Fascinating statistics from the C-Suite Study with Infographic

On October 7 IBM launched the latest in their C-suite Study series.  This is the first study where all offices within the C-suite were surveyed at the same time with the same questions. The title of this study is “The Customer-activated Enterprise”

You can download the full study here:   Global C-suite Study  or, access this and other studies via your smart device HERE

Technology is once again, as it was in 2012, the CEOs’ number one driving force impacting enterprises today. In this study, three areas emerged as critical to future success. Organisations should:

  • Open up to customer influence
  • Pioneer digital-physical integration
  • Craft engaging customer experiences

Here are some statistics from the below infographic, ready for you to Tweet:

55 percent of CEO’s cited customers as the most influential on strategic vision and business strategy – Tweet This

Nearly seven in ten CxOs recognize the new imperative – a shift to social and digital interaction. Tweet This

Organisations that have a united C-Suite are 28% more likely to be out performers. Tweet This

35% of CxO’s recognise that they don’t understand their customers well today. Tweet This

Two thirds of organisations have a weak digital strategy or none at all. Tweet This

 

CSuite Study 2013 Ben Martin IBM

 

What did you take away from the above? Is there something you would like to know more about? Drop by and leave your comments below.

50 things we don’t do anymore, due to Technology [Infographic]

A study conducted by Mozy last year found that technology is replacing many of the tasks that have been mainstays in our lives for years.

When you consider the telecom industry, for example, when was the last time you looked something up in a phone book? Or used a phone book?

Sure, they have 50 listings for party clowns for your 8-year-old’s birthday party, but isn’t it just faster to search online? Have you or your children ever called to hear “At the sound of the tone, the time will be 4:13 PM”? Technology is making life easier, faster, more accurate, and more personal.

Take a stroll down memory lane with us and review 50 of the things we don’t do (or maybe have never done) thanks to technology.

Things we no longer do because of TechnologySource: Mozy

How C-suite executives see the landscape changing

IBM collect some amazing data, delivered in a series of C-Suite studies, from over 4,000 C-suite executives. Watch this space to be notified of releases as they happen.

In the mean time here are some early discovery snippits along with an Infographic.

How C-suite executives see the landscape changing:

55% of CHRO’s forsee increasing organisational openness “TweetThis

77% of CFO’s support the development of new products and services “TweetThis

19% of CSCO’s anticipate a reduction of their partner base “TweetThis

71% of CIO’s see communication moving toward more social/digital collaboration. “TweetThis

63% of CEO’s want to increase partnering for higher business value “TweetThis

64% of CMO’s want to approach customers as individuals “TweetThis

69% of C-suite executives report that creating a consistent experience across all customer touch points is one of their top initiatives. “TweetThis

40% of C-suite executives are integrating internal and external data for insights “TweetThis

Ben Martin, IBM, CSuite

 

Infographic courtesy of IBM Institute for Business Value

How does the above information resonate with your strategies? Would you like a copy of the full report when published? Pop your comments below, it would be great to meet you.

Four focus areas for Customer Loyalty – “main ingredient is Experience”

From small businesses to huge corporations, everyone wants to know the secret to keeping customers. How do we earn repeat business for years and years to come?

If you take away anything from this fantastic Infographic, from the guys at CustomersThatStick, it is the experience that the customer receives that defines whether they remain loyal to you or if they take their business elsewhere.

A staggering 82 percent have said they stopped doing business with a company due to poor customer experience. To keep your customers happy what are the four elements you should focus on?

– Friendly employees or customer service representative – ensure your employees are engaged

– Personalise the client experience. Let’s start a conversation about the revolution in business that requires engaging customers as individuals, at every level and how we can get there.

– Ability to easily find information or help. Share what you know, now that’s power!

– Good reputation – In my opinion (as always) if you do the above you will gain the reputation

Take a look at the infographic below and open the conversation by dropping a note in the comments.

Sources for the Customer Retention Statistics Above

While the convention on most infographics seems to be generic, non-specific sourcing, we wanted to provide actual sources for the statistics used in the infographic. We attempted to find primary sourcing as much as possible. In cases when we relied on secondary sourcing that did not seem definitive, we notated that fact after the citation.

Why Customers Leave <<TweetThis>>

  • 82% of consumers in the U.S. said they stopped doing business… > Citation 
  • 73% was a reaction to rude staff… > Citation
  • 78% of consumers in the U.S. said they have bailed on a transaction… > Citation
  • 68% of consumers leave because they were upset with treatment… > Citation (Note: Primary sourcing could not be found, though this statistic is widely quoted through secondary sources.)

