Making 2023 the Year of the Customer
Happy New Year! Amid the doom and gloom of rising costs, inflation and uncertainty, I am about to make a bold statement. 2023 is going to be the year of the customer. After the year we have had, filled with continued disruption and economic turmoil, it might be difficult to see how 2023 can be any different; at a time when budgets are tight, can we really expect big advancements in customer excellence? Perhaps not, but the one thing which we should expect is the refinement of existing CX strategies and an evolving focus on the customer. Below are my five CX predictions for the upcoming year.
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1.????? With the new Consumer Duty coming into play in July in the UK, businesses are gearing up to ensure that their customers’ needs are put first with good and fair outcomes for all. The start of 2023 will keep businesses busy updating their processes to ensure that they are empowering their customers to make informed purchase decisions. After all, in these rising cost-of-living times, brands not only have a responsibility to their customers but have much to gain long-term from having their backs now.?
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2.?????2023 is no doubt going to be a year where budgets are tight and there will be cuts across the board. It is time for CX leaders to get creative and step up their game if they want to convince the CFO to approve new investments. Those organisations possessing strong data management and literacy will come out on top as they stay in tune with changes to customer behaviours and frictions along the customer journey, and are better able to prioritise required change.??
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3.?????With great data management, comes refined channel strategies. The more companies listen to their customers, the better they will become at meeting them where they want to be met. 2023 will bring with it more AI and effective self-service as companies continue to try and save costs and relieve the pressure on human agents, and we can expect to see an increase in the use of technologies such as QR codes to direct customers to the right place.??
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4.?????Just as CFOs will have tight budgets, so will the customer. 2022 saw trust and loyalty plummet; 2023 is going to be the year to regain this. The customer will be reinstated as king as they make smarter choices with their money, and with it will come a rise in loyalty programme offerings and a revamp of brand propositions and advocacy. From a greater focus on customer engagement technologies to signing new brand partnerships to boost value and USPs, the pressure is on to deliver something different and of extra value without lowering the price of service.?
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5.?????As there is little which can be done on price this year, companies must look to add value elsewhere. Whether it be in the service, the product or the variety of offerings, the customer will be at the core of every decision. We will see organisations investing in their staff and empowering frontline workers with knowledge, experience and decision-power, enabling them to quickly act and make decisions to help meet customer needs in an efficient manner.
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To conclude, as bleak as the outlook may seem after 2022, 2023 will be the year of proving to the customer why you should be in their lives. The year will be about adding value at every turn, and effectively boosting the experience you currently have on offer. There is no doubt about it, we are currently living in tough financial times, and it will be the companies that display compassion and empathy whom the customers will turn to in 2023, and those they will stay with for the future. So, let’s make 2023 about the customer.??
Our CX Exchanges are going to be a fantastic platform for CX leaders to connect, vent, find solutions and create new visions for the future. Make sure to find the event most relevant to you, and we look forward to making 2023 a year to remember.??
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