The future of customer experience (CX) is sure to be influenced by artificial intelligence, digitalization, the sharing economy, generational preferences, cross-pollinated expectations and much more. That’s exciting, yet the future of customer experience management (CXM) is calling out for significant shifts beyond the trends and forces in technology, socio-economics and competitive environments. The future is urgently calling for us to shift to company-wide alignment with CX. Here’s why:
http://customerthink.com/the-future-of-customer-experience-calls-urgently-for-a-significant-shift/
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/
Artificial Intelligence-powered virtual agents present significant potential to improve the customer experience (CX) in the contact center while reducing costs. Many companies are facing business challenges such as high customer expectations, limited automation options, difficulty in implementing and deploying new contact center technologies, and agent attrition. Fortunately, the opportunity for business leaders to address such challenges through cloud-based, AI-powered engagement is considerable.
https://markets.businessinsider.com/news/stocks/using-ai-powered-virtual-agents-to-optimize-the-customer-experience-of-your-contact-center-1027570822/
Today’s customer experience (CX) programmes provide a crucial opportunity for differentiation beyond price and quality.
Yet, ironically, many organisations are delivering comparable experiences because their CX programmes have hit the same brick wall: they can capture customer insights, but are unable to turn insights into action and drive organisational change – which is the hallmark of a truly world-class programme.
How do you know if you’re one of those stuck in the rut – and how do you push past it?
https://www.mycustomer.com/experience/voice-of-the-customer/how-to-measure-your-cx-maturity-and-move-it-forwards/
When an organization has a holistic understanding of their customer experience (CX), it provides an opportunity to make more informed CX improvements. Voice of the Customer (VoC) programs are a proven way businesses can collect solicited customer feedback to gain a deeper understand of how customer expectations compare to customer experience and take action to drive improvements.
http://customerthink.com/5-benefits-of-collecting-solicited-customer-feedback/
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/
Most retailers understand that upstream factors such as customer loyalty, retention, advocacy, satisfaction and brand preference have a causal relationship on both financial performance and operational variables. However, linking and measuring customer experience initiatives to tangible return on investment (ROI) can be a challenge. If retailers do not have a well-defined, structured measurement strategy, it’s very difficult to gauge how much CX is worth and show where it generates value – both for customers and for the business. Delighting customers comes with a cost. Delivering a superior customer experience should meet; even excel customer expectations. But, not at any cost.
http://customerthink.com/how-to-measure-retail-customer-experience/
The customer experience (CX) drives success or failure in retail, but who should claim responsibility for something so important? In most organizations, it’s the marketing department, according to research from Gartner.
https://www.forbes.com/sites/steveolenski/2018/08/31/does-your-cmo-have-the-necessary-tools-to-perfect-the-customer-experience/#1894bd0a2e3f/
Data is only as valuable as what you do with it, and Voice of the Customer (VoC) data is no different.
In a world where a superior Customer Experience (CX) is now viewed as a key competitive advantage, leveraging VoC as part of your Customer Experience Management (CEM) efforts has never been more important.
Naturally, you must take a customer-centric approach to your CEM efforts, otherwise you run the risk of designing an experience that doesn’t meet their needs, and that places you behind the 8-ball compared to your peers. You need to better understand how your customers think – what makes them interact with your brand the way they do, and how they feel about the experiences you provide them.
These insights go a long way, but what exponentially increases the value of this customer feedback is how you leverage these insights as part of your CEM to build better experiences for your customers.
http://customerthink.com/the-true-value-of-voice-of-the-customer-in-customer-experience-management/
Predicting the future is tough, so we decided to talk those who are shaping it. Dave Fish, founder of CuriosityCX and Michigan State University visiting lecturer partnered with Brian Keehner of the Michigan State master of science in marketing research program to interview more than a dozen of the sharpest technology minds from global enterprise feedback management firms to get their take on the future.
What are some of the big strategic bets the major players are making in the CX space? There was quite a bit of agreement, but also some noticeable divergence on the vision for the future. That spanned from data collection and ingestion, all the way to how to help clients take action. Here are the six key discussion points from our conversation.
https://www.ama.org/publications/MarketingNews/Pages/6-big-trends-driving-future-of-cx-technology.aspx/
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