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Are you realizing the full potential of your customer relations?
Customer Centricity in B2B Markets
Welcome
Stefan Kolle   (@flb_stefankolle)




We’re no gurus, seminar pro’s or professors …
         We’re just some guys ...
“Like an architect,
                                                                                                we add...
Thought leadership                                      Recognition


                                                    ...
When I think of customers

 I think of whales



   We talk about them

   Somehow we care

       We even try

     But i...
FUTURELAB




      Virtually all CEO’s consider the customer experience to be important


      80% of them believe they ...
FUTURELAB




           The business hears:
           • This may cost money
           • This sounds complex
           ...
FUTURELAB



There’s only one problem with this

You get paid in Euros,
Not in happy faces.




                          ...
FUTURELAB
       Our mission: A more customer-friendly world




         Create sustainable, organic
                    ...
FUTURELAB

                      The same coffee beans                      Cost per cup

                      The future...
FUTURELAB


                                      Discounts?
                                  You must be joking.




The...
FUTURELAB




The bad news

General satisfaction or marketing rethoric won’t cut it
FUTURELAB




When surveying the satisfaction responses of ISP defectors in the 12 months prior to their defection

80% we...
FUTURELAB




In spite of a standing ovation

55% Year-to-year churn rates are normal in classical music
                 ...
FUTURELAB

                     “When it comes to customer
                     experience we’re doing fine. All
         ...
FUTURELAB




                           Self Reflection:
                   Do YOU Expect Not to be Satisfied?




The si...
FUTURELAB




Enter Fred Reichheld

We need something else …
Net Promoter, NPS, and Net Promoter Score are trademarks of S...
FUTURELAB
    Detractors: Dislike           Passives: Satisfaction       Promoters: Delighted




       0         1      ...
FUTURELAB




                                                   Customers that are so happy they
                        ...
FUTURELAB
    Detractors: Dislike                  Passives: Satisfaction       Promoters: Delighted




       0         ...
FUTURELAB




The main reason

This time it’s personal
The main reason

And its even stronger in B2B
FUTURELAB




Promoters are more profitable

Philips used customer experience to drive revenue
Disguised numbers

Client case
Customer Delight is “the” biggest driver of future business growth …


   Likelihood to Repurchase (B2B-markets)          ...
FUTURELAB                                                                    FUTURELAB




                               ...
FUTURELAB


                                     Detractor           Passive               Promoter
                      ...
FUTURELAB




                                Customer value increase
                                                    ...
perception

80% of CEO’s believe their
brand provides a superior
customer experience

8 % of their customers agree

(Bain ...
FUTURELAB




          “Let’s go WOOOOOWW!!”              “Let’s spread love & hug”   “Let’s be like Disneyland”




The ...
FUTURELAB




In fact

The experience IS the product
It just works   This is cool!




        I sell overpriced, underspec’d                    A low performance gaming
     ...
CEO: I need to be sure that the
                                           “Nobody ever got fired for
      strategy I wan...
FUTURELAB




This disconnect is the problem

Most companies roll the dice on customer experience
FUTURELAB




                                          The Traditional Perspective


                                    ...
FUTURELAB



                                                The Traditional Perspective


                               ...
Customer Experience Management

Is about managing emotions at each step of the journey
FUTURELAB
                                                                             FUTURELAB




 69% of consumers say...
Remember

Emotional Satisfaction
Remember

Emotional Engagement
FUTURELAB




                        There’s more

                       Leave the bank with
                           ...
FUTURELAB


                      I take care of my family,
                      my employees and my
                    ...
FUTURELAB



                                               Listen , I shouldn’t say
                                     ...
FUTURELAB




                                                           Aren’t we already
                               ...
But obviously you can’t speak to everyone

A structural listening mechanism
FUTURELAB

                                             NPS survey




        Implement
     initiated action

          ...
FUTURELAB




A structural listening mechanism

B2B: Look at individuals, not at accounts
FUTURELAB




                                  insurance    administration      doctors        nurses
     Sleep medicine...
But it can also be very simple

Case: Rackspace
FUTURELAB




                   Go forth and discover
                   this wonderful brand!




