The digital age and new technologies are changing the way that companies must serve and engage their customers. Organizations which keep up with these trends will not only realize significant revenue and customer service benefits, but they’ll also position themselves to deliver a superior customer experience.
Unfortunately it’s not as easy as investing in the latest technologies. The organizations who benefit will be those who leverage innovative technology to collect customer data, and then strategically apply that information to a customer-focused and personalized customer service program.
Business that successfully do this have a unique opportunity to improve operational efficiencies, drive revenue and deliver far superior customer service and a significantly better customer experience than their competitors.
According to a new report from Experian titled ‘Master the Customer Experience’, businesses today estimate that an average of 45% of their revenues are directly or indirectly attributed to digital activity. Those same businesses expect that figure to increase to 55% by 2020.
This represents a significant milestone for many businesses, especially those in highly competitive industries such as retail. It means companies must now meet ever-growing demands when it comes to customer experience, or risk falling way behind their competitors.
Using data revolutionizes customer experience
An explosion in digital channels and new devices means the market is far noisier than it has ever been before, and consumer attention is significantly more divided. This means it’s now critical for companies to use voluntarily provided customer data if they are too offer an informed omnichannel strategy.
Through the collection of data, your company will be able to learn a range of things that will help you to offer a more personalized service, design an improved customer experience and give your customer exactly what they want.
As a result of this increased need to become data-driven, the study from Experian found that customer experience is currently cited as the top objective for digital transformation by more than three-quarters of businesses today (76%).
What are the benefits of a data-driven strategy?
With the implementation of a data-driven strategy that uses real-time data to provide customer service representatives with valuable insights into your customers, your organization can realize significant benefits. We have listed just a few of those here.
A personalized approach: The more information you have on your customers, the more opportunities your business has to offer a personalized approach to both your customer service and marketing strategies. Personalization can help improve customer loyalty and customer lifetime value (CLV) metrics, as well as improve their overall customer experience with your company.
Exposing user issues: By collecting data you will be able to expose common user issues, and even solve potential issues before the customer even knows they exist. By collecting and analyzing customer service metrics your business can find trends that answer important questions, such as why you lost a customer or where customer service can be improved.
Measure the customer experience: Using data to improve customer experience requires a deep understanding of your customer’s behaviours as well as their preferences. Whether that be collecting and comparing customer metrics or analyzing transactional data, using customer data to measure customer experience is key to creating a successful customer service strategy.
What are the challenges when it comes to digital transformation?
Embracing digital transformation in your business is much easier said than done. Implementing modern technologies such as artificial intelligence (AI) and back-end customer service software can be expensive.
However, without these technologies and tools it’s simply impossible for businesses to digitally transform their company. That’s why many organizations turn to the help of an outsourced contact center, but it’s essential you choose one with the innovative technology and expertise to bring your customer service into the digital age.
How can Advantage Communications help?
Advantage Communications uses our own patented CRM applications which utilize real-time data and reporting, as well as the use of innovative AI that automates the process of collecting consumer data.
This empowers our agents to provide world-class customer service and a superior customer experience that not only drives profits, but brings customers back to your company time and time again.
Ready to learn more about how Advantage Communications can transform your organization’s customer service and deliver a customer experience that’s driven by informed data? Contact us today to for more information.