When a company wants to improve the customer experience, it refers to creating a more positive perception in the minds of customers, both in the treatment they receive from the company and the existing relationship, as well as in the sensations they have through their interactions with the organization. Therefore, it must be considered that each point of contact between the company and the customer is decisive. This, the management of interactions is essential to offer the customer an excellent experience.
To improve customer experience, companies should focus their attention on these four emerging trends: empowered customers, new technology, increased regulation and data explosion.
The Empowered Customer and the Customer Experience
For some time now, companies have ceased to control their messages due to a change in consumer behavior. As a consequence, company-customer dynamics have also changed. Those responsible for the transformation in behavior have been from mobile and social networks to the Internet and connectivity itself. Customers have moved from turning to the organization or the trade for information to informing themselves, by consulting different pages or websites or following the recommendations of other users.
This change has resulted in a need for organizations to focus on the consumer first. It is no longer the companies that decide what they want to broadcast, show or share, but rather the customers who determine the content they receive. For that reason, they should offer an omnichannel experience, immediate and personalized that suits the needs, desires and preferences of each customer on an individual basis.
New Technology – Customer Experience and Communication
The rate of product or service innovation is doubling rapidly, especially in the field of communications. Recent advances in communications technology have become an integral part of everyday life, such as voice-activated technology, portable devices or the cloud. The latter has experienced a major shift in popular opinion. Previously, it was feared as an information security risk; however, it has now become one of the most common work resources among companies.
Concerning technology, it is necessary to be updated and aware of any advance or innovation in order to adapt the company’s products and services to these new changes in the market.
There are products and solutions from Customer Communications Management (CCM)software providers which allow enterprises to cope with this fast-changing technological environment and take advantage of the latest trends in communication with customers in a simple and intuitive way, without having to worry about the underlying document software technology.
Increased regulation
Any type of industry is required to comply with a large number of rules related to communication with its customers or potential customers. That is why it is not that simple to offer an excellent experience to the customer immediately in a highly regulated sector. One of the main reasons is the digital arrival. For instance, in the UK energy industry, digital bills must look the same as printed bills. Another case is the need for all communications to be accessible to everyone, including those with disabilities.
One of the factors complicating compliance with communication standards is the fact that many companies are still using legacy systems that are outdated and difficult to upgrade. As a result, many companies are at risk of non-compliance since they do not have the ability to modify these systems to adapt to the new changes.
The multiple rules that an organization has to comply with can be stressful, but the penalty for non-compliance will always be worse. In Europe, fines can reach up to eight digits. So, if you don’t respect the regulations, you’re out of business.
Data Explosion
Data is the most important element in improving the customer experience, by using the data we have on our customers’ interests to create personalized and relevant customer experiences. The richer the data, the better the experience that can be created.
Within the data area, most companies have not yet taken advantage of unstructured data, i.e., data such as video, voice or user-generated content. Companies do not usually take this type of data into account and this is a mistake. Unstructured data grows at almost twice the rate and is approximately four times larger than structured data.
Some of the organizations that have focused on this data are using data enrichment to extract unstructured data. Through this process, an existing data point is supplemented with data from another source. In this way, companies can improve their view of each customer, as well as offer their customers a much more personalized and relevant experience, and implement smarter business decisions.