The number one objective enterprises give for embarking on a digital transformation is to improve customer experiences with new engagement models, according to IDC’s 2017 global study.
This response will come as no surprise to CMOs. Marketing has been blazing this trail for more than a decade. And in most companies, the marketing leader has the best resume for leadership in this pivotal area. Yet in another IDC study, we found fewer than 10 per cent of US companies with CX initiatives believe those are primarily a marketing effort. Why?
https://www.cmo.com.au/blog/transformation-strategies/2017/11/15/how-to-become-the-customer-experience-custodian/
When Jeff Howe coined the name “crowdsourcing” in 2005, even he would hardly have believed a Google search for the word in 2018 would turn up millions of results. In reality though, “crowdsourcing” has been around in one way or the other longer than when Jeff invented the name 13 years ago.
But from a business (for-profit) perspective though, why is crowdsourcing important? Research has shown that 70 percent of buying experiences are based on how the customer feels they’re treated. And crowdsourcing is a great way to make customers feel they’re treated well. Let’s look at three ways you can do this.
http://customerthink.com/how-to-use-crowdsourcing-to-increase-customer-engagement-and-satisfaction/
According to a survey by Forbes Insights and Pegasystems that covered more than 200 U.S. executives, 88% of leaders have created a position responsible for customer engagement in the past 12 months. When taken seriously by companies, customer engagement creates an amazing opportunity for businesses to get to know their customers, build long-term relationships with them, and ultimately enhance their business performance. To make it last, as in any other human relationship, creativity and innovation are the main ingredients to a successful formula.
https://www.martechadvisor.com/articles/customer-experience-2/in-search-of-the-wow-effect-how-to-take-customer-engagement-to-a-whole-new-level/
In today's highly commoditised age where there is often little differentiation when it comes to competitive products and offerings, the biggest factor that prompts customers to patronise one brand over the other is often customer engagement. There are several studies that show the impact of customer experience on both customer acquisition and retention.
A study conducted by Bain & Company, in association with professors from the Harvard Business School, found just a 5% increase in customer retention rates increased profit by 25% to 95%. Therefore, customer experience is an important influencer of an organisation's profitability. Organisations are already starting to realize this. A recent Frost & Sullivan study found that about 80% of organisations in Asia-Pacific recognised customer lifetime value as the most significant business benefit delivered by customer experience.
https://www.itweb.co.za/content/Pero3MZgRyEqQb6m/
The days of quick customer experience wins through digital and mobile innovation are gone and organisations must tackle the more complex task of overhauling their culture in order to find sustainable improvement.
That was the consensus across panellists at CMO’s breakfast event, entitled ‘Creating more Intelligent Customer Customers’, held in Melbourne on 22 May. IAG executive GM of customer futures, Customer Labs division, Jill Baptist, said the emphasis of her team is on understanding how to cut through the noise and achieve that next level in customer engagement.
https://www.cmo.com.au/article/641852/panel-quick-wins-customer-experience-improvement-over/
In-store experiences are here to stay, and the technology being used is getting bigger, better and bolder.
With 81% of UK consumers seeing the physical store as vital to the shopping experience (according to November 2017 research from Vista Retail Support), incorporating new technology can enhance customer engagement and increase sales.
Current retail technology trends highlight the exciting new direction for in-store experiences and underline the importance of blending and balancing offline with online.
https://www.retail-week.com/retail-voice/retail-tech-trends-that-enhance-customer-engagement-/7029305.article?authent=1/
In many conferences in 2017, the buzz has all been around the customer experience, customer journeys or customer engagement. These topics come up in almost every presentation in a banking, hospitality, marketing or retail conference. However, there was little linkage between these “buzz” topics with loyalty nor branding. There is a correlation between the customer experience and how that impacts loyalty and an organisation’s brand. How does a brand inspire loyalty and how does the customer experience elevate a brand?
http://www.marketing-interactive.com/features/synchronizing-loyalty-customer-experience-and-branding/
A few years back, it seemed forecasters everywhere were predicting the demise of the call center as self-serve digital channels accelerated up the steep curve of early customer adoption. More recently, with the advent of automation in the form of Intelligent Virtual Assistants, natural language processing and other artificial intelligence-based tools, the extinction of the call center was revisited.
It is true that digital interactions are increasing. According to this 2018 McKinsey research, 48% of all customer care interactions will be digital by 2020.1 But another study states that a majority of consumers ranked speaking with a human on the phone as their preferred communication channel with a business.2 When you peel back the onion, it’s clear that digital channels and call centers need to work in concert to optimize customer engagement.
http://customerthink.com/the-value-of-cross-channel-voice-of-the-customer/
Travelzoo, a global publisher of exclusive offers and experiences for members, won the 'Best Use of Voice of the Customer' award at the 2017 Engage Awards, which celebrate inspirational customer and employee engagement excellence. The award was received at a glittering ceremony in London, following the sixth Customer Engagement Summit, Europe's highly regarded customer and employee engagement conference, held on 13th November and attended by more than 1,000 professionals.
http://markets.businessinsider.com/news/stocks/Travelzoo-Wins-2017-Engage-Award-in-the-UK-1001554044/
There’s a lot of talk that AI is the future, but the capabilities are already being widely used and it’s not really that scary, according to CEO of technology company Sherlok, Elisa Adams.
“AI is the new solution to better understanding the voice of the customer and while it does takes expertise, it doesn’t have to be overly complex or hard,” she told CMO during a recent interview.
https://www.cmo.com.au/article/630032/using-ai-enable-more-human-understanding-voice-customer-data/
