TALKING

There is no doubt that consumer habits have changed . Our world became increasingly digital and our reliance on connectivity sharply increased during the pandemic , where consumer experiences and expectations also evolved .

Whether ordering food , watching a movie or checking into a hotel , consumers want an experience that anticipates their needs , considers their preferences and provides a level of convenience they cannot get elsewhere .

Customer experience ( CX ) has become such a critical focus to businesses that research firm IDC suggests the spend in this area will reach an astonishing US $ 641 billion by 2022 already .

Competition for the attention and loyalty of customers has meant that companies increasingly shift their focus towards supplying new , unique experiences for them to enjoy .

No matter the industry , companies need to adapt and raise the bar of their CX strategies to meet the evergrowing expectations of their customers .

And given the new pressure on customer experience , companies have started to create dedicated roles and initiatives to address the new priority : Gartner recently found that nearly 90 % of companies now have a Chief Experience Officer or Chief Customer Officer – or equivalent roles – in their teams , indicating that CX is now a company-wide mission , not just a marketing responsibility .

And yet , despite the growing priority of CX and companies looking for ways to make a difference in real-time , only 13 % of businesses have the right tools and systems in place to be able to provide this type of support according to McKinsey .

2022 : Customer-centricity and the importance of trust

To be able to provide the best customer services and compete in a highly competitive landscape , business leaders will have to shift their focus to create unrivalled customer experiences : ‘ good enough ’ won ’ t cut it any longer .

Today , many companies have mastered the ‘ new standards ’ of friendly and connected user-service , but they need to go further . Digital portals that allow customers to access their accounts whether by phone , app or the Internet are now a given . So , how can companies go above and beyond and pioneer new customer experiences that will not only drive acquisition but also engagement and loyalty ?

The answer to this question is to get more conversational . Customers want dynamic , authentic conversations that have shed the bureaucracy and formality that they find tiresome . But to converse with our customers , we need to get to know them better . If companies truly know their customers and prioritize their wants and needs , they will win customer loyalty and with it , customer retention .

All customer experiences should be predictive , proactive , personalized and private . To achieve this , companies will need to predict customer behavior by working backwards through the existing customer journey and collecting and analyzing the digital breadcrumbs left behind .

The use of Artificial Intelligence ( AI ) will be crucial to achieve this . While AI has long been used to enhance customer experiences , with chatbots , for example , bland automated responses and delays

Mark Smith , VP of Digital Engagement Solutions at CSG

Competition for the attention and loyalty of customers has meant that companies increasingly shift their focus towards supplying new , unique experiences for them to enjoy .

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