Uncovering New Possibilities for an Improved Customer Experience
Descriptive, predictive, and prescriptive analytics are driving better customer experience design and delivery. Descriptive analytics helps to structure historical data and yield insights from the structured data. Predictive analytics uses models to forecast what could happen while Prescriptive analytics optimises and simulates on possible outcomes to reveal future possibilities. They are interlinked, complimentary and combine to form a holistic picture that can provide enhanced insights for a more optimum experience. However, it is only when the data and outcomes are interpreted and strategized with the human intervention of a set of minds, that the best experience can be delivered. Customer experiences are also being consistently optimized across all digital touch points by digital experience management platforms that are replacing content management platforms. Content management platforms enable multiple users to create, edit and manage digital content in a collaborative environment. Digital experience platforms, however, amplify the CMP’s capabilities and give marketers the control to create, manage and publish digital content in our cross-device world so as to deliver consistent, uniform, responsive and personalised customer brand experiences. The end customer experience will depend on how meaningfully the platform is built to touch the customer.
Mobile is becoming the primary channel for customer engagement as it is always within the direct reach of on-the-go customers. In India, it’s even more relevant, considering its current growth potential as well as its far-reaching penetration among new users. Delivering consistent, personalised experiences allows a brand to create relevant engagement and also become more responsive. Being close to the customer gives the brand a definitive advantage in today’s competitive landscape and digital experience platforms which operate across devices enable the consistency of this experience. Moreover, Voice-of-the-customer (VoC) programs are very important for obtaining customer feedback and understanding customer expectations. However, for the program to be more robust, this information has to be analysed to draw insights from it, following which a further course of action can be initiated.
Innovation-Driven CX Management
Internet of Things is also embedded with huge opportunities for customer experience and CX management becomes a necessity in this environment. As per Gartner’s research findings, nearly 6.4 billion connected devices are in use globally and this number is forecasted to reach 25 billion by 2020. Therefore, as IoT grows, Customer experience services and platforms will initially see outstanding results and advertising ROI. Customer experience management will become an essential service for not only CX companies and platforms but also for agencies and Indian entrepreneurs. However, IoT is inherently complicated and as the ecosystem matures, customer experience management will become far more challenging for creating consistent and cross-device experiences. Infrastructure will also be a big enabler. Customer experience systems, marketers and agencies will have to keep learning and evolving to maximise the CX possibilities that IoT throws up.
Technologies such as Machine Learning and Artificial Intelligence driven Chatbots are bringing more possibilities to personalize and customize interactions. In theory, these possibilities are fascinating. However, in practice, we are still at a very nascent stage when it comes to chatbots. The systems themselves are developing, especially with respect to AI. Chatbots have become incident in industries like banking, telecom, beauty, apparel, food, ecommerce, hospitality and other services. When it comes to the areas of servicing the customer for information, feedback, transacting and recommending - chatbots with their chatting and personal concierge ability prove immensely useful while also allowing data capture which enhances learning. For example, Yes Bank’s Yes Tag which is available on Facebook Messenger, Twitter, Skype, Telegram and WeChat offers conversational banking which allows one to check their balance and make transactions, transfer funds, order a check book and also make enquiries. Furthermore, Meru Messenger Bot has the capability to handle cab booking requests on Messenger. Pizza Hut’s and McDonalds’ chatbots have also caused a stir abroad and India is now reviewing implementation.
The quality of the experience is primarily dependent on the program. Thus, CX is challenging if one expects to see a complete shift to human-like interaction. Yet, the potential with Chatbots is immense and it’s around the horizon.Chatbots will evolve in quality and capability, also expanding in industry use and will grow to become a major trend in India. Blended with cross-channel, cross-device and interactive CRM, marketers will be armed with the capabilities to cater to their customer at micro, macro and personal levels.