Execs In The Know- A Global Network of Customer Experience Professionals

Tag Archives: Big Data

Customer Service: Dealing With Increased Expectations

The following post is a guest blog from Inbenta

Two seconds is a long time in the online world. In that time, Google will process around 100,000 search queries, global users will send more than 4.5 million emails, and nearly 60 million Whatsapp users will receive a message.

However, it is not a long time if you are an online retailer. According to a recent study, two seconds is all a customer needs before they give up on your website. The picky customer just got pickier.

The customer is still king

It won’t surprise you that the online market is leaving its high street competitors in the dust when it comes to being the preferred shopping method for customers. What is interesting is that the ‘tech savvy’ Millennials are not the only ones choosing to shop with their feet up.

In fact, according to research from KPMG, Generation X consumers (those born between 1966 and 1981) made more online purchases than any other age group while Baby Boomers (1946-1964) spent more on average per transaction. Putting all your eggs in the Millennial basket might not be such a good idea after all.

This is especially the case when you consider what the different generations of customers value within a company. While 59% of consumers would try a new brand for a better service experience, younger consumers are keen to be treated as unique individuals and so prefer companies which offer personalized promotions and an ability to anticipate what they want. When you have two mouths with different tastes to feed, how do you keep them both satisfied with the same meal?

The obvious solution is to ramp up your customer service team to kill two birds with one stone. The problem is that to maintain your profit margins and pay the extra salaries on your books, you will have to push prices up. Obviously, that is not a wise move in an increasingly crowded market.

Of course, you could decide to accept that you will lose some customers and choose instead to target new ones who are willing to pay a premium for a better experience. But according to the White House Office of Consumer Affairs, it is 6-7 times more costly to attract a new customer than it is to retain an existing one. Continue reading

The Missing Link Retailers Need to Turn a Cost Into a Revenue Generator

O00MGHPXG6

 

The following is a guest blog written by Edward Kowalski, Associate Vice President, Retail Marketing, at Sutherland Global Services. To download a free white paper on the topic, visit  http://www.sutherlandglobal.com/Retail/WP-20160104/Default.aspx

Most retailers are missing a key opportunity. It’s a way to take what’s now an expense and instead use it to build awareness, create loyalty and even grow profits.

It’s customer care.

Companies should combine customer care with customer experience, big data and predictive analytics. It’s a transformation that requires retailers to break down silos and start sharing information that’s widely available.

Consider the constant signals customers provide, based on multiple experiences, with brands across multiple touchpoints. Retail marketers use the information to develop a customer journey that’s seamless, relevant, authentic and omni-channel.

But it’s a missing link that needs to be shared with the customer care team.

Retailers should develop a new system that arms customer care agents with intelligence that spurs personalized engagements. This helps resolve complaints, increase Net Promoter Scores, improve customer satisfaction, create loyalty and, yes, generate revenue.

Here are the steps we recommend: Continue reading