Adobe and Econsultancy recently revealed that customer experience (CX) is the most exciting business opportunity for 2020, with leading businesses across various sectors rating CX as a top digital priority, which if executed properly, will set them apart from the mainstream.
By Steve Briggs, chief commercial officer at Seacom
Arguably, the very premise of why we are all in business today is to profitably meet our customers’ needs. Companies can’t exist without their customers, and in turn, customers rely on businesses to deliver valuable experiences.
As things change rapidly, and customers become more digitally connected and empowered, their expectations have increased drastically – they have come to expect only the very best from every interaction they have with a business. This, coupled with competitor pressure, has forced organisations to raise their game to better serve their customers.
It’s never been more important to redefine your CX strategy and explore new, innovative ways to stay relevant to your customers. Delivering unforgettable, personalised and data-driven experiences is the best way to do this – let’s look at what this means for your business.
It starts with data
A great CX strategy boils down to how intelligently you use customer data, personalise these insights and then build a response that is appropriate to your customers and their unique needs.
Thanks to major advancements in AI and big data, businesses are getting better at understanding their customers and can easily customise their content to target specific customers. With the right data, you can tweak your CX approach to get the best outcome – whether that’s increased sales or improved customer satisfaction.
Perhaps the most important determining factor which will assist with curating products, services and content that will resonate with your customers, is data – behavioural, transactional, financial, operational. Getting this right drives better, more informed business decisions.
Combining all this data into useful customer personas and using AI to act on these insights is a sure-fire way to connect with your customers and build better customer journeys.
Customer consideration is key
While it may seem obvious, placing your customers’ needs and experiences at the core of your business offers another competitive advantage. Having a customer-centric mindset is linked to higher retention rates and increased revenue growth. But beyond that, thinking of your customers at every level of the value chain builds lasting loyalty.
Emotion plays an important role here – empathising with your customers and creating an emotional connection with them means they’ll be more likely to remain loyal to your business, continue using your services and recommend them to others.
Additionally, providing your customers with the opportunity to give feedback and encouraging them to do so shows that your company cares. This kind of thoughtfulness and integrity reflects well in a highly competitive landscape where everyone is vying for customer attention.
Dedicated to growth
An area that requires constant revisiting and nurturing, your CX strategy is a full-time business commitment. As customers’ needs evolve and their expectations follow suit, companies need to be forward-thinking in their CX approach, pre-empting new needs and demands, and adjusting accordingly.
Equally as important is maintaining the integrity and rigour of your business’s core product/service through investment and innovation. For Seacom, this is our network.
Recent events have forced customer experience into the spotlight, urging businesses in all industries to question their relevance to customers and how quickly they can adapt to change.
Prioritising and reinventing the way customers experience and interact with your company ensures you won’t get left behind in a world where customers hold more power than ever before.