效率工具
4 ways CIOs can overcome critical operational challenges
Chief information officers (CIOs) are well aware of mounting pressure to do more with less. They operate against a competitive backdrop rocked by tough economic headwinds, rising technology costs, and a competitive talent market.Fortunately, IT leaders are an enterprising group. They constantly look for innovative ways to overcome operational challenges, drive their business forward, and create value for customers and employees alike. Enter hyperautomation and low-code, essential tools for any successful organization.Hyperautomation extends the application, and subsequent benefits, of automation across a much wider surface area of business use cases—leading to reduced operational costs, enhanced efficiency, and improved employee experience.“Gartner® forecasts that the spending on hyperautomation-enabling software technologies will reach $720 billion in 2023. The worldwide market for low-code development technologies is projected to total $26.9 billion in 2023, an increase of 19.6% from 2022.”1Low-code plays a central role in the successful delivery of hyperautomation, expanding development capacity beyond traditional development and engineering teams. With low-code, teams are more agile and productive, and can launch new apps and products in a fraction of the time.Let’s explore four ways CIOs can apply hyperautomation and low-code in everyday operations to reap the rewards.1. Optimize internal processesNo organization is perfect. Across every tech stack, there’s typically at least one piece of sluggish legacy technology acting as a bottleneck, slowing operations and reducing efficiencies.IT teams should pursue a tech stack that’s always on and in which low-code and hyperautomation shine. By taking a low-code approach, IT leaders can transform ailing legacy processes into modern digital workflows—in a fraction of the time and with reduced effort.CIOs don’t necessarily have to upgrade every single piece of legacy tech in their stack. They can simply use low-code to improve the delivery of these apps and services and boost their operational returns.2. Reduce asset lifecycle costsCIOs are constantly on the hunt for ways to improve the efficiency of both their team and the organization. Asset lifecycle is a vital area that affects the entire business—meaning any efficiency gains in this space can significantly improve an organization’s ability to react and scale.Hyperautomation can help CIOs better manage, track, and automate key aspects of the asset lifecycle. Extending the lifespan of assets will decrease costs over time while mitigating the risks of defunct technology and service downtime.End-to-end visibility into processes and systems can enable IT leaders to dive deep into what’s working and what’s not. These insights can even be shared with other teams—such as security, risk, and business development—to improve efficiency across the organization.3. Boost employee productivity and engagementIn the wake of the pandemic and the ensuing great digital transformation, employee experience has surged to the top of the CIO agenda. A great employee experience relies on an organization’s ability to adapt and support new ways of working, such as mobile and flexible environments and self-service processes.This rising demand for employee flexibility and autonomy extends from IT to HR, payroll, finance, legal, and other departments. Hyperautomation can help CIOs and other members of the C-suite work together to create a seamless employee experience from a central employee hub or portal.This can empower employees—regardless of their team, function, or location—to access workflows and apps that are customized to their unique needs, often without any manual intervention or custom coding.Portals powered by hyperautomation also help employees feel engaged and valued through improved and consistent communication. Automation replaces many of the manual aspects of maintaining an intranet, such as delivering relevant company news, updates, and upcoming events.4. Securely accelerate innovationCIOs must juggle dozens of apps (new and legacy) across the organization. At the same time, they’re under constant pressure to innovate and release new apps quickly and efficiently.Low-code can help CIOs empower people to quickly create and launch apps that would otherwise become stuck in development queues. Although rapidly releasing new apps can produce issues, especially around security and compliance, this is also where low-code excels.Armed with the right low-code platform, CIOs can drive their business forward with quick and secure app releases while maintaining guardrails of governance, thanks to built-in security and compliance.Find out more about digital solutions that will help your business grow in our CIO’s guide.1 Gartner Press Release, “Gartner Forecasts Worldwide Low-Code Development Technologies Market to Grow 20% in 2023,” December 13, 2022.GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
Forrester report: LIKE.TG debuts as a Strong Performer in RPA
I’m incredibly thrilled to share that, in our very first year of entry, LIKE.TG has been named a Strong Performer in The Forrester Wave™: Robotic Process Automation, Q1 2023. We believe this validates the impact of our product vision and current capabilities in this market. More importantly, we think it’s proof that our customers are reaching their business goals.Automation: A competitive advantageIn the current economic environment, organizations are investing more in operational efficiency and enhanced experiences for their customers and employees. The need to accelerate automation across the enterprise has created more demand for technologies such as robotic process automation (RPA) to streamline manual work and improve the bottom line as well as the employee experience.The RPA market continues to evolve at a rapid pace. We're proud to be a next-generation RPA provider that sees this important capability as part of a broader platform that orchestrates automation tools to work together seamlessly to unify a customer’s hyperautomation landscape.
Seamless orchestrationForrester evaluated LIKE.TG Automation Engine and solutions from other top providers across three categories: current offering, strategy, and market presence. The 26 criteria included data integration capabilities, low-code/no-code capabilities, and vision. The report also incorporated feedback from customer interviews.In our opinion, our approach to innovation in this space, with a special focus on unifying the hyperautomation landscape for more seamless orchestration, has received recognition from analyst firms and customers alike. Our in-platform integration and automation solution helps organizations quickly connect or automate any system, document, or task with minimal code.Since the Now Platform San Diego release, we’ve seen rapid adoption of Automation Engine to drive digital transformation initiatives across multiple industries, such as financial services, technology, and retail. At the heart of our hyperautomation strategy is people and their experiences:
Automating tasks and processes through a single lens
Applying document intelligence with AI
Optimizing existing processes with recommendations
Discovering new automation opportunities
The Now Platform offers all of these in one experience, including visibility into the enterprise’s often-siloed automation vendor landscape.To be recognized by a respected analyst firm such as Forrester is both gratifying and incredibly humbling. I have our team and our customers’ trust to thank. You can continue to count on our innovation, and we’ll keep watching what you build with excitement and awe.Find out more about why LIKE.TG was named a Strong Performer in RPA in the complimentary Forrester Wave™ report.
Delivering on the promise of innovation: A chat with LIKE.TG and EY
Innovation drives growth. Companies that can seize the promise of innovation gain a competitive advantage—while those that don't risk falling behind.The hype around new technology can be misleading. It’s not always clear what impact new technology can truly have on your organization. To become more agile, leaders need to look past the hype to uncover the realities of innovation.In a recent episode of EY’s Think Ecosystem podcast, host Paul Webb, EY global alliance leader for LIKE.TG, invited leaders from EY and LIKE.TG to discuss innovation and how to operationalize it.Imagining the possibilities in 3 areasWhen you’re caught up in the excitement and possibilities of new technology, it can be hard to separate the buzz from the benefits. But a few innovations stand out as potential game changers that will transform the way companies work in the future.1. Generative AIRecent developments in generative AI have accelerated the hype around this capability. But there is often a gap between the perception of its potential and the reality of its current state.According to LIKE.TG Chief Information Officer Dave Wright, this of-the-moment technology is poised to “fundamentally change the way knowledge gets consumed.” Businesses may have terabytes of data that can inform AI, giving it the potential to surface this information in a way that’s easy to access and understand. This can enable people to gain knowledge and insights without sorting through data and documents.However, people often overestimate the abilities of generative AI. It can easily perform tasks such as creating summaries, agenda items, and structures. But it isn’t yet great at answering questions. In fact, it can “hallucinate” by providing blatantly inaccurate information as facts.Generative AI could affect many different industries and fields of play. The technology has limitations, but it’s changing rapidly. The improvement in accuracy in the models that came out in recent weeks—compared to those that came out 100 days ago—is remarkable.Amy Lokey, senior vice president of product experience at LIKE.TG, adds that businesses should orient their use of AI in relation to their desired outcomes. “Generative AI is not an end in itself,” she says. “It’s a faster means to an end. What is the distinct value that we offer, and how can generative AI accelerate those pathways?”
2. Augmented realityAugmented reality (AR) has the potential to provide an omnichannel experience as we move through the world, Webb says. By allowing multiple sensory inputs, AR gives users the ability to speak and gesture rather than typing commands using a keyboard or touch screen.Across different types of devices, AR can allow users to experience technology using the best interface for them in that moment, Lokey adds. This will create different ways of engaging for people with different abilities and preferences, enabling the right device at the right moment for how each person wants to engage.3. Quantum computingAnother innovation that has received a great deal of attention is quantum computing. A quantum computer would use quantum mechanics and specialized hardware to solve problems vastly more quickly than traditional computers.While there are still some physics problems that need to be solved before actual quantum computers become a reality, this technology could transform our lives and the ways we do business.Experts expect quantum computing to have a huge impact on cryptography in particular. “Once quantum’s mainstream, you can kiss everything you know about security goodbye,” Wright shares. If quantum computing becomes a reality within the next few years, after decades of continued research, it will have a substantial ripple effect on business areas such as compliance.The takeaway? Businesses should be preparing now for the implications of this technology, thinking through what actions they might need to take to get the benefits without exposing themselves to avoidable risks.Operationalizing innovationHow can businesses actually move forward with leading-edge technologies? EY and LIKE.TG leaders suggest three focus areas:
The experience: Wright and Lokey agree that user experience is key to adoption. It’s not enough to replicate existing processes in a digital format—you have to create an experience that’s better than what you had before. When innovation can improve the experience of doing work, that’s when you can boost productivity, adoption, and engagement.
Continued testing: It’s not about transforming once. In today’s world, we’re constantly changing. These changes have to be applied to the whole company, not just one business function. It’s important to keep testing new technologies and experimenting to discover what will work in your organization.
Prioritized outcomes: Wright advises leaders to define their desired outcomes before implementing a new technology. “How can you take these innovations and use them to deliver the results you want? If you start with the outcome, you can apply the best technology to achieve it,” he says.
Find out more about how LIKE.TG and EY are working together to push the reality curve of innovation.
5 considerations for building generative AI trust
Katie Schmidt, senior manager of AI/machine learning user experience research, contributed to this blog.Years of user experience (UX) research and customer feedback have shown that building trust is integral to success with AI. With generative AI (GenAI), trust is more important than ever.At LIKE.TG, we know that when using GenAI capabilities, moments of potential trust touch all personas—from admins setting it up to developers using CodeAssist to agents using it to eliminate manual repetitive tasks and requesters seeking fast solutions to problems.For example, agents use the Now Platform to help them solve tickets for requesters. There’s a tremendous opportunity to use GenAI capabilities to help agents work more productively and reduce mundane, repetitive tasks (that often lead to high turnover).No one likes to feel like their purpose at work is to deal with frustrated, angry people or to copy and paste from a knowledge base article into a chat because a customer couldn’t find what they were looking for. GenAI has the potential to help agents focus on more meaningful work.One way we’re making that reality is through expanded use cases for GenAI across all workflows. Using GenAI, our new case summarization solution automatically recaps IT, HR, and customer case information to help accelerate resolution times, minimize manual processes, and boost agent productivity.Keeping humans front and centerDespite its many benefits, GenAI presents heightened concerns about security, regulations, data access and privacy, and cost, as well as overreliance on it in lieu of critical human oversight.That’s why it’s imperative that we design and develop products using human-centered and responsible AI guidelines. Prioritizing human experience will produce the desired GenAI impact for organizations’ employees and customers.AI should augment and enhance how people work—but not fully automate their tasks or replace them. Based on UX research we’ve conducted with GenAI, we’ve come up with five key considerations to guide a human approach. These all tie into the broader goal of helping people build trust and feel in control.1. ExplainabilityAssume people are uncertain about AI. Manage expectations, explain concepts and terms, and use experiences that are familiar to people where possible. People need to be able to understand and interpret predictions made by AI, particularly in the context of their work, where they’re accountable for the output. AI shouldn’t be “magic.”2. TransparencyOverall, workers are very receptive to trying out AI at work but want to know when AI is the source. Clearly identify when AI is present. Users need to understand what AI did and why, and when necessary, users should be able to figure out how it works (e.g., data sources).3. Ability to provide feedbackHumans recognize that AI isn’t perfect, but it’s important to be clear on its limits. This allows people to stay in control, provide feedback, and review the outputs from GenAI for accuracy. Let people mute, emphasize, or redirect AI and its predictions. Make it easy to stop AI or to undo its actions quickly and with minimal to no harm.4. Onboarding and building confidenceYour AI strategy should include onboarding, as change management is needed. Some onboarding and confidence building may be designed into the product, but the business offering the new UX must set expectations and take steps to help people adapt to it. Businesses should focus on quick wins to see early value.5. Varied user acceptanceIn our journey with AI at LIKE.TG, we’ve seen the change in people's comfort, acceptance, and reliance on it over time as they build trust and confidence in it. More people in various roles and industries can try to potentially benefit from GenAI, but they must see the value in it early on.Recognize that people will approach the use of AI with different mindsets, characteristics, beliefs, and levels of willingness to use it, particularly in work versus in their personal lives.At LIKE.TG, we always put people first. GenAI is no exception. We’re committed to learning and growing with our customers and providing human-centered AI best practices that prioritize building trust as we navigate this future.As LIKE.TG CEO Bill McDermott says, “Trust is the ultimate human currency. It’s earned in drops and lost in buckets.” We make sure our AI products continue to help build that trust, one drop at a time.Find out more about LIKE.TG generative AI. And sign up to participate in our AI user research.
