Customer experience (CX) is often defined as the perception customers have of how they are treated by the companies they interact with. Optimizing CX is a top priority for many businesses as good CX generates positive feelings and emotions, which in turn affects customer behavior and increases loyalty. It also helps businesses to stand out against competitors. Especially in industries that are heavily regulated, CX is rapidly becoming a more important differentiator than product or price. Research firm Econsultancy’s survey among 14,000 global marketers and ecommerce professionals found that optimizing customer experience is the top priority for 2017.
Quadient believes customer communications are at the heart of customer experience. Our clients confirmed having good control over communications enables them to have consistent, relevant, and bi-directional conversations with customers through their channels of choice, which is beneficial to serve them better, or to sell more. To create meaningful interactions that improve the customer experience, it is important to fully understand the customer, as well as the context in which the conversation takes place. The rise in customer experience requires a new approach that challenges the status quo.
The necessity of a new approach
As companies look to compete in today’s customer-centric world, they are facing 4 foundational forces:
1. Consumer Power. People share their negative and positive experiences about your brand faster and more widely than ever before.
2. Communications. With a growing number of channels – you need to engage with your customers via the channel of their choice in real-time.
3. Regulations. Highly regulated industries face an even larger challenge – how do you better compete with demanding business mandates while maintaining regulatory compliance?
4. Data. How do you effectively use the ever-expanding amount of data that is available to you to deliver better, more targeted experiences for your customers?
The rise of empowered consumers, new technology, regulation, and data is forcing companies to respond to those new market realities. Optimizing customer communications with a goal of building better experiences requires companies to overcome four specific challenges. Those are: managing complexities, overcoming siloes, defining and managing CX strategically, and managing physical communications alongside digital for true omni-channel deployment.
The current CX solutions landscape is technologically fragmented and generally not built with customer communications in mind. Many CX solution providers are start-ups that operate opportunistically without appreciating the complexities around regulatory intricacies, dismiss the importance of sending physical communications alongside mobile and digital experiences, or will not have the financial backing of a larger parent organization that provides trust, investment, and commitment in the longer term. A complex technology ecosystem makes it challenging to build good customer experiences.
While technology is only one part of the equation to build good customer experiences, it is a very important one. Good, easy-to-use software helps businesses to create simple yet powerful experiences across channels and touch-points. Modern technology enables teams to own and manage communications themselves, raising empathy because they intrinsically know more of what customers prefer, and are much faster to respond than large IT teams. Modern technology also helps to visualize touchpoints and communications, which helps various teams to come together and overcome organizational siloes. And finally, modern software that is developed with regulatory standards in mind, helps businesses to stay compliant at the lowest possible cost.
At Quadient, we provide customer experience solutions that allow our clients to create and deliver meaningful interactions with their customers. By offering proven industry-leading technology we enable organizations to create better experiences through timely, optimized, contextual, highly individualized, and accurate communications across all channels. Our technology provides authoritative insights and visibility into the customer journey across all touchpoints, helping organizations understand what matters most to their customers, and activating a customer experience mind-set across the organization.