The Next Decade in Customer Experience
As we enter a new decade, it’s no question that customer experience will be the key differentiator for customers when buying a product or service. In the past decade, and more exponentially in recent years, we have watched as customers are willing to pay more money for better experiences. In fact, now customers actually actively avoid brands who they have had bad customer experiences with.
Now you may be thinking that It seems obvious that customers will pay more for a better experience, but it wasn’t always the case. With the rise of technology, customers have become more accustomed to doing things quickly and effortlessly. That means that things like waiting in a line, or being transferred multiple times were a part of life, whereas now these things feel like a huge inconvenience. It’s up to businesses in this new decade to fully embrace this heightened expectation for customer experience. It’s no doubt that technologies, such as Conversational AI, will be used. But more important than what technology is being used, is how the technology is being used.
The Next Year in Customer Experience
Let’s narrow our scope to the next year. We know that this decade will see a big focus on customer experience, but how will the next year shape up? Our experts at Interactions have made their predictions below:
Consumers will push enterprises to meet them where they are
With the growth in instant access to companies, products and services, consumers can easily switch between brands and services. Nearly 3-in-4 consumers are likely to switch to a competitor after one bad experience, according to theNRG 2019 State of Customer Experience report. Customers opt for a channel of communication with a company based on time of day and where they are. If they can’t easily contact a company in their channel of choice and are therefore forced to search for a way to contact a company, they are already off to a negative experience. Companies need to know their customers and the channels that appeal to their audience. It is not about being available in ALL channels but in the channels that matter the most to their customers. Without this, customers will move on to another brand. Because companies that lead in customer experience outperform laggards by nearly 80%. (Qualtrics/Forrester)
-Valerie Bonaldo, Manager, Market Intelligence
The AI Marketplace will Mature
Right now, the growing interest in Conversational AI has led to a proliferation of tools and AI companies, as well as the democratization of access via open platforms for building your own. However, you get what you pay for; anyone can build a website with free tools, but the UX will be a poor one if the creator has no experience. As more enterprises gain experience with AI investments, they will discover that selecting experienced providers who can partner with them to create robust solutions is an investment that pays for itself. Providers with mature technology who embrace conversational best practices will create a superior CX that will set them apart from their competitors in the AI marketplace.
-Lisa Michaud, Senior Product Manager
Obsession over security and privacy of personal information
There is a fine line between personalization and privacy. Consumers understand that in order to get more personalization they must be willing to share personal information with brands. However, looking at the recent social and political trends, customers will be more cautious about the privacy and security of their data. They will demand answers to how and to what extent their data is being used. Brands can stay one step ahead by being open about their data storage and usage policies and being transparent with their customers.
-Priyanka Tiwari, Director of Product Marketing
Of course, the biggest challenge that most businesses face is where to start. Our Where to Begin eBook will guide you through the beginning stages to adapt to these new customer demands. Customer Experience is no longer revolutionary, but rather evolutionary. If businesses don’t meet customers where they are now with Digital Transformation, they will fall behind.