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Learn how to leverage mobile technology to transform how you engage and interact with customers across a variety of industries, including financial services, insurance and healthcare. This presentation covers the three keys to successful mobile engagement, customer engagement challenges and trends, and how to leverage mobility in the First Mile™ of customer interactions for competitive advantage.
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Mobile and the First Mile™ of Customer Engagement
Jeff Ballard
Industry Solutions Executive
24 May, 2013
Do You Remember When Making a Purchase Meant…
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Going to that
store or branch…
And basically engage
according to their rules Shop their hours…
Having to rely on
their expert advice…
Trying to find things based
on the store’s layout…
Finding a store that
carried the item…
The Impact of Mobile Has Changed That Dramatically
3
• 1B consumers with smartphones by 2016
• 350M employees will use smartphones
• 200 million will bring their own
• Mobile spend will reach $1.3T by 2016
• 35% of the technology economy
• Mobile Apps market 55 billion
• Business spending on mobile projects
will grow 100% by 2015
Mobile is the manifestation of a much
broader shift to new systems of
engagement, helping firms empower their
customers, partners and employees with
context-aware apps and smart products
~ Forrester
It’s Not Just the Young Driving Multichannel Service Demand
4
Mobile is the most disruptive consumer technology trend(s) from now to 2015
Source: Forrester, 2013
What’s Your Perspective?
Are you seeing some of the same trends?
How is your market different?
What are you/your customers exploring in
mobile?
6
3 Keys to a Successful Mobile Engagement
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Customer Engagement
The First Mile
Mobile
Customer Engagement
8
The New Business Battleground
Return on Relationship
Bottom Line Impact
Source: Gallup, 2012
The Value of Customer Engagement
Slide 9
Actively Engaged Strongly emotionally attached
and attitudinally loyal
Engaged
Emotionally attached but not
strongly loyal
Not Engaged
“Take it or Leave it.” attitude
Actively Disengaged
Completely detached from your
company and its product and
services
Share of Wallet, Profitability, Revenue and Relationship Growth
Organizations with optimized
customer engagements
significantly outperform their
competitors
How Engaged Are Your Customers?
Slide 10
Source: Gallup, 2012
Automobile 26% Actively Disengaged
those purchasing a new car in the last
4 years
Airline
43% Actively Disengaged
with the airlines they fly most often
Best Performing
Brands 14-30% Actively
Disengaged
Hotel $700 Per
Customer Annual reduced revenue due to
Disengaged Customer
Banking
$8,000 Per Customer
Annual reduced revenue due to
Disengaged Customer
Better Customer Experience Drives Millions In Revenue Benefit Across Industries
Customer Engagement Challenges
“Business Priorities 2013: Business Growth through Customer Experience
Strategy and Operational Investment” IQPC – January, 2013
“Only 39% of
organizations
reported that they
had been able to
drive improvements
in customer
satisfaction over the
previous 12 months ~ Trends in Customer Service
2012: Multi-channel Edition, Aberdeen, Nov. 2012
What’s Your Perspective?
Is your company/customer talking about
customer engagement?
Who are some of the companies with the best
customer service in your market?
How would/do you measure customer
engagement success?
13
First Mile
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The Battle is Won or Lost in these Trenches
Kofax Addressing the Insurance First Mile
Slide 15
Agents/Regional Offices Corporate Office Consumer/Business
Mobile Devices
Emails
XML / EDI Data Streams
MS Office / PDF TIFF / JPEG files Portals
Faxes
Digital Scanners MFPs / MFDs
Paper
Mail Room/
Processing
Center
The First Mile
“Systems of Engagement”
generate real time, information intensive
communications from customers
“Systems of Record” are enterprise applications
designed for internal purposes
Technology Has Evolved to Support the First Mile
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Market Size
1M
100M
1B+
1985 1990 1995 2000 2005 2010 2015
$0
$1B
$2B
$3B
$4B
$5B
100K
500K
Smart Phones & Tablets Used by
Employees & Customers
Desktop Scanners & MFPs in Highly
Distributed Front Offices
Mid Range Scanners in Distributed
Regional Offices
Production Level Scanners in
Centralized, Back Offices
Monolithic Page Scanners in
Centralized Back Offices
“Everyone has a scanner
in their pocket today.” Geoffrey Moore,
Best-selling Business Author
Optimize your customer experience
Enable collaboration with your customers & inside
your organization
Improve response times and service levels
Gain competitive differentiation and advantage
Better manage and grow your business
Greatly reduce operating costs
Improve information quality
Accelerate processing times
Minimize labor intensive processes
Making the First Mile Smarter
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What’s Your Perspective?
What does your/your customer’s First Mile look
like?
Where are you/your customers capturing
information coming in to the organization?
What is of the most concern in your First Mile –
customer engagement or cost reduction
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Mobile
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The (Not so) Secret Weapon of Customer Engagement
67% consider mobile devices to be important to improving business processes
45% believe mobile devices would improve their speed of response by > 3X
Yet > 75% have made no progress toward these goals
Leverage Mobility for Competitive Advantage
Financial Services • Customer onboarding • Mortgage & loan apps • Appraisals • “Trailing documents”
Healthcare • New patient onboarding • Clinical documentation • Medical claims submission • Revenue cycle management
Government • Citizen benefit enrollments • Claim submissions • Licenses, permits & renewals • “Trailing” documents
Source: AIIM – April 2012
Insurance • New policy quotes • Customer onboarding • Claim submissions • “Trailing” documents
Mobile: A 4-Tier Opportunity
Welcome your new employees ...
• Underwriters
• Adjusters
• Actuaries
• Diagnosticians
• Regulators
Your advisors are changing how they provide
financial planning advice to consumers...
...because it’s supporting customers through their buying journeys
Source: November 2011 Forrester Report : “Mobile Mandate For eBusiness Professionals”
Danger Lies Ahead…
25 Source: Forrester
What’s Your Perspective?
What are you/your customers doing with mobile
today?
What plans for the future – what is of most
interest?
Are you focused on consumer, partner,
employee, or smart device apps?
Who do you find is best leveraging mobile today?
26
Questions?
For further information, please contact:
Jeff Ballard
Industry Solutions Marketing
Phone: +01-949-783-1476
Email: [email protected]
LinkedIn: www.linkedin.com/in/JeffBallard
Twitter: @JBallard_Kofax