Once the basics are so...
FUTURELAB




                             THE ACTIVATION CHALLENGE


           Are you likely to                    Do y...
FUTURELAB




If you want me to talk about you


Give me a story
that makes     myconversations
(and me) more interesting.
What IS the story?
18/04/2012                        53
And of course…delivery
18/04/2012                            54
If you want me to introduce you to my friends


Give me tools
that demonstrate my value to my
friends, colleagues and fami...
FUTURELAB




              Co-Creation             Customer Council        Customer Communities
             Help us deve...
FUTURELAB




If you want me to introduce you to my friends


Just ask me
You’d be surprised how easy it is
to get me to t...
FUTURELAB




                        Dont forget: You already asked them in the survey!



Mechanisms to spread the word
...
FUTURELAB

              • Engage at a truly personal level, individual by individual (no automated communications)
   Sup...
NPS based segmentation

Differentiate conversations based on customer attitude
FUTURELAB



  Case: World Economic Forum


                                 Everyone who works for the
                  ...
FUTURELAB




2 out of 3 employees
is proud about their
employer, but only 19%
shares stories on
social media: unused
conv...
FUTURELAB




                             “you know what
                            those idiots did at
                ...
FUTURELAB



      117,000 employees*

      = 17.5 million 1st degree contacts
      = 2.65 billion 2nd degree contacts  ...
FUTURELAB




     Romanian insurance employee media impact (excl. agents) =

        350 employees

        = 52,500     ...
Consider       •   Would you buy vs. Would you work
               •   Handle with care – political
Employee NPS   •   Ano...
FUTURELAB


Would you recommend the bank to friends /family?
32% No           28% conditionally

Would you recommend the b...
FUTURELAB


        Really??




Debate

How is this in your business
Image attribution: Rob Markey, Bain & Company
FUTURELAB




In countries where employees are 10% more likely to promote Holcim, NPS is on average 18 points higher

Case...
FUTURELAB




Creating promoters

It takes more than ticking the customer feedback box.
FUTURELAB



            A structured approach

            1. Show me the Money
            2. Listen to the Customer’s V...
FUTURELAB




                   @FLB_StefanKolle
                    www.futurelab.net
                    slideshare.net...
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Presentation given at the B2B Marketing conference by Evensys at the Hilton Bucharest on April 19th, 2012

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B2 b marketing bucharest 2012

