Showing posts with label Social Media. Show all posts
Showing posts with label Social Media. Show all posts

Monday, March 12, 2012

Customer Service and The Wait-Time Misery Index

Recently there was an interesting article in the WSJ about new innovative ways companies are using by improving customer service and raise customer satisfaction for their products and company. Nothing is worse than non-performance or having to wait around for hours.

Not only does waiting increase stress, but creates a bad impression with clients. Many companies do not even provide 4 hour windows, but 8 hour windows, which kills the whole day. The longer in the day that service is finally provided, the less satisfaction a customer generally has.

Maybe some people of have heard of the Wait-Time Misery Index, but if not, it is a useful definition for measuring potential customer satisfaction. The greater the misery, the less customer satisfaction there will be.

The best adage is under promise and over deliver!

What new ways can you create to help reduce this index for your company? What change management techniques can be employed? How much do you communicate the need for great customer service and what metrics do you have in place to manage it and improve it? How can technology and IT, social media, visioning exercises, and strategic planning help to improve performance around this index? 

Have you, your C-Suite and Marketing personnel given thought to this? If so, how effective have you been? If not, why not?

(Link to the article is at the end.)

The Wait-Time Misery Index

Why Do Deliveries Trap You at Home For Hours; Strategies to Speed Things Up


Would you wait around if your friend was four hours late for dinner? No, but your cable company thinks this is a reasonable window of time to wait for service.
Now some companies are whittling down the wait window to two hours and trying to improve communication with customers. Some send texts with arrival updates while others reveal online where people rank in the day's delivery queue. The thinking: people, trapped in the house waiting for something to be delivered or installed or repaired, will feel less powerless if they know what to expect.
Everyone hates waiting for the phone company to come connect service or for a mattress to be delivered. Ray Smith on Lunch Break looks at which companies are innovating in this area and what effect waiting has on our sanity.
More than 50% of adults used a sick day or vacation day to wait at home for a service or delivery, according to a 2011 survey of more than 1,000 people by TOA Technologies, a Beachwood, Ohio-based firm that works with companies to reduce customer wait times. More than 25% of people surveyed lost wages while waiting.

People often become more stressed by the uncertainty, says Richard Wurtman, a neuropharmacologist and distinguished professor emeritus at the Massachusetts Institute of Technology. "The underlying personality will determine the extent to which you are vulnerable to stress induced from waiting."
Shaving two hours is a big leap, companies say, because so many factors affect delivery from traffic to calculating the time a repair or installation will actually take.

General Electric began experimenting with moving from four-hour windows to two-hour windows last year for its appliance deliveries in the Midwest. UPS late last year launched a program called My Choice which, for a $40 fee, offers customers a two-hour window delivery option. Use of the service has been strong, UPS says.

FreshDirect, a grocery-delivery service based in New York, offers two-hour wait windows. Less than a year ago, it began giving people $2 discounts on its usual $5.95 delivery fee to choose a "green" time slot—a window in which the company knows it has trucks in the customer's neighborhood. It is marketed as an eco-friendly innovation, but it also has the effect of grouping deliveries for more efficiency.

Linda Peterson, an interior designer from Atlanta, says she has resorted to paying more for an appliance-repair company called Appliance Doctor that guarantees two-hour windows, even though it costs at least 25% more, she says, than if she called the manufacturers of the appliances or other repair services.

"I didn't want to pay the premium, but I became so frustrated and being asked to wait for more than two hours was exasperating," she says. She finds even two hours hard to bear. In August, while waiting for a repairman, she began ironing linens to take her mind off the time. He arrived close to the end of the window and the work took awhile. "It was probably 50 napkins, four or five tablecloths easily," she says.

Calling during the wait window to inquire about the status of a shipment or delivery generally is not worth your time, companies say. That's because a customer will likely be calling the retailer, but usually the delivery is handled by a separate delivery company.

Service visits can be a different story. Bill Kula, a spokesman for Verizon, says usually that kind of inquiry wouldn't make a difference. That said, if a customer calls near the end of a promised window, perhaps 30 minutes before the time is up, it could be helpful. Verizon could see if there is a technician nearby who could reach the customer ahead of the scheduled technician, Mr. Kula says.

