Deloitte found that “buyers are likely to spend 140% more after a good experience than those who report bad experiences”. Another statistic by Super Office states that “customer-centric brands are 60% more profitable than those that don’t focus on customers”. Such statistics reflect the pivotal role of customer experience in a company’s ability to achieve long-term success.
Most companies today are aware of the implications of poor customer experience and will do what’s in their power to enhance satisfaction at every touchpoint. However, there are certain challenges faced by all organizations while trying to create a frictionless customer experience.
That brings us to today’s article, where we will explore 7 key challenges faced by CX experts when trying to improve CX and how you can overcome these challenges.
Watch the video below to learn how Voxco can help you can enhance your overall customer experience.
Customer experience refers to the perception customers have of a brand based on their overall experience with the company across all touchpoints within their customer journey. CX is critical in helping a company create customer loyalty, prevent churn, and achieve long-term success.
Customers today have a range of options in the market for almost every product they could desire. If one brand doesn’t meet their expectations, they will just move to another. Even a single bad experience could lead to a customer never shopping from your brand again. This is why it is so important to create an excellent customer experience that leaves customers satisfied and keeps them wanting more.
Let’s take a look at some key challenges to CX and the ways in which they can be overcome to deliver exceptional experiences and win customer loyalty.
Here’s a list of emerging customer experience challenges in 2024-
Organizational data silos pose a key challenge to the customer experience. When data isn’t properly unified and structured, employees don’t have access to the full picture while analyzing the data.
By having all your data in one place, you enhance overall data quality by revealing powerful and accurate insights that would not have been possible to find within siloed data.
Solution: Employ an omnichannel analytics platform.
A great way to combat data silos is to employ an omnichannel analytics platform that stores all gathered data, from all channels, on a single unified interface.
Such survey software helps brands acquire actionable insights from their data in real-time to understand what exactly may be impacting their key performance metrics (KPIs).
Another common CX challenge facing organizations is creating a culture of customer-centricity across all departments and teams. In order to provide a great customer experience, you must first put yourselves in the customer’s mind to understand their wants, pain points, and behavior.
By having this understanding of your customers, you can ensure that decisions are made with the customers’ best interests at heart.
Solution: Share CX data with relevant departments and teams.
In order to create a company-wide culture that is based on customer-centricity, it is integral to share the gathered CX data and insights with relevant groups and individuals within the organizations.
When every department within your organization has access to relevant data and insights, it enables them to optimize touchpoints with customers’ preferences and pain points in mind.
With technology developing at a rapid rate, there are constantly new and updated tools that can be leveraged by organizations to measure, analyze, and improve customer experience, thus reducing customer service mistakes.
For instance, certain customer intelligence platforms leverage the power of AI and ML to gather and analyze CX insights in real-time. By continuing to employ outdated tools, you place yourself at a disadvantage to your competitors, who could be utilizing advanced analytics tools to elevate CX.
Solution: Keep an eye out for new technology and update software/hardware when required.
It is important to stay updated on new survey software and technology for customer experience. You can do so by following reliable websites, social media pages, or even blogs that produce content about customer experience.
These pages will provide updates on new technology and analytics platforms that can be used to understand and elevate CX so that you can explore new technology and employ the tools that are likely to benefit your organization.
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In the last couple of years, it has become extremely apparent that customers love receiving personalized experiences. Epsilon found that “80% of consumers are more likely to make a purchase from a brand that provides personalized experiences”.
Personalization, therefore, has an extremely powerful impact on customer experience, and companies that fail to provide personalized experiences risk losing their customers to competing firms. A common challenge while trying to provide personalized experiences is delivering these unique experiences at scale to all customers of the organization.
Solution: Use the Right Customer Segmentation Platform.
In order to provide personalized experiences at scale, you must employ technology that can effectively create customer micro-segments based on shared customer characteristics. Once these micro-segments are created, you can tailor unique recommendations, marketing messages, and experiences for each unique group.
Different customers have different pain points and different issues along their customer journey. The list of customer grievances is almost never-ending, making the task of prioritizing CX issues a very important one. By finding out which problems are more urgent and must be acted on first, you can prevent customer attrition and keep your customers satisfied.
Solution: Use Journey Analytics to Measure the Impact of Various CX Issues.
Customer analytics and customer intelligence solutions can help you extract insights and quantity of the impact of various CX issues so that you can prioritize them using a data-driven approach.
Additional read: CX trends in retail.
A customer’s journey to discover and purchase from your brand includes multiple touchpoints across multiple channels. This makes it difficult for the stakeholders to keep track of and align CX’s strategy with business objectives.
Without any awareness of how these initiatives are impacting the customer experience, you miss the opportunity to offer more and enhance the services.
Solution: Gather Feedback Directly from Customers on Various CX Initiatives
Run surveys to gather data on the impact of your strategies. Understand customers’ perceptions, identify the gap between what you deliver and their expectations, and uncover their issues. Continuously evaluate the interventions to improve customer experience and fine-tune your strategies.
A CX program requires time and resources, which makes it important to demonstrate its value and benefit to the business. However, according to Forrester’s report, 54% of CX teams cannot prove the ROI of CX initiatives.
Solution: Develop Metrics that Track the Impact of CX on ROI
NPS, CES, and CSAT are among key CX metrics that can help you evaluate not only the strategies but also their impact on customer experience. Measure customer satisfaction and loyalty to the brand to anticipate their lifetime value.
Iterate the process of gathering customer data to align the CX initiatives with the changing customer expectations. The data enables you to demonstrate the positive impact and the ROI of CX strategies.
In the evolving business world, it is clear that organizations are facing unique challenges in meeting customer expectations. The rapidly shifting customer needs and increasing demand for personalization
Organizations must recognize these challenges in customer experience and adapt solutions to build strong relationships, increase customer lifetime value, foster loyalty, and drive business growth. Business success lies in prioritizing and investing in building customer-centric experiences at every touchpoint.
Customer experience refers to customers’ perception of an organization based on their compounded interactions with a brand across all touchpoints within their customer journey.
The customer experience you create will influence customer loyalty, customer attrition, brand advocacy, and your CLV. By failing to provide a great customer experience, you risk losing your customers to your competitors and damaging your bottom line.
Some key challenges to building a great customer experience are:
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