Rather than obsessing about driving efficiencies, business leaders need to look at emerging technologies to find new revenue streams. IAN JACOBS of Forrester looks at five theologies set to change customer service.
As the age of digital business becomes pervasive, customer service professionals need to step up their planning. Technologies that seem futuristic now will become mainstream within five years. Moreover, completely new models of customer service, driven by new technologies, will require additional organisational models and ways of measuring their success – adding to the need for solid research and planning.
Forrester senior analyst serving application development and delivery professionals, Ian Jacobs, looks at five technologies set to transform customer care over the next five years.
Jacobs says that today’s digital reality has forever changed the way customers engage with companies. To illustrate, he points out how a customer of a large telecoms provider developed an automated bot which automatically tweeted the company as soon as his Internet connection dropped below agreed upon speeds.
Despite this new breed of customer, Forrester believes many companies are not prepared for a future where customers control the conversation.
“Emerging technologies proliferate through the consumer world well before they hit the enterprise, and yet only 16% of global business and technology decision-makers at firms that are prioritising improving customer experience are creating a dedicated user group for customer experience initiatives,” comments Jacobs in a new Forrester report: Plan Now for Customer Service in 2021.
According to Forrester, emerging technologies that can make a significant impact on the future of customer engagement and revenue generation include:
1. Two-way video allows customers and service staff to better engage
Despite the fact that the lower price of bandwidth and smartphone capabilities have brought video chat capabilities to an ever-greater portion of consumers, contact centres are not effectively making use of it. Those who are using video, also tend towards one-way video, which limits the benefits which they could be achieving through two-way video.
Two-way video allows the contact centre staff to see the troublesome router, fridge or radiator. Even the traditional service industries are making use of it, with a major global bank making use of two-way video along with co-browse facilities to help customers fill out complex applications.
2. Bridging the physical and digital worlds with augmented and virtual realities
The level of investment into technologies such as augmented reality (AR) and virtual reality (VR) is indicative that the technologies will have their day in the sun. As the cost of technology comes down, mainstream user adoption will increase.
“VR will allow customer service agents to project their presence into consumers’ worlds and be with them in their moments of need. There are already AR demos that show how consumers can take their mobile devices, hold them over an account statement, and have FAQs and account info show up right on their screens,” explains Jacobs in his report.
Although VR devices have a relatively low penetration rate at the moment, Jacobs says this will change.
“36% percent of US online adults are currently intrigued by the prospect of getting a wearable device; of that group, 25% would be interested in smart glasses. As adoption becomes more widespread, companies can create new experiences, such as an extension of the functionality of two-way video with step-by-step AR projections that walk consumers through technical repairs, whether for plumbing, printers, or pasta makers.”
3. Virtual assistants will continue the customer conversation
Improvements in speech recognition, natural language recognition and machine learning will lead to a new class of virtual assistants. Forrester says these developments will allow a conversational experience and, as the system watches agent-assisted interactions, it will learn what to expect and be in a position to supply answers on the fly.
Forrester does warn, however, that companies will need to carefully consider where and how they deploy virtual assistants, as well as how they escalate enquiries to agents without losing information already gained in the interaction.
4. Messaging apps will become the workhorse
Messaging apps have gone mainstream. Figures released from the messaging companies show that almost one in seven people on the planet make use of WhatsApp, Facebook Messenger is not far behind and there are 700 million WeChat users per month. The need for in-app support is abundantly clear.
Embedding other channels such as virtual assistants and ticketing agents in the app offers organisations additional opportunities.
That said, companies will need to factor in the fact that messaging is an always-on, multiple engagement channel which will require companies to forecast volumes and schedule agents appropriately. Hand over between agents across shifts and based on requirement will also require some forethought before being rolled out.
5. Connected devices mean more relationship-driven services
ABI Research shows that by 2020 there will be more than 30 billion connected devices. The Internet of Things will transform companies from being product-based to being services-based. Airline engine builders are already selling their turbines by the flying hour rather than as depreciating asset, making use of in-flight data to optimise maintenance and maximise revenue.
This example clearly shows how brands can shift to lucrative subscription models. It also allows for companies to make use of multiple channels to engage, including AR and two-way video. However, this demands a relationship-centric approach for service and support.
“Custom care decision-makers with a focus on driving ever-greater cost efficiencies have been highly risk-averse and slow moving. But the change of pace inherent in the age of the customer will no longer allow contact centers to simply take cost out of the business. Emerging technologies can drive the types of customer service experiences that better cement customer loyalty as well as advance new revenue-generating opportunities,” Jacobs says.