6 innovation trends and what they mean for your business
In my conversations with the LIKE.TG partner community, there’s one thing I’m consistently asked: How do we work with you to adapt to the rapid speed of innovation and change? My answer is simple: To truly innovate, you have to understand the trends behind the innovation.LIKE.TG recently collaborated with Harbor Research to scan the global marketplace. We wanted to understand the widespread digital transformation and rapid technology shifts that are fueling growth—and driving significant complexities—for organizations.I’m happy to announce the release of our inaugural innovation trends report. We’ve uncovered six key technology trends that will affect the ways organizations reimagine work, processes, and value creation.The report also highlights the implications of cloud computing and AI, and how they’ve revolutionized resource creation and management. Let’s face it, as the digital landscape shifts, new technologies emerge—and so do opportunities to enable growth.With that in mind, let’s look at the six innovation trends we found and what they mean for your business:1. Exponential innovationEvery new technology is a building block to the next innovation, but organizations can’t future-proof technology on their own. They need partners to help them bring cutting-edge solutions to market.2. Shared data architecturesSiloed data architectures are no longer sufficient for the volume of data coming into the enterprise. Data architectures will have to be restructured into open systems for more proactive insights and faster time to value.3. Automation technologiesAI, machine learning, and automation-driven algorithms are leading forces in the world of work. By integrating smart sensors, machines, and information systems, organizations can create a “digital nervous system” that makes work autonomous and drives better decisions.4. New modes of work with the right toolsCompanies are no longer bound by four walls—they’re distributed ecosystems. Organizations can use intelligent automation to build apps that work across multiple clouds while easing development complexity.5. Any user as a developerAs software becomes increasingly complex, organizations need to make application development more accessible. With a low-code platform, any individual at any skill level can become a developer and build products and solutions. This can in turn help reduce overall costs and increase value.6. Expansive partner networksScalable partner networks help enterprises effectively manage the rapidly evolving scope of distributed workforces, technologies, and applications. Harbor Research found that more than 50% of data needed for optimization will come from outside an organization.Partnerships are critical to help organizations extend value through knowledge, relationship sharing, and co-creating net-new solutions for unique customer needs.All six trends are vital for the LIKE.TG partner ecosystem as we work toward continued success, growth, and innovation together. By combining a single platform that can orchestrate the entire technology chain with the thought leadership and intellectual property of our partners, the opportunities are truly endless.Check out the full innovation trends report. It includes partner case studies on how we’re addressing our joint customers’ most pressing challenges in each of the six areas.
Quickly get started with generative AI on the Now Platform
There’s no doubt that generative AI and the productivity it promises have captured the world’s imagination. We’ve talked about applying AI to just about everything—from those soul-crushing tasks we never want to do again to dreams within our grasp for the first time.Goldman Sachs estimates that generative AI could add nearly $7 trillion to global gross domestic product (GDP) in the next decade. While the potential for generative AI to improve human productivity seems almost limitless, the industry buzz is distracting, which makes it challenging to get started, especially with enterprise scale and reliability.How to get started with generative AILIKE.TG has made significant, strategic investments in AI in the past six years, including nearly a dozen acquisitions and a specialized AI development environment for our engineers to quickly build and test AI capabilities.Our focus on AI has been purposeful and long term, so we can uniquely meet our customers’ needs in this moment. Customers see the impact of these investments. For example, BT forecasts $31 million in savings by leaping toward AI-led operations with ServiceNow.Since May, we’ve launched multiple AI capabilities that allow customers to use both general-purpose large language models (LLMs) and domain-specific LLMs from ServiceNow. They’re built for enterprise-level use cases, processes, and security and trained for the unique needs of agents, employees, customers, developers, and IT administrators.With today’s announcement of Now Assist, LIKE.TG’s generative AI experiences, we’ve infused native generative AI capabilities in all workflows on the Now Platform®. Now Assist incorporates generative AI features such as case, incident, and agent chat summarization; virtual agent; and search.These capabilities can be applied to a broad range of scenarios and functions so that every persona, from employees to agents to developers, can harness the power of generative AI. Customers also benefit from an improved self-service experience, which can lead to higher case and incident deflection and cost reduction.
With the Now Assist experiences, available Sept. 29 in the LIKE.TG Store, customers can deliver value quickly by applying generative AI where the works get done:
Now Assist for IT Service Management provides summaries of incidents for speedy IT team handoffs and problem resolutions. It can also help generate and update work notes.
Now Assist for HR Service Delivery improves HR team productivity and efficiency, as well as employee experiences, through instant summaries and conversational chats.
Now Assist for Customer Service Management reduces manual work and helps resolve customer issues by rapidly generating summaries for cases and chats.
Now Assist for Creator empowers developers of any skill level to build apps fast—developers can generate code from text and code prompts.
Accelerating time to valueFeedback from more than 150 customers using early versions of Now Assist shows positive results: increased self-service for lower case count, faster resolution times, improved customer satisfaction and agent productivity, better post-case documentation and closure, and more.Customers are also finding speed to value. Several customers report they’ve implemented generative AI solutions with LIKE.TG in mere weeks. With LIKE.TG’s frequent release schedule and innovation on a single platform and single data model, many customers can achieve rapid value acceleration with generative AI.Additionally, as customer zero, LIKE.TG has gone live with more than a dozen internal generative AI pilots, including IT, customer service, and engineering use cases. The early results show significant productivity savings and increases in agent and developer satisfaction.How LIKE.TG generative AI pricing worksWe’ve also designed the pricing and packaging of our generative AI capabilities so that customers can realize value quickly. Our guiding principles have been:
Value: Enable customers to easily capture the unparalleled value created by our Now Assist experiences.
Flexibility: Create a scalable model that allows customers to grow and innovate in this fluid market—and allows us to continue to learn and adjust.
Simplicity: Make it easy to understand and fit the way customers buy today.
Customers currently on a LIKE.TG® IT Service Management, Customer Service Management, or HR Service Delivery Pro or Enterprise solution can buy Professional Plus or Enterprise Plus add-ons to get access to generative AI capabilities in the Now Assist experiences.The Pro Plus and Enterprise Plus add-ons are also available for customers with industry solutions licenses, including Telecommunications, Technology Providers, Financial Services, Public Sector, and Healthcare.With Now Assist for Creator, developers and administrators can supercharge their work with intelligent code recommendations. These text-to-code generative AI capabilities are built on our own LLM and trained by LIKE.TG engineers so that developers can confidently burn through backlogs and get value faster from LIKE.TG investments.Developers can get started with Now Assist for Creator right away by purchasing the Creator Plus license. No base license is required.All Pro Plus, Enterprise Plus, and Creator Plus package add-ons are purchased by seat. Each seat enables the user to execute a certain amount of generative AI “assists.” Incident or case summarizations, for example, are called assists. Higher-value, more complex interactions require more assists, whereas simpler, frequently used interactions require fewer.Don’t worry about running out of assists: By design, the initial entitlement should be all you need for your generative AI journey. If more generative AI capacity is needed at some point, customers can purchase additional assist packs.It’s time to stop the hype and put enterprise-ready AI to work. With the LIKE.TG intelligent platform for end-to-end digital transformation, businesses everywhere are already saying yes to entirely new ways of working with generative AI.Find out more about how you can put generative AI to work in our Vancouver release webinar.
Put humans in the loop to generate real value from generative AI
Generative AI has shaken up the business and tech world, but the best tech relies on world-class talent to address the fundamental problems that haven’t been solved yet. At LIKE.TG, we know the most constructive and value-creating strategies for generative AI are grounded in embedding human experience and expertise into the core capabilities.In the Now Platform® Vancouver release, we focused on using generative AI to help deliver value in three key areas: productivity, experience, and agility. This involves incorporating humans in the loop to address challenges that employees experience every day.New tech, same peopleGenerative AI generates value only if it solves specific problems for specific people. In our software design process, we define these people according to personas, such as developers, support agents, or line-of-business end users.We track what these different personas need based on continuous feedback from our customers and our employees. The identified needs tend to reflect common desires across personas: higher productivity, user-friendly or frictionless experiences, and greater agility.This persona-driven design process has led to Now Assist—our generative AI experiences. Now Assist defines how some features, such as code completion for developers, target one specific persona and how others, such as case summarization, apply to a range of personas, from IT support to customer service to HR, with nuances of execution.This approach helps ensure that all Now Assist capabilities fit within the same workflows the personas are used to and familiar with.All this helps maximize the chances that the people who use generative AI will distill consistent, lasting value from doing so. One of the best ways to test this is within an organization—which we did by deploying Now Assist among our IT, HR, and customer support teams to gauge and learn from their feedback.It's worth noting that this persona-based approach informs development across all the features in the Vancouver release. Accounts Payable Operations, for example, automates invoice ingestion and purchase order matching to help deliver faster, more accurate invoice processing.The product forms the final piece of the workflow from sourcing to payment for one of our newest personas—those in procurement and supplier roles. Like most of our new features, it was built based on extensive input and validation from customers experiencing the same challenges every day.
Experience, the differenceTo solve specific problems for specific people, generative AI needs to deliver an experience that warrants people’s trust. This is best served by a humans-in-the-loop model, where users review all generative AI outputs before accepting them, as well as the processes and sources that surfaced those outputs.This minimizes the chances of AI mistakes or hallucinations causing actual harm and builds users’ confidence in the technology. It also helps improve the tech’s fidelity.Another way to keep humans in the loop is by tapping into their experiences and expertise to train the AI that eventually assists them. Large language models (LLMs), which power generative AI, are most effective when trained on domain expertise related to the specific problems we seek to solve.In the case of LIKE.TG domain-specific LLMs, this expertise comes in the form of LIKE.TG code snippets from our developer ecosystem—literally decades of experience submitted by experts in their field. When taken at scale, these code snippets capture developer best practices and contextual approaches that training on open-source data cannot replicate.From our tests so far, these kinds of specially trained LLMs perform much more accurately and intuitively on tasks such as translating natural language into well-formed and scalable LIKE.TG code, compared to LLMs trained on open-source content. Specificity, backed by uniquely human expertise, makes all the difference.Solutions people valueFinally, we need to ensure we balance generative AI capabilities with the quality of experience offered to users. That means creating consistency across the organization, as we aimed to do with our Now Assist capabilities, which can be applied in one go from IT to HR to developers.It also means developing a frictionless user journey from installation to deployment at organizationwide scale. The ability to turn ordinary text into code (or an entire app) will fail to impress if the interface takes minutes to load. A poor experience all but guarantees failure of adoption, no matter how powerful the solution.Ultimately, all this underscores the importance of keeping humans in the loop with generative AI—from identifying the specific problems it must solve to training it on the best practices for finding solutions to ensuring it delivers those solutions in a human-friendly experience. Generative AI will generate value only if it helps real people. That means we humans must play our part.Put generative AI to work to generate value in your organization with humans in the loop.
