5 recent CX stories you should check out
by Philippe Aussant, on Feb 27, 2020
Based on how much Customer Experience (CX) in general evolved in the 2010s, it will be interesting to see where we will be just ten years from now.
In this post, we look at some notable CX and CX Management stories, articles, and stats that recently caught our eye. From the omni-channel experience to data privacy to customer reviews, these stories touch on just some of the things that will remain hot topics well into the 2020s.
BOPIS continues its rise as a key omni-channel experience
The world is becoming more digital, seemingly by the day. However, the role of physical locations, especially when it comes to the omni-channel experience, remains critical to many customers’ journeys.
Take, for example, a recent study by the National Retail Federation (NRF), as reported by eMarketer. As reported by eMarketer, almost 90 percent of customers are interested in trying a “click-and-collect” feature, also known as Buy Online, Pickup In Store (BOPIS).
Another feature that raised interest was “curbside pickup”. 81 percent are enticed by buying online and driving over to the store to have their order loaded into their car.
The overlap of these channels along the customer journey is becoming more and more common.
- According to RetailDive, 56 percent of shoppers visit stores first to see, touch, and feel products before buying them online.
- A Bazaarvoice study finds that 82 percent of smartphone users use their phone in-store to research products they are about to buy at the location.
Customers’ preferences for how they move along their journey are continually evolving—their ability to leverage multiple channels (often simultaneously) to achieve their goals, as well. There are many examples of retail brands already adjusting their operations to cater to this growing group of omni-channel customers. However, it is not far-fetched to think that more and more brands will follow suit in the coming years.
A key objective for CX professionals in 2020
Customer Experience encapsulates everything that can impact the experiences that brands deliver throughout the customer journey. Ample research has shown the impact of Customer Experience on the bottom line. However, it will be more critical than ever for CX professionals to show the ROI of their efforts on their brand, according to Forrester.
Forrester predicts 1 in 4 CX professionals may lose their jobs in 2020 if they can't prove their value to the business. Harley Manning, VP, Research Director at Forrester states that:
“Those who do keep their jobs will do so by ensuring that their metrics and measurements relate to what matters most: KPIs with a dollar sign in front of them.”
Interestingly, Forrester also predicts that the number of CX executives will rise 25 percent. This boost would primarily be driven by a "surge in newly created positions for chief customer officers (and equivalent titles)", to be filled by professionals without a CX-specific background.
Whether it’s higher conversion and revenue, cuts in costs, or improved customer satisfaction and retention, the pressure will be on CX professionals to tie their efforts to specific business outcomes. Ensuring their CX measurement and Voice of the Customer (VoC) programs are in place on all touchpoints along the customer journey can go a long way to help achieve this goal.
The personalization-privacy paradox continues
A recent Episerver survey of over 4,000 online shoppers reveals that:
- 53 percent want brands to put more priority on their online anonymity in 2020
- 61 percent want brands to prioritize personalization as much as they did in 2019.
The balance of personalization and customer data privacy has been examined and debated often in the past. Personalization relies on a brand knowing certain information about a customer. The findings above suggest that this paradox will remain a hot topic for the indefinite future.
In the age of GDPR and CCPA, customers are more conscious and wary of how brands collect and use their data. Consent and transparency in how their data is collected is used are non-negotiable.
That has only increased the need for brands to leverage “zero-party” data. Coined by Forrester, this is information that a customer voluntarily shares with a brand, like customer feedback. In terms of personalization, this might include a customer’s website visit intent or their purchasing preferences.
Engaging customers directly for their feedback and asking them to share these insights with your brand is the way to overcome this paradox.
Infographic to check out: How businesses approach customer reviews
Every post-conversion interaction between you and a customer can impact their willingness to stick with your brand over time. Not to mention, their willingness to tells others about those experiences via word-of-mouth or customer reviews.
Regarding the latter, nearly 95 percent of shoppers refer to online reviews before making a purchase, according to the Spiegel Research Center. That means brands must always be at the top of their CX game.
Social Media Today recently released an infographic that looks at the business impact of customer reviews. Plus, it also looks at how brands approach reviews as they come in. For example:
- About 70 percent of businesses attempt to contact a negative reviewer to try to address their issue
- Only about 50 percent make changes to the business based on negative customer reviews to mitigate future issues.
Converting bad experiences into positive ones plays a critical role in a company’s customer retention efforts. For example, engaging customers about their experiences right after they take place, and quickly closing the feedback loop, can go a long way towards preventing bad experiences from being shared for the world to see.
Featured iperceptions Blog Post: 3 Customer Retention Strategies to Hold the Keys to Customers’ Hearts
Customer retention is critical to the long-term success of any brand. Customer retention strategies can come in many shapes or forms, but there is one vital ingredient they all need for them to succeed: strong communication.
In our featured post (released appropriately around Valentine’s Day), “3 Customer Retention Strategies to Hold the Keys to Customers’ Hearts”, we look at how your brand can build communication into your CX program to:
- Strengthen your relationship with your customers
- Identify and address issues quickly
- Nurture your customers to become loyal brand advocates eventually
Banner image source: Unsplash