Staying ahead with Customer Experience: How to improve your Moment of Service?

Unlocking Hidden Opportunities: Discovering New Paths

In today's fast-paced business landscape, delivering a seamless and personalized experience is crucial to satisfy the ever-increasing expectations of customers. However, this can pose a significant challenge for many organizations. The more customers demand, the more difficult it becomes to keep up.

Businesses must keep a pulse on their customer experience maturity level and identify the steps needed to move forward to avoid falling behind their competitors. Failure to do so could result in losing valuable customers to competitors who have invested in their CX strategies.

According to Gartner, a whopping 89% of companies expect to compete based on customer experience. However, Forrester has discovered that only 15% of companies are truly data-driven and customer-centric. This discrepancy between expectation and reality presents a hidden opportunity for businesses.

This hidden opportunity underlines the importance of having a CX maturity framework. Such a framework offers a structured approach to assess customer engagement and improve it to achieve business success. With a clear roadmap for success, businesses can enhance customer satisfaction and loyalty, ultimately leading to increased profits and growth.

Where to start?

Journey towards CX Excellence | Understanding the 3 Stages of Customer Engagement Maturity

Let's explore the three stages of customer engagement maturity and examine how they apply to real-life scenarios for companies in service management and their customers. Starting with the Emerging stage, we will discuss the tactical approach companies take to building a foundation for their customer experience strategy. Moving on to the Strategic stage, we will explore how companies shift their focus to unifying the customer experience across different communication channels. Finally, we will examine the Leading stage, where companies leverage AI and machine learning to deliver a truly personalized and delightful experience.

Stage 1 Emerging | Building the Foundation

At this stage, companies are focusing on building a foundation for their customer experience (CX) strategy. The mindset in this stage is tactical, with companies taking a reactive approach to customer needs. They establish a presence across multiple channels, such as web, mobile, social media, and email, to meet customers' basic needs. However, their relationship with the customer tends to be less trustworthy as they are still working to establish a consistent experience across channels.

In other words, customers would say, "This is useful, I accomplished my goal."

To measure success at this stage, companies rely on key metrics such as

• Channel usage
• Customer satisfaction
• Issue resolution time

Stage 2 Strategic | Unifying the Experience

At this stage, companies are shifting their focus from basic customer needs to unifying the customer experience across channels. The mindset is strategic, with companies taking a responsive approach to customer needs. They integrate data from multiple sources, such as CRM, marketing automation, and customer feedback, to gain a 360-degree view of the customer. This enables them to drive personalized experiences.

In other words, customers would say, "This was easy, I did not have to work hard."

To measure success at this stage, companies rely on key metrics such as

• Customer lifetime value
• Customer retention
• Cross-sell/up-sell rates

Stage 3 Leading | Automated Omni-Channel Harmonization

At this stage, companies are leveraging AI and machine learning to anticipate customer needs and deliver a truly personalized experience. The mindset is purposeful, with companies taking a proactive approach to customer needs. They use AI to analyze customer data, predict behavior, and automate interactions to create a delightful and enjoyable experience.

In other words, customers would say, "This is enjoyable, I feel good about that!"

To measure success at this stage, companies rely on key metrics such as

·??????Customer advocacy

·??????Customer effort score

·??????Customer acquisition cost

What could these stages look like to real-life scenarios for companies in service management and their customers? Join me next week for our second blog where we'll dive deeper into this topic. It's sure to be an engaging and informative read!

Unleash the Possibilities: Next Steps in Unlocking Hidden Opportunities

Are you interested in taking your business to the next level in terms of customer experience?

Whether you prefer to start with a simple cup of coffee or dive right into a scientific approach with industry leaders and cutting-edge technology, we're ready to collaborate with you every step of the way. Let's discuss how we can work together to take your customer experience strategy to the next level. Contact us today to start the conversation. Alternatively, share your thoughts in the comments below.?