Our team collected some insightful articles on CX. In honor of the New Year, many of our selections include lessons learned in 2013, and action plans for 2014. The topics range from customer experience trends, to Big Data myths, and more. There’s a lot of great info to pick up on from these great reads, have a look!
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14 Customer Experience Trends for 2014 (The Year of Empathy) [experiencematters.wordpress.com]
We begin this week’s CX buzz with a list of trends to be on the lookout for in 2014. These come from Mr. Customer Experience himself - Bruce Temkin. He made note that 2013 saw a great wave of technological advancements aimed at improving the concept of customer experience. Temkin feels that 2014 will see a continuation of that trend and will be the “year of the customer.” Companies will make a greater effort to try to know and understand their consumer base.
We hope you will enjoy reading Temkin’s list of all the 14 expected trends for the year 2014.
A Look Back: 5 Customer Experience Trends from 2013 [cmswire.com]
The author claimed 2013 was the year that customer experience management (CXM) matured and expanded, exploding from websites to call centers and more. A great deal has been spent on understanding what CX actually means. Forrester defines customer experience as "how customers perceive their interactions with your company.”
This led to some very interesting trends in 2013. The customer was made a part of most of the processes in a company, and the customer journey was recognized as a very important concept.
Big Data Myths Give Way to Reality In 2014 [readwrite.com]
Big Data is a commonly used term in almost all discussions that involve the customer experience. Continuing with this emphasis, it is predicted that 2014 will be a myth-buster year for Big Data. Companies will start realizing that Big Data is more about variety and velocity than volume.
The author uses an excellent infographic from Gartner to explain his points. As time passes, the insights it presents will become more and more accepted as more myths become dispelled.
Welcome to the World of Business-To-Everyone [huffingtonpost.com]
Customer experience has been discussed this entire year and will still remain a center of attention in the business world for some time. Emerging technologies are disrupting the current thinking in virtually every aspect of business today. Did you know that customers report they are willing to pay up to 30% more for a superior customer experience? Did you know that organizational changes in business are resulting in 40% of companies expanding the number of employees involved in customer interactions?
These kinds of positive disruptions are being recognized ad appreciated by the customer. The author predicts that, as the years go by, the merger of B2B and B2C buying models will evolve to a new model, which the author calls B-to-Everyone.
Making Customers Wait May Drive Them to Your Competition [royatkinson.blogspot.in]
We end this week with one of our favorite topics, building customer loyalty by delivering better customer experiences. Customers typically say they want to speak with an actual human being about their more complex questions or problems. Yet, their first preference is self-service! Why? Because what they also want is a quick resolution. Customers feel their issues can and should be resolved in an instant, especially when the issue is not one of their own making. Did you know that 64% of customers will hang up after waiting on hold for five minutes, and a whopping 91% will hang up after ten?
The author, Roy Atkinson, suggests that information-capture technologies should be integrated into call centers so that customers are given the option of call backs instead of long hold times. The author ends the article wondering if this is indeed the best answer. What do you think?