Traditionally, organizations have been forced to adapt their applications and operating processes to public cloud models in order to recognize the full benefits. This led to mixed results as legacy applications struggle to align fully to cloud models, particularly when using lift-and-shift migration methodologies.
The ability to provide a frictionless digital customer experience is emerging as a critical factor in attracting and keeping customers. It is fast becoming the way for financial service providers, fintechs and banks alike, to differentiate themselves from their competitors.
It’s no secret that creating amazing customer experiences is a key component of all brands’ marketing strategies. If that’s not the case, then quite frankly you’re missing a trick. In 2021, where the majority of a customer’s interaction with a brand is online, customer experience (CX) becomes even more important.
If businesses want guests to return, the experience has to meet their expectations. This is why “guest experience” is so important. Businesses can do this by optimizing every interaction throughout the guest’s journey; this begins by understanding their needs and how best to meet those expectations.
More customers are prioritizing experiences above all else when picking between brands. As a result, closing the customer experience gap – the difference between what customers expect from their experiences, and how well a brand believes they are meeting these expectations – only becomes more critical. After all, studies continually show how delivering top-notch marketing, care, and commerce experiences at all touchpoints, while always putting customers’ needs first, can significantly impact your bottom line.
Developing customer-centricity requires many companies to rethink how they approach their business: Rather than seeing service flow as a straight line from their business to their customers, service delivery must be at the core. Every department and individual needs to understand their role in the CX — no matter their distance from the end-user. Ensure everything, from business modeling to revenue growth strategy, centers on the customer.
How good is your CX? If you’re like many organizations, you may not truly know. You certainly think CX is a priority. You’ve invested in redesigning or upgrading your CX. But do you actually know how your customers feel about the CX you deliver? It’s no wonder so many of us don’t know how we’re doing—96% of customers won’t tell organizations if they’ve had a bad experience.
The value of customer experience (CX) design and management has been well-established. And CX maturity models have been used for several years to guide, measure, and improve companies’ performance on CX. Now that businesses are waking up to EX as an equally valuable organizational competence, an EX Maturity Model is needed.
In today’s post-COVID world, customer loyalty is more open than ever before. The pandemic caused consumers everywhere to try new brands, experiment with new modes and channels for shopping, and adopt new products and solutions that they might not have considered before. Both consumers and B2B buyers have been forced by circumstances to break out of their old shopping habits, and they haven’t yet fully settled into new ones.
Artificial intelligence is proving to be most valuable when it is applied to rote, predictable functions. At first blush, this may not sound like an ideal fit for customer relations management (CRM), but keeping customers happy requires a lot of tedious work.