Why CX is more important than price
Engaging customers via a successful CX strategy takes the guesswork out of product innovation and ensures a more successful release. Business communication platform Slack has a dedicated customer experience team that not only helps customers become more successful in their own businesses, but takes on feedback to fine-tune the service. During the company’s public debut in 2019, its CEO attributed its growth to this collaborative approach.
Listening to your audience means more than adapting to what they’re saying about your brand and products. Observing wider trends can help inform new product launches and iterations. Adidas acknowledged consumer desire for more sustainable products and began creating shoes from ocean plastic, expanding its brand purpose and gaining a positive reputation.
This evolution of CX is driven by the convergence of branding and commerce. Traditionally, branding used to be the domain of emotions, identity and mass media; while commerce was focused on rationality and transactions. Since technology and data have become so ingrained in CX, branding and commerce now go hand in hand and each touchpoint with the consumer or buyer acts as a chance to both brand and sell. ‘Branded commerce’ is the key to meeting the new needs of customers, developing human experiences and building trust.
Shaping perception in the digital future
Brands are advancing their CX strategies to create more inclusive digital experiences that resonate with the broad needs of consumers, including preferences of the rising generation of digital natives, which include:
- Self-serve options provide the level of convenience expected from today’s brands. Customers seek 24/7 access to support and they value companies that provide it; whether that’s through chatbots, interactive voice response (IVR) systems or personalised knowledge bases. While self-serve tools can be incredibly adept at addressing customers’ needs, they can’t function effectively without human intervention, so optimisation efforts should always include training humans to pick up where the automation solution leaves off.
- Artificial intelligence is a game-changer in CX. With proper business context, AI can identify the root causes of CX issues and uncover the most predictive, exclusive and frequent journeys that customers take before and after an interaction, or between multiple interactions. AI’s complexity and precision orchestrate personalised consumer experiences across channels through data unification, real-time insights delivery and business context. Its application creates experiences that naturally integrate with consumers’ everyday lives and make them feel as if every product or brand experience was tailored just for them.
- Voice technology is radically changing the way customers discover and interact with the virtual world. It’s created opportunities for businesses to make their experiences intuitive, simple, and hassle-free. Virtual assistants, like Alexa and Google Nest, can differentiate between voices and provide more personalised messages and content. Brands that are already getting creative with their voice strategies include: Patron Tequila which helps consumers access custom cocktail recipes; Tide provides advice about removing stains caused by over 200 different substances; and Nestlé has created a skill that provides voice cooking instructions as you cook.
The emphasis is on CX
Business leaders have gained a deeper understanding of the tangible outcomes CX delivers and budgets allocated for improvements are rising as a result. As new strategies get introduced, the pressure is on internal teams to demonstrate value from the investment. Cassidy recommends: “using data to analyse how satisfied customers drive up revenue and lower churn. Highlight areas for improvement and make sure to keep an eye on your customer feedback, be it online or real-life interactions. Identify the aspects your customers like the most and the ones they don’t, then use these insights to focus on your strengths while minimising the impact of your weaknesses. Think about what changes can be made immediately, and which should be considered as part of a longer-term solution, enabling you to prioritise and plan ahead.” Customer experience should always be a work in progress.
Wherever you are in your CX journey, we’re here to help. Contact us to discuss the details.
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Client Development Director