To make deliveries within a two-hour time slot, more companies are investing in software that helps determine the most efficient route The technology can shave time off trips by taking into account speed limits, for example, and estimating how long a stop will take based on service type.

"In the not too distant future, companies will be able to tighten that window to one hour," says Satish Jindel, president of SJ Consulting Group, a Sewickley, Pa., transportation and logistics consulting firm.
"I see companies using the two-hour window as a significant marketing thing," says Bruce Champeau, Room & Board chief operating officer. The furniture retailer has had a two-hour window in effect since the mid-1990s. "It's a matter of respecting the customer's time," says Mr. Champeau.

Room & Board uses scheduling software that factors in variables from traffic routes, including roadwork detours, to how long furniture assembly might take. Employees make additional updates and adjustments accordingly.

A small delivery window can give a company a leg up on rivals. With the far and fervent reach of social media, a very good or very bad delivery experience can go viral. Increasingly shoppers are broadcasting their anger—and naming company names—on customer review sites like Yelp, and on Facebook and Twitter. In the TOA Technologies survey, 16% of respondents said they post complaints online.

When it comes to waiting, a maddening factor is often the lack of information. Is the company on its way? More companies are trying to give customers status reports during the appointment window. Some businesses believe this reduces customer stress.

This is what New York's Metropolitan Transportation Authority found after it began installing digital clocks to display the number of minutes before the next subway train would arrive on the platform. So far, 209 of its 468 stations have the clocks.

"It's the 21st century," says MTA spokesman Kevin Ortiz. "There are expectations that real-time information be available to customers."

3PD Inc., of Marietta, Ga., which hires local carriers on behalf of large national retailers to handle the final leg—or what the industry calls "the last mile"—of a delivery, plans to add a similar style of communication for customers later this year. Using an app, 3PD's customers will be able to look up how far away a delivery is from arriving, says Will O'Shea, chief sales and marketing officer.

Some enterprising small concierge companies have emerged in recent years to do the waiting for you in your home for a fee. Some charge around $35 an hour.


When Victoria Kingscott's cable went on the fritz, the 25-year-old senior analyst at a financial services firm in New York says Time Warner Cable told her she couldn't get a Saturday appointment for three weeks. She couldn't take off work during the week, so she booked a 9 a.m. to 1 p.m. appointment for a Saturday last August and waited. When the big day came, she waited some more.

At noon, she became antsy. She called and was assured a technician would arrive within the hour. At 1 p.m. she called again. Apologies were offered. "I said 'this is unacceptable. It's a Saturday. I have things to do.'" She was given a second four-hour appointment window and told she was "next."

More hours of waiting, more calls. At one point Ms. Kingscott was erroneously told the technician was at her home. He was not. Finally, the technician showed up around 4 p.m. "He didn't really say he was sorry or offer any kind of explanation," she says.

"Clearly that is not an optimal customer service experience," says Alex Dudley, a Time Warner Cable spokesman. "The overwhelming majority of our installations go well."

Sunday, December 4, 2011

Algorithms and Their Effect on Searches Engines and Social Media and What You Get in the Way of Results

As we broaden our marketing efforts on social media sites, and even as simply as using a search engine, we need to be aware of the effect that Algorithms are having within the the global internet.

We can understand the possible need by these websites and search engines to customize results to yield more items that meet our needs and interests, given the vast amount of information available today. Still we need to make sure that we are cognizant about the "results" that we get and realize that they are just a small view into into a vast World of information.

A friend recently sent me a link to a YouTube video (see below) which highlights the ramifications for all of us, from CEO and Senior Management on down. How to combat it? Is there a way?

At times we get Google requests if we want to focus searches on the country where we are located, or Worldwide. But, with the ongoing revelations about FaceBook changing privacy settings without approval as an example, we will most likely need to be constantly vigilant to make sure that we are protected while also getting the necessary information we need, not "customized" to a person's or company's view, as there may be a lot of critical information that can be overlooked or not made immediately available to us.

