What does such a revolution mean for today's CIO? For one, customer-facing functions such as sales, marketing and customer support are receptive, visible arenas for investing in digital transformation initiatives. But to succeed in this new landscape, CIOs have to move beyond overriding concerns with cost savings and internal operations; instead, they should think expansively and strive to embrace the customer-obsessed culture, which will drive growth in turn. Further, there is an undeniable link between customer experience and employee experience. Multiple studies have shown that investing in employee experience impacts the overall customer experience, with its highly desirable and significant return on investment.
Artificial Intelligence (AI) is estimated to increase hotel revenues by over 10% and reduce costs by 15%.Some of the practical examples of how hotels can manage the guest experience include increasing operational efficiencies, improving in-stay experiences through targeted communication and personalization brought about by AI technology.
It used to be that brands could think and operate on a transaction-by-transaction basis. People shopped for goods and services, they bought something, and then they and that brand parted company until the customer came back to buy something else. Businesses that want to thrive today need to create a brand experience that isn't just about what happens at point of sale or even during a protracted shopping experience.
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.