisition more than customer retention, even though it can cost 6 to 7 times more to acquire new customers. PRIMARY MARKETING GOAL OF US B2B MARKETERS LEVEL OF IMPORTANCE ACCORDING TO MARKETERS WORLDWIDE 63% 62% CUSTOMER ACQUISITION 20% CUSTOMER RETENTION of respondents felt thạt new customer acquisition is the most important advertising goal 14% BRAND AWARENESS 4% OTHER get satisfaction SOURCES: bautomation.com, mediapost.com, businessfast4ward.com, socialmediatoday.com 2009 CONSUMER SURVEY www.getsatisfaction.com