Sprinklr Launches More Than 700 New Features for Unified Customer Experience
Sprinkler new release integrates with Vertex AI and GPT, offering 700+ features to elevate analytics and customer service for 1,400+ enterprises.
How it’s done
Drive Higher Conversion and Increased Loyalty by Delivering Seamless E-Commerce Customer Experiences
Seamless omnichannel experiences are crucial in e-commerce for building trust and loyalty. A PwC survey indicates over 50% of customers are less loyal if online shopping isn't easy. Key elements include real-time inventory management, streamlined checkouts, and robust security. Analytics and A/B testing are advised for continuous improvement.
How to cut costs with delivery
Third-party delivery platforms are a "necessary evil" for restaurants, especially since COVID-19, but come with hefty fees and other challenges. Restaurants can save up to 30% by encouraging first-party orders, as per Anderson. Cost-saving strategies include streamlined packaging and using robots for short-range deliveries, according to panelists at the Interactive Customer Experience Summit.
How Brands Can Improve Product Support While Enhancing CX
Improving product support is crucial for boosting customer lifetime value (CLV) and reducing turnover. A balanced approach between automation and human interaction is essential, as 86% of consumers prefer human staff. Effective product support can yield high customer satisfaction rates, such as a 95% score with 90% of cases responded to in under 15 minutes. Challenges include resource allocation across multiple channels and scaling operations without sacrificing quality.
How to create seamless customer journeys with generative AI
71% of consumers expect personalized interactions, and 76% get frustrated when brands don't deliver. Generative AI technologies like chatbots can meet these demands, but the key lies in data integration. IT leaders must ensure accurate, organization-specific data feeds into GAI tools to enhance customer experience and maintain brand trust.
How To Deliver A White Glove, "Wow" Customer Experience
Strategically incorporating AI in customer service can improve response times and enhance personalization, while human agents add the "wow" factor through emotional connections. Metrics like NPS and CSAT measure effectiveness. Combining AI with a human touch optimizes customer experience, fosters loyalty, and positions the brand for growth.
Headlines & Launches
Foot Locker steps up customer experience via InMoment feedback analytics tech
Foot Locker adopted InMoment's Spotlight technology to unify and analyze customer feedback, which was previously fragmented across multiple platforms. Since its 2023 deployment, the system has eliminated data silos, streamlined customer experience improvement, and aided in reducing churn. Spotlight enables Foot Locker to identify and rectify negative customer experiences, contributing to an improved bottom line.
Sprinklr Launches More Than 700 New Features for Unified Customer Experience
Sprinklr's latest platform release, 18.8, integrates with Google Cloud's Vertex AI and OpenAI's GPT, offering over 700 new features across customer service, insights, marketing, and social media. Serving 1,400+ enterprise clients, the update aims to boost productivity and quality of insights. Key features include AI-powered dashboards, generative AI for analytics, and real-time video commerce in customer service.
Citibank tops Forrester's 2023 Singapore Customer Experience Index, marking its second win in three years. Focused on exceptional omni-channel service and customer feedback, Citibank previously won Singapore's Best Customer Service Award in 2022. The Forrester survey involved 2,632 respondents, with 1,801 interacting with banks.
Air India Becomes The First Indian Airline To Add Self-Bag Drop For International Flights
Air India becomes the first Indian carrier to offer self-bag drop for international flights at Delhi's Terminal 3, aiming to reduce check-in waiting times and stress for passengers. This expands on Delhi Airport's initial domestic self-bag drop launched in June. The move aligns with Air India's 'Project Abhinandan,' focused on enhancing on-ground customer experience.
Miscellaneous
Customer Experience Technology: 5 Considerations Before Buying
When selecting customer experience technology, five key considerations stand out. Scalability is crucial, given that 77% of businesses expect to grow in the next two years. The underlying AI, often driving tools like chatbots, must be scrutinized as 60% of customer interactions are expected to be automated by 2025. Data privacy is imperative, with regulations like GDPR affecting over 90% of businesses globally. The industry is rapidly shifting towards customer engagement centers, a transition that yields immediate benefits according to Gartner. Finally, integration capabilities are vital, as 70% of companies operate with complex tech ecosystems. These factors guide informed decisions for present needs and future challenges.
