Invest In Customer Experience this Christmas
Post By: Admin
Category: Customer Experience
Why Customer Experience (CX) is important? Is this your question? Well, you must have heard about what Henry Ford, the Founder of Ford Motor Company had said, “It is not the employer who pays the wages. Employers only handle the money…It is the customer who pays the wages.”
Customers are not your direct business partners, perhaps, considering them as the business associates, take the business a long way. After all, a business is nothing without the customers. Now, the question is how does it relate to the customer experience? The answer is prioritizing customer experience leads to happy customers leading to reaching an extra milestone followed with the success of the brand. You might own a business, but thinking yourself to be a consumer would give you better understanding of the significant attributes of CX. For an instance, would you like to be replied by a bot to your emails? Probably no. A personalized message addressed with your name drags your attention, and you feel attended. So do the 70% of customers. Customer Experience in the new age shifts from a “customer focused” to a “customer committed”.
When talking about the retail landscape, Indian Retail Industry is among the top five retail industries of the world, and is the most talked about. Owing to the different culture of the nation, shopping is a must, every second phenomenon, accounting for the 10% of GDP of the country.
How do the retailers prepare for the big sale?
When the festivals are around the corner, retailers are in full swing to tap the opportunity with tight preparations. Ranging from new product launches, to new tie-ups, staffing up and cleaning up, decoration, enormous supply of product, promotions advertisements, festive hampers, pop up stores and many more are part of the preparations. Cygnus Jewellery decorated the store keeping the festive spirit of each customer in mind. On the other hand, Godrej Nature’s Basket brought in 23 different types of hampers with various themes. These exciting offers not only appeal the customers, but add up to the customer experience as well. Amazons’ festive sale and Flipkarts big billion sale all prepare in advance to deliver products to happy festive shoppers across the country.
However, during the rush seasons of the year the Indian retail industry face some critical CX challenges. Decades back, the Indian population was happy with bare necessities. The advent of technology, retail digitalization, demand of luxury, high disposal income, plastic money and shopping culture of the west, has however, transformed the demand elasticity. The major challenges include lack of unique products, choosing the proper product mix, because every second retail store is tied up with the same suppliers and vendors, managing the inventory to meeting the huge demand of the Indian shoppers. As James Dodkins, CX Revolutionist, Keynote Speaker and Author, says that the major challenge is to meet all the customer demand in “industrial age organization structure” wherein “customer experience” was never designed to be a part of the structure.
The demand gap is topped up with uneducated staff and co-coordinators who fail to guide the end consumer through the various ranges of products, poor return policies - because the store executives are reluctant to help the customer to return or even exchange a product. The reason behind this is that they believe in “make money first” approach leading to an inconsistency towards end-to-end CX in the Indian retail scenario.
Omni-Channel Silos - The New Age CX Amplifier
Omnichannel experience is the merger of internal and external communication to deliver a proactive and efficient CX. The aim is to create seamless and hassle free engagements across the connected channels made up of “individual touchpoints” to encourage a positive end-to-end customer journey. The customers are now allowed to start from the point where they left in one channel while at the same time can continue with the experience on the other channel. The conversation is made possible to hop from web-chat to phone to social media platforms. A research by the Salesforce suggests that 75% of the consumers look for a strong, continuous and just in time CX through omnichannel – be it on mobile, social media or in-person, and this persuades their buying decision. In other words, onmichannel is a revolution against the dominance of the “burgeoning marketplace.”
According to a research conducted by the Aberdeen Group, companies with strong omnichannel CX strategies have successfully retained 89% of their customers as compared to the companies with weaker game plans.
TataCliQ had tied up with Unicommerce to enhance the omnichannel potentials for the brands to drive higher sales that are registered with the TataCLiQ. The company introduced “phygital”, the first retail omnichannel experience in India.
Pepperfry relied on omnichannel – online furniture marketplace combined with offline stores - to escalate their sales. In the year 2014, the company launched a “brand concept store” Studio Pepperfry in order to render a “wow” experience zone for their customers.
The Zendesk Benchmark Report, in which 45,000 organizations participated from 140 countries to know the importance of omnichannel over other single or multichannel. The report says that Omnichannel helps in better CX and that many B2C companies have already adopted the omnichannel to support their “customer first” strategy and received valuable reviews.
Customer 2020: A Progress Report released by Walker in 2013, predicts that customer would overpower the products and its price and would be the foremost “brand differentiator” by the year 2020.
Thus amid the fierce competition of brand and business meeting the customer expectations and commuting with the omnichannel technologies are major conundrums. Yet the solution is not just quality products and lucrative offers and discounts, but a top-notch and unique customer experience through seamless omnichannels. So clear the decks, as CX is the succeeding “competitive battleground” for business, you sink, or you swim.
TAGS: Customer Experience