The travel industry, one of the world’s largest industries, has changed drastically over the last few years as a result of digitisation. Digitally confident customers now seek more control of the booking process, making the demands for good (online) service even higher than before. So what does this mean for travel marketers? You guessed it, the Voice of the Customer must become a top priority.
https://mopinion.com/travel-companies-voice-of-the-customer/
As 2018 fades to a close, Retail Customer Experience reached out to industry watchers, customer experience experts and those in the know—in the trenches of customer experience technology, advancements and innovation—and asked them to share what they expect to come into play in 2019.
Here's what they had to say:
https://www.retailcustomerexperience.com/articles/experts-share-2019-retail-customer-experience-predictions/
Do you know what the difference is between successful and unsuccessful businesses?
The successful ones understand their customers.
They pay close attention to what their customers are saying. They know that business metrics like revenue and churn tell only a part of the story. They understand that to know why customers make certain decisions, it is critical to understand customer perspective.
Don't believe me? Here's what Steve Jobs once said about it: "Get closer to your customers than ever. So close that you can tell them what they need before they realize it themselves."
If you dream to become an industry leader, you have got to listen to your customers -- because customer-perceived value is one of the leading drivers of business success. You need to know:
https://blog.hubspot.com/service/voice-of-the-customer-methodologies/
The latest trend in today’s data-centric world is machine learning and artificial intelligence, and AI is looking like the go-to technology and buzz for 2019. In fact, Gartner recently released a Smarter With Gartner report that identifies AI as one of their top 10 strategic technology trends for 2019. And a McKinsey Global Institute economic model estimates that about 70 percent of companies will adopt at least one type of AI by 2030.
Given the projection of AI, it’s worth noting that the possibilities and potential for AI-driven applications to enhance Customer Experience (CX) seem endless — from chatbots and personal assistants to text & sentiment analytics that can turn customer feedback into a roadmap for CX improvement. If, however, you’re thinking about jumping on board as soon as possible, think again.
http://customerthink.com/five-prerequisites-for-adopting-ai-to-improve-cx/
"How satisfied are you with your bank?" is a staple question in Voice of Customer (VOC) surveys. However, one question that is almost never asked is "How proactive is your bank in reaching out to help you with your unique financial goals?" A handful of banks are emerging as leaders in this respect, becoming proactive by deploying high tech conversational banking capabilities that enable crucial two-way conversations with their customers. These banks realize that conversational banking is fast becoming the "third pillar" of their bank distribution network, along with mobile banking and an optimally sized branch presence.
https://www.finextra.com/blogposting/16422/conversational-banking-how-to-start-the-conversation/
I recently discussed the importance of getting Voice of the Customer (VOC) feedback and common methods, such as surveys, to understand customer perceptions and expectations across different touch points. To be effective and acquire actionable insights, questions must be designed with best practices applied. I also recommend a “test & learn” approach.
Writing and launching surveys has become a science and an art. I have seen cases where surveys have gone wrong because of undefined goals or wrong objectives. For example, if you consider the Net Promoter (NPS) question, you would not survey customers for the sole purpose of knowing IF they would recommend a company or its products. Instead, you should focus on understanding the reasons WHY customers would or would not refer. Also, you want to avoid asking leading questions that influence responder opinions, otherwise, you will not obtain “voice of the customer” feedback that is authentic and useful. While these are obvious tips, some things are not so clear like how much does survey question order matter?
http://customerthink.com/nps-survey-question-should-it-be-first-or-last/
Every year, the customer service industry talks about the changing consumer landscape and how and how companies need to address their customers’ preferences RIGHT NOW or risk massive churn the likes of which contact centers around the world have never seen. Like all prognostications however, some predictions come true and others do not; or at least do not with the immediacy visionaries forecasted.
Look at the obituaries written for voice in customer service. How many have been written and how many have been wrong? The decline of voice has been forecasted for years and yes, it has declined steadily but to manhandle Mark Twain’s famous quote, the reports of voice’s death are greatly exaggerated.
http://customerthink.com/consumers-are-evolving-the-customer-experience-are-brands-evolving-with-them/
In the ‘Customers 2020 Progress Report’ (Walker), it is predicted that Customer Experience (CX) will surpass price and product as the key differentiator by the year 2020. Right now, CX and Voice of the Customer (VoC) are considered to be the two most important areas of improvement if a business wants to remain competitive.
For a B2B company, the ability to retain clients can be the difference between success and failure. So understanding the Voice of the Customer and using feedback to inspire meaningful change is paramount. Here we look at why VoC is important for B2B, and how it should be used in order to be provide value.
https://www.iris.xyz/sell/client-experience/voc-program-vital-your-b2b-business/
Collecting and measuring team performance through KPIs is a great way to assess the effectiveness of sales processes. This is because KPIs are extremely informative when it comes to how well, or how poorly, sales teams are completing goals. It is important to select a few sales KPIs to focus on, as opposed to try to improve them all at once. Choose the ones that are more relevant to your company goals and measure them over time to get more visibility and control over your sales performance. Here is a list of 14 Sales KPIs that are commonly used by sales organizations:
https://www.business2community.com/brandviews/dealhub/which-sales-kpis-should-your-team-measure-02148257/
Netflix has long been known to use algorithms to predict what you may want to watch based on what you have viewed in the past. It now also customizes the artwork shown for each recommendation, based on the customer’s most-watched genres. Netflix is one of many companies focusing on personalization as potential profit. This personalization allows CIOs to directly engage with the customers they are trying to sell to; this direct interaction allows for new opportunities to innovate.
A simplistic approach is to directly engage customers in the innovation process in order to understand their demands and increase the likelihood of success. The more complex answer is to create a comprehensive approach, differentiate customers and limit direct engagement to ensure accuracy without becoming intrusive. This can be accomplished using personalization, crowdsourcing and listening to the voice of the customer.
http://www.cxotoday.com/story/engage-directly-with-customers-for-it-innovation/
