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What does the future hold for CX?

Rob Daleman
Posted by Rob Daleman VP, Corporate Marketing Tuesday, July 11, 2017 - 12:31

Rob brings over 18 years of industry experience in technology marketing – both direct and channel, to his position at Quadient. Previously, Rob led Marketing at Avaya Canada, go to market for medium businesses at Dell Canada and brings marketing, finance, manufacturing and logistics experience from his time at Maple Leaf Foods. An avid composer and musician, Rob continues to combine digital and social media to drive awareness and consideration in the B2B marketplace. Rob holds an MBA from the Schulich School of Business.

Customer Experience Update
What does the future hold for CX?

The field of customer experience is relatively young. The first CX executive was hired in 1999 at Texas Power and Light. Today there are more than 500 officially titled Chief Customer Officers in the world and perhaps hundreds more serving the same role without the formal title.

The proliferation of customer experience executives is supported by facts like these: According to Temkin Group’s ROI of Customer Experience, 2016 Report, customers who have had an excellent experience are more likely to:

  • Repurchase (86% vs. 13%)
  • Recommend (77 vs. 7%)
  • Trust (79% vs. 11%)

The bottom line: the field of customer experience is here to stay. With it firmly established, what does the future hold for CX? We consulted with a panel of CX executives and here’s what we learned.

Omni-channel integration will grow in importance
A few years ago, consumers would have expected organizations to drive communications, but today that is no longer acceptable. Customers are now driving communications, abetted by social media and mobile devices. As a result, a company’s ability to service multiple channels will define how, as an organization, they can deliver services and interact with a given customer.

Customer data modeling will be transformative
The future will be driven by customer data modeling, with predictive analytics and propensity modeling. Predictive analysis will be particularly important as it is the next step in the feedback loop and informs how to target and segment the customer experience. To achieve this, deeper, more detailed data will be a priority.

Analytics will remain a foundational must
CX is not just about capabilities. It is about being able to quantify the results. As such, without question, post-implementation analytics will continue to play an important role.

Legacy infrastructure must be overcome
Consumers want real-time access to manage their data and communications, and hence are really the ones driving what a company offers—or should be. This factor means that enterprises will need to address antiquated infrastructure to ensure they are providing a personalized digital/social solution for customers.

New systems will have to be able to evolve
Solutions replacing legacy systems must be able to scale as the pool of available data and amount of communications channels grow. Doing so will ensure that optimal CX remains a manageable investment. This is of paramount importance as future generations are going to be fundamentally different from today’s consumers.

AI could play an important role
CX leaders are beginning to examine how to integrate their systems with big data and the myriad of sources of customer information. Some see the use of AI-driven processes as a way to allow them to proactively meet the customers’ expectations and, as a result, differentiate themselves more effectively.

Digital channels will continue to grow in importance
Channels will continue to shift from traditional ones, such as phone and mail, to online and mobile environments, as members of the population age. To respond and keep pace, companies will need to minimize old school ways to make it easier for customers to get the answers they want, when they want and how they want.

Social listening will remain a necessity
Social media is a channel where customers will continue to share their experience and knowledge. As a result, social listening and participation will remain important initiatives. Enterprises must be able to identify complaints via negative sentiment to get ahead of problems. They will also need to nurture customers to create fans in the digital and social space who will help the business.

Visibility and insight into every touchpoint
All businesses send emails, call customers and mail letters, but most of them don’t know what they did, or when. Even within a single line of business, marketers frequently don’t know what the last touch was—across silos it’s even worse. If individual departments have poor visibility, imagine how blind the company can be? A higher level of granularity will be required for success in the future. A 360-degree view of the customer, that reveals all the contacts made and actions taken, will be a must.

To gain further insight into what the future holds for CX, we invite you to download these free e-books: Rise of the Customer Experience Executive and The Future of Customer Experience.

Rise of CXFuture of CX