Put Customer Experience (CX) at the Center of Your Growth Plan
CX technology is any type of tool, new or existing, that can be used to shape a customer’s experience. While the focus is on each individual customer, all CX initiatives are based on data. CX technology is usually centered around the software of programs that can help you gather, analyze, and integrate customer feedback data so you can improve the way you interact with customers, and how customers interact with you. The best CX tech relies on finding and using as much information as possible in the smartest and most effective way.
The two faces of CX
CX is the experience a customer has at all stages of their journey, including communication. CX Technology refers to the tools and software that make doing business with you more enjoyable.
ORGANIZATIONS ARE EMBRACING CX
- $641 Billion spent on CX technology globally
- 89% of businesses in 2022 primarily competing on experience
- 87% of business leaders tag CX as their top growth engine
- 56% of B2C companies have a dedicated CX team
The Importance of CX
CX is a big business in the US and growing every year. One of the most effective ways organizations succeed today is to ensure that the community interacting with your brand has a positive interaction every step of the way! People are five times more likely to purchase from you again if they had a good experience the first time. The same story holds for employees, when they’re given the tools to create happy customers, it makes their job easier and more enjoyable – another factor in retaining your best staff.
CX Technology That Puts You One Step Ahead of the Competition
The specific CX Technology you choose will depend a lot on your customers, your industry, the product you offer, your business model, your network, and countless other variables. We can help you find your way. Tools that are currently helping companies make strides in the CX to retain and attract more customers include:
- Augmented Reality – AR gives your customers a chance to virtually try out your products, gauge size requirements, get product tutorials, etc.
- Artificial Intelligence/Machine Learning(AI/ML) – Machine Learning is being adopted as a keystone for many technologies. It requires the creation of hundreds and thousands of scenarios, responses and sequences. The better the data set, the better it will be at contributing to the CX goals you establish. Machine Learning is also an important component for the success of chatbots and voice recognition.
- Chatbots – Customer service representatives are a valuable resource and a large cost center. Chatbots can function as front-line support answering common questions around the clock, freeing up your human reps for more complicated concerns. In essence, letting you increase efficiency while reducing costs.
- Voice Recognition – Speech-to-text integration and voice command technology can empower your customer service reps, and save the customer time. Initial prompts can help direct the “caller” to the right person. AI presence monitoring a call/chat to provide real-time information and response scripting for your customer service representative, sometimes even with sentiment analysis.
- Internet of Things (IoT) Deployments – These inexpensive data point gatherers can serve many purpose. Examples include tracking movement patterns in a retail environment and motion sensors for point-of-sale advertisements, empowering businesses to learn more about the audience or serve up the perfect interaction at just the right time.
- Marketing/E-Commerce Integration – With every touch you learn more about your customer. How to communicate with them, and what they’re thinking about. This gives you the opportunity to create more personalized experiences, alter your offering, and encourage them to perform the behavior you want, like buy a product or open a savings account.
- Customer Portals – With a gated portal, your customers can benefit from real-time, 24/7 access to account information, data, shared files like videos, tutorials or even FAQ’s.
Achieving Good CX
Good CX places customers at the center of all efforts to anticipate and meet their needs, using all the resources available to create interactions that satisfy, excite and exceed their expectations.
