Customer Experience is becoming an increasingly hot topic across all industries, and something that is being examined, analyzed and scrutinized more and more every day. In a world where customers have ever-expanding buying power, the ability to offer a strong, positive customer experience can sometimes be the difference between gaining a customer or losing one to a competitor.
There were many great articles written on this topic in April 2017. Here are just some of our favorites:
Very few organizations believe they deliver flawless experiences
Customer experience is now at the top of many companies’ priorities. However, according to research by Dimension Data as reported by CMSWire, only about one in ten organizations rate their Customer Experience delivery a nine out of ten. This research identified disconnected channels and a lack of clear strategy as culprits for why most companies fail in terms of their CX delivery.
On the other hand, those who performed well in this regard tend to listen to their customers, use customer data analytics solutions and implement processes to leverage that information to drive their strategies.
With that said, most organizations did agree on the benefits associated with improving the Customer Experience, such as increased customer loyalty (92 percent), a uplift in revenue (84 percent) and cost saving (79 percent).
Is the Internet of Things all it is cracked up to be?
The Internet of Things (IoT) has undeniably become one of the hottest topics in the world of technology in the last few years. With the continuous advancements in IoT, organizations are looking for ways in which they can potentially leverage IoT to their advantage. However, for most organizations, it appears this may still be a way away.
MyCustomer recently looked at results from research performed by Genesys and Frost & Sullivan, who interviewed 1,000 CX leaders in European organizations. Based on their research, 62 percent of respondents stated that they are prioritizing the integration of IoT into their Customer Experience initiatives. However, only 10 percent can actually define its value proposition in driving the customer experience at this time. Despite this, of those who have already invested in IoT in their organizations, over half are seeing a strong positive boost in customer satisfaction.
While organizations are thinking deeply about how to best leverage IoT, one thing is for sure: the next few years will be IoT driven.
Customer data is key to improving the customer experience
If the customer experience is to be the driving force behind your organization’s strategies, then you need your customer data to fuel it.
In an article for Forbes, Daniel Newman, principal analyst of Futurum Research and CEO of Broadsuite Media Group, examines why companies must be data-driven if they want to improve the customer experience. Newman touches on how data is the only way you can really highlight barriers and issues that are causing poor customer experiences. As well, so long as you actually use this data (80 percent of which in fact remains untouched), it can help you achieve your mission of optimizing the customer experience.
The CMO's role evolves to meet expanding Customer Experience demands
Marketing is often at the forefront when it comes to meeting customers' increasing demands for more personalized and tailored customer experiences. This is why the CMO role has changed so much in recent years, says Jake Sorofman, a research VP at Gartner.
Sorofman spoke to CMO.com about the changing role of the CMO, and the skills they must now learn to meet the new requirements of this position. One of the main skills that Sorofman highlights is being able to understand customers both from the perspective of customer economics and customer need.
Infographic of the Month: 'The future of search and the new 3Ps of marketing'
Opening a new browser tab and entering a search query has become almost second-nature to some of us when we want to get something done online. Customers' needs are constantly changing, and are complemented by an increasing amount of buying power. To meet these changes, people expect to find what they are looking for faster and more conveniently.
Bing Ads prepared an infographic that looks at how search is expected to change to meet customers' developing needs, and introduces the 3 P's of the future of search: Personal, Pervasive and Predictive.
Blog Post of the Month: ‘Customer Experience Metric Series: Effort’
Nowadays, you can do almost anything online, but as our knowledge and expectations of different websites have evolved over time, it is no longer enough to simply be able to do most of our tasks online. Many of us seek out the same capabilities online that we look for when we have something to do in-person. Among these capabilities - we want to be able to do it easily, and with as little stress as possible.
Part 1 of our Customer Experience Metric Series looks at ‘Effort’, what it is, how it can be measured, and why this is a crucial CX metric that you should be measuring.
Image source: picjumbo