Customer experience is the new battleground for consumer-facing organisations (yes – retailers and shopping centres) as the industry fights for loyalty and customer needs increase.
Recently Forbes indicated 75% of companies report their top objective as improving customer experience and those companies who do it well will reap the financial benefits according to the ASX company financial results.
https://www.shoppingcentrenews.com.au/shopping-centre-news/industry-news/amplifying-cx-customer-experience-and-retail-trends/
According to Forbes magazine, globally it is reported that companies across different sectors lose around 62 Billion due to poor customer experience. With a statistic like this, one might think that customer service is getting worse, when in fact it is getting better. The reason behind this is that the best companies are setting the bar higher.
Research done globally by Ipsos has shown that expectations have become more liquid, meaning that they are increasingly influenced by a much wider body of experiences across a variety of sectors. Here it could be argued that the increasing digitization makes it easier for a customer to compare, thus it’s possible that the service provided by Amazon’s One click ordering affects the way consumers expect to deal with their bank, utility provider or local restaurant.
http://www.venturemagazine.me/2018/07/customer-experience-excellence-ipsos/
Too many marketers assume that their strategies and offers are engaging their customers. This assumption is often wrong. Unless you are engaged in two-way dialogue and providing value-added communications…you have NO idea what customers think about your business and your marketing tactics.
We just completed VoC research for a major up and coming brand. A key competitive differentiator cited by customers was that the company provides ongoing opportunities for feedback in all communications and sends friendly, engaging surveys and then acts on the suggestions from customers! That makes customers feel included and valued.
Additional findings from our 16,000 plus hours of VoC interviews indicate that there is a dangerous chasm between the CX fantasies of brands versus the disappointing CX realities of most consumers.
Here are 3 Tips to help you get it right.
http://customerthink.com/are-you-really-engaging-customers-3-tips-to-get-it-right/
Can you say with 100% certainty that your company is offering an omnichannel experience? These guidelines can help you differentiate between multichannel and omnichannel customer service.
https://www.nearshoreamericas.com/are-you-sure-your-customers-are-getting-an-omnichannel-experience/
An MIT Sloan/Google report last year pointed out that our current key performance indicators (KPIs) for customer experience are no longer accurate for today’s digital environment.
Most KPIs today focus on compliance, not commitment, the report said, so they are “key in name only, rather than being indicators that companies can use to truly improve performance."
We asked some marketing professionals what they identify as the KPIs making a difference in their organizations.
https://www.cmswire.com/customer-experience/are-your-customer-experience-kpis-fit-for-today/
For retailers looking to scale up from a regional loyalty program to an international one, the process isn’t as simple as translating existing offerings market by market. To be successful, you need to create an expansion plan rooted in a deep understanding of both global audience preferences and keen awareness of region-specific data and privacy concerns.
https://www.colloquy.com/latest-news/avoid-a-copy-paste-mentality-when-taking-your-loyalty-program-global/
Does Customer Experience matter more for B2C companies (business to consumer) or B2B (business to business)? The answer is they both matter equally. The reason is because people buy from people. B2B buyers are behaving like consumers more than ever before. Though CX methodologies differ, the principles and best practices are similar and it’s important to apply them to B2B and to B2C.
http://customerthink.com/b2b-versus-b2c-which-matters-more-for-cx/
As creatures of habit, established customers will come back to your business unless you give them a reason not to. 92% of consumers will stay loyal and increase their business with a company when their queries are handled quickly and effectively. However, bad communication and poor customer experience is overwhelmingly (81%) the cause of clients taking their business elsewhere. With over 60% of companies citing customer experience (CX) as the best tactic for increasing customer lifetime value and loyalty, seamless communication is the key to addressing clients’ needs.
https://www.uctoday.com/news/blog/bad-customer-experience-a-good-reason-to-jump-ship/
The rise of artificial intelligence has led many people to believe that machines will take over many of the job functions in the marketing industry. However, when it comes to customer experience, the best results will occur when machines and humans work together, writes Dan Gingiss, VP of Marketing at Persado.
When people think of artificial intelligence (AI) and its technological cousin, machine learning, it often conjures up images of a robot taking over the job of a human. Indeed, “the robots are coming!” is a familiar refrain suggesting the human race will soon be invaded. If we can teach the machines to be as smart as humans, consume mountains of data in seconds, and continuously learn more at warp speed, isn’t the useful life of the human brain quickly coming to an end?
The answer: Absolutely not.
https://www.martechadvisor.com/articles/customer-experience-2/beyond-chatbots-how-artificial-intelligence-can-humanize-the-customer-experience/
Contact center Key Performance Indicator (KPIs) are used by SMB and enterprise companies to make better business decisions and improve the customer experience. Also called metrics, KPIs are the measurable values that show just how effective your business is at achieving its goals.
In our last couple blogs, we touched upon the top agent KPIs and team KPIs that your contact center should be tracking. We also covered the real-time metrics that supervisors use on a daily basis to monitor the status and productivity of their agents.
This time, we’ll check out some of the most used services metrics that show how your services are doing. A service is a specific reason for customers to initiate an interaction with a contact center, or, in the case of outbound dialing, for a contact center to initiate an interaction with a customer. In the contact center space, a service typically means the type of channel that connects the customer to the business: voice, email, chat, and so on.
http://customerthink.com/boost-customer-experience-by-utilizing-service-kpi-insights/
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