Digital First consumers, those shoppers who rely heavily on digital communications when they shop, have higher expectations than the average consumer. They are a distinct consumer segment that needs special understanding because that understanding can focus retailer resources on what is most important to their customers.
In an excellent new study by Alliance Data’s Analytics & Insight Institute, I uncovered what digital consumers expect from brands when it comes to their marketing and communications programs. I also learned what brands believe consumers want from them. The key, of course, is to be aligned so the retailer successfully meets customer expectations.
https://www.forbes.com/sites/walterloeb/2019/09/23/digital-first-consumers--a-new-way-retailers-must-think-about-customers/#4011acd7337f/
Marketers are no strangers to the concept of customer retention. Studies suggest that increasing your retention by a mere 5% can increase your profits exponentially by 25-95%. One excellent way to do so is by using videos. The appeal of videos is undeniable, which is why the number of businesses using videos as a marketing tool has increased from 81% in 2018 to 87% in 2019, and 83% of marketers admit that videos have a good ROI.
The point being that videos are excellent for engaging your audience and ensuring their continued association and loyalty. If you haven’t already used videos for post-sales activities, this article will provide you with an insight into how to use videos for customer retention and help you refine your own policy for the same using videos.
https://customerthink.com/how-to-boost-customer-retention-effectively-using-video/
Diary studies can be a great way for CX practitioners to get a window into customer behaviours, attitudes and emotions. So what are they and how can organisations use them?
There are several quantitative research tools available to help you understand what customers want and think of you. Most people know about and use focus groups, observations and shadowing, mystery shopping and one-to-one interviews. But a tool that is used less often are diary studies.
People have been keeping diaries for centuries from Pliny to Samuel Pepys to Anne Frank. They help people record and make sense of their experiences, reflect their moods and feelings and put things into perspective. And they often prove a cathartic experience for the writers as an outlet to express their emotions to events.
So, in this article I want to explore the concept of diaries in more detail and how they can help you to design better customer experiences.
https://www.mycustomer.com/customer-experience/voice-of-the-customer/how-to-use-diary-studies-to-better-understand-customer/
NPS, CES, and CSAT are customer loyalty metrics. They’re used to measure the level of loyalty that a customer has toward your brand. Customers are considered loyal when they consistently purchase from your brand over an extended period of time.
How do you get loyal customers? A great customer experience (CX), of course.
In recent years, research by CustomerThink, Forrester, and Gartner have found at least 70% of business leaders believe CX will help their companies differentiate in a world where products and services are increasingly commoditized, and competing based mainly on price is not a viable long-term strategy.
An indisputable key component of a customer experience strategy is the Voice of the Customer (VoC) program, also known as customer voice. It captures, analyzes and reports on all customer feedback—expectations, likes, and dislikes—associated with your company.
In your VoC program, there are two types of customer data that you should collect: structured data and unstructured data. Today, we’ll discuss the three most popular customer loyalty metrics that fall under the structured category—NPS, CES, and CSAT—and the role that each should play in your CX strategy.
https://www.business2community.com/strategy/nps-ces-csat-which-one-is-the-best-metric-02242935/
We now exist in a world where technological innovation is empowering customers to expect more from the brands they deal with, to switch when they're not happy or satisfied, and share their negative experiences online.
Recently, Brightpearl conducted a survey of millennial shoppers that revealed millennials can be particularly hard to please. Over two-fifths (45%) admit to being less loyal to brands when compared to a year ago, and are quicker to abandon companies that don't meet expectations.
Buyers today have a lot of choice and an array of products to choose from, so it's understandable many brands are struggling to get customers to stick around for the long haul. An enormous 76% of shoppers report it's now easier than ever to take their business elsewhere, while a quarter of millennials would change where they buy goods, based on the shopping experience. Millennials are also the group most unlikely to return to a brand if they have a bad shopping experience.
https://www.retailcustomerexperience.com/blogs/why-its-time-for-brands-to-prioritize-the-happiness-of-millennial-shoppers/
What if I told you that eventually, every customer interaction will be personalized? And I’m not just referring to marketing emails and Amazon product recommendations — I mean every touchpoint and interaction throughout the customer’s buying journey.
Sound far-fetched? It isn’t. According to McKinsey,
40 percent of retail CMOs
say personal shoppers will use AI-enabled tools to improve service, and 37 percent say facial recognition, location recognition and biometric sensors will become more widely used. Trendsetters Starbucks and Sephora already use GPS technology and company apps to trigger relevant in-app offers when customers approach a store.
But it won’t stop there. As AI and machine learning algorithms continue to mature, they are churning out predictions that are impressively — almost eerily — accurate. And it’s a good thing, because to keep pace with customer expectations for individualized service, business owners will have to provide extremely personalized, relevant experiences that unify brand interactions across channels.
https://www.forbes.com/sites/michaelfertik/2019/09/26/its-time-to-get-personal-with-your-customer/#524340285e05/
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