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Getting a Handle on Bitcoin

Getting a Handle on Bitcoin

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I must admit to being more than a little intrigued by Bitcoin, the open source, peer-to-peer digital currency. In fact, anything with the words “open source, peer-to-peer and digital” in its description is likely to pique my interest. But as a currency, Bitcoin operates independently of central banks or a central organisation – which in times of sovereign debt crises adds to its attractiveness.

Very few of us go through the process of thinking through how our currencies actually work. We know enough to understand our local banking systems – and the way that they manage transactions, the money supply and so on – but Bitcoin operates in a completely different way. As a peer-to-peer currency, there is no centralised control. There is no gold standard. To purchase Bitcoins, you need an account with a Bitcoin exchange, like Mt. Gox, which requires a form of verification. But Mt. Gox is not a bank – and once you have purchased Bitcoins you need to store them in a wallet. You can then use those Bitcoins to buy and sell – to transact with others who trade in Bitcoins.

Sounds complicated, right? And it is. Thankfully Duncan Elms has put together a video explaining the way Bitcoins work. It goes some way to clarify some of the complexity that underlies this new, and growing digital currency.

But once you know all this, what will you do? Will you throw caution to the wind and setup a trading account? Will you use Bitcoins to buy and sell real and virtual world things? Or will you watch from afar?

Bitcoin Explained from Duncan Elms on Vimeo.

 

Marketing Transformation Matrix Commerce Chief Financial Officer Chief Information Officer Chief Marketing Officer

Dynamic Market Changes Necessitate New Customer Service Strategy

Dynamic Market Changes Necessitate New Customer Service Strategy

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Customer support organizations are scrambling to accommodate their changing customer behaviors and preferences.   The move to social media, mobile applications and online communities triggers customer service organizations to search for applications that deliver the same level of support on emerging channels as their traditional channels.  Without an actionable plan for accommodating customers equally across all channels, support organizations find their customers’ experience suffers.  This fragmented approach also causes integration issues, which often require extensive fees for professional services to bridge the legacy applications with the newer ones. 

To avoid the pitfalls of managing and integrating multiple point solutions, service organizations need to create a customer service support framework, as the foundation for their support strategy.  This includes a comprehensive plan for moving from a predominately single channel model with bolt-on applications to support emerging channels into a cross channel plan that builds an integrated customer support framework.  The development of a customer support framework should begin with a review of the current service operations and the development of a gap analysis on future state compared to the existing state.  It should also include conducting an analysis of customer data, both structured and unstructured, to gain a more intimate view of individual customers and their priorities.  The goal is to create a service strategy that provides the capability to create a single customer profile across all channels and access to the multiple databases that support the service operations.

Constellation Research’s new report, Customer Service Strategy for a Disruptive Worlddentifies the seven key steps an organization needs to consider when developing a strategy for building a world-class customer support strategy. These core features of a customer support framework include:

·         Planning and design requirements

·         Multichannel interaction support

·         Self-service support and knowledge management

·         Customer service analytics and reporting

·         Application integration, unified customer experience

·         Customer insight and feedback

·         Execution platform

 This report also identifies vendors who are notable providers in each of the seven components for the new service strategy model.  The need to update you customer service strategy is evident.  Benjamin Franklin stated many years ago, “By failing to prepare, you are preparing to fail”.  His insight still resonates today for the necessity to create a next generation customer experience strategy.

 

Next-Generation Customer Experience Chief Customer Officer

Constellation Research Publishes Customer Service Strategy for a Disruptive World

Constellation Research Publishes Customer Service Strategy for a Disruptive World

SAN FRANCISCO, CA April 9, 2013 – Constellation Research, Inc. the research and advisory firm focused on disruptive technologies today announced the publication of “Customer Service Strategy for a Disruptive World” a market overview by Constellation Vice President and Principal Analyst, Elizabeth Herrell. This research report describes a new environment in which technologies (social, mobile, data, etc.) change customer behavior and the consequent necessity for organizations to develop customer service support strategies that accommodate these changes in behavior.  The report defines the 7 key elements for building an effective platform for customer service support.

This report reveals

  • Seven key components for an effective customer support framework
  • Notable vendors to consider for each strategic component
  • Nine steps to create an actionable roadmap for cross channel customer support

Customer service is at a critical crossroads due to changes in customers’ choice of channels.  Legacy processes and applications have proven insufficient to deliver a consistent cross channel customer experience. This results in organizations adding a patchwork of software solutions to accommodate this market shift.  However, these add-on applications are not integrated with core customer service applications resulting in unpredictable service quality.  This report provides sound pragmatic steps for a company to build an effective customer service framework as a strategic weapon in customer experience and actionable insight into best practices for doing so.  

