Why Customer Experience Management is Crucial for Success?

Customer experience has always been a top priority for businesses and this new decade will be no different, as several companies are focusing on improving customer experience, now more than before. Customers tend to stay loyal to the companies due to the experience they receive from them, and if customers’ demands are not fully fulfilled, chances that they'll leave are now higher.

As per the report by Econsultancy and Adobe, B2B companies state the single most factor they are excited about in 2020 is the customer experience beating the other factors such as content marketing, data-driven marketing, video marketing and social. Also, Temkin Group’s findings say that companies that earn more than $1 billion annually can expect to earn, on average, an additional $700 million within three years of investing in customer experience.

“Messaging apps like WhatsApp have had a sweeping influence in India, and brands such as 1MG, a healthcare e-commerce platform, and Milaap, a crowdfunding platform, were seen as some of the earliest adopters these tools to make their support experiences faster and easier than ever before. In 2020, we will more companies integrating messaging solutions like WhatsApp into their CX strategy. Looking into 2020, customers will continue to expect more from businesses, regardless of whether they are digitally native, disrupting, or transforming their industry. In line with this, more companies will recognize the power of adopting an omnichannel CX strategy to give their customers an increasingly seamless experience. I also expect to see higher adoption of AI and self-service, particularly amongst millennials and Gen-Zers who, according to our data, are more comfortable finding solutions online via FAQs and help centres”, commented, KT Prasad, Country Sales Director, Zendesk.

Sooner, bots will be integrated with all the communication channels to improve the quality of interaction. With the help of AI, chatbots will be weaving the responses for individual customers, and thereby automating routine interactions, which will allow the customers to resolve basic concerns without agent support. Besides, customer behaviour will be observed closely and interactions will have a direct impact on the customer experience. Also, the predictive technology will analyze the audio streams, recorded voice files, emails, chats, social media engagements that can be used to eliminate the revisits to the transactional history.

Augmented Reality (AR) gives that extra real feel to the customers. Retailers such as fast-fashion chains, cosmetics, furnishing giants already started implementing AR to start interactions with customers more interactive and engaging. Keeping in mind that customers are savvier these days and transparency will be key in strengthening the customer experience. However, companies have to publish relevant data and information to bring in that transparency factor.

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