If you’re keeping up with the technology trends in the customer experience (CX) space, you’ll notice that Artificial Intelligence and Chatbots consistently being hyped up.
How important is customer experience (CX)? According to a report from the Temkin Group, an organization with $1 billion in annual revenue can achieve an average revenue increase of $823 million per year with only a moderate increase in customer satisfaction.
The contact center is constantly evolving.
Customers are the chief drivers for business. Without them, operations simply wouldn’t exist. Having top-notch products and services along with a way to effectively market them is how you’ll attract customers but when it comes to retaining them, both customer service and customer experience management have a huge impact on their loyalty.
When it comes to selling both B2C and B2B products and services, customer experience is rapidly becoming the deciding factor for buyers. In fact, according to the research firm Walker in its study “Customers 2020,” within the next two years, it will overtake products and price as the most important differentiator of a brand.
Customer experience (CX) is how brands have to differentiate themselves today. It’s what ultimately matters not only for attracting new customers, but also for customer retention. After all, it is far more difficult and expensive to find new customers than retain the ones you already have. While there are several aspects of CX that come down to user experience and customer service skills, today CX is also largely driven by data science.