A GenAI roadmap: How LIKE.TG puts AI to work for people
At LIKE.TG, we’re at the forefront of integrating generative AI (GenAI) into the heart of enterprise solutions. In my time with the company (and back when I was with Apple, Microsoft, and Salesforce), I’ve seen up close what innovation can do when it solves practical, real-world challenges. That’s precisely our focus.By imbuing cutting-edge GenAI models across the robust Now Platform, we’re enabling supercharged experiences that help people and organizations work smarter and more productively while creating unprecedented value.If that sounds lofty, it’s because the potential is truly immense. Whether autogenerating knowledge base articles, fulfilling service requests through tailored conversational experiences, or equipping developers of all skill levels to rapidly create powerful business applications, GenAI comes to life when combined with our platform’s proven system of action.As we enter a new era in which technology can amplify human potential like never before, LIKE.TG is leading the charge to put AI to work for people.Intentional movesLIKE.TG has one of the most ambitious GenAI roadmaps in the industry. In the last seven years, we’ve intentionally executed more than 10 strategic AI acquisitions to gain world-class AI technology and talent. Thanks to these investments, we’ve been able to make enterprise GenAI capabilities generally available.These acquisitions, all replatformed on the Now Platform, equipped us with critical, complementary AI capabilities that positioned us and our customers well for the recent AI surge. From machine learning to natural language understanding (NLU) to AI-based search, the next logical step was adding GenAI. And when the technology was ready, so were we.
An exquisite recipeWhat’s our recipe? One key ingredient is the data intrinsic to the workflows. The Now Platform gives us deep insights and a remarkable ability to tailor AI outputs for the specific needs of our customers in various domains and industries.Next, our domain-specific large language models (LLMs) are fine-tuned to grasp and navigate the complexities of the enterprise environment. Powered by cutting-edge NVIDIA graphics processing units and tooling, these models enable us to offer organizations highly intuitive and intelligent applications that both comprehend intricate requests and generate pertinent, context-aware responses.Another important benefit of our approach is data security. With our Now LLM models deployed at the core of the Now Platform, customers can rest assured their data doesn’t leave our platform.Our recipe wouldn’t be complete without the special sauce. For us, it’s simple: We believe AI is only as powerful as the platform it’s built on. Business users need AI to power actions across the enterprise. Our workflows are designed to do just that.Built on a humble start in IT, LIKE.TG today spans multiple enterprise domains and industries, connecting the enterprise end to end as a system of action. Add AI—specifically GenAI—and magic happens. Suddenly, employees and customers are empowered with the tools they need to get their work done seamlessly, efficiently, and happily.This potent combination of unique data, specialized LLMs, and our intelligent platform positions LIKE.TG to be first in the market with robust enterprise GenAI applications, setting new benchmarks for what businesses can achieve with AI.People-first approachLIKE.TG AI isn’t designed to chase industry hype. It’s crafted with the intention of addressing real-world challenges, delivering tangible benefits, and placing users at the center of our design.Our commitment begins with self-service—where innovation meets the simplicity of everyday tasks. With the release of Now Assist, LIKE.TG's GenAI assistant, we're reshaping the self-service experience for both customers and employees.Integrated with the Now Platform, Now Assist delivers a seamless, intuitive interface that enables users to find solutions with unprecedented ease, at any time of day. Imagine a future where you don’t have to spend hours trying to fix a customer service issue because Now Assist helps you find answers on your own. That means everyone wins.Now Assist is already empowering users to:
Get conveniently summarized knowledge base articles
Order catalog items
Submit forms without leaving their Virtual Agent interface
Now Assist enables great experiences that help people solve critical problems in the enterprise. For example, it helps eliminate busywork, allowing agents to focus their time solely on tasks that require their expertise.Agents currently spend valuable time on tedious tasks, such as getting up to speed on a case and concluding it with resolution notes. Now Assist presents a useful, summarized case history and autogenerates resolution notes, saving agents time and effort—and allowing them to boost organizational knowledge while quickly getting to the next end user seeking assistance.Innovation doesn’t stop there. For developers, Now Assist is more than AI; it's a companion that simplifies coding and the construction of other platform components, such as flows. By speeding automation, an organization can finally reduce its growing IT backlog and drive more innovation, even with a small number of developers.
People-first AI requires a people-first approach. LIKE.TG Chairman and CEO Bill McDermott often says, “Trust is the ultimate human currency.” As AI redefines how we interact with technology, developing trustworthy, responsible AI for every customer and LIKE.TG user is central to our innovation strategy.We champion human-centered guidelines that ensure users understand when and how to use AI within our offerings while maintaining control. We involve a varied team and use diverse data sets to mitigate bias and promote equity. We communicate openly with customers about AI usage and provide transparent, comprehendible documentation.Lastly, we ensure accountability through rigorous oversight and governance structures, including external expert consultations and internal committees, to oversee AI integration.A research foundationMany teams at LIKE.TG—including the LIKE.TG Research team, which includes world-renowned AI researchers—are stacked with AI expertise. Their acumen helps ensure LIKE.TG stays on the vanguard of building innovative enterprise GenAI applications.Our deep research foundation allows us to move quickly. For example, we had already demonstrated LIKE.TG-built GenAI-based conversational capabilities in our research lab in 2022. When ChatGPT launched at the end of that year, we were ready to craft our own Now LLM-infused product roadmap to help our customers improve productivity using enAI.Fast forward to today, and we’re still developing cutting-edge LLMs, such as StarCoder2, in responsible, transparent ways. Our focus areas of innovation are chosen by platform, product, and research teams curating the best capabilities that drive value for our customers.Our research projects are currently focused on multilingual and multimodal models—AI that can understand various languages and inputs, such as videos, images, and time series.They also include web agents, which can act on a user’s behalf within a web application. Instead of the user needing to click fields and buttons, the web agent listens to the user’s intent, expressed in natural language, and understands the right sequence of actions (clicks, typing, etc.) to accomplish the desired goal.This requires AI to understand both natural language and how web applications work in order to translate user intentions into actions.We’re excited to continue advancing the Now Platform to meet the needs of enterprise customers, both today and in the future.Find out more about how LIKE.TG helps put GenAI to work for people.
LIKE.TG is a Leader in Digital Process Automation Software
I’m excited to announce that LIKE.TG has been named a Leader in the Forrester Wave™: Digital Process Automation Software, Q4 2023. We credit this acknowledgement to our performance and strategy in governance, end-to-end orchestration, and AI.Additionally, we believe this recognition is made possible by the unwavering support of our customers, their innovative use of the Now Platform, and their valuable feedback shared with analysts.According to the report, “LIKE.TG scores high on strategy, and planned enhancements leverage its platform strengths...” We scored a full 5.0 out of 5.0 in four criteria within the digital process automation (DPA) strategy category: innovation, roadmap, partner ecosystem, and adoption. We had the highest scores possible in nine criteria total.To us, the results further validate our strategy of providing customers with a comprehensive platform for intelligent automation while embracing third-party integration for a more complete view of return on automation investment.End-to-end orchestrationMany organizations have dozens of automation tools scattered across their IT estate. This results in fragmented operational visibility, limited cross-team alignment, and inconsistent return-on-investment (ROI) calculations.The tools remain disconnected from each other and ultimately undermine a successful end-to-end orchestration approach. According to the Forrester report, “DPA customers should look for providers that have top scores for the most important DPA deep needs, such as end-to-end orchestration.”At LIKE.TG, we understand the importance of an end-to-end orchestration of processes. We believe our platform is unique in its ability to empower customers with their automation goals for today and tomorrow.The Now Platform serves as a central engagement layer for modern and legacy systems through out-of-the-box and customizable API and robotic process automation (RPA) solutions. Importantly, with LIKE.TG’s commitment to governance standards, developers can craft automations within the framework of their company’s data model and security policies.The Automation Center capability provides a unified and vendor-agnostic view of all workflow automations. Here, developers can create and improve existing automations and measure their ROI.Generative AIFor LIKE.TG, “strong integration, security, and AI capabilities are evident,” as recognized in the Forrester report. For years, we’ve provided AI technologies that are fit for purpose, such as Document Intelligence and Process Mining. This evolution has taken a massive leap forward with the advent of generative AI capabilities in Now Assist.Why does a generative AI tool matter in an automation strategy? Generative AI is particularly adept at organizing unstructured data into useful information. But to transform an enterprise, generative AI needs automation to make that information truly effective.Because the Now Platform, complete with simplified third-party integration, operates end to end for workflow automation, users can marry the power of taking action with the productivity of generative AI.Looking forwardWe remain dedicated to our end-to-end platform approach and are deeply committed to continuing to innovate in automation and AI. We believe by continuously enhancing our solutions, our customers will fully realize the benefits of automation, AI, and digital transformation.In closing, I’d like to thank our customers for their partnership, feedback, and innovative thinking. I’d also like to thank Forrester and the broader analyst committee for their continued input. While the momentum around our generative AI capabilities and our end-to-end platform approach to intelligent automation is exciting, the best is yet to come for our customers.Read the full Forrester Wave™ report.
3 ways to maximize efficiency with hyperautomation
Efficiency is the bedrock of success for any organization. In the continuous pursuit of streamlined operations and increased productivity, LIKE.TG Automation Engine serves as a valuable asset, enabling LIKE.TG platform owners and automation leaders to quickly and cost-effectively connect or automate any system, document, or task with minimal code.Automation Engine is part of a broader hyperautomation strategy that organizations need in order to maximize efficiency in the current and future market landscape. Hyperautomation is focused on automating the business as much as reasonably possible, evolving people’s work to enhance their experience and impact, and applying the right tool for each need—all on a single platform.Let’s explore three ways Automation Engine can help drive a hyperautomation strategy.1. Seamless workflow integrationCompanies are built on departments, which lead to siloed departmental systems, such as customer relationship management and enterprise resource planning. Departmental leaders then implement automation tools, such as robotic process automation (RPA), to automate processes.These “islands of automation,” or siloed automation tools, automate at the departmental level only. Even if they're connected across departments by Centers of Excellence, they're not connected to other automation tools and technologies. Both siloed departmental systems and islands of automation act as barriers to hyperautomation.Automation Engine connects siloed departmental systems and islands of automation to make hyperautomation possible. Work flows seamlessly across the enterprise through a complete set of integration capabilities, including API integration for modern systems and RPA for legacy systems.Additionally, Automation Engine connects siloed automation tools from any vendor into a cohesive whole through Automation Center, a centralized automation operational and analytics hub.Discover how features of Automation Engine, including generative AI, can help connect workflows across the organization in our hyperautomation landscape webinar.2. RPA excellenceBesides integrating LIKE.TG with legacy systems, RPA automates the “last mile” of manual, repetitive tasks that may still be slowing down workflows. These tasks could be any repeatable sequence of actions that humans have to do in Windows apps, web browsers, or legacy system UIs as part of a larger business process.Explore RPA best practices and key strategies for deploying RPA and maximizing cost savings within the context of your broader hyperautomation strategy.3. Accessible low-code automationWe live in an era where automation should be readily accessible to everyone. Through its low-code app development and automation capabilities, App Engine and Automation Engine together empower technical and business users to create new applications while upholding governance standards.This empowerment fosters increased collaboration between lines of business and IT, further breaking down silos within organizations and removing barriers to process improvements.For example, Hancock Whitney Bank successfully incorporated low-code as part of its hyperautomation strategy. Find out how the bank achieved this and the valuable lessons learned in the process.Gain deeper insights into how Automation Engine can maximize efficiency, enhance experiences, and empower your hyperautomation strategy.
