CX Week #40: 90% Companies Will Require Employees To Return To The Office
9 out of 10 of companies plan to return to the office by 2024, with only 2% not requiring in-person work
Insights and AI 💡
Service Providers in Australia Incorporating AI into Customer Experience Strategies; Reveals ISG
The 2023 ISG Provider Lens™ report for Australia highlights the impact of remote work on customer experience (CX). CX is a critical metric, and contact centers are evolving into intelligent CX hubs. Many Australian companies adopt remote work models, creating workforce and security challenges. Cloud-based contact centers are favored for crisis readiness. However, attempts to improve CX by repatriating voice services during the pandemic were costly and unsuccessful. AI and ML-driven analytics tools are essential for understanding customer needs from diverse data. Australian consultants help optimize AI for handling this data.
How to Use AI to Drive Growth and Improve Customer Interactions
Artificial intelligence (AI) is reshaping marketing and B2B user experiences. AI automates tasks, analyzes data, and offers personalized recommendations, enabling data-driven decisions. It enhances customer experiences, boosting satisfaction, loyalty, and retention. Predictive analytics helps identify customer churn indicators, allowing for personalized incentives to retain at-risk customers. AI-driven features offer a competitive edge in the digital landscape.
Gen Z views AI as e-commerce booster
A Rokt and Harris poll study found that 88% of Gen Z consumers believe AI will enhance online shopping. Gen Zers globally are interested in AI assistants that simplify product discovery and anticipate their needs (55%), augmented reality and virtual reality shopping experiences (51%). They expect AI to improve online shopping by making price comparison easier (47%), finding deals (45%), receiving relevant offers and product suggestions (41%), getting personalized assistance (37%), and finding reviews (28%). Personalized experiences are crucial, with 20%-29% of consumers walking away from their cart or the brand if the shopping experience doesn't feel personalized.
The 10 Biggest Business Trends For 2024 Everyone Must Be Ready For Now
In 2024, amidst a global economic downturn, key trends include the widespread adoption of generative AI strategies, the need for soft skills alongside automation, addressing the skills shortage, sustainable business practices, personalization-at-scale, monetizing data, enhanced customer experiences, remote work, diversity and inclusion, and organizational resilience. These trends reflect the evolving business landscape, with generative AI as a standout area of focus.
How it’s done ❓
The future of insurance claims: How automation and AI are enhancing customer experience
Inefficient claims processes can lead to customer dissatisfaction and prompt them to consider switching insurers. Over 85% of frustrated claimants have contemplated changing insurers. To retain customers and enhance their claims journey, insurers should focus on clear communication, personalization, and streamlined processes using AI-powered automation solutions like Ushur. Automation removes repetitive tasks, allowing claims adjusters more time to assist customers. A positive claims experience positively influences customer perception and loyalty.
Brands need hyper-personalized customer experiences to stand out in today's digital marketplace. Prioritizing first-party data over third-party data, considering privacy concerns, is crucial. Acoustic Connect offers behavioral experience insights, deepening marketers' understanding of customer interactions. In the evolving marketing landscape, scalability and data-driven strategies are vital for future-proofing operations.
Total experience transformation: Five strategies for a seamless customer and employee experience
Employee experience (EX) significantly impacts customer experience (CX), with top-tier EX companies increasing revenue and profits by about 50%. To enhance both, organizations should adopt a Total Experience (TX) framework that integrates customer, product, and employee experiences. Key steps include gaining executive buy-in, connecting all employees to the customer journey, making data-driven decisions, balancing CX and EX, and optimizing impactful moments using technology effectively. Achieving this alignment can lead to increased revenue, profits, and customer and employee satisfaction.
Omnichannel Customer Journeys: Unlocking the Future
Omnichannel customer journey strategies are evolving to prioritize personalization over mere consistency across platforms. AI plays a pivotal role in enhancing these strategies by facilitating seamless and personalized interactions. This approach leans heavily on customer data to drive meaningful engagement, thereby fostering loyalty and satisfaction. Unlike multichannel strategies that emphasize consistent messaging, omnichannel focuses on tailoring experiences based on individual customer interactions across various channels.
Modernising Customer Communication is key to Improving Customer Experience
The digital age demands exceptional customer experiences (CX), necessitating fast, accurate, personalized communication. While sectors like insurance and banking face the challenge of balancing innovation with security, digital transformation, supported by open APIs, can help. Agile customer communication management (CCM) platforms that seamlessly integrate with back-end systems are key. These platforms should provide customer-facing, employee-facing, content, and platform solutions, enhancing CX by delivering personalized experiences, accumulating data for decision-making, and streamlining communication processes.
Headlines & Launches 📰
PartnerHero acquires ElevateCX, a leading customer experience community and events series
Tech-enabled outsourcing company PartnerHero has acquired ElevateCX, a community and event series for customer experience leaders. ElevateCX founder Sarah Hatter has joined PartnerHero as Senior Director of Community and Events. ElevateCX has organized 40 global events, fostering lasting connections among attendees. PartnerHero will maintain ElevateCX events, starting with one in Atlanta on October 12-13, 2023. Hatter will also be involved in leading the CX Heroes community. The acquisition allows PartnerHero to enhance its customer experience offerings and community engagement.
ZIPS Names Donaghy as Chief Marketing and Customer Experience Officer
ZIPS Franchising LLC has appointed Mary Ann Donaghy as Chief Marketing and Customer Experience Officer. With three decades of consumer marketing experience, Donaghy will focus on enhancing ZIPS' brand through an exceptional customer experience. She brings a strong data-driven marketing background to the role, which will be vital as ZIPS adapts to changing consumer behaviors. The appointment reflects ZIPS' commitment to growth, innovation, and data-driven decision-making.
Interesting Reads 🌍
Nine Out Of 10 Companies Will Require Employees To Return To The Office
According to a survey by ResumeBuilder, 90% of companies plan to return to the office by 2024, with only 2% not requiring in-person work. Remarkably, 72% of companies believe that returning to the office (RTO) has positively impacted their revenue, while 28% are willing to threaten employees who don't comply with RTO policies.
Image source: Unsplash
The move back to the office started in 2021, and for those planning RTO in 2024, 81% anticipate improved revenue, 81% expect enhanced company culture, and 83% foresee increased worker productivity. However, there's concern about losing employees in a competitive job market due to a rigid return policy.
Personalized Customer Experiences Are Important—But Not At The Cost Of Data Privacy
To deliver personalized customer experiences, retailers rely on customer data and technology, but the rise in cyberattacks, with a 38% increase in 2022, poses a significant threat. Retail is a lucrative target, with the average data breach cost at $3.28 million. Retailers can enhance security by using accredited partners and tokenization to protect sensitive data. Cybersecurity training for employees is essential in combating phishing attacks. A secure foundation not only safeguards against threats but also builds trust with customers, leading to better long-term relationships and success.
The future of customer experience lies in intelligent adaptive messaging
The future of customer experience (CX) is in personalized, product-centric approaches, emphasizing post-sale engagement. Intelligent adaptive messaging aids customers with timely information, enhancing retention and customer value. Purpose-built platforms automate product ownership experiences, fostering brand loyalty and providing valuable insights for marketing and product development. Personalized CX is now a necessity for thriving businesses.
Previous weeks read:
CX Week #39: Majority of US consumers are willing to trade personal data for deals
CX Week #38: Sprinklr Launches More Than 700 New Features for Unified Customer Experience
CX Week #37: How to use customer experience data to inform strategic planning
CX Week #36: The 10 Best Examples Of Proactive Customer Feedback
CX Week #35: How Customer Experience Drives Recurring Sales?
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