It’s 2023 and the CX landscape is evolving faster than ever before. Customers today are expecting more from their service providers, and businesses that fail to keep up are being left behind. With that in mind, let’s take a closer look at some of the key CX trends in 2023, with a focus on the contact centre.
The Disconnect in Customer Experience: How Fragmented Channels Undermine CX
Imagine you’re a customer trying to reach a company’s customer service team. You start by sending an email, but you don’t hear back for a few days. So, you decide to call the company’s customer service line, but you’re put on hold for what feels like an eternity. Finally, you give up and decide to send a message via social media. The response you get there is helpful, but it’s clear that the team handling social media is not communicating with the team handling phone and email inquiries.
This is a prime example of a disconnected customer journey. And while it’s true that many companies are making progress towards a true omni-channel experience, there’s still work to be done.
Disconnected journeys, disconnected customers and teams remain prevalent in many contact centres. Customers often find themselves having to repeat their issue across multiple channels, and agents struggle to keep track of these disjointed interactions. This can lead to frustration on both sides and a poor overall customer experience.
In the UK, research by PwC found that only 10% of companies are delivering a seamless, omni-channel customer experience. This presents a huge opportunity for businesses that can get it right. By providing a truly omni-channel experience, businesses can improve customer satisfaction and loyalty, reduce churn, and increase revenue.
CX Pays Off: How Prioritising Customer Experience Boosts Revenue and Loyalty
If you’re managing a contact centre, you’re well aware of the impact that customer experience (CX) has on the success of your business. When your primary goal is to assist customers, failure to do so can lead to significant consequences.
But investing in CX isn’t just about keeping your customers happy; it’s also about reaping some serious returns on your investment. The benefits extend far beyond the short-term gains. It’s long-term benefits like customer loyalty, cost savings, and a strong brand reputation which will pay dividends. In other words, when you invest in CX, you’re making a smart move that will pay off in the long run, whether it’s through training or upgrading your technology.
For example, did you know that 86% of customers are willing to pay more for a better customer experience? And a separate study found that companies that prioritise CX see an average revenue increase of 5.1% year over year. That’s a significant increase that can really add up over time.
When it comes to seeing the ROI of CX, the small changes can make a massive difference. Premium Credit is a great example. They integrated their IVR services into their wider systems to provide automatic ID&V. This shaved off 60 seconds per call. Now agents can spend more time with customers, delivering a better experience. Greater London Authority also saw similar benefits when they integrated their IVR services into their wider systems and delivered a 66% reduction in call handling volume.
Bottom line is this: if you’re not investing in CX, you’re losing out on some serious opportunities. By prioritising your customers and providing them with an exceptional experience, you’ll see the ROI in no time.
Conversational analytics: From Data Collection to Actionable Insights
Conversation analytics is a relatively new concept in the world of CX, but it’s one that’s gaining traction fast. Conversation analytics involves analysing customer interactions across multiple channels, including voice, chat, and social media, to gain insights into customer behaviour and sentiment.
For example, let’s say a customer contacts your company’s customer service team with a complaint. By analysing the customer’s tone of voice, word choice, and other factors, conversational analytics can identify the customer’s sentiment (e.g. are they angry, frustrated, or satisfied?) and the underlying issue they’re experiencing.
This information can then be used to improve the overall customer experience. For example, if you notice that many customers are contacting your company with the same issue, you can use that information to proactively address the issue and prevent future complaints. By identifying common issues and understanding how to resolve them more efficiently, contact centres can reduce operational costs associated with handling customer inquiries.
In the UK, research by Accenture found that 74% of businesses are investing in conversation analytics to improve their CX. This presents a huge opportunity for businesses that can get it right. By using conversation analytics to gain insights into customer behaviour, businesses can improve the overall customer experience and drive revenue growth.
Don’t get left in the dust when it comes to CX. Businesses that fail to keep up are being left behind. By focusing on omni-channel, ROI, and conversation analytics, businesses can stand out from the competition and drive growth like never before.