By Mark de Groot, Digital CX Evangelist at Oracle
Meeting and exceeding customer expectations is a critical factor in improving the customer experience. Those high expectations are increasingly driven by the usage of technology across every industry, leading to a greater possibility of disappointment. In my opinion, most business leaders fail to understand just how high expectations have risen. This is a big risk because the next step for customers is to share those disappointments via bad reviews. Bad online reviews and word of mouth damages brands, lowers customer engagement and results in lost customers.
Let’s look closer at the link between the rise of digital technologies and customer churn. The drive for digital innovation across all industries is unstoppable while the consumer demand for these services grows by the day. The fast adoption of smartphones and other mobile devices has led to increased personalization for customers. What’s more, this technology promotes instantaneous results, meaning that customers expect more, faster. One might think these higher expectations especially come from a younger, more tech-savvy generation... but is that really the case?
The answer is an emphatic “no!” In our research Next Generation Customer Experience: The Death of the Digital Divide while we found that a significant number of customers aren't impressed with the digital experiences that brands offer, we also found a significant closing gap between Millennials and Baby Boomers. Millennials for example, are more likely to be heavy Internet users, but nearly half of them told us “regardless of developments in technology, I would always choose to speak to a human.” Contrast that with older customers, two-thirds of whom prefer to be in touch with another person when they need help - but 65% of those same older customers would be happy using technology rather than interact with a human when getting a quote for a new product.
Crucially, businesses need to consider the impact that adopting (or neglecting) digital can have on the wider customer experience, while ensuring they don’t disregard the highly valued human interaction, no matter what target group.
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