Despite having more data and insights into consumer desires and preferences, companies in the U.S. still face rising churn or switching rates among their customers. According to recent research released by Accenture, there is a potential $1.3 trillion of revenue at play in the market as a result. In addition, against the high percentage of customers reporting they had switched providers in the last year, 81 percent said that the company could have done something differently to prevent them from switching.
One of the key findings of the report is that digital channels play a key role in the switching economy. In fact, 48 percent of U.S. customers use third-party online sources, such as official review sites, and one-quarter (25 percent) use customer reviews and comments from social media sites, to find out information about a company’s products and services. Moreover, 75 percent of respondents now use one or more online channels when researching companies’ products and services and 33 percent use mobile devices to access these online channels.
Valued Customer Experiences Exhibit 5 High Impact Capabilities
The Accenture report found that companies that delivered valued customer experiences exhibited five common high impact capabilities, which include:
1. Hyper-relevance – Learn from every interaction and apply it at a more personal level
2. Relationships at Scale – Digital gives rich channels for companies to engage with customers in much more personal ways
3. Seamless Experience – Integrate information that enables customers to flow easily across different channels
4. Inherently Mobile – Invest in mobile services, support capabilities that stand out to customers
5. Naturally Social – Harness social media in order to deliver customer preferences and greater levels of trust
How to Make a High Impact with a Customer Experience (CX) Platform
Hyper-relevance – Your CX platform must have the ability to manage consistent cross-channel customer experiences along the customer journey and support customer engagement across all communication channels. In particular, the platform should enable a cross-channel journey through customer context preservation that tracks the customer’s identity, products and actions for each interaction and applies business rules ensuring a consistent experience, regardless of the channel by which the customer chooses to communicate.
Relationships at Scale – Your CX platform should ensure that the experience you deliver aligns with the expectations of your customer and is journey appropriate. By more effectively matching the workload and the required staffing levels for each customer journey, you should be able to deliver consistent service levels over all touchpoints, channels and interactions throughout your front and back office.
Seamless Experience – Most contact center solutions can’t help business make routing decisions for multi-channel interactions or work items. This means customers don’t get connected to the right employees and transfers and long hold times ensue, causing broken customer experiences and demotivated employees. Your CX platform should be able to query existing information systems and legacy applications in real time to use complete customer context. Data such as customer profile, order history, cross-channel usage, case status, customer satisfaction and many other behavioral attributes can be leveraged for more successful outcomes.
Inherently Mobile – Your platform should support personalized service and conversations through mobile applications so that your customers can connect with you anytime, regardless of context or location. In doing so, you will be able to provide escalations to the right resources – to and from mobile apps – and involve other channels such as voice, web, and social media.
Naturally Social – Social becomes a cornerstone of your customer experience strategy. Your CX platform should allow you to extend business rules and service level strategies to the growing volume of social media-based customer interactions as part of a unified multichannel routing capability. As a consequence, your business will improve customer experience and optimally automate responses, routing and fulfillment.
To learn more about the Genesys and how to keep you customers coming back, check out our white paper Transforming Customer Experience in the New Digital World. You also look at the Genesys Customer Experience Platform.
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