How nonprofit organizations are using emerging tech to do more with less
Most businesses are driven by traditional ROI: return on investment. Nonprofit organizations operate by a different kind of ROI: return on impact. Whether they’re working to save lives, the planet, or their communities, nonprofits across the globe measure impact by their ability to fulfill their mission.What the most successful for-profit and nonprofit organizations have in common is a clear understanding of, and dedication to, their purpose. That’s why business leaders everywhere can learn from the purpose-driven innovation that characterizes so many of these organizations.In the LIKE.TG nonprofit special report, we set out to understand how nonprofits are acting as incubators for innovation by using emerging tech to do more with less. Here’s what we found.Generative AIA group of nonprofit leaders and tech experts shared how they’re putting generative AI (GenAI) to work today.Em Fackler, chief innovation officer of the International Rescue Committee, envisions adopting GenAI for its potential in the nonprofit sector. “We’ve identified a few areas where we think AI can have a significant impact on our work,” she says, specifically proposal writing, collaboration, and knowledge management.“We’re in meetings most of the day,” she adds. “Imagine if an AI tool could generate the minutes from those meetings. That would save huge amounts of time.”Low-code app developmentThe mission of Ndlovu Care Group, a nonprofit in South Africa, is to serve the health and nutritional needs of children in Limpopo, one of the country’s most impoverished regions.The organization partnered with LIKE.TG in 2022 to create a low-code app its healthcare workers could use to capture data about a child’s progress while out in the field. The app has helped Ndlovu reduce the malnutrition rate from 45% to 21% for more than 5,000 children.Data analyticsNdlovu is just one of the many nonprofits innovating both intentionally and on the fly. We talked with seven nonprofit leaders, who shared real-world examples of how they’re using everything from GenAI and chatbots to social media, data analytics, and geo-mapping to support their mission without breaking the bank.WeSeeHope, which works to teach children in Africa skills for a successful and sustainable future, latched onto the power of data analytics to help fulfill its mission. The organization uses data to prioritize the programming it provides.“Our dashboards also provide transparency so that WeSeeHope supporters trust that their giving has the desired impact, going to those that need it most,” says Phil Wall, founder. “In terms of staff retention and motivation, the existence of a highly visual, data-driven app has been profound.”Tech partnershipsThe report also examines the power of public-private partnerships, including LIKE.TG’s ongoing collaboration with Welcome.US, a nonprofit dedicated to supporting refugees who want to connect with sponsors in the United States.“The drive to create and deliver impact—not through profits or dividends, but through lives saved, communities transformed, and environments protected—is what gets me up in the morning,” says Vanessa Smith, president of ServiceNow.org.We hope this special report inspires organizations to innovate with passion and better understand the importance of the work nonprofit leaders do every day to make the world a better place.Find out more in the nonprofit special report.
3 ways to use generative AI
Generative AI has been gaining awareness and popularity since the launch of ChatGPT in November 2022. According to McKinsey, one-third of organizations have already embraced the technology for at least one business function.The research further found that 60% of organizations that have adopted AI are using generative AI for content creation in various business areas, including product and service development, marketing and sales, and service operations.It’s clear that embracing AI and generative AI is no longer a choice for organizations—it's a must. Implementing generative AI for better self-service for both customers and employees can help increase deflection rates, which translates to huge cost savings.Let's explore three ways to use generative AI in any business.1. Employee empowermentAI is an ally. By assisting with and augmenting repetitive, mundane tasks, it frees people to focus on higher-value job duties and activities that require human intellect.Generative AI possesses case and chat summarization capabilities that streamline and enhance workflows. For IT and HR agents, the automated ability to condense intricate details into digestible formats boosts productivity and helps keep employees well informed.In addition, generative AI plays a vital role in helping employees easily find the information they need and quickly get their work done. Find out how to put this game-changing technology to use in our Empowering your workforce with generative AI webinar.2. Customer connectionsAI revolutionizes customer experience by using advanced algorithms that personalize interactions and predict preferences. This leads to heightened customer satisfaction and loyalty.Generative AI-powered chatbots, such as LIKE.TG Now Assist for Customer Service Management, offer 24/7 support for customers, enabling them to receive prompt and efficient assistance when they need it.The technology also equips customer service agents with case summaries to help them quickly get up to speed on customers’ concerns so they can provide rapid resolutions. Putting people first explores the transformative impact of generative AI on customer experience.3. Accelerated application developmentFour pivotal forces are reshaping application development: a scarcity of skilled developers, mounting cost pressures, demand for increased agility and efficiency, and urgency to accelerate productivity.Generative AI offers a way to transform the application development experience. Now Assist for Creator, for example, provides generative AI-driven assistance and guidance to developers. Its code-generation and flow-generation capabilities are designed to streamline the coding process to expedite software creation.Find out how in Generative AI to boost your low-code developer experience.
Should you build a large language model?
In the realm of generative AI (GenAI), large language models (LLMs) have taken center stage. Their ability to generate humanlike text holds vast potential across industries. But should organizations invest their resources in creating and training their own LLMs, or would they be better off relying on a software as a service (SaaS) vendor like LIKE.TG?Challenges of building in-house LLMsWhen deciding whether to invest in in-house LLMs, it’s important to consider the possible challenges associated with that process. Let's explore the questions and concerns businesses frequently encounter when considering in-house LLMs.1. Responsible AI concernsOrganizations need to address critical questions regarding the responsible aspects of building LLMs, such as:
How is the training data sourced?
How do we mitigate bias?
How do we reduce the severity of hallucinations?
2. Resource allocationDeveloping state-of-the-art LLMs often demands extensive resources in terms of both infrastructure and human expertise. One challenge organizations face is whether they can secure and allocate these resources effectively enough to yield a cutting-edge AI solution.3. Training dataBeyond the technical aspects involved in generating LLMs, access to a substantial amount of high-quality training data is paramount. The breadth and depth of this data serves as the foundation of the models and significantly influences their quality and accuracy.In a typical scenario, organizations have access to only their own data. However, many businesses’ knowledge bases don’t offer sufficient training data.4. Maintenance and progressWith technology advancing at breakneck speed, an initial big push into creating an LLM is simply not enough. Even after investing heavily in development, organizations often find newer, better LLMs that supersede their efforts. Therefore, an investment in in-house LLMs is an ongoing commitment.5. Time to valueFostering LLMs in-house and then adding skills training on top of them can take substantial time. This prolongs the time before businesses can derive tangible value from their investment. In a competitive landscape, this delay can be a significant disadvantage.Alleviating key pain pointsGiven the complexities of building an in-house LLM, it may be wiser—and more cost-effective—to take advantage of an existing architecture. LIKE.TG offers a feasible way to help organizations drive productivity and address these concerns without overhead.1. Ensured AI responsibilityLIKE.TG is committed to continued investment in next-generation AI, building foundation models responsibly. Domain-specific LLMs ensure the training universe of these LLMs is much narrower, reducing hallucination range.Organizations can rely on LIKE.TG GenAI, knowing that its foundation models strike a balance between risk and domain-specific requirements, such as application development and customer service management.2. Comprehensive resource availabilityWith the acquisition of Element AI, LIKE.TG fortified its capabilities, joining an exclusive group of organizations that have professionals who can build state-of-the-art foundation models. Moreover, a strategic partnership with NVIDIA provides access to essential resources, such as high-demand graphics processing unit computing power and LLM training tools.3. Robust training data setLIKE.TG bolsters the foundation of the LLMs by training them on its own data, fostering a comprehensive, diverse data set that enhances the models’ quality and result relevancy.Importantly, LIKE.TG respects customer privacy and preferences. We use only anonymized customer data with customer permission. This amalgamation of wide-ranging data—not readily available in an in-house setup—can be a significant advantage.4. Ongoing maintenance and technological advancesLIKE.TG's commitment to innovation helps ensure businesses get access to cutting-edge AI solutions and receive ongoing maintenance and upgrades. This approach saves organizations from the painstaking process of trying to stay ahead in the rapidly advancing AI landscape.5. Accelerated time to valueOur Now Assist GenAI experiences allow organizations to see value rapidly. Businesses can access powerful GenAI capabilities just by turning on Now Assist, avoiding the lengthy process of building and training LLMs in-house.The bottom lineLIKE.TG’s emphasis on research, strategic partnerships, and a stable foundation of AI embedded in its platform makes it an ideal choice for organizations seeking a responsible and reliable LLM for LIKE.TG workflows.For most organizations, selecting a vendor-generated LLM like LIKE.TG's is the best approach to harness innovation, increase the speed of delivering value, and remain competitive in an ever-evolving marketplace.Find out more about how LIKE.TG helps accelerate productivity and time to value with GenAI.
Let Now Assist and Microsoft Copilot show you how to put AI to work
At LIKE.TG, we’re on a mission to put AI to work for people in every corner of the enterprise. To that end, LIKE.TG and Microsoft recently announced that we’re teaming up to launch generative AI (GenAI) solutions that will unlock AI capabilities, help boost employee productivity, and deliver value quickly.By integrating Microsoft Copilot with LIKE.TG® Now Assist, we’re making it easier for employees to get the help they need, when and where they need it.Industry-leading innovationLIKE.TG and Microsoft are laser-focused on collaborating on transformative AI solutions for the enterprise. As a result, customers can expect industry-leading innovation from two GenAI powerhouses.I recently sat down with Katharine Kennedy, general manager of the LIKE.TG business unit at Microsoft, to discuss the Now Assist-Teams integration in greater detail.“This announcement represents a significant milestone in our joint commitment to unleash innovation for customers with transformative technology to help revolutionize workplace productivity,” she said.“By seamlessly integrating advanced AI capabilities into existing workflows, we’re redefining how businesses operate in this new era of AI-driven automation and intelligence.”
4 ways AI-first organizations can become industry leaders
Generative AI (GenAI) can be divisive. While its potential to revolutionize industries is undeniable, ethical concerns, job displacement fears, and privacy concerns may make leaders hesitant to implement it. However, amid these debates, one thing has become increasingly clear: AI-first organizations are spearheading success in their industries.To prosper as an AI-first organization, AI needs to permeate daily work across the business. GenAI has the ability to help people work better, smarter, and faster. Let’s take a look at how industries can put AI to work for people.1. Take an AI-first approachWith the push to provide better care for more people at less cost, healthcare providers are struggling to meet expectations. GenAI can assist with and augment routine tasks such as documentation, transcription, and patient handoffs to give overworked staff more time for patient care.To gain insights into how GenAI can improve employee and patient experiences, Brian Solis, head of global innovation at LIKE.TG, led a panel discussion with leaders from Accenture, Babson College, and ServiceNow.2. Be future-readyFrom optimizing the supply chain to predicting customer needs, GenAI can help manufacturers improve operational processes. Many manufacturing companies have already begun experimenting with the technology.In Be the future-ready manufacturer, experts from Deloitte and the MIT Sloan School of Management explore the importance of a targeted and open-minded GenAI approach in gaining a competitive edge.
3. Focus on customersAs the financial sector continues to evolve, banks are increasingly turning to GenAI to enhance operations, improve customer experience, and drive innovation. Although some may believe GenAI is too unpredictable to be used in high-risk organizations, it can actually help banks increase transparency and mitigate risk.Taking a customer-centric approach to implementing GenAI can help banks improve both customer satisfaction and employee productivity. Find out how banks can deliver compliant and efficient experiences with GenAI in Customer-centric experiences in banking with AI.4. Deliver exceptional serviceAs the pioneers of the AI era, technology companies are at the forefront of using GenAI to improve their products and services. Now is the time for tech professionals to do what they do best: be innovative, experimental, and adaptable.GenAI has immense potential for technology companies. The key is to start small and build slowly. Join Adam Cheyer, co-creator of Siri, and other tech leaders as they discuss how to Deliver better experiences in the tech industry with AI.We’re on the cusp of an exciting time with GenAI. Put AI to work for your industry to unlock the exponential power of an AI-first enterprise.
