There’s been a steady increase in customer service standards over the last several years, and because of it today’s customer expects a higher level of service than ever before. Recently, organizations have been remodeling their businesses with the customer’s experience at the core. Are you falling behind? Because…
These 4 CX trends are shaping the future of customer interaction
A basic rule of economics is that the lowest price for a product will sell—ceteris peribus. However, this is changing. Unless your business’ niche is being low-cost (i.e. No Frills), customers will trend toward the better experience between you and your competitors.
By 2020, customer experience will overtake price and product as the #1 factor in purchasing decisions.
By 2020, customer experience will overtake price and product as the #1 factor in purchasing decisions.
-Walker’s ‘Customers 2020’
This means that business competition is no longer getting customers the best value for their dollar, but the best value for their time, effort, experience, and dollar. Sound overwhelming? In this article, we explore how modern business are adapting to meet these new expectations.
Businesses these days simply can’t afford negative customer experiences. Unhappy customers give business to competition, spread negativity around your brand, and deter other leads from doing business with you. So, whether you’re selling hotdogs on the street or TV’s online, these four trends will surely have an impact on the way you interact with your customers in the coming years (if they haven’t already).
1
Personalize your customer’s experience
If your business has a website or app, aspects of the content and design should be tailored for each customer. If you haven’t already, set up data trackers to monitor stats such as which pages get the most visits, for how long, etc… If your site/app has a login feature, consider giving users the opportunity to customize their color scheme, font size, and any other customizations that might apply.
74% of customers feel frustrated when website content is not personalized.
These are the basics to CX design. Once you are comfortable tracking some basic stats, you can look into ways to extrapolate data to make meaningful design and strategy adjustments, namely campaigns and customer relationship management (CRM).
74% of customers feel frustrated when website content is not personalized.
-Infosys
2
Artificial Intelligence & Automation
Integrate AI and automation with your current strategies to make them more effective. You can set up automated emails when your clients complete specific tasks. For example, we send an email when you sign up for our newsletter and when you make a purchase on our sales site. You can also automate some parts of your business that have to do with customer interaction. Use a recorded message to direct incoming support calls, or a chatbot to direct online support chats. Chatbots can start conversations and decide when (if) it would be best to give the conversation over to a real person. Modern chatbots can also help you filter support messages to different people or departments, saving time and resources.
27% of consumers weren’t sure if their last customer service interaction was with a human or a chatbot
27% of consumers weren’t sure if their last customer service interaction was with a human or a chatbot
-PwC
3
Campaigns & CRM
Campaigns are a means of organizing customer interactions to promote business interests. For example, if your regional manager is behind on a quarterly quota, they might run an advertising campaign to boost sales. Most businesses that take their customer interactions beyond the storefront are always running campaigns; some can last years or even indefinitely. Use CRM software (such as Salesforce, Infusionsoft, Hubspot) to get the most out of your campaigns. Track individual customers, customer segments, and their interactions with your content. For example, CRM can tell you how many people have used a promotion code, where they got the code, and what they spent it on. Use CRM data to guide your campaigns and capitalize on sales opportunities.
4
Make happy customers
Above all else, your job is done when a customer is pleased with the service they have received. Rather than focusing on today’s sale, try to secure the maximum potential future sales—or lifetime value. Companies are considering the ‘lifetime value’ of a customer much more now than ever before. After-all, it’s an investment in yourself. When you make a sale AND the customer is happy with the product and the service they’ve received, this drive even more sales; as your satisfied customers will recommend you to other leads.
One happy customer refers up to 9 people to your business
American businesses lost $62B to poor customer service last year
One happy customer refers up to 9 people to your business
-White House Office of Consumer Affairs
American businesses lost $62B to poor customer service last year
-New Voice Media
If you have already been implementing these, you’ve put yourself in a great position. If not, there’s no better time to start than the present. These strategies are proven to drive sales and are the basis of tomorrow’s business environment. Once you’ve comfortably incorporated these strategies into your model, check back here for some next steps.