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Becoming a Psychic Brand: Moving from Concept to Reality to Grow Value

December 11, 2013

#customerstrategy

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Today’s Speakers

Elizabeth GlagowskiEditor-in-Chief

Customer Strategist Journal

Ron WincePresident & General Manager

Peppers & Rogers Group

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Event logistics

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Agenda

Why Be Psychic?

TeleTech Psychic Research Study Results

How to Become More Psychic

Q&A

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Why BePsychic?

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Why be psychic?

• Your airline proactively books you on the next available flight, and

• Also updates your car and hotel reservations

On your way to the airport, your flight is cancelled

• …Saving you from long lines and headaches

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Why be psychic?

• Get recommendations from your friends who know the neighborhood

• You need to find a place to eat that will impress your client

• At your fingertips – reservations, directions and the daily specials

Your car is about to reach 60,000 miles

• The car sends diagnostic data directly to service department

• Console screen prompts you to schedule a service appt from the vehicle

• Your preferred car rental ready when you arrive

• …You’re back on the road in minutes

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Why be psychic?

• Your mobile provider reaches out to warn you of the potential overage

You are close to reaching your mobile data limit

• It switches you to a cheaper plan that better matches your usage pattern

• And sends a list of new releases each Friday afternoon

• …You enjoy a movie without worrying about data usage

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Steps to Being Psychic

Adding individual insight and empathy to predictive models that isn’t data-driven and may originate from outside the company to enhance value and relationship

Combining data from across the company to develop predictive models that will feed relevant,proactive outreach that builds value

Reaching out to customers first based on behavior or value triggers, typically developed in one department (care, marketing, retention)

Reacting to customers based on their behavior or explicit feedback

Reactive

Proactive

Predictive

Psychic

Capabilities

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What do psychic brands have in common?

• They create frictionless customer experiences

• They reinvent processes from the outside- in

• They capitalize on new technology

• They empower employees

• They combine their predictive data and tendencies with a human/emotional touch

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Benefits to being psychic

• Your client is impressed

1. Better customer experiences

2. Stronger customer loyalty

3. Higher profitability

4. Increased trustability

5. Improved efficiencies

It’s just good business…

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BAD CUSTOMER EXPERIENCE

GOOD CUSTOMER EXPERIENCE

$$$ $It costs moreto deliver a

bad customer

experience

than a

good customer

experience

It’s good business

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Psychic brands in action

• Your client is impressed

Psychic interactions are beginning to happen…

…but to truly be psychic, companies must untangle the maze of channels, broken processes, and legacy infrastructure to tap into the flow of customer insight that’s out there.

Hyundai’s BlueLink system sends drivers periodic diagnostic reports

Google Now answers questions before you ask them

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Gaps exist between brands and their consumers’ perceptions about psychic powers

Psychic gaps

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Psychic Brands Research Study

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Psychic brands research study

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Psychic brands research study

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Psychic brands research study

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Psychic brands research study

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Psychic brands research study

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Psychic brands research study

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Psychic brands research study

Brand Readiness

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Psychic brands research study

Brand perception:

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Psychic brands research study

Weaknesses: Top gaps in psychic powers vary between groups

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Psychic brands research study

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Most companies are nowhere near psychic

Adding individual insight to predictive models that isn’t data-driven and may originate from outside the company to enhance value and relationship.

Combining data from across the company to develop predictive models that will feed relevant proactive outreach that builds value

Reaching out to customers first based on behavior or value triggers, typically developed in one department (customer care, marketing, retention)

Reacting to customers based on their behavior or explicit feedback

Reactive

Proactive

Predictive

Psychic

Capabilities

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How to BecomeMore Psychic

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*

What does it take to get psychic powers?

• Leadership and commitment

• Strategy aligned across the business

• Ability to capture andleverage data

• Integrated processes andchannels

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How to become more psychic

•Capabilitiy X•Capability Y

•Cross-departmental data•Propensity models

•Capabilitiy X•Capability Y

•Trigger-based rules

•Capabilitiy X•Capability Y

•Data warehouse•CRM systems•Customer behavior data•Customer value data

Reactive

Proactive

Predictive

Psychic

Capabilities

Ron, please fill in capabilities

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Q&A Session

Elizabeth GlagowskiEditor-in-Chief

Customer Strategist Journal

Ron WincePresident & General Manager

Peppers & Rogers Group

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Ron WincePresident and General Manager

rwince@peppersandrogersgroup.com+1.203.989.2200

Tom SchmalzlDirector of Business Development

tschmalzl@peppersandrogersgroup.com+1.203.989.2208@peppersrogers