CIOs and Technology | Top Customer Experience(CX) Trends for CIO's to consider for escalating Customer Satisfaction

CIOs and Technology | Top Customer Experience(CX) Trends for CIO's to consider for escalating Customer Satisfaction

CX strategies like Virtual Assistants, Omnichannel, Use Customer Behavior Data, Internet Of Things

91% CIOs believe that the strategies use in handling and managing data, makes a huge difference to attract customer to drive more sales and products.

CIO's are finding ways out to identify which CX technologies are reducing the overall customer efforts. Above are the most highlighted emerging technologies that will have the biggest impact on CX projects in the next three years.

Virtual Assistants:

Chatbots are innumerably gaining popularity among companies to establish the Customer Experience(CX) strategies improving and solving the customer queries, by introducing chatbots. Businesses are not dependable on time-consuming and highly-technical skills anymore, but they seek out an easy-to-use, code-less platform that empowers CX professionals-the ones who are experts in the business to build chatbots with hands-on knowledge and expertise.

Virtual assistants are growing in popularity to empower an intelligent, human-like dialogue between customers & brands.

Nuance is an American software technology corporation that delivers solutions that understand, analyze, and respond to human language, amplifying human intelligence. Nuance permits organizations to create advanced conversational experiences for virtual assistants using the same market‑leading tools that Nuance uses for design, speech, natural language, dialog, and test.

Nuance Ranked No. 1 in Virtual Assistants for Best Customer Service by Global Research and Advisory Firm.

Nuance Nina chatbot was introduced in 2012 and was one of the first virtual assistants for customer service, and has evolved from years to become a "Design once, Deploy many", customer experience(CX) platform that supports different channels across Web, Mobile, IVR, Messaging, for example, Facebook Messenger and SMS, and IoT channels such as the Amazon Echo via Alexa.

The most important feature of Chatbot Nina was to truly meet a need for customer service, chatbots must be able to understand what a customer speaks or types, discern their context, and then respond & act in a conversational manner.

It was divided into distinct categories like reporting & analytics, multichannel, security & authentication, natural language understanding (NLU), roadmap, vision, and revenue.

In a single platform, Nuance is the only vendor to integrate the analytics, tooling, & intelligence of natural language processing (NLP) and cognitive technologies, as well as integrated security, to deliver automated and assisted solutions targeted to business requirements.

Omnichannel:

Customers may start by looking for a product online and bumping it into your website or ad. Next things, they will contact you by email or phone, to which you respond through the same channel, and then they may head back to your website to buy online, or they may directly come to your store to purchase. This is called “multichannel marketing” approach.

Omnichannel is a cross-channel strategy focused on giving customers coherent and consistent experiences to empower customer engagement with the business. It integrates the different channels accessed by different media and locations to support the continuous customer journey. In simple words, when any customer leaves a channel, be it online or offline, and move to another, the experience continues as if nothing has changed.

For instance, if you are scrolling your Instagram feed, you see an interesting ad to go forward for purchase, you click an ad and directed towards the official website from which you can check the characteristics, the price, and decide to order the phone to be picked up at the physical store.

Customers may start looking at the product online from various media, it can be the social media post or any third-party website ad. Then they contact you by email or phone, to which you respond through the same channel, and then they may head back to your website to buy online, or buy in-person.

Use Customer Behavior Data :

When we think about the streaming media like Netflix or Amazon customer experience, the first thing which tick is their "Personal Recommendation", their advanced recommendation engine algorithms are developed to serve customers personalized content and product suggestions based upon each customer’s past behavior.

For instance,

  • The 75% of Netflix activity is driven by recommendation
  • The 35% of Amazon sales are generated by recommendation
  • Netflix’s recommendation system saves the company an estimated $1Billion per year through reduced churn

By researching the customer behavior data, marketers can identify which customer journeys result in a purchase and leverage this information into campaigns that surge new customer acquisition.

For an example of a bank, the key role of leading banks is to improve the credit card opening rates amongst Millennials. To identify which channels are best suited for their sales, the bank analyzed customer behavior. After integrating the data from different media such as branch visits, website browsing, mobile data, email data, and in-app interactions, it was concluded that email marketing was leading the way. Based on this information, they created a new email campaign for those who had viewed the credit card offer and then abandoned their journey.

Internet Of Things:

IoT is a network of devices, which is not a "traditional internet-Connected ones"(Laptops pr Mobile) but enables to connect of different home appliances to the internet as well. IoT is proliferating extensively and expected to 125 billion devices could be connected by 2030 through IoT.

IoT is not only the connected devices but also the connected processes and assets participate in business processes which reduce the manual work, increasing overall business efficiency and intelligent decision making that will eventually help improve customer experience.

For instance, vehicles with GPS tracking that connect with monitoring and control systems to enable smart logistics or machines with a programmable logic controller (PLC) connected with asset performance management systems.

IoT provides real-time information:

One of the elevating companies is using real-time data to provide an IoT-based predictive maintenance solution to their customers. They gather real-time data from sensors and use the information to anticipate maintenance and repair needs even before a breakdown occurs.

Share personalized communication by IoT:

Product sensors can share data about use patterns, and based on this data, businesses can find out the interests of their customers. They will be able to identify similar or complementary products and services, improving the customer experience.