Not a customer revolution, it’s customer evolution
The fourth industrial revolution is the crucible of customer evolution.As long as people have needs, perceptions and aspirations, change is inevitable. More so in business, where every idea is conceived and crafted to address people’s needs, and add value to their lives. Without this kernel of need, neither creativity nor innovation can exist.People’s needs fuel development.In the late 1700s, the need to make three square meals available and affordable to a growing population set the ball rolling on the agrarian revolution. Soon people were able to save more money, which was now available to purchase other things they needed, like clothing. This fuelledbreakthroughs in spinning and weaving, which made textile manufacturing more efficient and expedient. People believed in the viability of these changes and investors backed the setting up of huge factories. People who once farmed or worked in small trades at home or close to home, saw the opportunity for gainful employment and moved closer to these factories to work there.The first industrial revolution had begun.People’s perceptions drive purchases.Emboldened by benefitting from the industrial revolution, people had begun to address their perceived needs, and not just the basics of food and clothing. Consumerism was nascent. People put their faith in industrialization and factories mushroomed to produce more goods. These goods needed to reach people and here arose the need for efficient energy sources and transportation systems.Inventions like the steam engine and the discovery of electricityprovided solutions, and ushered the second industrial revolution. Though markets were stocked with consumables, people were largely unaware and marketing plugged this gap with simple advertising.The focus was to make people aware and keep them informed about consumables on offer and the needs they met.People’s aspirations inspire inventions.The social changes of the first two industrial revolutions raised the bar on people’s expectations. They were more secure and confident about meeting their basic and perceived needs. This level of well-being gave people the opportunity to address their aspirational needs. Primary among them was the need for a better quality life, one with more time on hand to enjoy it. People needed a way to speed up mundane and automate repetitive tasks. This inspired the invention of the computer and the emergence of computing, facilitating automation and data-driven processes. The third industrial revolution went on to change the way people worked and lived.Marketing and advertising too, had to evolve to keep pace with digitization and the changes it brought to the electronic media.We’re in the midst of Industry 4.0or the fourth industrial revolution, which began twenty years ago with a new idea called the Internet. The technology then was rudimentary. People relied on the dial-up modem that worked at a snail’s pace, and iffy connections that promised scant stability. Not surprisingly, the Internet was perceived as an ‘also ran’ or an add-on advertising medium that could at best offer more dynamic content than print. It was seen as less of a disruption and more as a medium of marketing.Customers are peoplewhose evolutionary journey as customers, has only recently gained momentum. For nearly 300 years customers were seen as people who would find businesses when they needed specific products and services.Until the end of the 1900s, customers were completely reliant on business to address their specific needs. The story of customer evolution began with the technological advances made in the last twenty years, like mobile telephony and the Internet. In retrospect, we knowthese advances and breakthroughs together with digital convergence was the driving force of the fourth industrial revolution. IT changed the face of communication and the way customers were perceived by industry.Customer 1.0 witnessed the birth of the dot.com.People were not tech savvy but they were curious and extremely patient. Whether it was for the dial-up connection or a webpage to load, people waited, willingly. So at first, businesses stuck to brochure-like websites to market and promote their goods and services. If there was a focus to this effort it was to get the customer to make a phone call or visit the store. Even the search engine was seen as a simple tool that could sift through piles of digital brochures and scanned images to help people find what they were looking for. Whether Web-crawler, Alta Vista, Lycos or Ask Jeeves, search engines could only help people when they knew exactly what they were looking for. Businesses continued to believe that people who felt a need for their products and services will move to find them. To this end, marketing and advertising had gone from informing people about products, to establish and reinforce to the people, their needs for these products.Customer 2.0 was empowered by the worldwide web.The web had become a communication channel that was quick and interactive. Businesses got creative about using the Internet as a pivot to increase sales and provide support. While in their new avatar, people turned to information for a better advantage.They explored their choices and looked for new options that had earlier been too unlikely. It wasn’t long before ‘internet-businesses’ like Lyft, Amazon, eBay or match.com mushroomed, challenging traditional business models and economics. All the same businesses still perceived their customer base as a multitude of faceless people, a one-size-fits-allbeing. Though challenged by change and the need to innovate, businesses still continued to believe that the people who needed their product or service would find them and reach out.Customer 3.0 plays hard to get.As an empowered being who has made the transition from acquiescing to companies, to being a harbinger of change in the consumer market, this customer can afford to play hard to get. They are widely connected, well-informed, and part of a generation that shares experiences about anything and everything. Businesses looking to stay relevant know how important this evolved customer is. Customer 3.0 loathes the idea that one-size-fits-all and gives mass marketing and mass media a wide berth. Free from the restriction of having companies deciding when, where and how they can make their purchases, they demand much more and better. This customer expects business to come find them and when they do, these customers expect to be engaged effectively and immediately. Customer 3.0 is in the driver’s seat and business is gearing up to keep pace.To find and engage Customer 3.0, businesses must:Acceptthat CX and purchase decisions are measured at all customer touch-pointsAdaptoperating models based on the standpoints of your customers.ActionCX with advances and trends in retail, gaming, search and mobile technology.Defining Customer 3.0as an individual would be both right and wrong. This customer is very individualistic. At the same time this customer is not of any specific age, social class or gender mix. However, they are similar in their ability to accept, adopt and apply new technologiesto satisfy individual needs.Recognising Customer 3.0is not difficult even with their diversity of personalities and profiles. These people share distinctive traits and display similar attributes that set them apart from previous generations.Well informed.They are comfortable with new technology and media and clued-in about the value and power of information. This customer is in the habit of gathering information thatranges from features, prices, testimonials and cx stories to help them be better informed about their choices before they make a purchase decision.Price savvy.These people know that price is not always about money. To them it’s more about better value for money. Surprisingly, it has nothing to do with brand loyalty. The prize here is in getting more value for a better price. For this savvy customer that can be quite a rush and it can get addictive quite quickly. This leaves them in a state of perpetual yearning for the next good deal they can make.The loyalty marketing association, notes only 21% shop for brand overprice and 64% of people will go 5-10 minutes out of their way to secure a betterprice.Socially visible.No other generation of people has worked so hard at being socially visible or gone so far to present themselves as they’d like to be perceived by the world. Social media makes this possible. It is a behemoth that can decide the fate of people and business. Though there’s no telling what people will take to, it’s quite clear it needs to be something that grabs their attention and/or imagination. There’s seemingly little to explain why Orkut took a divewhile Facebook soared? Or who will come out on top of the online shopping business? This new media is a great leveler and on it bad news travels faster and makesits own rules.Social media accounts for 20% of PC time and 30% of mobile time.100 million+ people take a social action like, likes, shares,comments, on social media every week.Smartphone users spend 25% of their browsing time on social networking sites.Faith in the crowd.The opinion of others has become increasingly important to this new customer. Especially when it comes to purchase decisions and popular choices about anything that business or media propagates about goods and services. They’d much rather trust other customers than take the word of business. Ratings and likes can be the difference between choosing one business over the other. There are some who argue that this customer can be easily manipulated with the right triggers. The counterpoint is that this customer is media-literate and prefers the opinions of real people to avoid manipulation.According to Nielsen’s Global Trust in Advertising report, which surveyed more than 28,000 internet respondents in 56 countries:70% of global consumerssurvey indicated they trust messaging online – an increase of 15% in fouryears.Shoppers prefer online ratings and reviews by a 4:1 margin to advice from store employees.80% of people participate in online communities to help others.Only 14% of customers trust advertisements but 78% of customers trust peer recommendations.Needs validation.The reason social media will remain relevant for a long while to come is because the new generation of customer likes to self promote. For them this is an almost primal instinct, to feel alive and relevant in the world they choose to be connected with. No matter if it’s not directly in person, but once removed across a tech platform. Facebook status updates, like Twitter and Instagram posts are testament to the fact that human beings crave acknowledgement, approval and appreciation. Social media taps into this need for self validation.Facebook has over one billion monthly active users and 2.5 billion contentshares per day.Wants it here and now.Obsessed with “being in the now” and driven by the fear of missing out, this customer cannot wait. With the Internet serving to save time and money and social media powering the voice of the customer worldwide, these customers want what they want and they want it now. They subscribe to the belief that it is the customer’s prerogative to decide on time and place of purchase or delivery. Plus with the convergence of tech they also expect round-the-clock support.Forrester (2010) has suggested up to 57% of US consumers are likely toabandon an online purchase if an answer to a question is not immediatelyforthcoming.No security concerns.Data security and privacy does not concern many young customers today. Born and raised in the era of rampant marketing, advertising and promotion, they have made their peace with it. Even in the face of potential threats likeviruses and phishing attacks, Customer 3.0 freely uploads large tracts of data about their personal lives. They feel no twinge of regret abouttheir personal and professional experiences in the public domain. This devil may care approach is not restricted to events but also includes payments and purchases. The converse of which was true in the last decade when customers werewary of internet payments.Once you’ve traced the evolutionary journey of Customer 3.0 it is not difficult to understand this diverse collective of individuals, unified by their willingness to accept change and adopt new ideas with elan. This can serve as a base framework for businesses looking to build viable customer personas to craft better customer experiences.
Making the most of generation Y
Life, after IT, has changed a few gears and people have adapted to the new pace. We live differently than we did a decade ago. We feel empowered with information and accept that technology is ubiquitous. The lion’s share of the credit goes to the real change-makers among us: themillennials, or Generation Y.Born between 1985 and 2000, the oldest millennial today is 34, while the youngest is just 19.Their parents—Generation X— sawcomputers for the first time, in their teens. While millennialswere born into a world increasingly reliant on computers. In fact,computer science was fast becoming a part of thecurriculum in many schools at the time.Millennialsgrew uplearning aboutcomputers,hadmoreaccess to them and spent a lot more time with technology. This makes them doubly vital to business. They’re not just present and potential consumers; they also present the talent pool business will hire from. Over the next two decades, theconsumer base and the workforce everywhere will be made up ofmillennials and their successors, Generation Z,who have only just turned 18,but are more immersed in technology than their predecessors.Are we geared for a millennial way of life?With this turn-of-the-millennium generation taking center stage,every aspect of life and business worldwide will feel their impact. In fact, analysts projected that by 2020, millennials will contributeto 30% of all consumption of goods and services.These projections had businesses galvanising to adaptto the challenges technology posed, even as it democratizedknowledge andinformation.At first they scaled to have a presence where consumers spent the most time.Then they reached out via media that consumers had more faith in.Nowthey’re gearing up to meet changing needs and perceptions, as well as new demands and expectations.The willingness to embrace new trends, understand them and learn to work with them is whathelpedthebusinessorganismbe the first toevolve.The First Respondents to change.Though marketing and sales are at the forefront of business, the first effects of changing trends and lifestyles are feltatcustomer service.This isn’t surprising, since customers tend to be more willing to engage when they reach out for help. Even when they are less than pleased with your product or service, they are likely to be forthcoming. Customer service is effective when it is driven by agents who are patient and take the time to understand the customer and find out what they need, want, and expect from you.This is why the willingness to learn and the ability to roll with the punches is central to thecustomer serviceskill set. An efficient customer service team:senses changes in customers’ needs and expectations,shares this information with the business through established channels,andworks toeffect relevant changes in their delivery processLet’s turn proclivity into a leading edge.Fingers do the talkingwhensmart phones and new media lets us be more hands-on with communication. The growing consensus is that it’s easier to type or text than talk. Especially in unpleasant circumstanceswhen text allows us to be once removed, or gives us a little breathing room and insulation from direct conflict. With text and email to the rescue, communication can be more efficient and less messy, to quote a millennial colleague.It’s easyfor someto believe allmillennials are uncomfortable with phonecalls, or that they consider them invasiveand awkward. Butmany millennials already workwithout issue,in roles that requirethem to attend tofrequent phone calls.Participation in the digital discoursemeansmillennials are nearly everywhere online. From Twitter toReddit and Skype, this new generation ishyper-connected, and communicate over multiple channelsanddevices simultaneously.Infact, millennials are already quite adept at being on many platforms at once. They know firsthand thatan online presence is a must and that a multi-channelapproach is paramount to success. They know howimportant it isto respond via the same channel the customer uses to reach you. Changing channels to respond is akin to speaking out of turn or context, and compromises content. They are also aware that though the digital domain is asynchronous, your digital presence must be seamless and provide the same experienceacross all your platforms.Encourage self-serviceto the generation that has a do-it-yourselfattitude and takes great pride in it.Millennials prefer to be independent andsolveproblemson their own, rather than being a bother to others.However, when it comes to service that they’ve paid for, millennials can beimpatient and demand immediate attention. This is why it makes practical sense to encourage the use ofself-service tools. This way the do-it-yourself attitude and the impatience can both be leveraged to increase efficiency and reduce complaints about time taken, in one fell swoop.Finding common groundis important for this generation that spends most of their time online. They have faith in numbers and rely on the crowd,which meansother people’s opinions and experiences have begun to take precedence. They believe there is more truth in the first person accounts of ordinary people than in the sweeping statements of media and business. The smart thing to do is to develop an online community thatnurtures ongoing conversations about your product or service. Nurture this community to be a space forcustomers to express their thoughts, share their experiences,and help each other and themselves. This way millennial customers can use community pages to solve their problems, and the millennial service agent has more time to respond to customer concerns that require personalized attention.Personalize to connectto millennials because they loathe the idea of a one-size-fits all service process. You need tomake the effort toremember their names, their product information, and their service history.They expect to be remembered as a basic courtesy anddemand effective service in a jiffy,especially when they’ve paid for your product or service.Millennials also like to engage with people and look forward to building rapports and relationships.Personalized interactions with millennials can range from referring to them by their first name, to tagging them in a post online about valuable customers.Let millennials know you genuinely care about them and they’ll be loyal customers whoinfluence others to become your customers. Show millennials you’re committed to their well being and you will have a loyal and committed workforce working with you.To set the detractors asideThere is some concern about how new tech and the smartphone have seemingly distanced people in real time. Yet millennials meet their social circle more frequently than Gen X did at the same age. The difference is millennials meet several times a day, but they do this online and via electronic devices. This is why businessmust be present in the online space, to connect with them. Only a skeptic would look askance at the opportunities that new technology presents. Especially since thiskind of tech immersion has been seen before. People have been just as enthralled when new inventions like the radio and television capturedpeople’s imagination and lives. As for those who find the millennials to be a little young or lacking in maturity; the elders among them will soon bridge this gap as every generation has done before them.When social media ingratiated itself into customerservice, CX suddenly became a social phenomenon. You don’t need to reinvent customer service to attract the youngest customers. You just need to shift gears to keep pace with themillennial mindset at customer service inthis age of customer 3.0.
