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?
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.
While I get set to release my newest book -- about a month from now -- I'm going to run some excerpts (maybe) and some awesome guest posts (definitely). That way, those of you starved for knowledge, which usually means your condition after you've read my stuff, will not be, because these guest posts are on topics of necessary interest and are also meaty (or veggie, if you aren't a meat eater). I'm starting this with Elizabeth MacAuley-Italiano, someone I'm happy to say is an expert on customer engagement. I've met her -- and been duly impressed -- over the past few months by her acumen, knowledge, and skills (pretty much all there is to be impressed with in a human being), Oh, and her good nature. She is an accomplished professional who has a long history in customer success, both management and, well, success. She not only has some definitive ideas on customer engagement, but also a methodology on execution of customer engagement strategies and programs. It starts with a definition and a framework, and so does she. I have a keen interest in this area. So, what she had to say got me thinking and going -- as it will you.
Customer expectations are always multiplying. Enterprises struggle to improve customer experience and are making huge investments to meet their expectations. Regardless of the industry, the customers today expect that they will get best-of-breed experience and contextually relevant customer service. The real world is becoming digital and many more people have access to smart devices and objects. There is a need for rapid and relevant customer to company interactions on new networks and platforms.