In today's fiercely competitive market, brands are constantly searching for ways to differentiate themselves and capture the attention of new consumers. But how can they truly leave a lasting impression? The answer lies in the transformative power of unforgettable experiences.
In the fifth episode of our series on the State of Customer Service, Denese Waiters, Director, Customer Service Advisory, and Omnichannel Practice Leader at J.D. Power, is joined by the “queen of customer experience,” Blake Morgan.
With her extensive background as an accomplished author, esteemed adjunct professor for the Rutgers Executive MBA program, and host of the “Modern Customer Podcast,” she possesses incredible insight into guiding brands toward crafting unforgettable experiences that foster unwavering customer loyalty.
Listen in as she breaks down what the modern customer looks like in today’s world, mistakes companies need to avoid when developing customer experience (CX) strategies, and the pivotal role that technology is playing in shaping these experiences.
Here are some highlights from their thought-provoking discussion:
A successful CX strategy requires a clear understanding of the modern customer. The modern customer:
In this highly competitive market, customers have come to expect a certain level of excellence in their interactions with brands, and their expectations are being set by experiences they are having with new brands, like Netflix, Amazon, and Apple. If a brand fails to live up to the expectations set by those brands and deliver a seamless experience, it can have a detrimental impact on their future interactions with that brand.
One common mistake in implementing a CX strategy is the struggle to balance short-term goals and future challenges. An excellent example of a focus on short-termism is Peloton. During the pandemic, they experienced an extraordinary surge in demand and rapidly increased production without considering their post-COVID strategy. Due to this lack of foresight and strategic planning, their valuation declined, and they now face challenges in getting back on track.
Key Takeaway: It is not possible to compensate for misguided leadership choices with exceptional customer experience alone. To foster sustainable growth, it is necessary to adopt a customer-centric approach and proactively navigate potential challenges with careful and calculated planning.
When people think of personalization, what often comes to mind is a set of emails that are specifically tailored to each customer. But it’s so much more than that.
When done correctly, personalization completely revolutionizes the customer journey by integrating a deep understanding of the customer's individual history and removing any unnecessary repetitions.
Imagine sitting in a doctor's office, clutching a clipboard filled with endless forms to fill out. It's a tedious and frustrating experience, especially when all that information should already be on file. With machine learning and AI, companies have the information to create a simplified and personalized experience.
Embracing the right technology has the power to revolutionize the customer experience, creating a seamless interaction with your organization. Despite numerous technological advancements in AI and machine learning, many organizations are slow to embrace these tools. By analyzing customer-agent interactions, technology can help pinpoint gaps and help leadership determine the right course of action.
However, adopting technology solely for the sake of appearing advanced won't improve productivity or your relationship with customers. Instead, technology should add value and enhance the customer journey. For new technology tools to truly make a difference, your team must fully embrace them. This is why organizations should refrain from hastily adopting new tools without assessing their long-term impact.
Many organizations are recognizing that the key to standing out with customers lies in adopting a CX strategy. However, instead of rushing into action, leaders should take a moment to analyze their consumers' current expectations and not make decisions solely based on short-term brand interests. Are they truly considering the consumer in this strategy? Is the experience personalized for them? And what tools can be utilized to enhance this experience even further? Listen to the episode below to learn more about actionable steps to create a long-lasting CX strategy and to hear about Blake Morgan’s book, “The Customer of the Future.”
More about today’s speaker: Blake Morgan a keynote speaker, customer experience futurist, and author of two books on customer experience. She was called one of the top 40 female keynote speakers by Real Leaders Magazine. Blake is a guest lecturer at Columbia University, the University of California, San Diego as well as adjunct faculty at the Rutgers executive education MBA program. Blake contributes to Forbes, the Harvard Business Review, and Hemispheres Magazine. She is also the host of The Modern Customer Podcast.