This kind of "slant" on information provided to us, can have significant effects on strategic planning and in particular, competitor analysis, succession plans, and other areas of our strategies. Consequently, we need to be aware of how this kind of "customization" by providers can skew our perspective of the World, allowing us to be blindsided at times, especially if the information is not verified by direct customer contact and information gathering techniques. Reliance on single sources like the internet may not afford us an adequate view of the world to thwart the rise of competitors from unknown areas of the marketplace.

Being informed about how search engines and social media works, is essential in our new quest to use this powerful media and how we communicate. Enjoy the video below:

What FACEBOOK and GOOGLE are Hiding from world

Sunday, November 13, 2011

Social Media's Banging on Marketing's Door

In the past 3 years social media has fast become a required part of a company's marketing and strategic plan(s). Many of us are trying to determine how to effectively use it, reaching the right audiences with the right messages while helping to promote our products and services while also giving the customer and potential customer what they need, when they need it. This impacts sales, customer service, supply, our methodology of communication, and essentially involves the entire company.

The complexity of these interactions can be seen from the graphic (Customer's Preferences and Behaviors) taken from Accenture's recent research, who's link can be found below the graphic.

 Consumer's Changing Preferences and Behaviors

Taking social media and networking into consideration is critical, because either you lead, or follow your competition. Getting to markets  and understanding how to be use these channels, sooner rather later, can spell success or failure. The World is an oyster, but it can also be a labyrinth of dead-ends and sunken costs (in time, ineffective marketing methods and messaging). Good luck!

If you are interested, a portion of a part of the article is reposted here and the link is below this posting:

"The evolution of social media and other Web 2.0 tools is having a significant impact on both how consumers interact with companies and the level of control such companies have over the sales, marketing and service of their products. (Although it is difficult to find consensus on what exactly is meant by “social media,” for the purpose of our discussion, the term refers to Internet and mobile channels that enable users both to view and create content and to share that content with others.)
Today, consumers make their purchases either via retailers’ or manufacturers’ sites or retailers’ physical stores. However, as social networking and other Web 2.0 tools have exploded in popularity—consumers have many new sources of product information and buying advice, as well as answers to usage and technical questions about the products they have purchased.
In this new world, companies have an opportunity or a threat, depending on how they adapt marketing, sales and service of their own products to a new consumer ecosystem: one in which enthusiasts and detractors can dictate customer perception and experience for manufacturers.
Ramifications for providers—What are the ramifications of this shift? At a high level, the evolution of social media has introduced new contact channels that must be integrated into marketing, service and support strategies. However, while social networking and social media are certainly on the rise, there are still large groups of customers who do not communicate via these tools.
Therefore, differentiated service takes on an even greater role because of these new channels. A thorough understanding of customers’ channel preferences, combined with insights into the true value of customers to the business, must drive how companies interact with each respective segment.
In addition, because of the speed with which customers and information move today, companies must be able to incrementally, and very quickly, improve their operations based on what they learn from observing customers. As a result, many companies have shifted the focus of their investments from building channel infrastructure to creating nimble and robust content management and data collection and analysis capabilities.
From a marketing perspective, the evolution of social networks and online communities has resulted in a collapse of the marketing funnel. How so? Traditional, mainstream marketing forces a message through the marketing funnel, moving through stages from building awareness to earning loyalty. It only allows dialogue and relationship building as the prospect or customer progresses through the funnel.
By contrast, the digital revolution, and particularly social media, makes it possible to engage in a dialogue with prospects or customers much earlier and at many more touch points. The collapse of the marketing funnel, in turn, means the distinctions between marketing and sales become further blurred and, in some cases, disappear entirely. In fact, social media increasingly is being referred to not in terms of marketing or sales, but rather, as an “engagement channel,” which incorporates elements of both marketing and sales.
With consumers increasingly relying on third-party sites for usage and technical information, manufacturers must build capabilities to strengthen their brands and customer loyalty via these channels, as well as to up-sell and cross-sell relevant, related products and services, and gather and integrate cross-channel customer data. Indeed, smart use of these third-party channels can become a powerful way to boost image and customer satisfaction while reducing CRM operational costs."

CRM and Marketing

Friday, November 4, 2011

Evolution of Social Business Networks toward specialized markets and verticals. A threat to LinkedIn?

