tjeerdtraats: customer-experience*

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  1. It’s a new decade and while digital CX continues to maintain its status as a key differentiator, technologies are advancing at an ever brisker pace and organisations are becoming more proactive in their CX efforts.

    From the adoption of an agile approach and a narrowed focus on customer transparency and data compliance to the rise of hyper-personalisation, here are the top Digital Customer Experience (CX) trends to look out for in 2020.
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  2. Among the technology trends shaping 2019 and beyond, the adaptation of artificial intelligence (AI) to shape and propel the Customer Experience (CX) is among the most momentous. AI technologies, including machine learning (ML), natural-language understanding, and natural-language processing are proving transformative in acquiring, analyzing, and responding to customer feelings and feedback. In my experience, the scalability, speed and accuracy of AI is outperforming expectations and illuminating a forward path to even greater progress.
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  3. Voice of the Customer (VoC) is a strategy to improve the customer experience by incorporating customer feedback into marketing and operations.

    Implementing a VoC plan can drive a 10x increase in annual revenue. If done correctly, you can also use VoC to bolster your customer retention.
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  4. One of the key building blocks of Experience Management (XM) is X-data, which helps establish an understanding of how people think, feel, and behave. In almost all circumstances, organizations lack the X-data they truly need. So how should organizations go about instrumenting their operations to collect the right data?
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  5. The category of customer experience has emerged from a basic expansion of CRM principles to a more tangible measurement of customer success. In the digital world, customers do not hesitate to let companies know how they feel about them, mostly when they have done something wrong. Now to transform your customer base from simply customers to advocates, companies are required to deliver a customer experience that is not just acceptable or good, but exceptional.
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  6. For customers of the State Bank of India (SBI), the new year comes with three new changes in rules. Starting January 1, these changes in the services offered by the bank will become effective to improve customer experience. Upgrading to EMV chip debit cards, one-time password (OTP)- based ATM transactions and lower external benchmark-based rate are the services that will undergo changes.
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  7. Customer Experience (CX) plays a crucial role in your business's relationship with a customer. CX is all about how customers perceive you from the sum of all their interactions with your business.

    You need to play an active role in shaping these experiences to build a positive impression of your brand to the public. You can be proactive and manage your customers' perceptions by launching CX strategies.
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  8. It’s their service, the experience you go through and how they treat you. Customer experience is more officially known as the sentiment associated with a company’s ability to provide positive experiences to their customers. Services range from one-on-one interactions where a support agent resolves a customer issue, to exchanges with the brand on a more public scale.

    You can think of it as the product of an interaction between an organization and a customer over the duration of their relationship. And it’s a critical component of today’s marketing mix.
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  9. With e-commerce growing almost four times faster than in-store retail and set to account for half of all sales made by 2021, retailers must deliver a personalised, seamless and accessible experience, or customers will migrate to another brand. As customer expectations are changing, your customer experience (CX) has to evolve alongside those changes.
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  10. Customer behaviors and expectations evolve quickly. To differentiate themselves, companies have to continuously adapt their strategy. The need to provide outstanding customer service has never been greater than now – customers used more digital channels than ever before and expect seamless journeys through their transactions, even when switching between those channels.

    So, how do you stay ahead of the competition in 2020? What are the new expectations of customers? Here is our take on the essential trends to consider in 2020.
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