Customers have gradually high expectations of the brands with which they share their data. Today the way companies collect and use data, and the way their customers share it, is changing. For years companies have been striving to create customer loyalty programs that stick. Companies must move away from just collecting customer data, to using it in a way that provides more value or a better experience for their customers. Why companies want certain types of customer data and what the benefits for the customer will be?
The B2C world is frantically searching for the answer to the industry's key question: "How to exceed ever-heightening customer expectations?" Customers' growing appetites are now taking a toll on every enterprise regardless of its business model, spilling from retail (where these expectations are typically set) to banking, healthcare, telecommunications, and more. To solve the challenge, companies cultivate customer experience as their last competitive differentiator. Customer experience won't help, though, if it's mostly regarded as coping with the aftermaths of bad service or retrospective learning from mistakes. If you want to reap visible results in the form of customer retention, loyalty, and, ultimately, sales, customer experience has to be replaced with customer care as its proactive, more human-like version.
Every industry – from banking, utilities and telecommunications to retail and transport – is becoming increasingly commoditised. Price and product offerings are becoming increasingly similar, making it hard to tell one company from another. Today, the omnichannel experience is the only tangible means for customers to differentiate between companies, and is therefore critical to business success. From mobile apps, chatbots, click-to-call solutions, online forums and social media, there has been an explosion of different channels that customers can use to get in touch with a business. See also: AI's impact on customer experience However, most of these channels are in silo, and do not share information with one another.