When the world shut down in March of 2020, brands had no choice but to adapt. Digital transformation plans were rushed, health and safety standards surged to an all-time high, business operations transformed daily — and consumers were witness to it all.
Despite the impressive ability of some of the world’s biggest brands to pivot, adapt, and transform at a moment’s notice, we found ourselves in the perfect storm. Consumers now know just how quickly a brand can react to changes in the market. This is the new normal they keep speaking of… agility. It’s all about how quickly businesses can adapt and align with changing customer expectations.
Let’s face it, brands today are competing mostly on customer experience. In fact, 50% of customers will switch to a competitor after just one bad experience. On the other hand, 75% of customers are willing to spend more to buy from brands that provide a good customer experience.
Keeping up with customer expectations is not easy, but it’s not impossible. Customers are telling you what they want in their purchasing habits, reviews, social media comments, customer service interactions, and anywhere else you can think of.
So, why doesn’t your customer experience align with consumer expectations? We have some ideas…
You’re Not Seeing The Full CX Picture
When it comes to understanding the true customer experience, brands have more data available to them than ever before. Yet, so many brands are still relying on survey data as the core measurement of CX.
The problem with relying on survey data alone is that it falls short of the true customer experience. According to research by McKinsey & Company, using survey data as the measurement system for customer experience is limited, reactive, ambiguous, and unfocused.
Now, we’re not saying you should stop taking surveys, but you may want to start taking a more holistic approach to analyzing the customer experience.
Look at the customer journey in its entirety. Take those customer surveys and support them with data on customer purchasing habits, ad performance, social media engagement, videos, images, online reviews, customer support transcripts, and the thousands of other data sources you’re already pulling from across the organization.
The data already exists. Don’t let its complexity prevent you from identifying new opportunities.
You Don’t Know Why Customer Expectations Are Changing
It’s easy to identify when your customer churn rate is up or your CSAT score is trending negatively. Unfortunately, finding insights to support why this is happening, isn’t always as clear.
When it comes to CX problems, identifying the “what” is the easy part, it’s the “why” that many businesses struggle to determine. Let’s say, the customer support line is facing longer wait times than usual. Is it that you don’t have enough reps? Or enough Spanish-speaking reps? Is it even your support team at all? Could there be a problem with the in-person service that’s causing customers to seek out additional support?
All of these problems are easy fixes but if you don’t understand the “why” behind the “what”, you’re playing a costly game of whack-a-mole.
Your Actions are Reactive
Are your insights producing opportunities that make a difference? Keeping up with consumer expectations is all about finding patterns in the data and making adjustments before they become problems.
In a digital-first world, customer issues can grow like wildfires taking over online reviews and social media comments. Put yourself in a position where you can not only react quickly to CX issues but prevent them in the first place.
You can’t stay ahead of consumer expectations with stale data or insights that took you months to find. The wants and needs of your customers are evolving daily, your insights should evolve with them. Automating the identification and prioritization of your insights empowers your brand to take action on profitable opportunities quickly.
Take Your CX Data Further with Data Capitalization Management
Aligning consumer expectations with the customer experience not only breeds customer loyalty but provides the building blocks to consistent revenue streams. Data Capitalization Management is all about turning your data into profit. Let Unsupervised AI do the complex work of preparing and enhancing your CX data, in order to find meaningful patterns about your customers within that complex data. Don’t let data complexity hold you back, turn it into your competitive advantage.
Ready to become data profitable? Click here to see the Unsupervised platform in action.