Cookie Preference Centre

Your Privacy
Strictly Necessary Cookies
Performance Cookies
Functional Cookies
Targeting Cookies

Your Privacy

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences, your device or used to make the site work as you expect it to. The information does not usually identify you directly, but it can give you a more personalized web experience. You can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, you should know that blocking some types of cookies may impact your experience on the site and the services we are able to offer.

Strictly Necessary Cookies

These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site may not work then.

Cookies used

ContactCenterWorld.com

Performance Cookies

These cookies allow us to count visits and traffic sources, so we can measure and improve the performance of our site. They help us know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies, we will not know when you have visited our site.

Cookies used

Google Analytics

Functional Cookies

These cookies allow the provision of enhance functionality and personalization, such as videos and live chats. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies, then some or all of these functionalities may not function properly.

Cookies used

Twitter

Facebook

LinkedIn

Targeting Cookies

These cookies are set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant ads on other sites. They work by uniquely identifying your browser and device. If you do not allow these cookies, you will not experience our targeted advertising across different websites.

Cookies used

LinkedIn

This site uses cookies and other tracking technologies to assist with navigation and your ability to provide feedback, analyse your use of our products and services, assist with our promotional and marketing efforts, and provide content from third parties

OK
Become a Basic Member for free. Click Here

Small pieces of Big Data helps a small business make big gains - Gerry Brown - ContactCenterWorld.com Blog

Small pieces of Big Data helps a small business make big gains

I recently moved house which, in itself is not particularly worthy of a blog post and would probably even fail to excite the most avid Twitter follower, as thousands of people up sticks every day.  But it was that last fact that led to a minor eureka (that’s Greek for “this bath is too hot!”) moment, and the opportunity to help a client increase their business as well as some real revelations about the power and leverage of Big, or even, not so big data.

Once in my new house I had to update my personal details with all of the companies that I patronize, and while there are companies that will do this for you, I’m paranoid enough about identity theft to want to do this myself and know that the information is in the right hands. This relatively simple task turned into a time consuming and frustrating exercise in self-flagellation, as over 50% of the companies that I had to contact had no facility for being able to do this on line. These dinosaurs, the same ones that make you repeat your details after you’ve slogged through their mind numbing, time wasting, incomprehensible IVR on a 084X number, made me call them and/or send an email, thus wasting my & their time and significantly increasing their cost. Not only that but none of the people that I spoke to, or responded to my email, seemed remotely interested in finding out more about my circumstances. Had I won the lottery? Inherited a small fortune? Come to my senses and left London? How crazy is that? With the number of people and companies that move on a regular basis many organizations are missing out on a great opportunity to reconnect with their customers and use the information to enhance their relationship, and improve their profitability.

So it got me thinking about how this could be turned into a positive experience and on a recent trip to Canada I spoke to some guys that I know, that have a successful cloud software company, and who were looking to improve their performance in terms of both existing customers and new business. However they didn’t want to invest a small fortune and take months, or years, to do it. We looked at what they already knew about their customers and prospects and decided that it was worth seeing if adding some carefully selected, but relatively small pieces of information would help them target and convert more effectively.

....NOTE - content continues below this message

INVITATION

We invite you and your colleagues to join us online as we take the highest rated industry conference online - join us and the elite in the industry at the NEXT GENERATION Contact Center & Customer Engagement Best Practices Conferences!

>>>>> FIND OUT MORE: HERE


....CONTENT CONTINUED BELOW

Once they’d decided on what they thought would be valuable they had a section on the log in page that provided a brief intro into the reasons for doing it and asked customers to take a few moments to update their info and to add some new information. They promised not to sell the list and also asked if they wanted to opt out, and effectively not participate in this exercise. Most people agreed and provided more good info, which was no real surprise as we all know that Canadians are very nice people and not at all boring  (I can say that, I do have the passport).

All they asked people to do was to update their contact details and add five pieces of information and, as a result, their lead conversion rate improved by 8% and their sales to existing customers jumped by 6%. Both numbers translated into some reasonably serious revenue, while also increasing the feel good factor with their customers. And the really great part was that other than agreeing on the information needed and designing a very easy to follow landing page, their costs were minimal and it was all done with very little human intervention. They were using Salesforce.com, so it was really easy to have the updated details find their way into the contact record and then to run a short report that identified who had updated their record. Simples!

However to really make this work you need to adhere to three basic concepts.

  • The information that you gain needs to be actionable to help you make timely offers that can provide immediate recognizable and measurable customer benefits
  • The offers need to be relevant to the customers profile and potential for growth
  • They need to be personalized so that the recipient feels that you have taken the time to understand their needs and wants, which of course is just what you’ve done

Although you may argue that this wasn’t really “Big Data” in the strict sense of the word, it was important data, that had a big impact, especially for a relatively small business, and, as the results showed, had a profound effect on both customers and the company. There are still lots of real, or perceived, challenges about Big Data, not the least of which is agreeing on what it really is, as well as how to gather and use it, effectively and appropriately and that’s a whole other blog.

