Customer Experience – 2020 and Beyond

The changing CX landscape

A lot has changed in the first half of 2020, from priorities of consumers to the way brands tackle marketing and communications through the unforeseen Covid-19 crisis. But even before the pandemic hit, Customer Experience (CX) was gaining a strong foothold in marketing budgets worldwide. Today’s consumers are digitally empowered and have no dearth of product options to choose from. Although brand loyalty still plays an important factor in choosing a product, consumers are well aware of different value propositions available in the market. But ‘value’ is much greater than just brands or products. The overall ownership experience is also a key factor in customer satisfaction and retention. To put it simply, great customer experience is just as important as the product itself.

Not very long ago, the key to winning customers was the quality of the product or service. However, things have changed a lot in the past decade. One of the most important factors of success in 2020 is CX. According to data compiled by Econsultancy and Adobe, B2B companies regard CX as the single most exciting opportunity in 2020.

CX graph

SaaS companies in particular can expect to increase revenues by $1 billion in the next three years by investing in customer experience. Good customer experience can drive the consumer to spend more, and according to a research by PwC, 86% consumers are willing to spend more for improved customer experiences.

What exactly is customer experience?

Imagine this scenario: Steve bought a DSLR camera from a major retail store. Having never used a DSLR before, there was a definite learning curve involved. The long list of switches and dials overwhelmed him. The camera included a thick instruction booklet which didn’t really make things easier for Steve, and he could almost never find the exact instructions that he was looking for. To make matters worse, there was a manufacturing defect in the camera lens which required him to produce the original invoice which he had unfortunately misplaced. Calling the 1800-toll-free number only put him in an endless queue with other customers.

In a scenario like this, the consumer can easily get frustrated. Things would have been much easier for Steve if he could just type in his queries and get instant responses, access instructional videos, his invoice and warranty details without having to worry about paperwork or long wait times. A solution like this would not only save the camera company precious time and resources, but would also put a smile on Steve’s face and earn his trust. This could also open up potential opportunities for the brand to cross-sell and up-sell to happy customers like Steve. After all, customers want to buy from a brand that treats them well.

Mobile experience is the key

A poor mobile experience can put a brand’s image in jeopardy. Mobile is no longer an add-on to the primary website or app, but in fact for many consumers THE primary communication channel. According to StatCounter, desktop usage is in decline and 52% of all internet traffic now comes through mobile. For a brand to be customer-centric, mobile experience should be top priority. If customers cannot find what they are looking for on your mobile site or app, they will get frustrated and you may eventually even lose them.

Mobile experience is not limited to websites and apps. Popular social and messaging channels like WhatsApp, Facebook and Alexa can also play a very important role in engaging with the customer. These are platforms that customers access multiple times in a day and if the brand can communicate with them through natural conversations, the level of engagement is much higher. Nhance Now specializes in creating such customer experiences that can significantly improve customer satisfaction and retention. Find out more here.

CX 2020 Inforgraphic

The millennial customer wants to self-service

Millennial customers do not want to wait for answers or spend days figuring out the user options in a product. They are digitally adept and want to put their time to efficient use. Being tech-savvy and quick to to familiarize themselves with new devices and interfaces, millennials prefer the do-it-yourself model of CX over waiting for someone to get back to them. Zendesk says that 67% of today’s customers prefer self-service options over speaking to an executive, and 91% would rather use an online knowledge base if it were available. Customers are now trying to find answers themselves and that is a great opportunity for brands to build on their self-service engagement platforms. It is estimated that by 2023, 40% of all customer interaction will be automated through AI and machine learning (Gartner). In order to remain relevant among the new-age millennial customers, brands must adopt smart technology and bolster their customer experience platforms as early as possible.

Get started on your AI-powered customer experience journey today. It’s quick, hassle-free and cost-effective. Visit http://www.nhancenow.com to learn all about tomorrow’s CX solutions.