Welcome to world of 2099
The world of 2099 will be unrecognisable from the world of today, but it can be predicted, says one visionary. ARTHUR GOLDSTUCK met him in Singapore.
Futuristic structures tower over the landscape. Giant, alien-looking trees light up with dazzling colours amid the hundreds of plant species that grow up their trunks. Cosmetic stores sell their wares via public touch-screens, with products delivered instantly in drawers below the screens.
This is not a vision of the future. It is a sample of Singapore today. But it is also an inkling of the world we may all experience in the future.
Singapore was the venue, last week, of the World Cities Summit, where engineers, politicians, investors and visionaries rubbed shoulders as they talked about the strategies and policies that would enhance urban living in the future.
As part of the Summit, global payment technologies leader Mastercard hosted a small media briefing by one of Singapore’s leading thinkers about the future, Dr Damian Tan, managing director of Vickers Venture Partners. The company’s slogan “We invest in the extraordinary,” offers a small clue to Tan’s perspective.
“We look as far forward as 2099 because, as a venture capital firm, we invest in the long term,” he tells a group of journalists from Africa and the Middle East. “Companies explode in growth because there is value in the future. If there is no growth, they won’t explode.”
The big question that the Smart Cities Summit and Mastercard are trying to help answer is, what will cities look like in the year 2099? Tan can’t give an exact answer, but he offers a framework that helps one approach the question.
“If you want to look at 81 years into the future, and understand the change that will come, you need to double that amount and look into the past. That takes us to 1856. The difference between then and now is the difference you can expect between now and 2099.”
Click here or on the page link below to read on: Page 2: Soldiers and Health in 2099.
- Arthur Goldstuck is founder of World Wide Worx and editor-in-chief of Gadget.co.za. Follow him on Twitter on @art2gee and on YouTube
Street art goes electric
Kaspersky Lab and British street artist D*Face have unveiled the first-ever “art helmet” design at the Formula E finale for electric cars in New York.
The ‘Save The World’ helmets will be raced by DS Virgin Racing’s drivers, Sam Bird and Alex Lynn, as they traverse the New York street circuit during the final races of the Formula E season.
The announcement signals the first art helmet by a Formula E team, continuing the heritage of art in motorsport and the cybersecurity brand’s commitment to contemporary art, creativity and innovation. D*Face took inspiration from Kaspersky Lab’s tagline, “A Company To Save The World”, and hopes that his colourful work will inspire people to take positive action.
D*Face will announce his first-ever art car design with a custom-made livery for the DS Virgin Racing Team. Its design will be released at the “Art Goes Green” event after Saturday’s race. The helmets and art car are the latest installations in the “Save the World” collection, following a major permanent public mural that was installed in Brooklyn, New York, in May.
D*Face, whose real name is Dean Stockton, said: “It is exciting to work with Kaspersky Lab on this project and create art with a real message of hope for a better future. After all, this is our world and we need to look after it. It will take every one of us to make a real lasting, impactful change. I love the mentality of the DS Virgin Racing Team and that of Formula E by showcasing sport in a way that doesn’t harm the environment, but is still just as exhilarating and fun.
“It is time for us all to stand together and make a change… be that stopping data steals, climate change, plastic waste or using damaging fuels. I want everyone to make a pledge to do one thing that will help make a change.”
As a sponsor of DS Virgin Racing Team, Kaspersky Lab is responsible for protecting the team’s devices against cyber threats. The company sees the technical environment in the global sport of Formula E as the next frontier in furthering its research and development of new technologies to keep vehicles secure in the digital world.
Sylvain Filippi, Managing Director at DS Virgin Racing, said: “The whole team fully supports this great initiative and our thanks got to Kaspersky and D*Face for their collaboration. It’s an honour to have such an innovative artist bring his talents to bear in our team ahead of the season-finale; the car, drivers’ crash helmets and mural all look amazing.”
Aldo Fucelli Pessot del Bo, Head of Global Partnerships and Sponsorships at Kaspersky Lab added: “There is a need for innovation on a global scale, both in contemporary art and in the fast-growing sport of Formula E. Now, for the first time ever, Kaspersky Lab is proudly bringing together the two sectors in an effort to Save the World and unleash creativity, encourage freedom of expression and further innovation.”