Gartner predicts that over 50 percent of the customer product investments will be channeled into customer experience innovations by 2017. Businesses will look to leverage strong tools and rich data to gain insights on customers. Businesses will have to take a systematic approach to make improvements in their CX strategy, and knowing about the trends is certainly a good place to start.
Localisation of CX initiatives
Multinational companies that use umbrella CX initiatives may not see the results that they expect. What’s more is that they may lose out on lucrative customer opportunities to Asia Pacific-based companies who mold Customer Experience initiatives to the local culture. CX leaders should align strategies and models around the customer, with localisation if they want their CX initiatives to yield returns. The Asian air travel industry has already begun to explore this idea. Nearly 50 percent of airline profits are being dedicated to improve passenger-centric experience according to a survey. Other industries are not far behind.
Mature mobile experience
The Mobilegeddon took centre stage in the digital world in 2015. 2016, on the other hand, will see businesses focus on offering customers a mature mobile experience. Indeed, it is not just about having a mobile-friendly site any more. Setting up a mobile-friendly site is just a preliminary step, the bigger CX challenge will be to create innovative mobile experiences. Businesses will focus on mobile-only and mobile-first experiences if they want to put a stop to multi-screening and channel-hopping. More and more customers will grow to expect O2O (online to offline) from businesses. This also means that the digital wallet market picks up pace. Rest assured we will see multiple players like WeChat and Alipay fight it out, amidst stiff competition from tech players like Apple and Google.
Emotions over logic
The average buyer would like to believe that they give rational decisions precedence over ones made purely based on emotions, but the truth is far from that. Emotions do sway customers buying decisions, and another important factor, customer loyalty. Indeed, sentiments such as how a brand makes customer feel will have a crucial role to play in whether or not they would want to associate themselves with the brand in the future. Businesses will look to tap into the potential of these emotionally-driven customer retention strategies. It goes without saying that big data and machine learning will help develop customer-centric strategies to promote customer loyalty.
Steve Nuttall heads up Fifth Quadrant’s CX research and insights team. Steve looks to inspire Customer Experience Professionals by helping to make the business case for customer experience research investments, advising on how to implement different research techniques to create better experiences, and demonstrating the ROI from CX programs.