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It's no longer enough to sell a product or service. In order to thrive in today's market, you've got to create memorable experiences for your customers.
Venerable parka retailer Canada Goose gets it. The company recently went all in on an experiential experiment when they opened "The Journey: A Canada Goose Experience" in a
The immersive store that's not a store (shoppers can try on limited stock, browse digital catalogues, and order products to be delivered) is designed to immerse consumers in the ethos of the brand.
It's a daring execution of an ingenious concept that more brands are understanding is critical. Competing on price alone will not work anymore.You've got to design the conditions for brand loyalty. Companies are rising to the top by differentiating with customer experience.
In 2020, we can expect an explosion in the experience economy. Here's what your brand can do to participate.
Harness emotion at scale
We know that one of the best ways to get and keep a customer's attention is to stimulate a positive emotional response.
Many brands are building in customer-centered thinking when designing customer journeys, from first interest to engagement to acquisition and beyond.
By using data to understand how and why customers behave at each step, organizations can create a relevant and delightful experience. This is purposeful CX design that is both art and science. And it's one that both B2C and B2B companies can employ to engage and unlock the right emotions at the right time.
Use high-performing CRM infrastructure
To create an engaging experience, you need the right foundation to underpin it all. With high-performing software, you can use the power of machine learning to provide a seamless experience for customers. Data is critical to understand, predict, and manage customer journeys. And you want a CRM platform that can facilitate a natural conversation with a customer no matter which employee or department is engaging with them. It should allow you to easily share data and be flexible and agile enough to quickly implement any CX innovations you dream up.
Here's an example: The Four Seasons wanted to ensure its guests had the ability to send messages on their preferred channel and in their preferred language. Through
Ensure CX is a team sport
In the experience economy, the lines within companies are starting to blur when it comes to the internal functions that engage with customers. The truth is, CX is a team effort where many roles have a position to play. The key is using data and analytics to understand where customers are in their journey and to trigger the right engagement so the right player on the field can take the ball at the right time.
Two areas that have the highest touches are customer success and sales teams. They need to work in synchronicity to contribute to outstanding customer experience—and capitalize on cross- and upselling opportunities. For example, a good ticket workflow will have a record of customer success staff engaging positively with customers which may spark a sales lead. Sales can use this relationship to foster a different conversation with the same customer. This is a tailored experience built on rapport and trust among an entire team.
Use CX to evolve the brand or branch out in innovative ways
With a system to provide fluid customer service across departments, the customer no longer has to be concerned with calling “support”, “sales”, or “service”. A powerful CX function puts the customer at the center, allowing them to have an effortless customer experience. Technology is what directs them to where their requests need to be orchestrated, not their own research on the company.
When businesses master a seamless customer experience, they are free to expand their services using the strong brand affinity they've already established with their customer base. We see this as ride hailing businesses branch out into food delivery, banking, and other services. Customers who have a strong basis of trust with a company are willing to engage with them in a variety of ways. CX is an exciting way for a brand to evolve and expand.
Invest in AI and bots for self-service
It wasn't long ago that the idea of employing bots for customer service was inconceivable. Critics considered it impersonal, clumsy, and incapable of delivering personal attention. That was then, this is now. The latest iterations of bot engagement have improved dramatically and we're seeing new generations of consumers embrace self-service to an extent even we in the industry had not anticipated.
Many consumers are looking for fast solutions. Automation and bots are able to anticipate customer needs, leverage machine learning to address those needs, and provide automated resolutions with an interface that still reflects the tone and style of the company. While customer service agents are still vitally important, many people prefer speed over human interaction. We're going to see more organizations employing both in 2020.
The bar is high for 2020
The expansion of the experience economy is even spreading to unlikely industries where regulatory restrictions have long blocked ingenuity. Yet, somehow, fintech and health care companies are coming into existence based purely on experience-driven offerings. Newer banks such as
Ingenuity like this is happening in a number of industries and I believe there's more to come. We know that customers are now comparing every interaction with a company to the best experience they ever had. This is one area of customer service that has the potential to make or break a company's competitiveness.
What will your organization do?
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