Customers have never had higher expectations. Competitors are upping their game when it comes to delivering customer experiences, using the latest technology to stand out from the crowd. Staying static isn’t an option—to keep pace, businesses need to transform.
Modern customers have more choice than ever before, and companies are jostling for attention. With more choice comes more power, and if your Customer Experience (CX) isn’t up to scratch, customers will choose a competitor without a backward glance.
Taking advantage of emerging technology
Delivering frictionless, automated and personalised CX isn’t something that’ll happen overnight. But with CX leaders growing 14% faster than laggards, the value of delivering an exceptional customer experience is becoming more and more obvious.
With the emergence of virtual reality, AI (Artificial Intelligence), IoT (Internet of Things), and other technologies, businesses have an increasingly large amount of options in their CX toolkits. IoT is proving particularly useful, providing real-time insights into customer interaction, trends, and product performance. IoT also enables businesses to see how customers use their products, allowing them to improve future interactions.
Hyper-personalisation is also a new major CX trend. By leveraging rich, data-driven insights, products, services and content can be highly personalised, creating a unique experience for each customer, and forging a much deeper connection than traditional CX.
Personalisation extends to chatbots, which can utilise customer and corporate data to deliver personalised answers to questions. Not only are chatbots more cost-effective than a human agent, but they are also able to anticipate queries, enabling them to answer faster.
Finally, there is a major switch in the type of customer journey businesses are mapping. In the past, offering an “omni-channel” experience has been the gold standard, and businesses would build their touch points acknowledging that a customer may switch channels at any time (for example, contacting a company via social media, then switching to email). This concept is now evolving to “organic channels”. Organic channel experiences combine multiple channels dynamically, enabling each to form an element in a unified whole. Rather than customers moving from channel to channel, organic channels are optimised to enable customers to combine channels simultaneously, so that they create their own unique experience.
There is a common thread running through each of these technologies: adaptive intelligence and machine learning. Using data to iteratively generate experiences means CX can be more flexible and relevant that it has ever been before, enabling it to evolve and meet the needs of today’s customers.
Five steps to CX transformation
The above technology may seem advanced, but with a solid, grounded strategy, there is no reason any company can’t implement modern CX architecture. Of course the needs of every company are different, but generally speaking there are five steps that should be considered:
Building individual experiences
Each customer is an individual, and for the first time technology is enabling businesses to treat them as such. By putting smart insights at the centre of your CX architecture, you’ll be creating truly unique, customer-centric experiences that can transform and evolve as the customer does. Ultimately, CX isn’t about pushing you ahead of the competition, but rather creating a tailored, frictionless environment that pulls you closer to your customers and creates loyalty.
Take a quick tour of Oracle CX Cloud to discover how to transform your CX and deliver a seamless, highly-rewarding brand experience.