Customer-Centric Roundup: July 2017
by iperceptions, on Aug 1, 2017
The Customer Experience continues to be one of the hottest topics in the business world, which continuously brings about a slew of interesting articles and stats that shed light on the importance of offering a great CX.
Here are just some of the many articles that caught our eye this month:
E-commerce keeps taking a bigger piece of the total retail pie
With an increasing amount of options and the convenience of making a purchase online, it’s no surprise to see more and more consumers making the switch to buying online as opposed to in-store.
eMarketer predicts that worldwide retail e-commerce sales will reach $2.290 trillion this year, 10.1 percent of all total retail sales. This would be the first time that this figure reaches double figures, and it will only keep increasing in the next few years to reach 16.1 percent by the end of 2021 (accounting for nearly $4.5 trillion). This goes to show the importance of offering a great customer experience online, including a strong mobile app experience.
eMarketer also provides an interesting stat that shows how much of an impact online retail giant Amazon has had on consumer shopping habits. 28 percent of consumers say that Amazon has caused them to shop less often at retail stores. This is no doubt having an impact on brick-and-mortar store traffic.
The #1 thing that would improve the post-purchase experience? Better technical assistance
A strong customer experience program considers how consumers interact with a brand not only during the purchasing process, but also afterwards. A strong post-purchase customer experience can boost customer retention, which can only affect your bottom line for the better.
MarketingProfs recently looked at research by the CMO Council and LiveTechnology, which showed that over half (51.4 percent) of consumers said the post-purchase experience could be boosted with better technical help or assistance. This was followed by better warranty / claims processing (37.7 percent) and better repair and / or maintenance (34.6 percent).
It’s important to remember that the customer experience doesn’t end at the time of purchase. As such, making sure you have a strong post-purchase customer experience infrastructure in place is crucial to get the most value out of each of your customers long-term.
The need to look beyond just conversion metrics
Conversion rate is obviously a crucial metric. Liraz Margalit recently wrote an article for CMSWire that looks at the need to look at experience metrics to better understand conversion, whether successful or unsuccessful.
A consumer who converts might actually have had a great amount of difficulty doing so, the same way that someone who did not convert might not necessarily have had a bad experience. However, if we only look at conversion rates, it’s impossible to decipher these experiences. What works? What doesn’t? How difficult was it? And why?
Knowing the answers to these questions can prove invaluable to not only better understand your conversion metrics, but also to find ways to improve it.
Breaking down organizational silos is important to create a customer-centric culture
The Customer Experience has a lot of moving parts, each impacting and involving different departments of the organization. So it makes sense for different departments in an organization to work together to tackle it head-on.
As part of their "A Marketer's Best Friend" series, Marketing Week interviewed two executives at Forbes, CMO Tom Davis and Chief Insights Officer Bruce Rogers, to discuss how their teams work together to create a customer-centric culture. A couple of interesting insights mentioned during this interview included Bruce Rogers stating that,
"I think the customer at the center of everything kind of naturally helps you break down barriers and silos between organizations."
Tom Davis then offered a piece of advice with relation to organizations needing to adjust themselves in order to to embrace this customer-centric culture:
"You have to embrace change, you cannot stay with the tried and true. Even if you're having good results, assume they're temporary, and I think if you really want to change, you just have to get very comfortable being very uncomfortable."
This interview shows how two key members of the Forbes C-suite are working together to put the customer first, and how organizations can benefit from this customer-centric mindset.
Infographic of the Month: The Human Conversional Model
The customer experience entails any and every interaction a consumer may have with your brand. So naturally, if you want your CX program to succeed, you have to know how to interact with your customers in order for both you and them to get what you want.
The Temkin Group published this great infographic that looks at The Human Conversational Model, which provides “the foundation for building compelling interactions with customers”. This model is comprised of seven elements, including “contextual framing”, “intent decoding” and “supporting feedback”, which are divided into two processes: Cooperative Interface and Background Mindfulness.
As stated in the infographic: “If companies want to improve their interactions with customers, they need to treat them more like conversations.” To do this, companies need to have the foundation in place to be able to look eye-to-eye with their customers to have a fulfilling, two-way conversation.
Blog Post of the Month: 2 Ways to Tackle Shopping Cart Abandonment Using Feedback
For a digital marketer, there is perhaps nothing more frustrating than seeing a visitor place a few items in the cart, only to leave the website without making a purchase. This scenario is what keeps a digital marketer up at night. So, you decide that you want to collect feedback from your purchasers / failed purchasers to learn more about their experience. But when is the best time to prompt these visitors for their feedback?
In this post, we look at two crucial times you can prompt your visitors for their insights so you can leverage their feedback to tackle shopping cart abandonment.
Banner image source: Pexels