The new order of customer experience management

Talking about CX trends reminds me of a conversation I had with someone recently. For this discussion, let’s call this person John.

John is a senior management professional and we work very closely in professional domains. He told me how he had recently bought a car – it was an online purchase with home delivery and did not even require him to step out of the house.

Before completing the purchase, John did his research online and contacted the potential brands, took a test drive and then decided on a particular make of car. The manufacturer complied with the few additional features he requested, although the core design did not change. The paperwork was completed and the car was delivered to John’s home.

The whole process was completed within a week.

This instance well illustrates the emergence of the new order of customer experience management and predicated on this, we can state a few expected CX trends for 2023.

Customer experience will be a differentiator

A study by RightNow has shown that 86 percent of customers are ready to pay a higher price for a better customer experience.

Taking the above example, John’s decision was based totally on how well the brands were responding to his queries and needs.

Omnichannel experience

The International Institute for Management Development (IMD) has said that missing the omnichannel experience can see a brand lose between 10 to 30 percent of sales. At the same time, omnichannel marketing company Omnisend found that the use of more than three channels can increase a company’s sales by more than 494 percent.

Quoting the above example, five channels worked seamlessly to deliver the car to John on time – sales, showroom, finance, manufacturing and after sales.

Hyper-personalization

In his novel, The New Age of Innovation: Driving Cocreated Value Through Global Networks, C K Prahalad described the concept n=1, which says that each customer will ask for a product different to those requested by other customers. With digital innovation, this has become prominent already and will follow a sharper curve in the near future. Taking the above example of the car, even the manufacturer agreed to comply with the basic changes required by the customer.

Quick links

The 8 biggest CX stories of 2022

Three customer spending trends to watch

Proving ROI in CX: a step-by-step guide