  1. 1. Are you realizing the full potential of your customer relations? Customer Centricity in B2B Markets
  2. 2. Welcome Stefan Kolle (@flb_stefankolle) We’re no gurus, seminar pro’s or professors … We’re just some guys who’ve been there too (and still are)
  3. 3. “Like an architect, we add to the vision of our clients and manage their agencies and vendors towards the desired result.” Futurelab International Hoornzeelstraat 24 3080 Tervuren Belgium T: +32 2 7338332 F: +32 2 7065772 E: info@futurelab.net We are business strategist with a passion for customers, innovation and profit We deliver new profit opportunities through customer-centricity, commercial sense and hands-on innovation 19/04/2012 3
  4. 4. Thought leadership Recognition • + 10,000 articles • 75,000 regular readers + 350,000 readers + 10,000 followers Regular speaking & media appearances We do more than consult, we want to right what is wrong Opinionated – a desire to make a difference – unafraid to take the high road
  5. 5. When I think of customers I think of whales We talk about them Somehow we care We even try But in the end, month’s bills must be paid FUTURELAB
  6. 6. FUTURELAB Virtually all CEO’s consider the customer experience to be important 80% of them believe they offer a superior customer experience 8% of their customers agree Exhibit # 1 Customers are the whales of the corporate world Source: Bain & Company
  7. 7. FUTURELAB The business hears: • This may cost money • This sounds complex • Another marketing hype The customer evangelists say: • Yes, this will cost money • They will be more loyal • Customers pay our salary • They will talk well about us • It’s important Most companies See customer experience as a “moral imperative”
  8. 8. FUTURELAB There’s only one problem with this You get paid in Euros, Not in happy faces. “Why should I allocate precious budget to experience?” FUTURELAB
  9. 9. FUTURELAB Our mission: A more customer-friendly world Create sustainable, organic Create some happiness growth (i.e. make more money) The next half hour How to break through this disconnect
  10. 10. FUTURELAB The same coffee beans Cost per cup The futures market (nov 2011) € 0.01 in a package at the grocery store € 0.075 at Nespresso € 0.40 in a paper/plastic cup from a machine € 1.00 from a machine in a theme park € 2.20 in a cup in a big city café € 2.50 at a deluxe restaurant € 5.00 during my honeymoon with a glass of I haven’t got a clue! 100 year old Armagnac The good news There is an intuitive case linking money to experience
  11. 11. FUTURELAB Discounts? You must be joking. The good news Best practice experiences exist
  12. 12. FUTURELAB The bad news General satisfaction or marketing rethoric won’t cut it
  13. 13. FUTURELAB When surveying the satisfaction responses of ISP defectors in the 12 months prior to their defection 80% were “satisfied” to “very satisfied”
  14. 14. FUTURELAB In spite of a standing ovation 55% Year-to-year churn rates are normal in classical music (cc) Jorge Franganillo
  15. 15. FUTURELAB “When it comes to customer experience we’re doing fine. All our customers are very satisfied. The only problem is that they don’t return to buy again.” Real Case European B2B brand
  16. 16. FUTURELAB Self Reflection: Do YOU Expect Not to be Satisfied? The simple truth Customers “pay” to be satisfied
  17. 17. FUTURELAB Enter Fred Reichheld We need something else … Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld.
  18. 18. FUTURELAB Detractors: Dislike Passives: Satisfaction Promoters: Delighted 0 1 2 3 4 5 6 7 8 9 10 The ‘ultimate’ question How likely are you to recommend
  19. 19. FUTURELAB Customers that are so happy they are likely to recommend a company  spend more  negotiate less  stay longer as customers  are more open to upselling  are easier to service  upgrade quicker  are ready to refer to others  increase staff morale  etc. The ‘ultimate’ question – most important finding Customers who recommend you, are more profitable
  20. 20. FUTURELAB Detractors: Dislike Passives: Satisfaction Promoters: Delighted 0 1 2 3 4 5 6 7 8 9 10 The ‘ultimate’ question – most important finding This time, there is a money link
  21. 21. FUTURELAB The main reason This time it’s personal
  22. 22. The main reason And its even stronger in B2B
  23. 23. FUTURELAB Promoters are more profitable Philips used customer experience to drive revenue
  24. 24. Disguised numbers Client case
  25. 25. Customer Delight is “the” biggest driver of future business growth … Likelihood to Repurchase (B2B-markets) Share of Wallet (B2B-markets) “delighted customers are 5x more likely to “at the point of delight, there is an exponential (recommend) repurchase” increase in the share of wallet” Source: http://www.ipsos-ideas.com/library/dl.cfm?pdf=IpsosLoyalty_WP_Delight.pdf The game is not about “customer satisfaction” … it’s about “delight” Customer Delight