6 techniques to collect customer feedback
Only oneout of 26 customers willfreely offer their opinions about a given product or service (Huffpost). So, when a customer’s complaint is ignored, remember that about 26 customers are potentially being lost at the same time, who simply choose to move on silently.One way to fix this is to assure your customers that they have a voice, and that their voice is being listened to.For your customers tospeak up, you will have to grab their attention at the right time using the right channel with the right questions.Acustomer feedback survey is a valuable tool that lets you gain a better understanding of your customers’ requirements,determine their level of satisfaction, and measure their loyalty.A survey allows customers to express their opinions and present their side of the story. However, when asking for feedback it is important that you choose the best way to approachyour customers.Below area fewdifferent touchpoints commonly usedin the SaaS industry to collect feedback:– Logout pages– Emailcampaigns– SMS surveys– In-product widgets– Socialmediacampaigns– Mobile app notificationFeedback through logout pages:Surveys displayed in logout pagesare a non-intrusive way of collecting feedback immediately aftera customer has engaged with the product. There are 2 ways in which a logout survey can be displayed:1.On-Click2. Post LogoutOn-click survey:In this method, the survey appears as a pop-up as soon as the user attempts to logout. A substantialnumber of responses can be collected with this method, and information about the user can be pushed fromwithin the product.There is no need to nudge the user to fill in personal information. However,some users might feelthat it’s a hindranceto the logout process.Post-logout survey:Onceusers logout of the product, they are directed to a survey landing page instead of the home page.There is nohindrance and noGDPR compliance issues. However, there may be fewer responses,as customersmay not waituntil the end of the logout process, andcustomer informationneeds to be collectedwithin the survey.Email campaigns:Email campaigns are a cost-effective method for streamlining your process of collecting customer feedback. They let you connect to your customers quickly and can provide relevant information for better analysis.Here are some ways toinclude your surveys in an email:1.Hyperlinked text or image2.CTAbutton3. Embed codeSMS survey:78% of US consumers say that receiving a text message is the fastest way to reach them.SMS surveys have 8% more response rate compared to email surveys.Surveys sent via text messages can be personalized and customized and sent to a targeted list of valued customers,butthey require access to personal information (phone numbers) as a barrier of use.In-product display:These surveys give you the chance to collect real-time customer feedback while allowing the customer to be more open about their feedback.They provide quick access and fast, guaranteed responses. Surveys inside your product can be displayed in any of these 3 ways:1.Pop-up survey2.Widget survey3. Collapsible surveyMobile applications:In-app notifications provide the same benefits of an SMS survey, and the user can be reached without contact information. One restriction is that it can only be used to collect feedback from customers who have installed mobile applications.Thetechniques mentioned above have both pros and cons, and should be chosen based on the profile of your customers and the type of survey you want to be displayed. Here are a few common things to remember:Always test the flow before pushing it liveDonot display the survey to customers who have already participatedKeep track of the responsesFollow up as soon as possibleGet consent from customers for follow-up
What makes CX hard to measure and what you can do to improve it
The discussion about the best way to evaluate and improve CX values has gained momentum, yet many businesses are still not sure if it is all justawell crafted spiel. This is not to say they don’t believe that customer experiences matter or have value. It just means they’re not sure how to measure it, or which team should be given the responsibility to evaluate and improve it.This blog aims toexamine the complexities in determining CX values and explores the various steps businesses can take to improvethem.What makes evaluating CX so complex?The very essence of CX makes it difficult to measureusing data from one single point ormetric. CX is the sum of all of a customer’s experiences with a business, and cannot be whittled down to the value of any one interaction that your customers have with your business. CX scores reflect the overarching value of your customers’ relationship with your business and all businesses are aware of how important customer relationships are.This is why every business, even within theSaaS fold, spends a good deal of time and money developing and shoring up their CRM applications. It’s no secret that effectively managing your customers’ relationship with your business translates to revenue and growth. So while businesses everywhere understand that CRM is critical for business, not all of them believe that CX is crucial for success.Assigning a value to CX is mystifyingbecause it involves attributing values tosubjective qualities, like how a customer feels about a business or their perceptions about thebusiness’sadvertising and marketing. It also has to do with their comfort levels in accessing or navigating through your website, the purchase process, and after-sales service, which is all relative.People are unique, and as such every customer feels differently about things.So what isexcellent in one customer’s opinion could be a totaldisappointment for another.Then comes the fact that CX issusceptible to moods, current events, locations, peers, and pure need—not to mention wants and expectations. In a phrase, CX is more about thewhole composition of the business, while CRM is the element that measures business operations and growth.Fixing responsibility for CX is difficultwhen marketing, sales, and support teams alltake credit and responsibility forthe customer. Ideally this should make for a moreunited front. But when people and teams work in dedicated silos and share data sparingly, every request and interaction can lead to a debate or worse, a critique of function, operations, and the business process. Though technology has made it possible to integrate relevant data from all teams withaffordabledata management tools, few businesses actually use the opportunity it presents.So how exactly can businesses improve their CX values?Understand the role of customer serviceCustomer service is ideally positioned to make customers happy. After all, they are the team that customers call when they are not happy with your product or service. Therefore, the savvy business will focus on listening to understand their customer service teams. This move will give your business a better understanding of your customers and what they need. It will also help you find out what your customer service team needs in terms of data to deliver better service to your customersand make their day.This means more happy customers and better CX in the same smile.As more and more customers leave delighted with your customer service, you will begin to see an increase in sales and better interactions that can help with valuable product development. It also means that endorsements become more forthcoming and marketing efforts gain better traction. Not to mention that customer service teams can forge ahead with better customer satisfaction scores.Invest in customers for brand loyalty.All business—despite the advancements in technology—is about people. Whether it’s B2B or B2C, it’s about people, or what some in the marketing world are beginning to call the fifth P.(Funnily enough, early day marketers always had people in their sights and knew people were the quintessential P in the marketing mix. But even as you read this piece, the marketing world is busy creating new Ps. Thereis payment, personalization, positioning and packaging, to namejust a few that are being touted. This list will quite likely keep growing until the marketing mix is a long list of Ps. But back to P for people.)On any given day, people have feelings that can be hurt or assuaged, and the effective communicator knows how important it is to reach out, respond, and address people so they feel acknowledged and appreciated.Once again, the savvy business follows a simple communication strategy of constant and cogent communication across all channels:social media, mass media, internal and external correspondence, advertising, and marketing collateral. Though the approach to communication via each channel may be different, the message needs to be consistent. It must also echo the culture of the business, be relevant, andbebelievable. There is also the benefit of being prompt with responses to discrepancies in service. Even the best business can have a bad day, and people, even more so. Address these adversities promptly and honestly, and it will pay back in brand loyalty that is more enduring than any campaign.Make all your teams responsible for growth.Rather than relegating your teams to work in their silos, create opportunities for them to work with each other and grow to be your agents or partners. Provide them with the time to learn more about your products and services so they can market and sell your brand whenever they can.Some business processes mandate service agents must up-sell or cross-sell to every customer that reaches out. Most customers calling for support would prefer to be helped thanbe marketed to. However, if your agents are made fully aware of what your business offers, and are equipped with the right skills and training, they could be effective at doing some relevant marketing or sales to customers who call in.If you can extend the opportunity for teams to interact and understand more about what they each do, soon every employeewill be a sales and marketing agent who can generate viable leads.Welcome the complaint as a learning opportunityMany businesses prefer to forget about bad customer reviews or misunderstandings by leads and customers, and put it down to it either being the customer’s fault, the vendor’s mistake, or even the competition’s smear campaign. The savvy business, on the other hand, knows that every complaint is a likely source of information about how to get better at our jobs. It could be as simple as the language we use, the process we follow, a fail-safe we could introduce, and yes, sometimes remembering to followup.With new technology and service automation, we rely on the data to inform us every step of the way. Yet data needs analysts to read and measure it so managers can understand these metrics. The prudent manager needs togo through the data each quarter to get to know their customers, seek out the highs and lows of every data point in the metrics, and match it to customer requests and calls. Analysts can interpret the data and identify trends about where business is falling short or doing well. But it is managers that decide what direction marketing, sales, and support needs to take to either correct or optimize CX based on this understanding.To improve your CX values, let customer service take the lead, but not before you set up a core group with representation from all teams, including office administration and facilities management. Be patient and practice empathy with teams and customers.Integrate customer data and make it accessible to teams via managers where necessary, especially at service where customers call in to you. Make sure your C-suite recognizes that it is your customer service team that can be the much-needed bridge between your product development, sales, and marketing teams. After all, when all is said and done, it is customer service that your customers are calling for help.If your customer service team is good enough to help your customer, they’re certainly good enough to help you improve your customers’ experience.
To acquire new customers, listen to old customers
Everybusiness needs to increase its customer base to survive and grow—which is why customer acquisition isoftenthe focus of marketing strategies.Unfortunately,acquisition effortscanmake a dent inyourmarketing budgetswithout giving you anysignificantbumpinearnings. That's because customer acquisition needs to be bolstered by customer retention before it can translate into sustained growth.Take stock of the numbersMarketing and sales teams are under constant pressure to deliver bigger and better numbers in terms of new leads, customers, and revenue. Often, their sole goal isto optimize and expedite the customer journey from inquiry to sales, sign-up, or subscription.This is where senior management and the C-suite need to step in.It's important to setlong-term goalsfor your salesteams,drawing onrelevant data from other departments like customer service, tech support, billing,andcommunity building.Consideringpoints of interaction in the customer journey,and paying keen attention tomissteps,can provide theperspectivenecessaryto build better CXand attract loyal customers.Make sense of the numbersDatadoesn't show you everything.Toadd real value to the data,youneed to see thenumbers for the living, breathing people behind them.Only whenyouhumanize the datawill youunderstand the truth about customer needs and expectations.How can you be sure you understand what people want from their experience with your company? How can your business build rapport with potential customers?Look to your customersPast and current customers provide anessentialopportunity to learn.Your customers are diverse personalities,and getting to know themhelps youcraft more accurate customer personasto drive your marketing and CX strategy for the future.To get the most valuable information from these customers, be sure to:Find outas much as you can about your currentcustomers' journey from when they first noticed your business to the moment ofpurchase and beyond.Trackyour past and currentcustomers' journeysassessing every interaction and exchange across every channel, until the time theydrop out, renew, upgrade,or advocate purchases from your business.Follow upwith your past and current customers through carefully implemented personal feedback to understand and relate to the emotions and reasons that inspired their choices.Optimize feedbackEvery interaction your customer has with your business is feedback.Always be ready to listenandunderstand.Supportis a great opportunityto do this, becausethe customer initiates the interaction with the intention of conveyinghonestfeelings.No amount of brand-building and campaigns can build an emotional connection better than a well-managed support ticket—even if it does not end with an effective resolution. What really counts is how your customer feels before, during,and after the interaction. This is trueforbothB2B and B2C businesses.Past and present customers can tell you how they felt at various pointsduringtheircustomer journey.Their emotions and reactions toyourcontent and processesat each point of interaction with your businessprovidesvaluable insight. Correlate this with information gleaned from support and you will know what it takes totailor contentthatdeliversvalue and providesimpetus.Earning customer loyalty and brand equityis abonus.
