In today’s world customer experience plays a very vital role in survival of brand, a good customer experience creates a loyal customer base and an Effective brand image and according to the Gartner survey CX is now a new battlefield for the companies to sustain in the market.
- 89% of companies consider customer experience to be the new competitive battlefield. – Gartner
Customer experience is an end-to-end journey of customer with product or any services offer by the company what the customer is experiencing throughout the lifecycle from initial pre-purchase to the end post-purchase and this experience insures whether the customer is satisfied or not.
To deliver enhanced customer experience we need to manage customer interactions through each physical and digital touchpoint to deliver personalized, customer-centric experiences that drive brand loyalty and increase revenue, now the CX is turning to its new heights by continues change in customer expectation. now it is not only straight line with delivering good experience but also the more personalized and customized customer experience.
Radical behavior of CX towards Personalization.
Brands are using this customer-centric solution approach as there USP, or you can also say that now personalization has power to become brand differentiator. It is used to develop products and services accordingly, every interaction with the customer can also be personalized to make them feel valued and special by meeting their unique and individual requirement. Right From the first interaction with the customer at any platform to deliver solution and new offer by understanding customer pain point and matching their requirement and interest.
As in Accenture report 2017, 33% of the customer due to lack of personalization in the brand offerings has ended their relation. Which is huge drop in customer retention.
if we look at the market Stats, we will find that personalization is becoming necessity for reaching brands on top.
- According to the SlideShare we can clearly see that 80% of consumers are more likely to buy from a company that provides a tailored experience- SlideShare
- 72% of consumers states that they now only engage with marketing messages that are personalized and tailored to their interests. – SmarterHQ
- Almost 90% of online businesses already invest in personalization – Forrester
These statements are showing new trend in market and change is customer buying habits, personalization is today’s top priority for the companies. Brands are more eager to take stab into this and get benefits as early mover advantage as in new era of delivering great customer experience.
Architect the super personalized experience for customers with ISI
To showcase your service stand-out from your competitors we need to take a customer-centric approach where we are more focused towards the consumer behavior. According to Zendesk’s Customer Experience Trends Report 2021, customer service must be more potential, fast, and friendly — now the services should be more relevant and responsive towards the customers’ unique preferences. on the road map of achieving this companies are offering Omnichannel support and multi-channel that helps brands to establish customer engagement via their channels of choice.
By Doing deep research and every step analysis you will get to know your customer in more depth like what they like and what behaviors make them unique from others. Identification of there buying and liking the product will help to customize the offerings.
Collecting regular and Continuous updates on customer behaviors by conduction customer survey, feedback, opinion analysis and track of customers online post about the brand and your services, competitors research, new news pop-ups, and complete analysis of customer reviews on every spectrum, With the ID verification practice will state the data for every single customer.
Practice- Data Analytics
Segmentation and personalization both are complementary to each other, after accumulating the data you will find like many customers have similar habits and patterns in there buying behavior which make them homogeneous customers and companies can segment them in categorized group to target right customers at the right time with right channel. By doing personalized segmentation brands can get fast and quick reach with the customers. Groups Like age, sex, location, religion, family size etc. These classification helps to understand the customer buying habit and their needs.
In the recent years we have seen a big shift towards digitalization due to covid, customer who love to do online shopping, or they buy from store are Offline Shoppers. Also introduced as new segment of customers.
Practice: Customer’s needs, wants, and expectations.
After clear understanding of what customer is looking for from your brand and from which segment that customer belongs. so now this is the right time to implement your marketing strategies and customized offering to the targeted customers. With this companies will craft a very great and memorable experiences.
In customer journey mapping leveraging omnichannel and covering all the touch points (email, chat, phone, or any other medium) will provide a seamless experience to the customers.
With people, process, and technology implementation brands can do 3600 transformation in their customer experience.
Practice- Customer journey mapping for every purchase
Personalization works as catalyst in delivering great customer experience
- According to 55% of marketers, the #1 benefit of personalization is better visitor engagement and customer experiences-sales force
- Personalization increases marketing spend efficiency by as much as 30% next few years by 2025 – McKinsey & Company
- 79% of companies that exceed revenue goals have a documented personalization strategy- Monetate
- Personalization reduces customer acquisition costs by as much as 50% – ADWEEK
- Personalization can reduce acquisition costs by as much as 50 percent, lift revenues by 5–15 percent and increase marketing spend efficiency by 10–30 percent. – McKinsey & Company
- Companies that use advanced personalization see returns of $20 per $1 spent- Liveclicker
From all the above statements we can clearly see how the customer-centric approach is benefitting the companies in many ways
- Reduce cost to serve
- Enhance customer experience
- Enhance revenue
- Enhance band image
Nikhil Pereira is Contact Center expert with 20 years of end-to-end contact center expertise. He has experience across the Contact Center spanning Hiring, Training, Quality, Workforce Management, Performance Management etc. Nikhil comes with deep expertise in Contact Center Transformation leverage Digital-First tools and technologies. Conducted multiple Contact Center consulting studies across the globe for some of the leading brands across North America, UK, Middle East and Australia. He is a certified “Design Thinker”, UiPath and Microsoft certified.