  26. 26. FUTURELAB FUTURELAB The worst I’ve ever seen 5:1 The best I’ve ever seen 6000:1 Promoters are more profitable Personal experience in 15 industries … and counting
  27. 27. FUTURELAB Detractor Passive Promoter 0-1-2-3-4-5-6 7-8 9-10 Margin on purchase of printer RON 50 ___________ ___________ RON 150 RON 250 ___________ # Purchases over life time 1 ___________ 3 ___________ 10 ___________ 2 ___________ 10 ___________ 50 ___________ # Service visits over life time Customer Value RON 250 ___________ RON 950 ___________ RON 5.000 ___________ Word-of-mouth effect (+/-) RON 500 -/- ___________ ___________ RON 500 RON 4.350 ___________ Total Customer Value ___________ RON 250 -/- ___________ RON 1.450 ___________ RON 9.350 Making the case ASSUMPTIONS • Printer price: RON 500-2500 Printer case • Average life: 5 years (warranty 3 years) • Avg. service visit: RON 50 Margin
  28. 28. FUTURELAB Customer value increase = ROI Cost to make them happy So, how do we implement this? Breaking the CEO Dilemma
  29. 29. perception 80% of CEO’s believe their brand provides a superior customer experience 8 % of their customers agree (Bain & Company) 19/04/2012 29
  30. 30. FUTURELAB “Let’s go WOOOOOWW!!” “Let’s spread love & hug” “Let’s be like Disneyland” The bottom line: with customer experience we’re We’re not talking about the fluffy stuff
  31. 31. FUTURELAB In fact The experience IS the product
  32. 32. It just works This is cool! I sell overpriced, underspec’d A low performance gaming devices with poor battery life. console with few titles. Defining “what is the experience” The experience IS the product
  33. 33. CEO: I need to be sure that the “Nobody ever got fired for strategy I want to propose will be buying.... supported by the board. Defining “what is the experience” The experience IS the product
  34. 34. FUTURELAB This disconnect is the problem Most companies roll the dice on customer experience
  35. 35. FUTURELAB The Traditional Perspective Pre-sales Sales After Sales The Customer’s Reality Search Evaluate Try Select *** Wait *** *** *** Search * * * = Confidential Case A radically different perspective 19/04/2012 35
  36. 36. FUTURELAB The Traditional Perspective RFP Development Delivery The Customer’s Reality Latent Self- Discuss Informal RFP RFP … Problem study @ office RFI Prep Case: Professional Services A radically different perspective 19/04/2012 36
  37. 37. Customer Experience Management Is about managing emotions at each step of the journey
  38. 38. FUTURELAB FUTURELAB 69% of consumers say emotions drive their customer experience Source: strategic resource development group, 2006 In B2B, the average impact of emotional motivation on loyalty outweighs rational motivation by 2:1 margin, in both goods and services Source: Synovate Meta-analysis of 275 studies, 2008 The amygdala did it Remember Experience is about emotions
  39. 39. Remember Emotional Satisfaction
  40. 40. Remember Emotional Engagement
  41. 41. FUTURELAB There’s more Leave the bank with your card Have a coffee next door if you need to wait (with alerts) Friendly & smiling recruitment policy NOT rolling the dice Case: Metro Bank
  42. 42. FUTURELAB I take care of my family, my employees and my community. Above everything I want respect and recognition for that. Structural listening: You want to dig deeper Case: a greek bank
  43. 43. FUTURELAB Listen , I shouldn’t say this but I actually like your December events in London best, as it allows me to get in some Christmas shopping. Structural listening: You want to dig deeper Case study: a training company
  44. 44. FUTURELAB Aren’t we already listening enough? Surveys – market research – customer feedback systems … Do you listen, or gather information to write reports?
  45. 45. But obviously you can’t speak to everyone A structural listening mechanism
  46. 46. FUTURELAB NPS survey Implement initiated action Prepare and analyze results Initiate Quick Fixes Execute Feedback Calls Plan and initiate Derive recommendations for concrete actions improvement Tactically close the loop Listen to each customer
  47. 47. FUTURELAB A structural listening mechanism B2B: Look at individuals, not at accounts
  48. 48. FUTURELAB insurance administration doctors nurses Sleep medicine & non-invasive ventilation government patients patient family anyone else of relevance Reminder: it’s not just about direct buyers Case: patient-centric management at Resmed
  49. 49. But it can also be very simple Case: Rackspace
  50. 50. FUTURELAB Go forth and discover this wonderful brand! Once the basics are sorted You can start activating promoters
  51. 51. FUTURELAB THE ACTIVATION CHALLENGE Are you likely to Do you actually recommend? recommend? YES !! NO What goes wrong ? That’s not the whole story You can start activating promoters
