With the EU’s General Data Protection Regulation (GDPR) going into effect this May, companies are scrambling to make any remaining changes needed to meet its guidelines. The regulation, which aims to strengthen and unify data protection regulation within the EU, gives customers control over their personal data and applies to any company that holds or processes personal data of individuals residing within the EU. Failure to comply with GDPR could cost companies up to €20M or 4 percent of annual global turnover.
To avoid steep GDPR fines, many companies are installing new processes and technologies with the hope that such tools will help them revamp the way they handle customer data. In fact, recent research shows that organizations are allocating millions of dollars on technology for GDPR. Still, confusion remains regarding which technologies to implement to ensure compliance, and many companies view the looming regulation deadline purely as a cost avoidance problem.
https://customerthink.com/the-gdpr-opportunity-getting-customer-experience-right/
Personalization is an essential part of the customer journey – most marketers agree – and it’s absolutely critical that brands deliver a true one-to-one experience to customers. However, they might not be achieving these outcomes yet because they are struggling with personalization. In that same report, 84 percent of senior marketers say the potential of CX personalization has not yet been fully realized, and as such, there is still a lot of work to be done in this area.
https://customerthink.com/the-key-to-solving-cxs-greatest-mystery-personalization/
In an increasingly connected world, a high-quality and efficient customer experience is more important than ever
And customers expect their experience to be seamless, digital, and hassle-free — emphasis on “digital.”
Businesses now find themselves in the midst of a fourth industrial revolution – the proliferation of next-generation technologies – where the growth of the cloud economy has made accessibility and shareability of resources instantaneous. This means customers will not tolerate slow or clunky processes from brands. As technology moves on, so too must the experience of the customer.
https://www.technative.io/the-three-major-problems-of-building-a-digital-customer-experience-in-the-cloud-economy/
Retailers concerned about the future of customer experience should be paying close attention to emerging markets, whose quick embrace of new technology offers mature market brands a unique chance to watch, learn and implement change – with little risk.
Jacob Younan, Associate Director, Global Solutions, LoyaltyOne
https://www.colloquy.com/latest-news/watch-and-learn-emerging-markets-experimental-technologies-and-the-customer-experience/
This Customer Think article outlines 20 real steps to cutting waste out of your products, services, and experiences to make sure you deliver what the customer needs to solve their pain points.
https://customerthink.com/what-are-the-customer-experience-steps-to-cut-poor-features-from-your-tech-product-to-enhance-cx-design/
Chatbots are a simple and fun way to help shoppers find what they are looking for and enhance their online customer experience. Thanks to recent advances, web developers are now creating chatbots that are ever-more human, aiding the flow of communication by recognizing verbal patterns and interpreting non-verbal signs.
https://www.cmswire.com/digital-experience/what-comes-next-for-chatbots-and-customer-experience/
2017 has been a transformative year for customer experience, with artificial intelligence and digital assistants at the forefront of the transformation. With the emergence of new channels, organisations also spent much of 2017 grappling with how to handle and analyse the sheer volume of data they were able to collect on customers.
These emerging technologies will inevitably play a more integral part in how businesses deliver the customer experience. Other technologies such as VR and AR, as well as IoT, also have potential to affect customer experience. As we look towards 2018, we’ve put together some thoughts on what 2018 might bring for the customer experience.
https://www.itproportal.com/features/what-does-2018-hold-for-the-customer-experience/
It used to be that customer experience technology meant only CRM, or customer relationship management. The terms were almost interchangeable because the only technology used to connect with customers was basic data like names, emails, phone numbers, and addresses. However, there has been an explosion of customer technology that is changing the customer experience.
https://www.forbes.com/sites/blakemorgan/2018/05/05/what-is-customer-experience-technology/#138880182d03/
Somewhere along the road to excellent customer experience, we've made an unfortunate detour — one that arguably elevates technology at the expense of the needs of people. The evidence is all around us. This article takes a closer look.
https://customerthink.com/why-cant-we-get-customer-experience-right/
Why is customer experience such a hot topic and buzz phrase in the travel industry (and others)?
Answer: because in the age of the experience economy the quality of customer interactions at each stage of the path to purchase builds customer loyalty and advocacy. Both are closely aligned to profits.
The reality is, big data and technology have enabled brands to understand us better – often better than we understand ourselves (I sometimes joke that Google knows me better than my partner does).
https://www.hospitalitynet.org/opinion/4086016.html/
