Over the last few weeks my team and I have been trying to make sense of the customer data platform (CDP) category of marketing tools. The CDP value proposition is to create a unified, complete picture of every customer that can be used to improve the customer journey and deliver a personalized customer experience across all marketing channels. Customer experience nirvana!
In trying to categorize all the CDPs (there are more than 40), the single biggest challenge has been to find two or three meaningful sentences that describe what each product does.
https://www.cmswire.com/customer-experience/b2b-customer-experience-fundamentals-your-product-description/
Customer Experience (CX) includes a combination of multiple elements that translate to a customer’s satisfaction with the experience and her overall perception of your brand. As marketers, what more can we do to ensure this is a positive, fruitful journey for her? Let’s look at some best practices.
In 2019, Marketers and CMOs can leverage MarTech in innovative ways to stand out in these times of information overload. Let’s start by setting the context with some perspectives about customer experience.
https://www.martechadvisor.com/articles/customer-experience-2/4-surprising-customer-experience-best-practices-to-try-in-2019/
Delivering an incredible customer experience is top of mind for every business today. Customers expect to be treated like celebrities by brands. They expect brands to know them, understand their preferences, and deliver relevant experiences. Experience has become the currency of brand loyalty and retention. More than half (55%) of companies surveyed by Gartner Research reported their digital ambition is to create a better customer experience.
Global businesses know they need to enable all lines of business to create holistic experiences, because differentiating only on price or product features is no longer a viable growth strategy. A 2018 Forrester Consulting study of global enterprises found that experience-driven businesses grow revenues 1.4x the rate of other companies and enjoy significantly higher customer retention rates.
https://www.cio.com/article/3374537/getting-ahead-with-customer-experience-data.html/
Customer experience is a memory. An impression that can stick in the mind for a minute or a lifetime. A positive experience can result in lasting loyalty, endorsement, and evangelism. A poor experience, on the other hand, can almost instantly mean the end of a brand relationship.
PwC reports that 79% of customers rate customer experience as the most important component of the purchasing decision after product quality and price. According to this research, 59% of consumers who love a brand are prepared to forsake it after having a series of poor experiences. The firm also claims that 17% will walk away after only one bad experience. Needless to say, this is concerning for any business.
https://www.forbes.com/sites/chriscancialosi/2019/03/21/how-blending-brand-and-culture-can-impact-the-customer-experience/#2ddb40c31f8c/
Customer experience is the interactions between the customer and the enterprise in the business relationship. It may include awareness, exploration, evaluation, purchase decision, retention, and after-sales service. The enterprises are always focusing on delivering better customer experience at every step of the customer buying process, not only for sales but also for customer retention. This process helps the enterprises to stay competitive in the market for the long run.
http://customerthink.com/5-apps-that-indirectly-help-enterprises-to-increase-customer-experience/
I like to think that we follow the golden rule: market to others as you would like to be marketed to. This really boils down to putting Customer Experience (CX) first. Being ‘customer-obsessed’ is certainly in vogue, as the Ritz-Carlton, Trader Joe’s, Netflix and others that made Forbes’ Most Customer-Obsessed Companies In 2018 list will tell you. But how can companies actually go about putting their customers first?
https://mopinion.com/how-to-increase-cx-through-testing-and-personalisation/
Today’s customers realize they aren’t always treated the same as all other customers. Some customers get VIP treatment and special offers, while many others don’t. Customers understand the difference and realize that companies are simply rewarding customers that deserve it a little more. You can learn more about this idea in a talk at Google on customer centricity found here.
That’s where customer experience comes in. Different customers have different kinds of relationships with brands. Fader uses the example of Stitch Fix, which offers a completely different box of clothes to each customer to create a one-of-a-kind experience. As technology and personalization continues to improve, Fader says that customized approach will become the rule more than the exception.
https://www.forbes.com/sites/blakemorgan/2019/03/07/customer-experience-for-your-most-valuable-customers/
What will you do differently this year to increase customer satisfaction and attract new business?
Based on our years helping companies with customer experience strategy and communications, the Beyond the Arc team shared insights on some top trends to keep on your radar this year…
http://customerthink.com/cx-in-2019-top-customer-experience-trends-to-keep-on-your-radar/
Avaya research indicates that only 14% of back offices are fully automated and tracked against SLAs, yet 'back office' operations such as delivery are among the top five considerations when it comes to repeat purchases and customer satisfaction.
Speaking at the Johannesburg leg of the international Experience Avaya 2019 roadshow on Tuesday, Natalie Keightley, Solutions Marketing Director at Avaya International, said: "Customer experience technology has been slow to integrate into the back office and slow to support workers. When companies have adopted customer experience technologies, they often focus purely on the customer-facing technology. So they may enable the text channel for the customer to speak to the organisation, but fail to consider how this connects to the back office."
https://www.itweb.co.za/content/G98YdqLxVLXqX2PD/
Nationwide, which banks 15 million customers in the UK, has enlisted AI from analytics firm SAS to analyze customer interactions more effectively and resolve issues earlier, per Finextra.
Nationwide's deployment of AI comes amid growing digital transformation efforts from incumbent lenders as they look to reduce operational costs and improve how they service customers. In September 2018, for example, Nationwide announced its intention to step up its digital transformation, saying it would invest a further £1.3 billion ($1.7 billion) on technology, taking its total tech investment over the next five years to £4.1 billion ($5.4 billion).
Here's how Nationwide deployed AI to identify customer pain points and strategize to resolve issues:
https://www.businessinsider.com/nationwide-sas-ai-customer-experience-2019-3?international=true&r=US&IR=T/
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