The 2009 Summit on Customer Engagement was
the most intense 2 days I’ve seen yet at one of our events.
There’s no way to provide a list of
takeaways and do the content flowing from the Summit justice. So over the
next few weeks I’ll post a series of takeaways as we continue to compile information
from the presentations, Executive Forum, peer exchange, panel and fireside
First up is the ROI from Customer Engagement
Efforts. There’s a growing body of evidence – evidence that’s persuasive
to CFOs – that customer engagement efforts drive growth. Customer engagement
includes customer reference programs, advisory boards, communities and customer
social network efforts.
Here’s a few examples from last week’s
From co-keynoter and thought
leader Sean Geehan:
- Customer programs that engage
decision-making customers create measurable ROI vs. those that have little or
no engagement with decision makers. In particular, such customer engagement
efforts triple account growth rates (from 4% to 12%), more than triple
referenceability (94% vs. 28%), and increase retention by 25% (90% vs. 72%).
- Such results impress finance
executives. “Our executive customer programs have proven to be the most
effective way to positively impact top and bottom line results.” Jeff Garrity,
CFO, Services, NCR.
- Oracle, which has substantially
outperformed its industry - as measured by the Dow Jones Software index as well
as the overall DJIA - gives great credit to its executive customer programs.
“Our executive customer programs have driven the Oracle transformation. The
pay-off has been tremendous.” Charles Phillips, COO, Oracle.
From co-keynoter Tim Thorsteinson,
retiring President, Harris Broadcast, on the superior performance of Harris
relative to its market and competitors.
- Harris has excelled by rapidly revamping its
product line: 50% of its current line was developed in the last 24 months. This
wouldn’t have been possible without engagement with key executives at its most
important customers through its Executive Advisory Board – who drove 16% of the
firm’s revenue last year.
At Harris, customer engagement efforts
- Improved margins, predictability,
sustainability (increase in sales)
- Confidence in the business trajectory and
- Market alignment, higher stakeholder returns
From Intel's Rhett Livengood,
the firm's social media efforts – which are now well advanced in integrating
customer reference and customer advisory board programs at Intel - are driving
lead generation and branding. Here’s how Intel measures social media, and
the current numbers showing its impact:
- Lead Generation (% of new customers coming
from social media efforts)
Goal: 10% Current:
- Brand Impact (measured by comment ratio on
- Community Driven (conversations driven by community
members vs. Intel)
More to come . . . .