Sunday, December 27, 2009

Changing the business model in the new decade

As we leave the Double Naughts, what will the new business model look like.

John Sviokla offers this model,

The general message is very clear — open up; involve your audience in crafting solutions as well as the information about your firm's offers to other customers. The economics of this type of customer care are superior to anything that can be done with internal resources alone. When I did an analysis of a customer service organization at IBM many years ago, the codification of solutions into a knowledge base shifted first call resolution from less than 60% to over 90%. Customers were happier. The technical staff could spend their time on new products instead of chasing down customer problems. What's not to like?

The future will be more connected, with more ability for people to share their impressions, stories and advice. In an ever-more crowded information market, the natural tendency will be for those people who lead the tribes to become important influencers. Those who generate great new content will be the market movers. Isn't it time to get involved in this emerging customer service structure now — while there is still time to build a reputation based on "earned media"?

So my questions for you are:

  • Are you transparent?
  • Do you lead your tribe?
  • Have you unlocked the talent latent in your customer base?