This is a very interesting article on business social media. I have copied it here for your review and information. The link to the original article is found at the end of the article.

Essentially, there is an evolution to more specific Business Social Networks versus more general Networks like LinkedIn. This is beginning to allow for more specialized content and information for a vertical network, and since LinkedIn doesn't have a good platform but does have an extensive resume database, it is vulnerable on the mid to long term basis. Essentially it still has time to react, but competition will be building.

Mentioned verticals are Academic and Investor based.

Hope that you find this interesting, as we watch the emergence of this fascinating segment of the marketing methodology. Enjoy the read!

The Verticalization Of Professional Networks Begins: Is It A Threat To LinkedIn?

This note is from BI Research, a new tech-industry intelligence service. The service is currently in beta and free.
linkedin hiring solutions revenue
LinkedIn hiring solutions revenue
Image: Business Insider Research
LNKDNov 03 11:00 PM
87.50
Change
3.00
% Change
3.55%
More and more, we are seeing the emergence of "vertical" professional social networks: networks dedicated to a specific type of occupation with specialized tools.  Here are two examples:
  • Academic networks. These networks help researchers and scientists get together to share data and information, and help companies tap networks of researchers to solve problems. One such network, Kaggle, recently added Silicon Valley and technology heavyweight Max Levchin as chairman. Another example is Paris-based Hypios.
  • Investor networks. These networks help investors conduct private financial transactions like M&A and asset sales. An example of a contender here is CapLinked, but also investors that connect entrepreneurs and investors like AngelList
Are these a threat to LinkedIn, the biggest, and more generalist, professional social network?
As we argued in our study of network effects, generalist networks can be undermined by more focused vertical upstarts. Is this going to happen to LinkedIn?
In the short-to-medium term: no. From a market opportunity standpoint, LinkedIn is a giant resume database, which gives it a unique asset to attack the multibillion dollar global recruiting industry, which it is already doing as the chart above shows. That is an enormous opportunity, and whether these networks succeed or fail won't make a difference to LinkedIn's execution in this market.
That being said, it is a big missed opportunity, because it shows that LinkedIn can't become a platform. Facebook's greatest insight, and what guarantees its dominance of the web over the next 5 years, was its crucial early realization that it couldn't do everything "social"--but that it could provide tools to third parties to do it through their social graph, thereby improving the value of their company (and allowing them to take a tax later on).
Building platforms seems to be a "DNA thing." It's a core competency, and companies either can or can't do it. And LinkedIn, so far, has been in the latter category. It has certainly tried to become a platform by allowing third-parties to build apps on top of LinkedIn and providing tools like an equivalent of Facebook's Connect feature, which allows user to log in to third-party sites with their Facebook credentials. But so far the applications are very limited. And several third-party LinkedIn developers have told us, on condition of anonymity because they are partners with LinkedIn, that LinkedIn's third-party tools are limited and technically frustrating.
LinkedIn is often referred to as a "professional" or "grown-up" Facebook, but that misses a crucial difference. Like Facebook, LinkedIn is a social network; unlike Facebook, LinkedIn is not a platform. This is a missed opportunity, and even though it shouldn't affect LinkedIn in the short-to-medium term, it remains a long-term weakness because in the future vertical professional networks just might undermine LinkedIn.
Therefore, even though LinkedIn has a big opportunity ahead of it that it is uniquely positioned to grasp, its incapacity to turn itself into a platform puts a lid on its potential future value.

Link to the original article:
http://www.businessinsider.com/the-verticalization-of-professional-networks-begins-is-it-a-threat-to-linkedin-2011-11

RELATED(Funding for New Companies): Investor Networks Play A Big Role In The New Company Financing Landscape →

Wednesday, October 12, 2011

Social Media in Asia - A dynamic and growing force - Challenges and Pitfalls

I found a recent article interesting as it provides data and usage of social media that I have not seen before, specifically about Asia. Those of us in business need to be aware of the dynamic growth and the need to develop policies and strategies around it, to increase customer awareness and penetration for our products and services. However, at the same time there are pitfalls and challenges that are confronted by our employees in the use of this wonderful medium.

