Tapping into customer experience at the right time with right offer can open new avenues for organizations to enrich customer delight. Imagine getting a personalized apparel offer basis your interest on smart phone while you are walking past the very store and then AR glass showcasing the desired information once the customer is in the store. This goes a step further with TryFit kiosk to scan the barcodes of chosen apparel along with sizing it to as per customer’s fit and interest. When all this is done with little to no friction, payment is as simple as walking out of the store while customer’s default payment mode takes care of the purchase. The time taken from the customer walk-in to walk-out would have been close to 20 mins with a higher conversion rate – Thanks to the personalized experience and data-driven messaging.
CX as a competitive edge for businesses
The store knows well about customer from his past shopping experiences which enabled them to reimagine the customer journey and provide a personalized offer that eventually increases the chances for customer to buy from the store. This is a classic example of reimagined customer experiences where the store funneled customer’s past interaction into insights that made the experience easy.
The Roadblock: Disparity in Technology change and organizational change
While the criteria of the customer experience may differ from time to time as the digital era is constantly evolving, the fact that customer experience takes precedence over everything else has not changed and will not change in the near future too. For the next few decades, millennials and Generation Z will push the boundaries for customer experience.
Scott Brinker introduced to martec’s law in his marketing blog few years back which states that the technology changes in exponential rate (very fast) and organizations change at a logarithmic rate (very slow). This law holds good even in most of the cases today.
Organizations should make sure they are wired for this change and are agile enough to adapt to the change.
Where should the focus be?
So, let us take a glance into the top 5 trends that you have to look into and adopt over the next few years to reimagine the customer experience and channel their interaction to insights to provide them a frictionless experience
Trend #1: Beyond Marketing
The beyond marketing: Reimagined experience concept by Deloitte rightly points out that marketing technology is undergoing a paradigm shift by adopting new approaches to the 3D – data gathering, decisioning and delivery – for the brands to increase the knowledge about the individual customers to create a personalized, contextualized and end-to-end experience. The marketing process, till date, was just a customer acquisition activity. Not anymore. Beyond that marketing is experience-creation activity and a dynamic feedback loop that transforms interactions into insights.
Trend #2: Hyper Personalization like never before
Over the last few years, customers are now used to brands reaching out to them with personalized offerings and recommendations that are derived from the pervious interactions and purchases. So, it is imperative that, brands collect more data about the customers during the interactions with consent and leverage them to understand more about customer’s buying habits and pain points.
Trend #3: More brands to embrace AR and VR
AR technology can overlay the information about the product in real life setting and VR can provide the customers an immersive experience with the product. It would not definitely be an exaggeration when studies say more brands will start embracing either one or both of these technologies to improve customer interaction and draw advanced insights from them.
The mainstream adaption phase is definitely not far and we can sense that from the following examples – First example where to avoid going through the difficulties of finding perfect fit clothes, popular apparel The GAP brand has created a virtual dressing room application to try out a dress on the virtual mirror. Second example from the popular footwear brand in Nike family, converse, has created “Converse Sampler App” for real-time product experience
Fundamental but essential. Various researches have shown us that there is a strong correlation between the employee experience and customer experience. One such study indicates that, organization with highly engaged employees outperform their competitors by 147%
It is very important to empower your employee with required knowledge to help the customer and provide them with tangible reward for the positive outcomes they provide. This investment is key because the more you care for your employees, the higher they will care for your customers
Trend #5: Predictive analytics with added intelligence for competitive edge
It would be a thrilling experience for the customers to tell them about their likes and dislikes before hearing it from them, wouldn’t it be? Such truly personalized experience is possible with predictive analytics which will play a crucial role in optimizing the marketing campaigns and help brands in predicting the consumer reaction and responses. Predictive analytics also plays a key role in improving the supply chain operations by forecasting the inventory, seasonally, based on the past demand and supply to efficiently manage the available resources
Adopting these trends may require your organization to retrospect into the current setup and so few of them may even require some huge amount of investment, as well. But in the long run, these trends will help your organization to create the frictionless experiences for your customers that delights them and drives the customer loyalty graph to the peak.
Expert Business Consultant with over 6 years of experience in IT, Solution Designing , conceptualization and successful Implementation of Digital Solutions focused on Blockchain, Cloud, Enterprise Architecture, Chat bots and RPA for various clients from startups to Fortune 500 companies.