Why Should Startups Focus On Customer Insights?
In the rapidly evolving Indian startup landscape, where only 8% of ventures survive beyond a decade, the key to longevity lies in listening to the customer. Over 90% of startups fail within 10 years due to an 'inside-out' mindset that neglects customer feedback. Prioritizing customer insights can transform a startup from a mere product seller to a brand with a loyal following.
3 reasons why customer journeys are the key to better experiences and profits
Adopting a journey-centric approach can result in substantial payoffs for organizations. Forrester's research shows that better customer journeys can increase customer advocacy by 20-40% and decrease costs by 15-25%. Furthermore, such an approach can enhance customer retention and boost revenue by 10-20%, according to analyst Joana de Quintanilha.
7 ways companies are using generative AI in customer experience
Generative AI is increasingly powering customer service and engagement. PolyAI's voice assistant resolves over 50% of customer calls, while PhonePe's Freddy AI handles 80% of customer queries. Meanwhile, Fifth Third Bank reduced call volume by addressing login issues identified through AI analysis. These advancements span sectors from financial services to retail, particularly in the US, China, Canada, and the UK.
Unlocking Untapped Potential: Maximizing Revenue Through Customer Experience
Brands excelling in customer experience (CX) generate 5.7 times more revenue and can see up to 10% revenue growth and 25% cost reductions within 2-3 years. Customers with the best past experiences spend 140% more. Knowing Customer Lifetime Value (CLTV) is crucial for optimizing spending on CX improvements. Personalization can drive 40% more revenue growth. Tracking key performance indicators like CLTV and revenue growth is essential for assessing CX effectiveness.
10 CEOs Customer Experience Leaders Who Work On The Front Lines
CEOs directly engaging with customers and frontline employees can significantly improve customer satisfaction and gain competitive advantages. For example, Starbucks' CEO works as a barista one half-day a month to understand customer needs, while Uber's CEO became a part-time driver to identify app glitches and improve user experience. This hands-on approach provides invaluable insights for customer-focused decisions.
A Game Plan for Generative AI in Customer Experience & Marketing
Generative AI is transforming customer experience and marketing by enabling personalized interactions and automating processes. According to the 2023 State of AI Report by HubSpot, it's produced over 100 billion pieces of content. Grammarly saw editing times reduced by 60% and a 17% increase in customer retention. However, 80% of companies haven't adopted a comprehensive strategy for AI usage. Risks include misinformation and bias, with two-thirds of consumers concerned about AI discrimination, per a Gartner study.
3 Books To Amplify Your Customer Experience
Three key books—Hodak's "Creating Superfans," Minton's "Thanks For Coming In Today," and Heath & Heath's "The Power Of Moments"—guide businesses in enhancing customer experience. Hodak focuses on emotional loyalty, Minton on employee empowerment for customer service, and the Heaths on creating memorable moments. These approaches are crucial for brand loyalty in today's "experience economy."
Great customer experience needs great AI
In 2023, AI has reached a critical turning point, significantly impacting data processing, efficiency, and customer experience across industries. Andrea Cook highlights AI's potential to hyper-personalize customer journeys. Her agency used AI for BMW, creating a gamification platform that identified 55,241 U.S. driving routes resembling BMW's "Hofmeister Kink" design. However, risks like data bias and privacy issues remain, calling for balanced experimentation and governance.
The Key to Building Unshakeable Customer Relationships
Customers want experiences, not just transactions. Micro-moments—brief, impactful interactions with a brand—can drive loyalty and offer significant ROI. Leveraging emotional triggers, dynamic personalization, and data analytics in these moments is essential for long-term customer relationships. Ignoring them risks lost revenue and loyalty.
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