Banking Financial Services Hospitality In The News

A 3 Minute Guide to What Modern Customers Want, And How Businesses Can Adapt

Here’s a universal fact, something most of us know but often forget –

Customer experience is the top priority for any business in 2022. This is proven by a survey, where nearly 46% of the participants agreed that customer experience would be their #1 focus in the coming 5 years.

This comes as no surprise – with preferences evolving faster than the speed of the light, businesses have to adapt themselves to the need of the new-age digital customers. But the million-dollar question is, what do these millennials want? Hint: We’ve already given the answer to you.

Yes, it is a ‘Positive Experience’. And the best way to achieve this is again through technology. In this post, we will look at 5 ways through which organizations can adapt to the preferences of the modern-age digital customer with the help of technology.

#1 Improve User-Experience (UX) in Mobile Ecosystem

More than half of the internet traffic is from mobile devices. Clearly, the organizations that identify themselves as customer-centric are focusing on mobile customer experience. Having a mobile app is no longer an option. With the advent of low-code/no-code solutions, it even doesn’t require a massive investment of time and money.

But to make the best use of your mobile presence, it’s essential that your app offers good UX. You can start by making your website responsive. In today’s world, it is extremely easy as most website platforms offer responsive designs. Also, try making the navigation extremely fluidic. Remember – simplicity is the key.

#2 Improve Transparency

If there is one thing that hasn’t changed even after several decades, it is the customer’s expectation of transparency from the business. They hate being in the dark while doing business with you. In fact, 85% of customers stop their business with an organization if they lack transparency.

Things aren’t quite different with modern digital customers. If they find anything suspicious, they will move to the next organization as a new business is available at a mouse click distance. Improve transparency by offering timely information to the customers. Right from their order details (eCommerce) to contract details (B2B), everything should be available 24X7 to the customers. And the best way to do it is by automating most of the processes, as it will save you time and manpower.

#3 Improve Interaction Time

Customers always have questions- Always assume this. They will try to contact you anytime with a query, issue, or complaint. From your end, you have to ensure that the response time is good. Modern customers don’t have time, and they have plenty of options. On the other hand, 72% of customers place higher trust in an organization when they experience a positive customer interaction.

The best way to improve the response time is by using interactive chatbots. These chatbots are programmed to access the database, recognize the context of the interaction, and provide customers with appropriate solutions instantly. For instance, GogglesNMore automated 70% of their customer support using chatbots. Not only do they enhance interaction, but they are also available 24/7, scalable, and efficiently guide customers. 

#4  Marketing Automation

Marketing automation is another important factor that businesses can look into. Global spending on marketing automation is expected to reach 25 billion dollars by 2023. Marketing automation tools not only help organizations to engage with their digital customers efficiently but also help in streamlining the lead generation process.  BMW gained strong customer loyalty with their anniversary email campaign, established with marketing automation tools.

#5  Data Collection & Management

Data collected from customers can offer deep analytical insights on customer preferences. User behavior insights collected from various analytics tools are way ahead in terms of quality when compared to survey-based predictions. These insights help an organization to offer personalized experiences to the customers, which, in turn, can minimize the churn rate.

Conclusion

To cater to the needs of new-age digital customers, an organization needs to adopt automation at a larger scale, covering every aspect of their business.  Customers are changing, and if your organization fails to adapt, it will definitely fall behind in the race and never catch up with your competitors. Book a demo to understand how you can delight your existing customers and gain new ones.

Leave a Reply

Your email address will not be published.