Project Summary: As individuals interact with technology and engage with firms via technology leaving a digital footprint and many data points, firms are in a position to paint a clearer picture of customers and customer segments. Big Data enables informed decision making and the ability to predict future customer behaviour. The application of Artificial Intelligence to business problems remains in its infancy, yet the potential to utilise algorithms and potential machine learning to better understand customers remains a fruitful opportunity. Not only does artificial intelligence have the potential to inform customer behaviour but also to inform service provision and reduce manual human input to systems and procedures. While such technology enables firms to personalise products and services to each of their customer segments and better understand their customers' needs, it raises important questions over privacy and consumer trust towards the firm.
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?
These days, customer experience, data and brand strategy are gaining a lot of importance in marketing. Both the customer experience and data analysis play a bigger role and marketers are spending more time in focusing on the broader business strategy instead of just focusing on advertising. The infographic titled, "Let's Talk about Customer Experience". According to Gartner study, in the coming years, most of the companies are expected to compete predominantly on the basis of customer experience. Delivering a satisfied and excellent customer experience is the new battleground of the brands.
Customer Experience Management is a hot topic, and understanding and "managing" customers' cross-channel journeys sits at its heart. We have developed an approach to quickly and efficiently make progress in customer journey mapping and thereby'engineer' your customer experience. Many companies concentrate their journey mapping efforts on "getting the processes right". This approach is likely to see quality and consistency improvements, but often at the cost of the customer feeling'processed', plus opportunities can be lost because the customer doesn't want to "do it your way". We believe that Customer Experience designers must understand that how the customer felt about the experience is very often more important than what was physically done.