According to a new IBM Study released today, over 60% of CIOs seek to improve customer experience and change the way they engage with customers. More than 80% of CIOs surveyed are mining data for customer insights and shifting their focus to marketing, sales and customer service managers who work on finding, winning and retaining customers. Here's a snapshot of how CIOs want to spend more time on customer-related activities:
- +15%: Customer experience management;
- +6%: Sales and New Business Development;
- +2%: Marketing and Communications.
The report is based on face-to-face conversations with more than 1,600 CIOs from 70 countries and 20 industries worldwide. The research, conducted by IBM’s Institute for Business Value, reveals that customers drive CIOs to turn their focus to the front lines. "The study validates the emerging reality that there is no longer any real distinction between the customer experience and contemporary business strategy," said Peter Korsten, global leader, IBM Institute for Business Value. A number of additional CIO insights are available in this detailed report.
One of the most significant ways that IBM is blazing a trail for transforming customer insights into customer-activated business strategies was shared at SXSW Interactive in Austin, Texas. IBM demonstrated its Digital Experience Platform which has the capability of tracking any and all social media metrics of a company in a Minority Report-style dashboard. Leveraging technologies from partners like Mutual Mind, IBM displays a command center of powerful social media analytics that enable “Social Listening as a Service.” Executives can monitor and use metrics from Twitter, Facebook, YouTube, blogs and other social media to promote their brands and fine tune frontline service to meet customer needs in a more timely way.
On average, a company needs to engage online customers within 5 seconds. Otherwise, 30% of potential customers leave and 40% never return. (source: Equation Research, 2010). One of the goals of the Digital Experience Platform is for companies to leverage social media metrics to become more agile with business decisions that reflect the sentiments of customers and employees. Customer Experience metrics also enable companies to personalize products and services to meet and exceed customer expectations. More information about IBM’s Digital Experience is available here.
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