What business mergers and acquisitions mean for customers
A new economic climate is emergingwith some businesses thriving, others going under, and a few getting acquired. Whether business acquisitions are actually good for a company is often debated. But the effects on the customers are rarely discussed.Mergers and acquisitions (MA) are not innately bad, but most acquired companies' goals are to deliver value to shareholders—not customers. Generally, after an acquisition, companies are not trying to improve their services or products to get more customers. As noted by theAmerican Customer Satisfaction Index (ASCI), they are simply buying a larger customer base. Larger does not always mean better. You can buy customers by going on an acquisition spree, but you cannot buy their loyalty.For most big players, it is not easy to focus on building new products from scratch all the time. Acquiring smaller players allows them to increase their business size. However, it is the customers who have to face the repercussions ofthese deals. According to ASCI, "on average, the acquiring company experiences a 3% drop in customer satisfaction over the initial two-year period post-merger."Classic MA stories that negatively impacted customersDozens of deals are a testament to the fact that acquisitions do not always mean better experiences for customers.Boeing's shift away from its engineer-led roots contributed to 346 fatalitiesBoeing was known for engineeringsupremacy and its devotion to building quality aircraft. They were a "customer-first" company and their philosophy was: You want it? We'll make it and we'll make it the best.Anticipating a commercial jet boom, Boeing merged with McDonnell-Douglas, which was a "money-first" company. It turned Boeing into a stock market trove. The top management was replaced and the company lost its culture of innovation, quality, and engineering excellence. Boeing was no longer led by a team of engineers, but by an investor who adopted cost reduction strategies. Without any aviation background, James McNerney held the reins of the company.The two recent crashes of Boeing's most trusted aircraft, the 737 Max, were a result of cost cutting in RD, engineering, and pilot training. When the 737 needed an upgrade to adapt to new infrastructure and fuel efficiency requirements, Boeing added to the outdated 737 designs instead of building new ones. This resulted in the production of a faulty plane that cost 346 lives.When private equity firms made matters worsefor a retail giantEvery American's inner child broke when Toys "R" Us closed over 800 stores during what was called a "retail apocalypse". After 60+ years in business, Toys "R" Us failed to innovate in the age of ecommerce and social media. Instead, itwent private to reimagine itself.Under the new management of private equity (PE) firms, the effects of cost reduction took a toll on the employees ofToys "R" Us—30,000 employees were laid off. A shortage of employees and under-investment in stores affected both operations and customer satisfaction levels. Employees manipulated customer surveys to protect themselves from being laid off for under-performance.Toys "R" Us suffered from management myopia, believing it was the center of the toy industry and nothing bad could happen to it. The PE investors mounted up billions in debt, sold off assets, cut costs in the wrong places, and drove the company into bankruptcy.The largest buyout in history was so bad, even Warren Buffet lost $870MTXU Corp., an energy firm, faced growing objections from officials and consumer groups to its spiking prices and investment in new coal power plants. It was sold to a consortium of PE firms for a $45B debt and was renamed Energy Future Holdings (EFH). The PE firms jumped in at once as they predicted gas prices would rise. The upshot? gas prices fell sharply.The management at TXU had projected that if the buyout went wrong, it could wreak havoc on the business,as well as its employees and customers, but they took the risk anyway.EFH was still generating electricity from coal-fired plants, while a new efficient method of mining technology was being adopted by its rivals. Electricity from natural gas plants became cheaper, making it difficult for EFH's coal plants to compete. EFH lost customers to cheaper rivals. Warren Buffet, who invested $2B in its bonds, called it "a big mistake." PE investors squeezed every dollar out of the company to finance the buyout and swaddled it with debt it couldn't repay, forcing it into bankruptcy.The acquisition of T-mobile US Inc. by Sprint Corp. was a monopoly in the makingAmericans have limited mobile phone service options. The Sprint and T-mobile merger meant a wireless monopoly that could potentially be horrible for consumers. Less competition and no market disrupting offers would mean stiff pricing. Analysts believed regulators would reject the deal.However, in 2020, a federal judge ruled in favor of the deal despite evidence that it would destroy competition, raise wireless data prices, and eliminate redundant jobs, resulting in layoffs. T-Mobile and Sprint made their case by arguing the merger would benefit consumers, but Sprint's customer satisfaction ratings have plummeted since the deal was first announced.As reported by ACSI, Sprint's customer satisfaction score fell to 65 in 2019, down from 70 a year earlier. T-Mobile, by contrast, had a score of 76 across both years—the highest among the top U.S. wireless operators. But in the wake of the 2020 merger, things started to change for T-mobile as well. T-Mobile seemed to be losing one of its major competitive edges: customer service. After years of higher ratings than all its major rivals, T-Mobile slipped from best to worst among the three major carriers.eBay's miscalculation of customer needs led to it selling off SkypeeBay bought Skype hoping the VoIP service would improve communication between its members. eBay's management intended to introduce video communication to its customers. The outcome? eBay users rejected Skype as a mode of communication and considered it unnecessary. People seemed to like the anonymity of eBay—for most users, email was good enough to organize their transactions.The eBay-Skype deal suffered from other problems too.eBay overestimated the value of Skype and acquired it for $2.6 Billion, but Skype generated only $7 million in revenue. Additionally, the cultural differences between the two companies were too significant to overcome. Ultimately, eBay's failure to integrate Skype into its operation properly, lack of managerial involvement, and misunderstanding of the target audience led to it divesting in Skype.The balance sheet is always seen as the ruler in the world of business, and the economic climate is forcing organizations to prioritize profits over customer needs. It's time peoplenoted the reality of businesses who choose to acquire, rather than innovate. It often comes at the cost of the customer.
Ingredients of customer loyalty: customer success, satisfaction, and happiness. But what matters the most?
Customer satisfaction and how sales plays a role in it.AWalker studyfound that by the end of 2020, customer experience will overtake price and product as the key brand differentiator.I moved to a new house recently and among other basic amenities I looked for an internet provider in the area. My existing service provider didn’t serve the new location. First scenario: I promptly applied for a new connection with a local vendor. They promised that their connection would be available everywhere within 24 hours.Strangely, I didn’t get the connection for the next 3 days. I received no calls and no follow-ups, and my calls were sent to customer support (who weren’t very supportive after all). When I called them, they couldn’t even track the status of my request and I ended up placing several calls, each one a new ticket.Second scenario: My search still on, I got approached by another local vendor who somehow found out that I could be a potential customer. They offer me a free and quick installation and got things running within 24 hours. I’m glad I found them and am quite happy with their service.Third scenario: Even after my initial happiness, I jumped at the chance of changing my service provider, after a few months of service. A new service provider was in town that made me offers related to the location. I swiftly changed over to them. A few months into the service they curated a personalized package with my data usage in mind.In the next few months I faced some connectivity issues which they solved promptly. Not only that, they gave me special privileges like an upgrade for being a loyal customer.I stayed with this provider for the rest of my stay in that house. When I move to a new location, the first thing I check is whether they are available in my new area.Now let’s analyze my customer journey:In the first scenario, it was just bad service. The company didn’t follow up on their word and ended up losing a potential customer.That relationship was pretty straightforward. It ended right where it started.The second scenario is a bit more complicated.I was happy with their service. It was prompt and gave me what I wanted. It made me happy, but I still wanted more value.So in the third scenario, as soon as the next vendor approached me with a relevant, value-added service, which they had anticipated and served at the right time, I took the plunge.Then they continued to keep me satisfied with their service, because as a customer I’ll always be looking for more value for my money.Customer satisfaction is when your customer’s needs are getting met every time. The offer has to fit the customer profile right. In my case, that meant adapting to geographical location, personalized data packs.Customer success is no guarantee of customer loyalty, because it’s a one-time thing. Even happy customers churn. On the other hand, satisfied customers complain, but they stay.Satisfaction in service is a continuous process, not an one-time thing. Every success adds up to satisfaction, long term satisfaction added with extra perks adds up to long term happiness.People who complain are the ones who still believe in your ability to make it right. That’s why they are not silently leaving.“91% of unhappy customers who are non-complainers simply leave.” (HuffingtonPost)Recipefor customer satisfaction:“Acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.”(HarvardBusinessReview)Customer satisfaction is what builds loyalty.Customer satisfaction is built upon a history of good service and successful transactions. So if there is a glitch in the service at any point, a satisfied customer would rather give you a chance to improve and correct the mistake than abandon you.Follow upRemember the first service provider I spoke about? If only they had come up with a valid reason for delay with a follow-up email or call. Communication like that would have motivated me to give them another chance rather than switching to the next vendor at the first chance.This is where a good CRM is essential. By keeping track of customer interactions andautomatingfollow-up communication, sales people can ensure that customers are always updated and that they stay with the brand.Even after the sales process is done, it is important to make customers feel like a part of the process. Sending outbirthday or anniversarymailers will make them feel more connected to your brand.ConsistencyWhen a potential client reaches out to you, you bend over backwards with claims of having their needs met. When the client bites the bait, whoosh! There’s nothing that you promised.In the case of the first service provider, it may be that their service really is available within a day in different areas, but not where I live. However, from my perspective their claims were clearly inconsistent with what actually happened. Even if a peer told me that their service is actually good, it might not convince me because I have witnessed their inconsistency firsthand. Customers remember your consistency. Brand image is built over time.Take the example of their customer service: when I called them up asking about an update, they couldn’t give me one.Even after I got a new connection I kept getting calls from the previous vendor insisting on their service. People who were calling me had no clue why I didn’t opt for them in the first place. At first I gave them feedback. From the second time onward it was just annoying to explain to them their mistake.With a CRM which allows salespeople to look at previouscustomer interactions, the scenario would have been different. From the very first time I called them about a connection, my interactions with them would have been recorded. So, no matter whom I spoke to afterwards (sales or customer service), they would have had a fair idea of what I was talking about. They would have been able to pick up from where they left off.What customers want from sales people:Be dependable:When you are convincing a prospect to buy your product, you are also taking on a huge responsibility to follow through. So, if you promise them something, make sure you can provide it. As a sales person you represent your brand. If a customer reaches out to you in a time of need, just showing them the way to customer service isn’t going to make you look dependable. Remember it was your words that they trusted when the purchase happened. Be empathetic, listen to what happened and what they need.Don’t be pushy:Since I had reached out to a few internet providers in my area, I keep getting these promotional mails from them all the time. Most of them are irrelevant to me. It almost seems like their motto is “let’s flood their inboxes!” Imagine what kind of reputation they are building here. Even without knowing their service, I perceive them as irritating. It’s best to do relevant research before reaching out. If the customer is not in need of your product, then don’t go around pestering them.Don’t go back on your word:You said you would give them free internet for a month, then you didn’t. You may come up with seven different reasons why, but in the end your brand image suffers. When you are not sure about deliverability, don’t promise. It’s crucial to stay updated about your products and services across the whole company. Using a CRM that established collaboration between teams and unifies enterprise-wide communication is the key to stay updated. The more you educate yourself about your product, the more you can tell your clients about it. Make sure you’re not making any claims that don’t align with your product features or company offers. This will not only make you a liar, it will also directly impact the company’s reputation.Curiosity:There’s no one-size-fits-all when it comes to customers. Generic thinking does not cultivate customer happiness or satisfaction. Working to understand the uniqueness of each customer and providing solutions will set you apart from the competition.Your customers are your cheerleaders, loyal customers are your biggest advertisement. Providing them with a seamless customer journey and keeping them satisfied with your product in the long run will insure uninterrupted revenue flow. Investing in a good CRM makes sales and marketing processes efficient, leading to better customer interactions and a satisfying customer journey. From following up with customers to sending the right promotional mail at the right time, sales andmarketing automationsaves time and manual effort. It decreases the number of missed opportunities by recording customer interactions and keeping track of your leads and potentials.How do you ensure customer satisfaction? Let us know in the comments.
