How do you decipher what’s smart from trivial when investing in your customer experience (CX) strategy? We put on our Sherlock Holmes gear to uncover the facts of three common misconceptions, and how to deal with them. Here’s what you need to know:
Data is today’s advantage when it comes to smarter CX, and investing in Big Data and IoT can offer major advantages to delivering better experiences. But, while data is seemingly free flowing in, companies aren’t equipping themselves to effectively use it – they’re insight-rich and action-poor. It’s like squandering money on the latest designer trend that ultimately gets pushed into the black hole that is the back of your closet, never to be seen again.
Without the ability to activate and strategically apply data across all areas of the organization, it becomes worthless. Data must help us reach the mecca of customer experience – where all channels of information, whether first-, second-, or third-party sources, are in sync to get a full view of the customer and give them the right experience, at the right time. Take time upfront to figure out which data points you need to start with, and your data will stay out of the black hole.
Investing in digital channels can seem cheaper than analog for various reasons, but investing more in digital doesn’t necessarily lead to a reduction in the overall cost of customer service. As it becomes easier for customers to engage with your business, they want to engage more – which means you need to ensure you’re readily available on any channel they choose, whether it be email, chatbot, or a rotary telephone. It’s a blessing and a curse; more happy customers likely equals more dollars spent.
It’s important to understand how your customers expect to interact with your company, and don’t just assume it’s all digital. Whichever methods of engagement and customer actions are prominent should dictate how you form your omni-, cross-, and multi-channel journeys to create a completely connected experience. (Have you been using these three words to describe the same thing? There’s a difference, and we broke it down.)
Net Promoter Score (NPS) is widely used by CX leaders to get a sense of how likely customers are to stay loyal and recommend the brand. But, measuring NPS alone doesn’t give you a total view of customer satisfaction. It’s typically measured once during a customer’s lifecycle, and rarely across multiple points of interaction.
The best indicator of happiness during the customer experience journey is the point at which the emotional value of the customers’ expectation materialized. MarTech Advisor suggests these “moments of truth” can stem from a major turning point in the relationship, a crisis, and an unexpected delight. Make sure you’re using multiple measurements when evaluating customer experience, including Lifetime Value (LTV), Customer Satisfaction (CSAT), and Customer Effort Score (CES).
To learn more about how you can bust these myths at your company, check out this interactive experience and download the full ebook: Smarter CX: Busting 3 Common Myths of Customer Experience.