Why Customers Stick <<TweetThis>>

  • What parts of the customer experience cause customers to stick… > Citation
  • 92% of consumers said they would go back after a negative experience… > Citation
  • What happened when an organization responded to a customer’s negative comment… > Citation
  • 85% of customers are willing to pay more… > Citation

Retained Customers Mean Money <<TweetThis>>

  • The cost of bringing a new customer to the same level of profitability is up to 16x more… > Citation
  • 10x more expensive to acquire… > Citation
  • 4-6x more expensive to acquire…* > Citation
  • 5x more expensive to acquire… > Citation Alan E. Webber, “B2B Customer Experience Priorities In An Economic Downturn: Key Customer Usability Initiatives In A Soft Economy,” Forrester Research, February 19, 2008
  • 89% of consumers began doing business with a competitor… > Citation
  • Increasing retention rates by 5% increases profits by 25%-95%… > Citation
  • 2% increase in retention has the same effect as decreasing costs by 10%.. > Citation (From the book, Leading on the Edge of Chaos)
  • Loyal customers are worth up to 10 times as much… > Citation (Note: Primary sourcing could not be found, though this statistic is widely quoted through secondary sources.)
  • Repeat customers spend 67% more… > Citation

My Dad’s bigger than your Dad – “the social taunt”

Perhaps some have of us have moved on from the playground taunt of “my Dad’s bigger than your Dad” to “I have more followers than you”. In fact just yesterday I was listening to a webinar where the speaker went into bragging mode, I hope it was not just me thinking – “so what?”

I relish getting more followers, that instant fix that justifies why I am here in the social arena. If they then share my content, that is what I call success, that is what I am addicted to (see previous blog) So having a huge following does not really count for much unless they can move your content for you, does it?

So my first question to you. Does the size of some ones following impact your decision to click the follow button?

For me, in some small way, it does. But I also consider the other numbers that are displayed, like how many tweets versus how many followers. For instance :-

bSo here we have someone who is  either providing great content, or they deemed it necessary to purchase fake followers. How do you know if this entity is able to provide value to you and strengthen your reach. I use StatusPeople, its a great tool, to help me decide the answer to that last question. So in regards to the above twitter user this is the view StatusPeople provided:

b1With that kind of information I can make an informed decision to follow, either they have some great content and or they can help move my content (if they like it)

So let me give you some other examples

a

and StatusPeople said

a1

***************************************

c

and StatusPeople said

c1

Perhaps I am just too cynical in my old age, but if you cant provide me with reciprocal value, then that is why I don’t follow you back.

Does size matter? Please leave your comments below as to how you make a decision to follow or even like someone back. Do you use another tool you would like to tell us about?

Tomorrow’s cities: How big data is changing the world

Here is a very insightful and interesting article from the BBC about Big Data and how it could be used to shape the nature of cities in the future. It includes a nice mention for the company I work for – IBM. There are also some great factual snippets which you could use in conversation.

  • Each engine of a jet on a flight from London to New York generates 10TB of data every 30 minutes “TweetThis
  • In 2013 internet data, mostly user-contributed, will account for 1,000 exabytes “TweetThis
  • Open weather data collected by the National Oceanic and Atmospheric Association has an annual estimated value of $10bn “TweetThis
  • Every day we create 2.5 quintillion bytes of data “TweetThis
  • 90% of the data in the world today has been created in the past two years “TweetThis
  • Every minute 100,000 tweets are sent globally “TweetThis
  • Google receives two million search requests every minute “TweetThis

Stand Out on LinkedIn with Rich Media

LinkedIn profiles can be so more than just a boring online version of your résumé.

Use LinkedIn profile like Coke, Ford and many others do: to promote themselves. Company websites and commercials contain customer testimonials, product demonstrations, and visual proof of their products. They use video, presentations and images to convey their message.

So can you! It just takes a little creativity…

What Media Can You Add?

LinkedIn now supports  images, video, audio, presentations and documents by certain providers listed here; others may work too. You have the choice to upload a file or use a URL if already published to the web.

These nifty media clips can be placed in various places in your profile. They can be part of your summary, incorporated into each position listed in your experience section, and in your education section. Just go to edit your profile and look for the little blue box. See image below.

LinkedIn Summary Ben Martin

What to Showcase?

Think about the problems or challenges of the audience you want to do business with. Does you company already have assets you can use, perhaps on YouTube  or perhaps they have material available on Slideshare. What value can you provide that differentiates you from the hundreds and thousands of other people who have the same job title as you?

LinkedIn is one of the first stops your client will make when they look you up. Why not go one step further and create you own original content. You can create a PowerPoint highlighting your knowledge or accomplishments and publish it to SlideShare. This is fairly simple to do. The most difficult part is figuring out what you will put into your PowerPoint presentation. Search around SlideShare and get ideas from other people who have created online content in your area of expertise. If you are interested in creating something a bit jazzier than PowerPoint, you may want to test Prezi.

Think of your profile as you window of credibility, what would you want someone to find if they were searching for you on the web?

Make your LinkedIn profile rock… with a media rich profile!