At this point, nearly every company is working overtime to realign around two simple words: customer experience (CX). So much so that nearly 90% of companies now compete solely on CX—a drastic increase from 36 % in 2010—and 50 % of consumer product investments are expected to be redirected to CX innovations—like attribute matching—by the end of this year.
But what exactly does the CX consist of, especially in today’s new world of digital business innovation? This next-generation CX is supported by several advanced technologies—big data analytics, omnichannel, automation—however, these investments are all aimed at driving one thing: contextualization.
The rise of contextualized service—the ability for companies to not only gain insightful information about their customers but also deliver information in a way that is relevant and meaningful to customers based on individual circumstances to improve their experience—has evolved the CX to a point where it looks virtually nothing like it did as recently as 10 years ago. Whereas consumers once primarily focused on the act of purchasing, driven by such things as product quality and price, they now focus on the richness of brand relationships, driven by the personal value that companies deliver throughout the customer journey. Just consider that 70% of buying experiences are now based on how customers feel they are being treated. This is the key factor that sets apart market leaders like Amazon, Trader Joe’s, and Apple from the competition.
According to Accenture, there is an estimated $6 trillion in global revenue up for grabs due to dissatisfied customers constantly switching providers. The ability for companies to offer contextualized service is vital for operating at the speed of the consumer and capturing more of this market share. There’s just one thing preventing companies from seizing this limitless potential: the traditional call queue.
Every customer is familiar with the call queue. This is the place where statements like, “Your call is important to us. Please continue to hold,” and “Let me transfer you to a specialized team who can help you with that” perpetually live. It’s where exhaustive efforts to route customers to the correct service rep become lost, or where consumers must repeat the same information to multiple agents across different teams. It’s the greatest barrier preventing companies from being more dynamically connected to their consumers, and one of the greatest reasons why customers reduce their commitment to a brand.
Driving Contextualization with Attribute Matching
In a world where customers demand a profound level of connection and transparency, organizations can no longer support a contact center environment in which calls are distributed among agents who are organized by function (i.e., sales, service, support). In today’s smart, digital world, companies must transform the traditional call center into an integrated, digital communications hub. This means moving away from a siloed, metric-driven queue and instead working to put customers in touch with the best organizational resource depending on their exact need or circumstance as immediately as possible. The most effective way to achieve this is to migrate from archaic infrastructure towards an integrated, agile, next-generation platform built on open communications architecture.
Open communications architecture allows organizations to seamlessly collect, track and share contextual data across various teams, processes, and customer touch points. This integrated environment supports a real-time data repository from which businesses can pull from to route customers based on needs beyond traditional characteristics (like language preference). Rather, the technology allows companies to build customized learning algorithms that drive anticipatory engagement, enabling them to match customers based on next-level variables like personality, emotion and relatability.
Imagine, for example, a hotel routing a customer directly to an IT staffer after seeing that the person tweeted about a poor in-room Wi-Fi connection. Imagine a bank being able to route a customer to a money management expert after seeing that the last five questions asked via live chat were about account spending. Imagine an athletic apparel company matching a customer with an agent who is an avid runner after noticing that the individual recently signed up for a 5K.
The future of the CX means creating and continually building a contextualized view of customers throughout their entire brand journey. It means going beyond customer service to establish unparalleled, organization-wide relationships. It means transforming peoples’ lives, verses simply answering questions. This is what companies must work to align themselves with. The good news is that technology has evolved to a point where they can now easily, effectively and cost-efficiently do so.
Interested in learning more or getting beyond the queue to Redefine Your Customer and Employee Experiences? Contact us. We’d love to hear from you.