This report fits into Constellation’s business-focused research theme, Next generation Customer Experience

A snapshot of this report is available for download. Included in the snapshot:

  • Table of contents
  • Executive summary
  • Purpose and intent
  • Brands and Companies Must Intelligently Address Shift in Customer Interaction Behavior
  • Identify Clear Goals before Launching Your Customer Service Strategy
  • Create a Customer Service Support Framework as the Strategic Foundation
  • The Seven Building Blocks of the Customer Support Framework
  • Recommendations: Create an Actionable Roadmap for Cross-Channel Support
Download the report snapshot

THE REPORT

More information about this report can be found here: http://www.constellationrg.com/research/2013/04/customer-service-strategy-disruptive-world

ABOUT ELIZABETH HERRELL

Elizabeth Herrell is Vice President and Principal Analyst covering cross channel customer service, customer support applications including CRM, Analytics, Knowledge bases, customer feedback, and unified communications.  Elizabeth current research focuses on customer service applications and solutions

 

COORDINATES

Geo: Sedona, AZ
 
Press Contacts:
Contact the Media and Influencers relations team at [email protected] for interviews with analysts.
Sales Contacts:
Contact our sales team at sales[at]ConstellationRG[dot]com.

 

 

Next-Generation Customer Experience Chief Customer Officer

Video Interview On Purposeful Collaboration

Video Interview On Purposeful Collaboration

The following five minute video was recorded following my keynote on Purposeful Collaboration at Oracle CloudWorld Mumbai on April 2nd, 2013.

Note: the caption for the first question is incorrect, they asked "How has collaboration changed..." not "How has Constellation (where I work) changed..."

Future of Work Chief Customer Officer Chief Executive Officer Chief People Officer Chief Information Officer Chief Marketing Officer

The Rise of Purposeful Collaboration: From Simply Sharing to Getting Work Done

The Rise of Purposeful Collaboration: From Simply Sharing to Getting Work Done

The Rise of Purposeful Collaboration

From Simply Sharing to Getting Work Done

Collaboration tools enable people to discover and interact with, the content, colleagues and communities, that can help them get their jobs done.



Culture, Technology and Business Practices are evolving to adapt to todayâ??s more social working environment.

The first era of enterprise social was about collaborating more effectively by working more transparently and increasing participating via â??social softwareâ?.

With Purposeful Collaboration, â??socialâ? is built directly into the tools and business processes people use to get their jobs done.

Future of Work Chief Customer Officer Chief Executive Officer Chief People Officer

Why Your Future Depends on Engaging with Customers and Employees

Why Your Future Depends on Engaging with Customers and Employees

In the age of social media, effective customer and employee engagement is becoming an increasingly important business initiative. Companies that effectively engage their customers experience greater customer loyalty and repeated patronage. Companies that effectively engage their employees can expect greater employee satisfaction and productivity. However, as the number of social channels continues to grow, engagement becomes increasingly difficult as constant bombardment of these channels often leads to alienation and fatigue. 

Enter the 9 C's of Engagement. Employ the 9 C's of Engagement to connect with your customers and employees in an increasingly saturated social environment.

In this interview at SXSW 2013, R "Ray" Wang explains how companies should be using the 9 C's of Engagement. 

Future of Work Marketing Transformation New C-Suite Next-Generation Customer Experience

Why Your Future Depends on Engaging with Customers and Employees

Why Your Future Depends on Engaging with Customers and Employees

In the age of social media, effective customer and employee engagement is becoming an increasingly important business initiative. Companies that effectively engage their customers experience greater customer loyalty and repeated patronage. Companies that effectively engage their employees can expect greater employee satisfaction and productivity. However, as the number of social channels continues to grow, engagement becomes increasingly difficult as constant bombardment of these channels often leads to alienation and fatigue. 

Enter the 9 C's of Engagement. Employ the 9 C's of Engagement to connect with your customers and employees in an increasingly saturated social environment.

In this interview at SXSW 2013, R "Ray" Wang explains how companies should be using the 9 C's of Engagement. 

Ashley Verrill for Software Advice

 

 

Future of Work Marketing Transformation Matrix Commerce New C-Suite Next-Generation Customer Experience Chief Customer Officer Chief Executive Officer Chief People Officer Chief Marketing Officer

Why Your Future Depends on Engaging with Customers and Employees

Why Your Future Depends on Engaging with Customers and Employees

Interview at SXSW 2013.

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