Connected CX: Defining the New Customer Era with Data
Consumer expectations, behaviors, attitudes, and loyalty are continually in flux, causing companies to rethink what it means to be consumer centric. The big question is: how can companies with millions of customers, thousands of employees, and hundreds of systems, understand what it takes to deliver connected customer experiences?
Understanding Where It Started
It’s essential to be clear on what’s driving many of the challenges facing companies today. Digital disruption is all around us. Soaring consumer expectations, new entrants in the marketplace, data privacy regulations, climate change, inflation, and economic uncertainty impact how consumers act, and how companies respond.
The good news is we are coming into this new era with some advantages, including new technology and the possibilities of powerful data. There’s also a new mindset of resourcefulness and empowerment to find new ways to use technology to get things done.
Digital transformation is an opportunity for companies to affect positive differences for consumers, themselves, and their communities. However, connected customer experience goes beyond customer acquisition; it also includes retention, support, and loyalty. So as companies examine their transformation plans, they must look at the entire customer experience.
Affecting Change in the Era of Connected CX
There are three big consumer trends CPGs should look out for:
- Services, offers and processes that affect customer experience and well-being.
- Consumer perception of a brand’s values or purpose (i.e., ethics and responsibility).
- Purchase preferences that center around convenience and price value.
Consumers are aligning their shopping and consumption habits with brands that align with their values. They are also acutely aware that they can use their purchasing power, time, and attention to make companies create the products and experiences they want.
We talk about personalization a lot, and it is happening. But now, it’s about more than just simple personalization; it’s about participation. Consumers want to work with brands to curate, source, and co-create experiences and products. And, consumers have social channels at their fingertips to give their feedback, and spread both positive and negative views of brands.
Making Better Decisions with Data
Companies recognize the need for data-driven decisions, but the progress is slow. For example, a recent Treasure Data study found that companies are spending more time in decision-making processes without evidence that the quality of those decisions is improving.
There are a few reasons for this, such as complexity and disconnected data, and it is leaving companies feeling like they are flying blind. Improvement comes down to organizational readiness, and new ways to think about operational efficiency when it comes to creating value.
- Tie initiatives and use cases to business objectives.
- Don’t underestimate the power of process and organizational change management.
- Look to vendor partners, universities, and the gig economy to help move things along.
- Find new agile ways of working and de-risk experimenting.
- Think about long-range plans and quick-start initiatives that help with buy-in.
In the end, everyone is trying to figure out how to affect change. Empowered consumers, powerful data from across the organization, and new business models, are where companies need to focus their attention to find success. And remember, it’s critical to track value and constantly be improving.
For more insights and examples, check out the full webinar on-demand here.