Data can play a critical role in helping businesses reimagine customer experience (CX) and fulfil post-pandemic consumer expectations. Read this post to know more about the rising importance of data in CX and how it can be leveraged to upgrade digital offerings.
From being one of the tasks on the to-do list, customer experience (CX) has become a common topic of discussion in board rooms. As customers fully embraced their superpower of choice in the digital-first world of 2020, CX expectations heightened, with consumers even ditching their favourite brands for another, offering a more satisfying experience.
While CX expectations were constantly changing even before 2020, the pandemic has accelerated the evolution. It is no longer about great products and services or exceptional support but uniting processes, functions, and systems for creating memorable interactions.
How can businesses deliver improved CX and fulfil consumer expectations? A data-driven CX operation can be the answer.
Data and CX: The Dream Team
While data is relatively technical, customer experience is more emotion-based. But the merging of the physical and digital world, especially after 2020, has encouraged data and CX to join forces. The amalgamation of the two can help provide an improved experience to the customers, which they no longer expect but demand from businesses or digital services they engage with.
According to a Salesforce report, 90% of the global executives who use data analytics reported that it improved their ability to deliver a superior customer experience. The statistic demonstrates the rising need for businesses to focus on a data-driven CX strategy to boost their potential and effectively fulfil the expectations of modern consumers.
What is a Data-Driven CX Operation?
The traditional silo-based model is operated by functional departments, like marketing, commerce, and service. But modern consumers expect businesses to have a unified approach towards CX. Siloed activities fragment customer journeys and often fail to provide a clear view of the bigger picture regarding real-world improvements to CX.
A data-driven CX strategy is about taking a holistic view of the data collected across a customer’s journey to extract valuable insights for targeting customers and delivering personalized and compelling experiences.
For instance, in a country like India, with one of the fastest-growing Internet populations, data generation is at an all-time high. The data significantly impacts how people consume products and services. Collecting this data and extracting insights can be an effective way to improve CX and offer memorable experiences.
Steps to Building a Data-Driven CX Strategy
A data-driven approach can be divided into three steps- collection, analysis, and prediction.
In the first step, businesses can rely on their interactions and engagements with customers across channels for data collection. The interactions could be with a human support representative, AI chatbot, or company website. Ensure that data is collected from every step of the customer journey.
The collected data can be analyzed at various touchpoints throughout the customer journey. For instance, a customer might be thoroughly satisfied with your AI chatbot but not very impressed with the wait time while trying to get in touch with a support representative. Visibility is crucial is it can help pinpoint the exact source of problems.
Based on the customers’ current experience across touchpoints in their journeys, enterprises can try to predict future trends, activities, and demands. Latest AI tools can better understand vast amounts of unstructured data in the least amount of time and extract useful information to improve decision-making.
Leverage Data to Upgrade Customer Experience
It is expected that CX will overtake product and price to become the key brand differentiator in the near future. As the impact of experience is only predicted to rise, this could be an excellent opportunity for businesses to reimagine their digital offerings to meet consumer expectations better.
Enterprises can trust the expertise of digital business services consultants for building a data-driven CX strategy that uses the latest AI technologies to deliver lasting results. Experienced digital service professionals can accelerate digital transformation and help you create a brand aligned with the needs and expectations of modern consumers.