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2021 Preditction

JOURNEY

a customer experience newsletter

(this week’s newsletter is a 7-minute read)

2021 Predictions WHAT’S JOURNEY NEWSLETTER?
Journey is a weekly newsletter from Y Meadows that curates the best thought leadership at the intersection of technology and customer service.
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4 CX Insights from Isobar


In This Week’s Newsletter

  • 2020 CX Survey
  • A CRM Revolution
  • TikTok CX?

2020 CX Report 📝

Global experience agency Isobar has published the results of an exclusive study of over 1,350 global chief marketing officers assessing the evolution of customer experience design in the age of Covid-19.

In 2020, faced with the challenge of a global pandemic with unprecedented economic impact, it might  have been reasonable to see CMOs shy away from creativity and focus on optimizing tried and tested approaches. Contrary to expectations, in their recent survey, Isobar saw a significant increase in the value CMOs place on ideas and innovation in shaping CX strategy.

Continue reading for FOUR (4) critical insights from the report:


4 CX Insights


4 CX Insights from 1,350+ CMOs 📣

1. The Power of Idea-Led Experiences

  • In a world of increased experience parity, CMOs place their bets on innovative use of technology (58%) and the importance of a galvanizing organizational idea (50%) as key ingredients for building differentiated customer experiences.
  • Without ideas as a brand platform, innovation is simply technology, and experiences are mere exchanges.

 


2. Peak Personalization?

  • While personalization scores highly among the key ingredients for building a differentiated experience (63% of CMOs agree personalization is a key ingredient), opinion is divided among more progressive CMOs who increasingly prioritize new and innovative technologies and those in the earlier stages of their transformation journey.

3. Augmenting Humanity

  • When identifying the specific technologies used to deliver differentiated experiences, CMOs are increasingly turning to technologies that offer more human and conversational interfaces.
  • While AI is currently the most used emerging technology by some 36% of CMOs, Voice and Chat based interfaces follow closely behind at 29% and 28% adoption respectively.

4. Digital Data Infuses Physical Spaces

  • Virtual and Augmented Reality are also entering the mainstream, with 28% and 27% adoption respectively among CMOs.
  • Augmented Reality and Spatial Computing also featured strongly in the list of future priorities for CMOs wishing to improve customer experiences.

4 CX Insights from Isobar

 


CRM Revolution?  🔗

 

A great customer experience helps companies to get more leads, convert more of them into paying customers and get them to refer more people, thereby boosting both the company’s brand and bottom line. Achieving that excellent customer experience is the goal of Customer Relationship Management (CRM) and the diverse tools and processes that have been developed to facilitate it. A great piece from Entrepreneur.com details the undercurrents of an oncoming CRM revolution.

Big Data and Personalization

  • The crux of the customer experience has always been the emotions that you are able to evoke in your customers because the happier they are and more connected to your brand they feel, the more likely they will be to continue to patronize you and refer others to you.
  • Now, with the advent of tech that can collect and analyze customer data from a wide range of touchpoints such as social media, marketing campaigns, sales, and contact platforms, it’s easy to automate the personalization of every stage in the customer’s engagement with your company.

Mobile CRM

 

  • Customers spend most of their time on their mobiles according to this study showed that in 2019, the average US adult spent 3 hours and 43 minutes a day on mobile devices.
  • To keep up with them, salespeople and customer service staff always have to be on the move and ready to respond at a moment’s notice. That has made mobile CRM grow in popularity significantly in recent times, with various popular CRM platforms introducing mobile apps to help companies perform actions on their smartphones and tablets.

Marketing Automation

 

  • Traditionally, CRM has been driven by human beings poring over endless lines of excel spreadsheets and typing emails to respond to prospects or customers or responding to instant messages. Expectedly, that process takes time and is often fraught with mistakes of various types, which is what marketing automation seeks to solve.
  • Things like chatbot and automated lead scoring will continue to be crucial aspects of any company’s CRM strategy, enabling them to save money while simultaneously increasing the speed and accuracy of their CRM decisions, to provide the ideal customer experience, get sales and referrals, and ultimately boost the bottom line.

4 CX Insights from Isobar



Snacks for the Road 🍿

  • What Is A Startup’s First Success Story? [Link]
  • 6 Dynamics That Drive Your CX [Link]
  • Interview with LiveOps CEO [Link]
  • TikTok’s CX Horror Stories [Link]
  • Data+AI = Happy Customers [Link]

A Penny For Your Thoughts…

“Identify your unique benefits. Develop commercial insight that challenges customers’ thinking. Package commercial insight in compelling messages that “lead to.” Equip reps to challenge customers.”

Matthew Dixon
The Effortless Experience (2013)

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