For my friends in Canada, my moving experience turned into a game changing event for them that led to new insights, and new customers, as well as increased profits and shows that there’s no reason that this type of approach can’t be equally valuable, and effective, for all businesses large or small. This doesn’t mean that it will work that well for everyone, but there’s a fertile seedbed of data out there waiting to nurtured, harvested and used creatively to spot new business opportunities, develop new products and enhance the customer experience. So what do you have to lose by not at least watering the garden every now and then? Only your customers, and your business.

I recently moved house which, in itself is not particularly worthy of a blog post and would probably even fail to excite the most avid Twitter follower, as thousands of people up sticks every day.  But it was that last fact that led to a minor eureka (that’s Greek for “this bath is too hot!”) moment, and the opportunity to help a client increase their business as well as some real revelations about the power and leverage of Big, or even, not so big data.

Once in my new house I had to update my personal details with all of the companies that I patronize, and while there are companies that will do this for you, I’m paranoid enough about identity theft to want to do this myself and know that the information is in the right hands. This relatively simple task turned into a time consuming and frustrating exercise in self-flagellation, as over 50% of the companies that I had to contact had no facility for being able to do this on-line. These dinosaurs, the same ones that make you repeat your details after you’ve slogged through their mind numbing, time wasting, incomprehensible IVR on a 084X number, made me call them and/or send an email, thus wasting my & their time and significantly increasing their cost. Not only that, but none of the people that I spoke to, or responded to my email, seemed remotely interested in finding out more about my circumstances. Had I won the lottery? Inherited a small fortune? Come to my senses and left London? How crazy is that? With the number of people and companies that move on a regular basis, many organizations are missing out on a great opportunity to reconnect with their customers and use the information to enhance their relationship, and improve their profitability.

So it got me thinking about how this could be turned into a positive experience and, on a recent trip to Canada, I spoke to some guys that I know that have a growing software company and who were looking to improve their performance in terms of both existing customers and new business. However, they didn’t want to invest a small fortune and take months, or years, to do it. We looked at what they already knew about their customers and prospects and decided that it was worth seeing if adding some carefully selected, but relatively small pieces of information would help them target and convert more effectively.

Once they’d decided on what they thought would be valuable they added a section on the log in page that provided a brief intro about the mutual benefits of fulfilling the request and asked customers to take a few moments to update their data and to add some new information. They promised not to sell the list and also asked if they wanted to opt out, and effectively not participate in this exercise. Most people agreed and provided more good info, which was no real surprise as we all know that Canadians are very nice people and not at all boring  (I can say that, I do have the passport).

All they asked people to do was to update their contact details and add five pieces of information and, as a result, their lead conversion rate improved by 8% and their sales to existing customers jumped by 6%. Both numbers translated into some reasonably serious revenue, while also increasing the feel good factor with their customers. And the really great part was that other than agreeing on the information needed and designing a very easy to follow landing page, their costs were minimal and it was all done with very little human intervention. They were using Salesforce.com, so it was really easy to have the updated details find their way into the contact record and then to run a short report that identified who had updated their record. Simples!

However to really make this work you need to adhere to three basic concepts.

  • The information that you gain needs to be actionable and valuable to help you make timely offers that can provide immediate and recognizable customer benefits
  • The offers need to be relevant and closely matched to the customer’s profile and growth potential
  • The offers must be personalized so that the recipient can see that you’ve used their information intelligently and that you understand their needs wants and preferences

Although you may argue that this wasn’t really “Big Data” in the strict sense of the word, it was important data, that had a big impact, especially for a relatively small business, and, as the results showed, had a profound effect on both customers and the company. There are still lots of real, or perceived, challenges about Big Data, not the least of which is agreeing on what it really is, as well as how to gather and use it, effectively and appropriately – but that’s a whole other blog.

For my friends in Canada, my moving experience turned into a game changing event for them that led to new insights, and new customers, as well as increased profits and shows that there’s no reason that this type of approach can’t be equally valuable, and effective, for all businesses large or small. This doesn’t mean that it will work that well for everyone, but there’s a fertile seedbed of data out there waiting to nurtured, harvested and used creatively to spot new business opportunities, develop new products and enhance the customer experience. So what do you have to lose by not at least watering the garden every now and then? Only your customers, and your business.

Publish Date: September 16, 2013 1:03 PM

Industry Champion Award Leaderboard

Submit Event

Upcoming Events

Join professionals in the CX and contact center world at our online Expo, part of the 15th annual NEXT GENERATION Contact Center & Customer Engagement Best Practices event.

Attending the EXPO is FREE to any member of our association and you can me... Read More...
 195 
Share

Latest Americas Newsletter
both ids empty
session userid =
session UserTempID =
session adminlevel =
session blnTempHelpChatShow =
CMS =
session cookie set = True
session page-view-total =
session page-view-total =
applicaiton blnAwardsClosed =
session blnCompletedAwardInterestPopup =
session blnCheckNewsletterInterestPopup =
session blnCompletedNewsletterInterestPopup =