What is going to drive successful customer experience in today’s rapidly-changing digital landscape?
Customer Experience (CX)
covers a lot of ground in describing the behavior and engagement of all your customers across all channels. Pre-pandemic, it was obvious to everyone CX was important, but now, every business is seeing just how important it has become. There is no scenario in which real-time CX is not a top measurement for every CEO.
Welcome To Cerebri AI
What is CX, and how does it relate to your business? There are many definitions and terms. We believe it is all about understanding a customer’s behaviour, engagement and commitment across every channel in time.
Over the past 20 years, the adoption of eCommerce, online banking and social media interactions have added a considerable amount of complexity to understanding customer sentiment and behaviour. That was all pre-pandemic.
One year ago, the world was thrust into the chaos of emergency hospitals, ventilator shortages and lockdowns. Instinctively, new and existing users turned to the digital channels across industries to connect with the necessities.
The figure below from an April 28, 2020, McKinsey survey shows a dramatic increase in first-time users across industry verticals. A trend that continued throughout 2020.
How does this dramatic shift in digital customer interactions impact the experience of our customers, and more importantly, what do we do about it?
Key Drivers For Successful CX:
- Measurable Results
- Engagement Drives Revenue
- AI vs Rules for Best Insights
- Action This Day
Driving CX In a Post Pandemic World.
CX should drive results – focus on measurable engagement metrics for all new and existing customers, across every channel.
Engagement drives revenue
Commitment to your brand and engagement should drive your hard revenue KPIs, but the two are rarely connected for success.
AI vs Rules for Best Insights
Rules-based decision engines are obsolete. Customer events represent 70-90% of what drives insights in customer behavior.
Action this Day
Increasing engagement & revenue requires timely action. Not all NBAs are created equally, and not all are personalized when it matters most.
Omnichannel is the same actions & offers across all channels at the same time. Digital is the fastest channel: it drives the tech stack used.
AI-driven CX success is costly: pilots, projects must see payback immediately for CMO’s and CFOs to continue backing investments.
CX covers a lot of ground, and practitioners are under increasing pressure to deliver results. We see too many projects that do not focus on the bottom line. In our post-covid-19 world, results will be increasingly difficult to garner as everyone is wired into omnichannel and overwhelmed with constant messages. When we say “Engagement drives revenue”, we mean business spends hundreds of billions of dollars on their brands, and then systematically ignores this when focusing on their “hard metrics” and quarterly revenue goals.