In an increasingly complex environment, improving the customer experience continues to be a top priority for businesses who want to drive revenue and profitability. Achieving this goal is more difficult as customers exert power in a multichannel world, companies struggle with an explosion of data, and sustaining operational excellence becomes increasingly more challenging.
Themed ‘Preparing for the next decade of Customer Interaction’
Shivanu Shukla, Associate Director at Frost & Sullivan, commented, “The changing demographics and the emerging importance of a new generation, Generation Y, should not be taken lightly. Frost & Sullivan’s Mega Trends research has shown that the Gen Y population will account for 33% of global population by 2020 which amounts to 2.56 billion people and 42% of that figure will be from Asia Pacific.”
Gen Y’s consumption patterns and preferences vary greatly from other demographic segments; Gen Y is accustomed to products and services that are highly personalized and prefers to communicate in a broadcast than a one-on-one mode, as proven by the success of Twitter and Facebook. Organizations will have to dedicate teams to manage their communication through social media. Gen Y is also demanding, impatient and global i.e. Gen Y expects immediate solutions and is good at multitasking, with an overall faster pace.
“While Gen Y is highly impatient, it is also used to self-service. Gen Y looks to social media to help shape its consumer decisions, looking to members of an online community for help and recommendations. Thus, a negative comment has the potential to influence thousands, if not millions, of consumer opinions. Companies will have to address negative situations immediately or face the possibility of long term damage,” said Shukla.
The one day summit will further discuss and elaborate on various industry considerations including effective strategies for Next-Gen Care, predictive analytics for new intelligence, the Top 10 Global Mega Trends and their impact, Improving customer loyalty and organizational productivity with unified solution, IT adoption and Consumer Markets, Cloud Computing and Contact Centers, and Mobile CRM.
Program highlights include keynote presentations on ‘Winning Strategies for Next-Gen Care’ by Fuad Fachroeddin, Managing Director of Indosat Singapore and ‘Clouds, Crowds and Autonomous Customers: Doing Business as Unusual’ by Ruth Rowan, Marketing Director, APAC, BT Global Services. Interactive panel discussions including ‘Breaking through the Country Specific Challenges in IT adoption and Consumer Markets in Singapore and APAC’ moderated by Shivanu Shukla, Associate Director of ICT at Frost & Sullivan and ‘Transforming Customer Experience, It isn’t just Talk’ moderated by Andrew Milroy, Vice President, ICT Practice, Asia Pacific at Frost & Sullivan.
Subject matter experts from BigDeal.sg, Blugrapes and Genesys Telecommunications Laboratories will also share insights at this summit. For a detailed program agenda and speaker list, please visit http://www.frost-
BT Global Services is a Platinum Sponsor and Genesys, an Alcatel-Lucent company is the Gold Sponsor while Contact Centre Association of Singapore (CCAS) is a Supporting Organization for the summit.
The Generation Y Mega Trend is part of Frost & Sullivan’s Top 50 Global Mega Trends research conducted in conjunction with Frost & Sullivan’s 50th Anniversary celebrations. Frost & Sullivan is proud to be among the top 25 companies with a history of over 50 years that participates in the Information and Consulting Industry worth US$366 billion globally.
About Frost & Sullivan
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Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's research and consulting services empower clients to generate, evaluate, and implement effective growth strategies.