  52. 52. FUTURELAB If you want me to talk about you Give me a story that makes myconversations (and me) more interesting.
  53. 53. What IS the story? 18/04/2012 53
  54. 54. And of course…delivery 18/04/2012 54
  55. 55. If you want me to introduce you to my friends Give me tools that demonstrate my value to my friends, colleagues and family
  56. 56. FUTURELAB Co-Creation Customer Council Customer Communities Help us develop Guide us Help each other Beware: these are not employees! Dont try to be too controlling – let them become selfmanaging. Dont pay them in cash – pay them respect. Back at your office Activate your most loyal and enthousiast customers
  57. 57. FUTURELAB If you want me to introduce you to my friends Just ask me You’d be surprised how easy it is to get me to talk
  58. 58. FUTURELAB Dont forget: You already asked them in the survey! Mechanisms to spread the word Asking is free FUTURELAB
  59. 59. FUTURELAB • Engage at a truly personal level, individual by individual (no automated communications) Super • Involve in future marketing, product development, sourcing, etc. Promoters • Identify the reasons and sources of their promotion, which help fuel future marketing campaigns Promoters • Give them tools to actually promote (stories to tell, gifts to give…) • Ensure that the passives know what drives the promoters, i.e. highlight what is good and positive Passives • Capture if they just want to be left alone (lest they might turn into detractors) • Based on root cause analysis engage early and on the topics that matter most Detractors • Show that you actually listen and are serious to resolve issues – f.i. list current issues on the website • Engage directly and personally to resolve their issues, see what it takes to stop them from damaging you Brand • Turn them into ambassadors – also internally, to teach the organisation how to stop creation of ‘terrorists’ Terrorists NPS based segmentation Differentiate conversations based on customer attitude
  60. 60. NPS based segmentation Differentiate conversations based on customer attitude
  61. 61. FUTURELAB Case: World Economic Forum Everyone who works for the WEF and openly uses social networks is – de facto – a spokes person for the company • Train them • Create minimal guidelines • Support them to go (more) online Guidance is useful Make sure your people are social-savvy
  62. 62. FUTURELAB 2 out of 3 employees is proud about their employer, but only 19% shares stories on social media: unused conversation potential.
  63. 63. FUTURELAB “you know what those idiots did at work”? Employees matter Remember last Christmas dinner conversation?
  64. 64. FUTURELAB 117,000 employees* = 17.5 million 1st degree contacts = 2.65 billion 2nd degree contacts I have the power to Not to mention: Distribution network, vendors, other. make or break you. If you do the math There are a lot of conversations waiting to happen * Applying Dunbar’s number of an average of 150 meaningful relationships to a global electronics company
  65. 65. FUTURELAB Romanian insurance employee media impact (excl. agents) = 350 employees = 52,500 1st degree contacts X trust multiplier = 7,875,000 2nd degree contacts Bucharest population = 1.9 million (4.14 x) Vs. Romanian population = 21.9 million (36%) Act as an ambassador at all times This conversation actually has quite a bit of impact
  66. 66. Consider • Would you buy vs. Would you work • Handle with care – political Employee NPS • Anonymity is Imperative
  67. 67. FUTURELAB Would you recommend the bank to friends /family? 32% No 28% conditionally Would you recommend the bank as an employer? 39% No 30% Yes N=25,000 (out of 59,000) This is especially bad if you consider that not all employees are promoters Case: Commerzbank
  68. 68. FUTURELAB Really?? Debate How is this in your business Image attribution: Rob Markey, Bain & Company
  69. 69. FUTURELAB In countries where employees are 10% more likely to promote Holcim, NPS is on average 18 points higher Case: Holcim 18/04/2012 69
  70. 70. FUTURELAB Creating promoters It takes more than ticking the customer feedback box.
  71. 71. FUTURELAB A structured approach 1. Show me the Money 2. Listen to the Customer’s Voice 3. Build a platform for aligned action 4. Manage the customer experience 5. Future-proof your channels 6. Manage all your social media 7. Build a customer movement 8. Walk the customer talk FUTURELAB
  72. 72. FUTURELAB @FLB_StefanKolle www.futurelab.net slideshare.net/futurelab YOUR FREE E-BOOK DOWNLOAD ON: http://tinyurl.com/b2bbucharest Available via

Presentation given at the B2B Marketing conference by Evensys at the Hilton Bucharest on April 19th, 2012

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