Across industries, Big Data and Artificial Intelligence (AI) have proven to be powerful tools when it comes to informing companies about their target customers. Gartner predicts that by 2019, more than 50% of organizations will redirect their investments to customer experience innovations.
As a result, many organizations have built teams to collect and analyze data on every step of the customer journey – taking into account where, why and how customers interact with their channels. By analyzing this data in real time, companies are able to keep up with evolving customer demands.
http://customerthink.com/3-reasons-why-ai-and-big-data-will-fuel-the-customer-experience-in-2019-and-beyond/
Companies are increasingly turning to data science to better understand how customers interact with their products and services. And with good reason. A 2018 survey sponsored by SAS, Accenture, and Intel found that 58 percent of responding business leaders said that using customer analytics significantly increased customer retention and loyalty, and nearly half associated analytics with significant revenue growth.
https://mopinion.com/what-is-a-customer-feedback-metric/https://insight.kellogg.northwestern.edu/article/to-improve-customer-experience-embrace-the-outliers-in-your-data/
If there was an award for Buzzword of the Year, Digital Transformation would obliterate the competition. It may be overused, but digital transformation is a very real strategy that is changing the customer experience for retailers.
Simply put, achieving digital transformation allows retailers to combine the physical and digital customer experience into one seamless occurrence. According to a Walker study, 85% of buyers will pay more for a better customer experience. By 2020, customer experience will overtake price and product as key brand differentiators. This stat alone should be enough to have retailers doubling down on their digital strategies. However, implementing digital change is something that many retailers struggle with, mainly because a lot of companies don’t know where to begin.
https://www.retailtouchpoints.com/features/executive-viewpoints/how-does-your-customer-experience-stack-up/
What do you suppose keeps marketers up at night? Well, according to a recently published Content Marketing Institute/MarketingProfs survey, 68 percent of technology content marketers said their top challenge is creating content for multiple roles. And according to a 2019 Adobe digital trends survey (download required), more than half (55 percent) of respondents said one of their top three priorities for this year is the better use of data for more effective audience segmentation and targeting.
https://www.cmswire.com/digital-marketing/a-look-at-marketers-biggest-customer-experience-challenges-in-2019/
When we look at customer experience leaders today, it’s not surprising to find they have a number of things in common. From a macro level, we see that many of the individual strategies and tactics these leaders deploy roll up to three high-level areas of strategic focus: customer centricity, operational excellence and digital transformation, and the places where they intersect.
We see these brought to life in companies of all sizes ranging from hyper-growth startups to some of the most successful technology and financial services companies you can think of.
The good news is no matter what business you’re in, you can learn from these folks, and apply these lessons to your business as well.
http://customerthink.com/successful-customer-experience-3-critical-things-cx-leaders-get-right/
In most cases, price alone isn't the biggest factor in the low conversion rates that some websites see--it's subpar customer experiences. That's according to research by Qubit, a website optimization company, which decided to gauge just how valuable customer experiences are by analyzing more than 1.2 billion mobile website interactions.
The same is true for more than just website visits, though. If you want a cup of coffee or a box of Band-Aids, you could find a store for both on pretty much any street in any city. Companies that compete for your attention and loyalty these days can't really offer unique products anymore--after all, thousands of other companies in thousands of other cities offer the same.
https://www.inc.com/rhett-power/if-you-want-to-thrive-focus-on-customer-experience.html/
Building a great product or solution is essential, but a company won’t go very far if it can’t provide a robust customer experience. With 73 percent of clients worldwide indicating that it’s an important factor in purchasing decisions, businesses have to ensure excellent customer experience to not only meet demand but also keep up with the competition.
Companies also need to understand that expectations and demands are high. People care about having access to instant, consistent, and contextual conversations with customer support teams across several channels. As such, it’s imperative that they’re available on channels customers already trust and enjoy.
https://www.techinasia.com/rules-modern-customer-experience-game/
A new study from UserTesting should sober up email marketers, and just about anyone involved with the customer experience.
Of 1,600 professionals surveyed, 85% say their customer experience needs improvement.
Worse, 44% have never heard of the term digital transformation -- a key part of improving customer engagement -- if you believe the report. And digital transformation ranks near the bottom of present and future trends.
The study shows that 34% in the process of undergoing a digital transformation. Another 28% don’t know what that is, and 16% are simply not doing it. Only 22% say they are done.
https://www.mediapost.com/publications/article/333834/most-firms-say-their-customer-experience-needs-a-b.html/
With a history spanning over five decades, Virgin Group is a collection of more than 400 companies across several industries around the world. Be it riding the rails with Virgin Trains, spending the night in a Virgin Hotel, or placing calls with Virgin Mobile, Virgin companies are renowned for offering a unique and exceptional customer experience. While Sir Richard Branson, founder of Virgin, has made many statements on the topic of serving customers well over the years, he has equally many things to say about treating employees well, as evidenced above.
http://customerthink.com/fix-the-agent-experience-to-improve-the-customer-experience/
Providing a single repository that delivers a 360-degree view of the customer enables an organization to deliver a highly differentiated and much more engaging customer experience (CX). Brands who leverage a CDP are already proving how IT and marketing teams can work together to drive business success.
As organizations deploy their first CDP use cases, or plan to do so, Adobe’s experts have some important tips that can help improve the chance of success with these projects. The most important is that the CDP must support both known and unknown data. An unknown contact is one that may not be a registered or named user yet is still a valid contact or website visitor. Adobe has designed their use case with the capability to bring together known and unknown data to activate real-time customer profiles across channels throughout the customer journey.
https://www.cio.com/article/3385116/the-customer-data-platform-your-next-step-in-optimizing-the-customer-experience.html/