When time is of the essence, customer service makes the difference
Digitization has kept its word about changing the world; it has made it a smaller place. In fact, we live in a global village now, which was the change that helped the new take root. It led to the moment when the new digitallyconnected world began to change our perceptions about many things, includingbusiness.No longer limited geographically, businesses entered new areas. Suddenly it was not only aboutvertical growth orincreasing the customer base and revenue. There was also the capacity forhorizontal growth ormakingacquirements in new fields and markets. With a vertical and horizontal perspective, people began to perceivegrowth in 2D.The advent of the smart phone added another dimension by opening uparelative space where business can represent itself even without an on-the-ground presence.It doubles asarelationship space for people to connect and relate, asocial dimension. Most brands use this space tolearn more about their customers, so they can appeal to their needs or leverage demand. However, progressive companies use it tounderstand the role that their products and services play in people’s lives. This relational perspective or social dimension helps us perceivegrowth in 3D.One thing is evident: businesses must innovate to meet the challenges posed by a well-informed customer base.Whencustomers know better, theydemand a better experiencewhile doing business with you. We know this because digitization has generatedextensive data about the customer experience and continues to do so. Probably why there isa new field of business centered around it, and it is no surpriseit’s called big data or that marketers everywhere are discussing it.Every business, regardless of size, is talking about data and there is no doubt that data is vital to creating viable strategies for business.However,data needs to be parsedbefore it can beshared as informationorunderstood as intelligence. This in-depth analyses of data is what equips businesses with the information and intelligence tocreate better customer experiences. As a result, dataanalytics is being linked to every business vertical to maximize its advantage and this integration has created opportunities for innovation.Metrics ordata isa perennial and multi-directionalflowof informationinward. There are a host of touchpoints along a customer’s purchase journey indicative of what drives people to buy.These customer touchpoints are ranged before, during, and after the purchase journey. This makes for gargantuan volumes of data, and a level of variance that is only to be expected in this age when customers pride themselves on being unique.There arethree dimensionsto data. The first two,volumeand variance,are inevitable and not difficult to manage. Allthey need is for you to employ robust ways to collect and store data. The third dimension,velocity, refers to the speed at which data is effectively parsed from the time it comes in. This is an important dimension becausehigher velocity means better information and timely intelligence,both vital to creating viable strategies.When it comes to information and intelligence,time is of the essence. This is wherecustomer service can make a difference. Efficient throughput times do not depend on any one act or individual, but every single one. Like any habit we want to acquire,good customer service must be cultivated. Just remember that like all habits,yourcustomer service culturereflects your attitudebecause it is the mindset that guides and decides the plans, products, teams, and processes your business adopts.First get into the right head space.Are you driven by the need to discover what customers think, feel, and know about their needs, your product, and/or the market? If your answer is no, then customer service or business is not the best fit for you. Good customer service can only be built around a business that isfocussed on knowing their customers. This is the very heart of customer service, because it is only when we need to know that we listen mindfully.Next, find the right tools and peopleto parse the deluge of data that digitization provides. The right tools are not hard to find with the rampant advances and innovations in IT. Choosing the right meld of people, however, needs more vetting. You will need a handpicked combination of professionals from marketing, sales, support, and advertising to curate the relevant data, and people with a numerical bent of mind to grasp what the numbers are saying to add value to the data. It is this combination of people and technology that efficiently analyzes information so it can be actionable intelligence.To survive and succeed in these changing times,robust businesses recalibrateto enrich the customer experience.
Challenges startups face delivering good customer service
It is gratifying to see your startup grow. But a thriving business can pull your attention in many different directions—and sometimes, that means customer service gets overlooked. Many business owners focus their attention on products and marketing plans, hoping to achieve success by attracting new customers. Less often do they consider how to retain customers once acquired.It has been established that it is more economical to retain existing customers than to acquire new ones. Statistics indicate that existing customers are more likely to try your new products and spend more money. Despite this, statistics also show that companies are more likely to invest in customer acquisition than retention.Here's why this might be the case:New customers look good on paperMany metrics tracked by companies are merely "vanity metrics." They create an illusion that marketing efforts are paying off so businesses can demonstrate their success to stakeholders. For example, a business may track the total number of customers acquired, when they should be tracking the cost of each acquisition. They may track monthly revenue per customer, when they should be looking at customer lifetime value. Too many companies sacrifice actionable metrics in favor of numbers that boost their self-image.New customers provide early gratificationNew companies often seek quick victories to stay relevant in the market, and they know acquiring customers boosts short term revenue. Unfortunately, sometimes it's too late before they realize the importance of customer lifetime value, which is relative to customer retention. For these companies, closing two new deals feels like an achievement—even if five customers drop.Over time, companies with this mindset will find it increasingly difficult to stay in business. Customer lifetime value plays a major role in long-term success, which means providing a high-quality customer experience is crucial.Now let this sink in, 86% of customers are willing to pay more for a better customer experience. That shows how hard good customer service is to come by these days. Though an acquisition-driven growth strategy is not necessarily a bad thing, it's important to ensure that you're providing a top-notch experience to customers once they're acquired. This is how customers become your brand evangelists.It's important that you keep up with increasing customer requests as your business grows. Remember, it only takes one bad experience for a customer to turn to one of your rivals. But providing quality customer support can be challenging for small businesses, especially since the responsibility of handling customer requests usually falls on a small team, or even a single person. Even when the company has the means to hire more support agents, these teams often lack the right tools to succeed. There's only so much email can contribute to a good customer experience.Customer service cannot be provided exclusively by email.As a customer support tool, email can be slow, cluttered, and typically lacking in advanced features. Your customers are emotional beings, so to provide an excellent customer experience, you at least need to be able to understand their feelings. That's not something you can accomplish with email.Here are some telltale signs your business has outgrown email inbox as a tool for customer support:Your inbox is full of customer emails, and the backlog of requests is causing delayed response times.You struggle to identify urgent customer requests.You sometimes overlook requests that haven't been answered, or respond to those that have already been answered.You often lose track of email threads and find it difficult to follow case history.Your email inbox can't manage requests from other channels, such as social platforms or your business website.You find it difficult to derive insights or track important metrics from customer interactions.So what's the solution?Today, successful businesses are transitioning their support services from email to customer service software. Sophisticated customer service software is purpose-built, feature-rich, and geared at simplifying the support process for both agents and customers. With the right software, you can create tickets from requests received through any channel. A ticket is a complete record of a customer request that documents every interaction between the customer and agent. There are many customer service software options available, which should make it easy to find one that suits your company's needs.Sounds like a deal? Unfortunately, that's not always the case for small businesses.Why are most customer service solutions in the market today not ideal for small businesses?Many software solutions come with high price tags, and an abundance of advanced features that simply aren't useful to small businesses. The ones that open up their starting plans for small businesses, lure customers with seemingly low price but hide the most essential functionalities in higher plans. A growing business needs access to basic features, with the option to upgrade plans as its customer base expands. But the popularity of "bait and switch" subscription plans often makes this impossible. These plans require businesses to purchase additional functionalities as expensive add-ons, on top of already loft subscription prices.For a young business that has settled on an option after intense research, onboarding should not feel like a business challenge, but a solution. For vendors, emphasis should be on empathizing with every business size rather than chasing only the "big wins".Can LIKE.TG help?Absolutely! If email is your comfort zone, that's okay. Transitioning to ticketing software should not be stressful or painfully expensive.The Express edition of LIKE.TGDesk is easy to implement, simple to use, and affordable. That's why it's an ideal customer support platform for small businesses!Learn more about why LIKE.TG is the best help desk software for small businesses.
Recession-proof your business with customer service
The possibility of a recession is still hanging over the economy.In the present scenario, despite high inflation, consumers are spending well and employment rates are increasing, indicating a strong job market. However, some believe a recessioncould occur in the first quarter of 2024. The uncertainty surrounding the economy can be daunting, but preparing for a recession can help businesses avoid negative experiences such as losing out on customers and market share.Throughout history, businesses have experienced periods of economic growth and decline. Those that have survived and thrived have done so by adapting their strategies to the changing economic environment.For instance, Citigroup grew during times of recession by offering quality service, and focusing on its branding. Starbucks, despite the worsening economic condition and competition, focused on "Reigniting the emotional attachment with customers."Businesses choose to focus on customers because customers can protect a business from the harsh wind of a recession and prepare them to come out stronger after the economic slowdown. Here's how customer service can help businesses focus on customers and sail through a recession smoothly.Reduce customer churnDuring times of recession, as unemployment increases, economic conditions become unfavorable, and customers grow cautious of their spending. They are likely to stay with brands that have provided value and met their expectations in the past. Businesses, by being available for customers during tough times and resolving issues effectively, can build stronger relations and a loyal customer base. By increasing customer retention even by 5%, businesses can increase profits by 25%, as stated by Bain and Company. This further saves a business from incurring high costs on customer acquisition.Amplify market awarenessEvery customer interaction a business hascounts. Around 64% of customers are likely to switch to a competitor due to one negative experience. One cannot afford this in times of a recession. When customers have a positive experience with a brand, they are likely to share it with others.Customer testimonials can be a powerful way to showcase positive customer experiences and build trust and credibility with potential customers.Stabilize cash flowCustomer service can help businesses identify and resolve customer issues quickly and efficiently.This can increase customer satisfaction levels and help minimize the impact of customer churn on cash flow. Customers that are satisfied with a business' service and products engage in repeat purchases, which ensures continuous predictable cash flow. This helps a business examine its stability and future growth. The higher the customer lifetime value, the higher the business's standing in the market and the ability to get through uncertain times.Drive sales growthCustomers are more likely to try new products from a brand they trust. Moreover, as your customer service agents are already aware of the specific needs and behaviors of your customers owing to past interactions, they can offer personalizedrecommendations, increasing the chances of customers trying out new products and, in return, increasing sales.Foster innovationCustomer service helps identify customers' pain points of using a product, and in predicting their needs, and expectations. By taking into account this treasure of information, businesses can build products that resonate with customers' needs, and foster innovation, just like Starbucks did.Mitigate customer service operational costs with technologyThe complete potential of customer service can only be realized when businesses can manage their customer service operations in cost-effective ways. According to Gartner, 80% of business leaders consider automation an important contributor to cost optimization. Customer service software not only automates routine tasks, but also helps your business in the following ways.Improve productivityOften, customer service representatives find themselves juggling between applications, tracking tickets, prioritizing tasks, and losing customersin the process. Customer service platforms centralize customer information, unify interactions across channels, and streamline service operations with automation, offering greater insights, clarity, and knowledge about customers and customer service operations.Reduce operational costsValue-centric customer service software unifies communications coming across channels in one place, saving a business from spending on multiple platforms. Along with this, integrations with other business systems allow for better collaboration between teams and reduce miscommunication, further reducing customer service times to a great extent.Promote revenue growthInvesting in technology is all about strategizing. Customer service platforms offer great insight into an organization's complete customer service operation through metrics. These metrics, when used during the strategizing process, allow managers to identify strengths and weaknesses, and allocate resources costeffectively. Additionally, with complete insight into customers' interactions with a business, agents are in a better position to gauge the needs of customers and push products that align with their needs.In a predictable environment of decreased consumer spending, lower production, and declining revenue, businesses should hold on to their customers. By prioritizing customer needs, fostering strong relationships, and leveraging customer service software, businesses can not only survive but thrive even during challenging economic times.