The rising focus on the customer experience is parallel with the rise of consumer research and customer empowerment. “Customer experience” has become a nice catchall word for many technologies, solutions, and concepts.
In the race to provide the best and most unique customer experiences, many businesses have lost sight of the ultimate reasons to invest in creating valuable experiences for their customers. Three main reasons stand out:
- To achieve sustainable business growth
- To create customer loyalty and commitment
- To increase company profits
While these are good reasons, there are 3 myths that hamper the process of creating great customer experiences.
Myth 1…Investments in big data and IoT will deliver better experiences.
As a Customer Experience professional, you hear it all the time: CX is all about the data. Without data, experiences can become anonymous, irrelevant, and time-consuming for customers which in turn negatively impacts your business.
Rather than focusing on data that you have, you should also focus on offering and create an experience that runs parallel to the offerings, mission, and vision of your company.
Myth 2…Investments in automated or digital channels, like chatbots, will reduce the cost of service.
Naturally, digital channels allow consumers to seamlessly switch back and forth between unique combinations of preferred channels. Not only do customers engage more, but they are now engaging on more than one channel–both digitally and traditionally.
Relying solely on automated channels, however, reduces the human connection in your experience offering.
Myth 3…Investments in CX are best measured using the net promoter score or NPS.
The Net Promoter Score provides a sense of how likely customers are to remain loyal and recommend your brand to others. It’s the primary measurement of likeliness to create brand ambassadors or detractors.
While this is one primary estimate, there are many others that should be taken into consideration to gain a holistic view of the experience being created.
Today’s CX requires business transformation and innovation. To understanding customers better, a business must understand itself better and be able to measure changes in customer behaviour and business decisions effectively.