What Will the Customer Experience Look Like in 2020?
Written by Toonimo
The communication between an organization and its customers is pivotal to the customer experience. This is not a once-off relationship; it is an ongoing series of interactions. Throughout the experience, both parties will gain an awareness of one another. There are many reasons why the customer experience (CX) is so important. For starters, a better understanding between a company and its patrons is fostered. This includes many unique interactions such as advocacy, awareness, service fulfilment, loyalty and the like. When it comes to CRM (Customer Relationship Management), there is no denying that a happy customer is a loyal customer. This translates into repeat sales, increased revenue and higher profits over lifetime of the relationship.
An effective customer experience strategy leads to improved customer satisfaction rates. With greater customer satisfaction comes higher revenues, increased retention and boosted profitability. All of this was validated by the Harvard Business Review. It comes as no surprise that customers appreciate good service so much that they are actually willing to pay for improved service. Extensive research was undertaken by American Express, and it concluded that 6/10 customers would happily pay for a better experience. This goes to the core of an organization’s contract with its customers: Service above self!
Out-of-the-box thinking needed to bond with customers
Growth-oriented strategies require a dynamic new approach. Many organizations in telecom, insurance and utilities find themselves in a stagnant state. It comes as no surprise that regulation and industry saturation have hamstrung many organizations. Instead of focusing on offense, companies are on the defensive trying to maintain market share rather than trying to expand. A bold new way of connecting with customers is needed. Luckily, sustainable growth can easily be generated and nurtured by creative thought processes. The best customer experience is one that engages the customer on multiple levels. With so much sameness out there, customers are looking for something different, exciting and enticing. The telecommunications company, insurance company or utility company that goes above and beyond will certainly win patrons over. By adopting a proactive approach to the customer experience, it is possible to grow market share and boost revenue growth.
What does customer service of the future look like?
Old school models of customer service don’t work anymore. Today, we have to engage on every level. Competition is fierce and customers have a zero tolerance for shoddy service. With that in mind, organisations realise that customer self-service remains an integral component of the overall experience. Companies that have cottoned onto this concept, such as Toonimo have adopted a set of tools designed to enhance the customer experience for organizations. This company has generated an effective self-service support mechanism with tailored walk-throughs and audio assistance. The multimedia angle engages users with little input on their part. Bounce rates diminish, engagement increases and higher revenues are generated. Nowadays, we know that it is a chore dealing with a support agent online. Many more people have a preference for superior self-service options. Studies reveal that 91% of customers prefer a dedicated knowledge base. Businesses are rapidly tuning in to the changing dynamics in the customer experience. Self-service is the way of the future, available today. Not only is it cost-effective, but it is a guaranteed revenue spinner for organizations.
Save time, money and resources with intelligent online customer support
Why wait days when solutions are available in minutes or hours? It’s impossible to keep up with an ever-expanding customer base if you don’t adopt self-service options. Besides for the cost savings benefits, online self-service is the most efficient one-on-one engagement possible. Forrester Research confirmed these findings with 72% of clients opting for self-service rather than email or telephone. Online self-service is the intelligent way of meeting the burgeoning demands of today’s discerning customer base. Organizations can dispense with increased budgets for customer support departments and focus those resources on maintaining high-quality, low-cost products and services for clientele. Without the customer self-service option, companies would be forced to continually expand their customer support operations. The costs of maintaining and training a talented pool of support personnel are exorbitant. This is ultimately passed on to the consumer in the form of higher prices. Online support deflects non-essential queries away from the core support personnel to the AI (artificial intelligence) systems which are capable of answering these questions effectively.