A friend of mine, Sonnie Santos (http://wsph.biz/), in a recent seminar that I attended on HR 2.0 vs. 2011, highlighted the need for a social media policy in our company handbooks, and also the training needed to make employees aware of their responsibilities to the company. It highlighted awareness of how comments made by employees, can quickly go viral and can have positive, but even more dangerously, negative effects on the company and possibly that individual.

Many of us have started using social media for our personal use, but over time, some have begun using it on behalf of the company. Once this threshold has been passed, what you post is a direct reflection on and about the company. So, we need to make employees aware of these changes and the possible liabilities.

More recently, companies are doing background checks on candidate applicants via social media. There are numerous articles about how information gained via these sites, nixed/stopped the hiring of candidates that might have otherwise been qualified.

Below is the statistical data that may be of interest. The came from an article who's link can be found at the end of this posting.

"The rise of social media
...Already 58 percent of Asia Pacific’s population of 3.9 billion is online – with Australia and South Korea leading at 80-percent penetration rate; and Japan, Singapore, and Hong Kong rounding up the Region’s top five.
ASEAN member-states have also been experiencing spectacular Internet growth rates and reasonable Internet penetration rates. But the real story is the rise of mobile phones in the ASEAN region. Many analysts are predicting that with the increasing widespread use of smart phones, most of ASEAN’s citizens would eventually use mobile devices as the primary tool to access the Internet. The full ASEAN story is seen in this table below.
                                                Growth Rate               Internet Penetration           Mobile Penetration
                                                (2000-2010)                                                                                       
Indonesia                                  1,400%                                12%                                           60%    
Malaysia                                      357%                                60%                                          105%  
Philippines                                1,385%                                 30%                                           85%     Singapore                                     206%                                77%                                         150%   
Thailand                                        660%                                27%                                         120%   
Vietnam                                    12,035%                                32%                                        105%   
Filipinos should take particular note that Vietnam has surpassed the Philippines not only in Internet growth rates but also in Internet and mobile phone diffusion.
Social networking appears to be the preferred social media activity in Asia Pacific. It is followed by video sharing. In fact, it is only in China and Japan where video sharing surpassed social networks. Blogs are also used in the region but it is only in Japan where it trumps social networks.
... The Philippines and India have 25.3 and 29.4 million FB users, respectively – clearly an indication of the Philippines’ leadership in social media usage considering that we are one-tenth the population of India.
With respect to the Philippines, 30.3 percent of the 98 million population are internet users. The top five social network sites are: Facebook (FB), Yahoo, Blogspot, Bing and Sulit. Compared to Facebook’s 150 million page views (or even Twitter’s 50 million page views), mainstream media’s page views remain paltry: Inquirer and The Philippine STAR were neck and neck at 12 million viewers; CNET at 7.4 million; GMA News Online at 6.7 million and ABS-CBN News at 6.2 million. The Philippines has the largest percentage of FB users among Internet users in Asia, at 91 percent. We have moved from being the SMS capital to the FB capital of the world.
Why focus on social media? First of all, social media represents user-generated content. Filipinos (or Japanese or Malaysians) in FB are not just consumers of information but also producers of information. As a consequence, social media contributes to the decline of English as the dominant language of the Internet...

...The same UN Report ranked 192 countries in e-Government development. As usual, South Korea ranked number 1 followed by USA, Canada, United Kingdom and Australia. Among Southeast Asian countries, the rankings are as follows:
                                                                                SEA Rank                         Global Rank          
Singapore                                                                       1                                                 11                
Malaysia                                                                         2                                                 32                
Brunei Darussalam                                                          3                                                 68                
Thailand                                                                         4                                                 76                
Philippines                                                                      5                                                 78                
Vietnam                                                                          6                                                 90                
Indonesia                                                                       7                                                109                
Cambodia                                                                      8                                                140                
Myanmar                                                                       9                                                141                
Laos                                                                             10                                               151                

...Whether it is smart phones, social media, e-governance or other ICT innovations, we must take cognizance of the fact that 21st century technology must be exploited to its fullest potential. The private sector understands this. Sadly, our government has failed to understand the imperatives of the digital age and its attendant outcome towards economic growth and development. The Digital Age is our future and the future is now."

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=722781