Strengthen customer support for a personalized customer experience
Delivering personalized and contextual experiences throughout the customer journey is a strategic imperative for business leaders.
In 2017, Microsoft claimed that for 96% of consumers, customer experience drives brand loyalty. As the world has undergone drastic changes in recent years, personalized customer experience has grown in importance and cemented its position as a critical differentiator between businesses.
According to Gartner, CX now drives more than 66% customer retention, more than price and brand combined. Thanks to Amazon, customers today take the personalized customer experience for granted, and some even consider it a “hygiene factor”. Studies show that 80% of customers prefer to buy from brands that provide personalized experiences.
As business growth is defined by innovative CX strategies, delivering personalized and contextual experiences throughout the customer journey is a strategic imperative for business leaders. However, a recent Gartner study shows that more than 70% of CX managers struggle to deliver differentiated experiences that increase loyalty and drive revenue. They are too busy solving existing customer dissatisfaction issues rather than focusing on developing innovative CX projects.
What drives customer loyalty?
This “first fix” strategy results in a huge gap between reality and expectations. While 80% of brands believe they deliver superior CX, only 8% of their customers agree. This brings us to the most crucial question: what drives customer loyalty in today’s crowded and increasingly competitive marketplace? The answer is: speed, convenience, consistency, but above all, customization. It’s not about the latest technology or cool designs; rather, it’s about bridging the gap by locating the sweet spot where technology meets – and complements – the human touch.
Realizing that customers rate some specific experiences as more memorable than others, business leaders want to understand how personalized customer experiences drive loyalty. Let’s take an in-depth look at the main CX drivers:
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Delight customers across all channels
Customer satisfaction across all channels starts with a clear understanding of critical moments in the customer journey that can be used to influence – from pre-visit awareness, to conversion during a visit, to building engagement after. visit. This enables CX managers to arrive at specific business results and identify the drivers of satisfaction at every stage of the journey. As customers move between channels and demand real-time access, 89% of brands successfully track unique customer interactions across channels to build a complete picture of customer preferences and behaviors .
Today, CX managers can take full advantage of the treasure trove of customer data available and leverage predictive analytics to better connect with their customers, anticipate behavior patterns, spot CX issues, and uncover opportunities in real time. This allows them to design innovative, personalized, and engaging experiences that momentarily delight customers and create a lasting impression that drives loyalty and increases revenue by 5-15%.
Provide customers with unhindered and instant support
As brands seek to delight customers, if there’s one word that could describe what consumers want from brands, it would be “convenience.” Whether it’s chatbots, interactive voice response (IVR) systems, online communities and forums, or frequently asked questions (FAQ) pages, customers are looking for real-time, unfettered access to information. support and value brands that deliver 24/7 resolution.
To meet customer demands for convenience, brands need to optimize their self-service capability and integrate it across all customer touchpoints, ensuring seamless CX. This helps customers find help quickly and increases their trust on the brand, adding to brand value. Faster, cost-effective issue resolution gives customers unparalleled control over purchasing decisions, ensuring return visits and repeat sales.
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Minimize customer effort through anticipation and perception of customer ease
With convenience as a guiding star, customers want quick, simple, and accurate answers to their questions when interacting with customer support, whether agent or self-service. Interestingly, customer loyalty depends on brands’ ability to deliver on their core promises, not on trying too hard to attract customers. CX leaders increasingly realize that delighting customers does not lead to brand loyalty; minimizing the effort they need to solve their problem does. By acting on this insight, brands can improve customer service (65 point higher NPS), increase repurchase rates (94%) and reduce churn.
Studies show that 32% of customers intend to stop doing business with a brand of their choice after a bad experience. So what can brands do? First, reduce repeat calls — the most common cause of customer stress — by anticipating and resolving associated downstream issues that cause 22% of all repeat calls. Leverage feedback from dissatisfied customers – train agents and reps for early resolution to anticipate customer issues and avoid the next issue.
Enable greater autonomy and better judgment within the customer resolution team
Although today’s savvy customers prefer self-service, they rely on real agent assistance for tricky and complicated issues. Typically, customers contact agents after attempting to resolve their issues through other channels. Therefore, an agent’s ability to pinpoint exactly where the last interaction ended is critical to providing a contextual, relevant, and personalized response that can hook the customer for life.
Such a critical nature of an agent’s role demands autonomy for faster decision-making. They have to make crucial decisions like authorizing a product return or granting a refund. It’s a classic example of bad CX if they have to put customers on hold to get approval for every decision. Based on their front-line observations, they can also provide anecdotal evidence that also helps CX leaders refine go-to-market strategies and deliver unique experiences.
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Understand predictive behavior to differentiate CX
To accomplish differentiated CX that resonates with organizational values, business leaders must take a data-driven approach that helps them truly understand what customers need. They must enable a paradigm shift in the way they design CX projects – holistic, predictive, accurate, and tightly linked to business outcomes. Leaders who dare to go beyond defined CX strategies and move into a mindset shift will successfully redefine their organizations through the experiences they deliver.
This transition to analytics-driven predictive customer experience won’t happen overnight. As research shows, most organizations still rely on surveys to gauge customer sentiment. However, forward-thinking CX leaders use available data to derive valuable insights into improving the customer experience. The accuracy of predictive analytics enables brands to better manage and measure their CX performance, enabling significant improvements in strategic decision making for marketers. OTT platforms like Netflix are a good example of predictive analytics.
Conclusion: CX is a differentiator. is your CX team?
Organizations can benefit from a holistic view of customer satisfaction metrics and each customer’s value potential that can be leveraged in near real-time to drive personalization.
With 81% of companies considering customer experience a competitive differentiator, business leaders are realizing the full potential of personalization to improve customer satisfaction scores and drive loyalty. BCG says brands with the highest customer satisfaction scores have seen better revenue and doubled shareholder value over the past 10 years.
That’s why the next era of personalized customer experience focuses on leveraging technology, data, and analytics to address key customer needs: simplify purchase, enable convenience, and improve satisfaction. .