Crafting a successful Customer Experience (CX) extends beyond simply delivering products and services your customers desire in a timely and efficient way. It entails forging meaningful connections with them to cultivate their loyalty and encourage repeat business. The question today is- What are the significant "moments that matter" for both customers and business? In what ways can organizations personalize their customers' experiences to cater to their specific needs?
To shed light on the topic, prominent technology and IT leaders representing diverse industries, including finance, logistics, and others, participated in a captivating boardroom discussion on 23rd June 2023 in Udaipur, hosted by TechCircle in association with Ozonetel.
Atul Sharma, Cofounder & CTO, Ozonetel and Sagar Rane, VP- Sales, Ozonetel chaired the event with Shalil Gupta, CBO, Mosaic Digital & Mint, An HT Media Group company.
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Today organizations face enormous challenges: increased call volumes, employee attrition, and race to meet customer needs with newly-emerging technology. Add to this the heightening increase in customer expectations, and the mounting pressure on them becomes evident.
When asked about these challenges, an IT leader from a top insurance company highlighted how leaders today must effectively prioritize investments in the people, operations, and technology dimensions of their CX strategy. The hurdles they face include risks associated with scaling, and a lack of customer-centric vision. According to him,most digital solutions are yet to fully deliver on their promises.
Adding to this, another technology leader quoted that in today's evolving landscape, the boundaries between digital and live interactions have become increasingly blurred. As a result, organizations are actively seeking ways to enhance both the customer and employee experience during pivotal "moments that matter." These moments, which were historically characterized by in-person interactions and held significant impact on the overall CX, now demand renewed attention and the implementation of advanced enhancements.
Drawing from his own experience, Atul Sharma offers insights into the hurdles of prioritization and prompt decision-making. The speed at which businesses must operate makes it difficult to identify the right areas to focus on and hinders their ability to choose an optimal course of action. Failing to invest in critical areas exposes companies to the risk of talent attrition, customer discontent, and potential loss of market share. Only a handful of companies have successfully deciphered the code, grasping two crucial aspects: 1. Understanding the genuine desires of the customer and 2. Effectively influencing them to align with your desired outcomes.
Taking it forward, Sagar Rane emphasized that although some companies perceive themselves as making considerable advancements in their customer expectations transformation, many still operate at a foundational level. These organizations are primarily focused on enhancing self-service options and automating routine inquiries, but are yet to progress sufficiently enough to differentiate themselves from competitors. To truly stand out, it is crucial to establish influential relationships and touchpoints for mass personalization, ensuring seamless integration of digital channels. This capability enables the creation of unique value propositions and serves as a key differentiator.
Summarizing the discussion, leaders acknowledged a shift in perception regarding technology capabilities. Previously, there were perceived limitations, but now organizations have access to a wide range of technologies and analytical approaches that drive positive outcomes in customer journeys. This includes the utilization of natural language processing (NLP) and artificial intelligence (AI) for handling simpler customer queries. With these tools at their disposal, organizations can leverage the full potential of technology to achieve successful results.