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.
It's the time of year where customer experience (CX) professionals and pundits dust off their crystal balls as the industry looks toward another year of uncertain opportunities and challenges. Last year raised the bar, as breakout technologies, such as artificial intelligence (AI), intelligent assistants and robotic automation, began to take hold and shift the CX paradigm as we know it.
AlphaGo beating Lee Sedol, Go World Champion, may make us humans feel uneasy when confronted with such intellect, but should we instead be embracing artificial intelligence (AI)? Optimists see AI to be the saviour of customer experience in the financial services industry. Siri and Cortana are now at the frontline of providing information services, before we would of had to manually type into a search engine or call up a customer service team to find the answer. This seems just the beginning of AI enhancing customer experience, and its influence in the financial services sector is growing. The financial services sector has been excited with news of BBVA working on their virtual banking assistant Lola, RBS investing into a robo-advisory recording system and Mitsubishi UFJ challenging Lola with their humanoid virtual assistant Nao.
Amazon.com Inc. unveiled technology that will let shoppers grab groceries without having to scan and pay for them -- in one stroke eliminating the checkout line. Each year, new data comes out that indicates customer service and the customer experience (CX) are more important than ever. According to Forrester, 72 percent of businesses say that improving the customer experience is their top priority. A study from NewVoiceMedia indicates that companies lose more than $62 billion due to poor customer service. No company can afford to be a customer service laggard.