With the advent of globalization and the World Wide Web offering infinite options, control has now shifted from organizations to customers. This shift makes it almost impossible for companies to sustain differentiation based only on value or product. This is where CX comes into play.
According to a report by PwC, 43% of all customers are willing to pay more for greater convenience. Moreover, 42% are ready to spend more for a friendly and welcoming experience. The report also shows that 65% of American customers find a positive experience with a brand to be more powerful than great advertising.
It may not be easy to see the value of customer experience as it is to see the ROI of other investments. But, customer experience is incredibly valuable. Without a customer focus, businesses simply won’t be able to survive.
There are too many options available in the market for the customer to choose from. Therefore, customer experience is the only way for businesses to stand out from their competitors. As per research done by Forrester, companies that lead in customer experience outperformed laggards by around 80%.
CX Strategy is a Necessity
With the rising digital experiences and customer’s shifting expectations, organizations must have a CX strategy in place. Every business will have its own strategy that may differ based on its products and services. Technology should not just be viewed as a tool with a list of features, it should act as a partner that enables enterprises to enhance their overall CX strategies. When viewed from this perspective, businesses will be able to bring in their individuality and personality to the experiences they have created on digital platforms.
Leveraging Automation to Amplify Experience
Personalized experiences are not the result of automating everything but businesses selecting what to automate and what not to. Customers are more accustomed to a seamless blend of human and digital communication. This could be because businesses leverage automation to enhance the experiences they already provide instead of redesigning an entirely new digital experience from scratch.
It is critical for businesses to understand how to use automation in order to help customers and the customer-facing business teams. If businesses focus on what their customers value, they can leverage automation to provide valued human engagement. This can change the expectations of the digital customer experience.
Businesses cannot expect to erect a chatbot as a barrier between them and their customers and expect their customers to be satisfied with the experience. Personalized customer experience shouldn’t be replaced by automation, but supported by it, to deliver enhanced CX.
Sustainability in Marketing Investment
CX coupled with authentic customer advocacy helps businesses be in a better position as these things can’t be just bought by competitors. Business leaders say that companies experience longer sustainability by growing through CX and advocacy than spending money on paid acquisition for expedited results.
Refocusing on Consumer Value
Spending in CX as an engine of growth helps businesses refocus on customer value. But, if companies choose automation, they need not quantify everything.
By automating the mechanisms, organizations have more time and space to focus on qualitative insights. Insights from customer service are a critical element in shaping business strategies and meeting the needs of the customers.
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