Gazing into the Crystal Ball:
Top 10 Trends for 2014
Customers are becoming very demanding. No one has captured this better than Pega’s own CEO and founder, Alan Trefler, in his recent book Build For Change. The characterization of a new generation of customers (Called Gen D – where the “D” stands for Discover, Devour, Demonize) and the corresponding predictions for enterprises that ignore them are dire and to the point: “A lot of companies across the globe are going to die over the next few years – not because of macroeconomic stress, but because there is an entire emerging generation of customers who hate doing business with them.” Alan Trefler has coined the term “customerpocalypse.”
This next important trend addresses the very core of these Gen D challenges. Customer relationship management (CRM) is about managing the relationship between a company that provides products or services and their customers. The need and urgency to respond to customers whose evaluations are often expressed virally over Social Networks, is critical in both value and timing. It can even be a matter of survival.
The new CRM in Digital Enterprises, enabled by intelligent business process management (iBPM), is emerging as an important trend that will accelerate this year. With iBPM-enabled CRM, organizations can keep their Net Promoter Score (or other) measures critical to the customer experience in control in real time. This is very much a Lean Six Sigma optimization challenge and, as we discussed in Trend 7, iBPM is an ideal platform to monitor and control all process and performance measures as well as proactively handle potential challenges in real time.
In particular, iBPM-enabled CRM leverages analytics, both predictive and adaptive, as we discussed in Trend 5, to significantly transform the typical approaches used to interact with the customer. Predictive and adaptive analytics let organizations learn, discover and then operationalize predictive models in CRM processes. With adaptive analytics, the decision strategy for the customer continuously learns and adapts to changes in customer behavior or market dynamics in real time so that organizations can dynamically respond with the right action for each customer.
Using iBPM-enabled CRM, enterprises will be able to:
- Eliminate confusing data-driven forms in favor of intuitive processes, decisions and guided interactions.
- Replace commodity services with personalized treatments that consider such factors as the customer, lifetime value, product, reason for the interaction and location when executing the business logic.
- Do away with manual work and exceptions handling using dynamic case management (DCM). DCM can connect the front office to the back office and run across all channels to deliver a consistent, end-to-end experience. Sub-cases handled by different teams or organizations are all aggregated through the holistic case to meet a specific customer objective.
- Replace traditional “black box” CRM packages. Dated packages hide the business logic and are very difficult to change, extend or customize with complete visibility into all the procedures, policies and decisions within the CRM solution. iBPM-driven CRM simplifies change, maintenance and customization.
- Seamless: through consistent customer experience across multiple channels.
- Sticky: through guided, intelligent, and robust interactions.
- Dynamic: through responsive communication – treating different customers differently.
- Fluid: through agile and adaptive changes in processes and policies.