5 CX Trends that could make or break your business in 2021
Statistics don’t lie. With 54% of customers having higher expectations of customer service today compared to a year ago and 89% of businesses expected to compete mainly on customer experience, customer-centric business orientation has become more important than ever. More and more customer-facing operations have a seat at the board table, capturing more interest and investment than ever before. Of course there is the elephant in the room, the Covid-2019 pandemic, which has not only shaken up but transformed business across the globe permanently. The implications of both global movements, increasing customer expectations and the pandemic, has set precedential trends for the future years to come.
Here are the top five customer experience and service trends that are a must knows for business operators.
There are 2.5 quintillion bytes of data created every day. The implications of this are the division of markets between companies that can harness their data, and companies that cannot. But it is no longer enough to simply gather analytics on a single channel to measure or benchmark a customer's journeys. More effectively, with the rise of omnichannel engagement, an integrated approach should be taken.
Establishing a customer data platform as a unified source of information, is an effective way to gain valuable insights of customers' journeys across and between all channels, as well as their relationships with them. Through the adoption of a CDP, businesses will find their data more valuable.
Chatbots have come a long way since its infamous facebook messenger debut in 2016. With the release of new adaptive ML models, such as Google's BERT, chatbots are experiencing a revolution in design and capability. Chatbots are increasingly being employed as a first contact to customer queries, reducing friction to support and improving support efficiency on the back end.
To find the areas of most impact for Chatbots or VAC’s, operation leads should look to examine and analyze what areas of the customer journey fail to meet rising consumer expectations, with factual or statistical backing. Furthermore, it is beneficial to conduct a conceptualization session in collaboration with relevant stakeholders, including business partners and customers, to understand different stakeholder perspectives.
Customers are using several channels to interact with a company, ranging from, social media messengers to email and websites. The diversity of channels on a macro-level is paired with the consumers increasing expectations of seamless integration between them. Each channel comes with its own experience. As a result, an understanding of how to bridge customers' usage for each channel and their respective expectations is required to fully implement an effective omnichannel engagement strategy.
The Covid-19 pandemic has accelerated the pre-existing trend of internet usage growth, uniformly forcing consumers online across the globe. Expectations of personalization for customers have not only grown in omnichannel engagement but also in catering to localization. Although said more often than done, businesses will need to adapt to local culture and language for their diverse digital audience. Whilst cultural norms can be a grey area and hard to adapt to, implementing multilingual experience and service is a concrete method of personalizing engagement. With 56% of customers stating that the ability to obtain information in their own language is more important than price, more and more businesses will be looking to employ multilingual support to satisfy their digital customers.
As the pandemic has forced companies to cater to their remote users, significant investment in digital CX has been made, particularly within smartphone channels. The quality gap between different companies CXs has significantly diminished from pressure to digitalize. Coming out of 2020, the CX landscape will have a new playing field. Companies looking to go ahead of competition will need to start experimenting with unproven or untested technologies and concepts. Where before, being just behind the herd leader was enough for a competitive advantage, the level playing field will strengthen the need for innovation as companies try to find the best future method of improving CX.
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Do you know why you absolutely need a multilingual chatbot? Find out here.