Hansa Cequity unveils Customer Experience Trends Report 2019

26 Nov,2018

By A Correspondent

 

Hansa Cequity has released its latest report on customer experience at its recently concluded annual event – Customer Centricity World 2018. The conference brought together thought leaders from the field of marketing who participated in engaging conversations on evolving consumer dynamics, demands and expectations and the need for organizations to build a more customer-centric culture.

 

The flagship event saw the presence of Dr. V Kumar, Regents’ Professor of Marketing at Georgia State University 12 time lifetime achievement award winner for expertise in Customer Life Time Value & Customer Relationship Management; Professor Kamakoti, Chair of the Taskforce on Artificial Intelligence under the Government of India; Srinivas Uppaluri, ex-global marketing head of Infosys and Manish Dureja, Managing Director, Jet Privilege among many others.

 

The report titled ‘Customer Experience Trends Report 2019’ highlights the increasing use of technology by organisations to increase their customer experience. Conversational Artificial Intelligence (AI) enabled products and services are becoming a real world phenomenon as technology and human touch come together to create moments of magic for customers.

 

With several brands vying for the ever- shrinking attention span of customers, brands will need to create powerful content to build an engaged and eventually loyal customer base. Meaningful engagement thus is no longer about the time spent but rather about creating carefully crafted content which is well targeted across all platforms. Ephemeral content plays a key role in this sphere as it allows customer engagement and creativity.

 

Said S Swaminathan, CEO and Co-founder, Hansa Cequity:  “We observed that Customer Experience (CX) has become a boardroom agenda and organisations are leaving no stone unturned to up their CX quotient through innovative use of technology. However, it is critical that organization departments from front end sales to back end developers must align with a common CX goal. Companies need to focus on having a synergy between Data, Analytics, Technology, Digital, Product, Marketing, Sales and Customer Service teams and provide a unified customer experience.”

 

As per the research conducted by Hansa Cequity Application Programming Interfaces (API) will play a key role as a revenue driver for brands. Riding on API economy will require a radical shift in thinking where organizations will have to focus on creating superior experiences and not operations and applications. Organizations will need to have a seamless integration of APIs with their business goals thus creating superior customer value.

 

Another trend that has been a gamechanger in marketing is the emergence of conversational chatbots that understand human emotions and languages and serve as a digital companion to consumers. 80 percent of companies surveyed plan to launch their own chatbot by 2020 to enhance customer journey. To harness the benefits of conversational chatbot organizations will have to integrate them with back end inventory management, customer support & loyalty and transactional systems. This will provide consumers with a personal, relevant and enhanced customer experience.

 

The report highlights the rise of hybrid ecosystems wherein marketers will need to look at offline and online commerce as one channel and provide seamless experiences to consumers irrespective of the platforms. Clearly defined value propositions are a must for increasing customer loyalty and to ensure that customers become brand loyalists and advocates

 

 

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