Every successful company knows that customer experience (CX) is important and that developing and refining it to delight customers is a priority.
However, there’s often a debate about who should own the customer experience project. Should it be outsourced to a bunch of consultants or subject matter experts? Or should it be managed in-house by a cross-functional team?
https://techwireasia.com/2018/08/why-you-shouldnt-outsource-your-customer-experience/
By now, most companies have at some level realised that they need to embrace digital transformation. For the most part, however, these efforts are still limited to upgrading IT infrastructure, with very little thought given to the rest of the organisation.
A more holistic approach to digital needs to be adopted and “the customer” should be given more focus in an organisation’s digital transformation efforts. It is, after all, customer experience (CX), more than any other factor, that sets an organisation apart from its competitors.
http://themediaonline.co.za/2019/12/what-does-digital-transformation-mean-for-customer-experience-in-2020/
In today’s competitive e-commerce environment, personalizing the customer experience is the number one priority: To drive conversion, the right message needs to be sent to the right person at the right time. How do you accomplish that? Increasingly, AI is emerging as the best way to offer a truly one-to-one experience to customers. A Gartner study notes that “by 2020, 85% of customer interactions will be managed without a human” and that by 2040, “more than 40% of all data analytics projects will relate to an aspect of customer experience.” So what does that look like?
https://www.forbes.com/sites/forbesagencycouncil/2018/07/16/use-ai-to-create-a-more-personalized-profitable-customer-experience/#7ce01f55f3a7/
Digital has completely upended the marketing and advertising world, fundamentally changing the industry as we know it. Now it’s less about campaign-building and more about the convergence of marketing and technology to guide digital transformation.
https://www.forbes.com/sites/forbesagencycouncil/2018/07/25/true-digital-transformation-requires-a-new-breed-of-agency/#30eb93ad4ff0/
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/
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/
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/
Australian consumers want a faster in-store retail experience complemented by customer service-enhancing technologies, according to a survey conducted by SOTI.
The international research, which surveyed consumers in Australia, North America, the UK and Europe, delivered some surprising results.
https://www.technologydecisions.com.au/content/it-management/article/mobile-tech-transforms-the-australian-retail-experience-913187019/
NGDATA’s annual Consumer Banking Survey found that consumers have increasingly high expectations and demand exceptional customer service in exchange for their loyalty. This means that banks and credit unions must accelerate digital transformation across their organizations so that they have the tools to become fully customer centric. Consumers must be at the center of their entire architecture, and meet the raised expectations for service providers.
https://thefinancialbrand.com/68968/digital-banking-customer-experience/
The digitalisation of society is progressing and fundamentally changing the behaviours, needs and demands of customers. The increased availability and sharing of data enables companies to improve the way they develop and offer personalised products and services. The expectation is that a variety of technologies is set to spur a fundamental change in the insurance industry. Examples are blockchain, the Internet of Things, robotics and artificial intelligence.
https://www.nn-group.com/Media/Article/Improving-the-customer-experience-through-digital-transformation.htm/
