What is Customer Experience likely to become by 2020

What Customer Experience is likely to become by 2020

CloudCherry | Featured | October 10, 2016

One aspect of any business that is receiving more focus and spotlight than expected is Customer Experience. We’re in the era where designations, practises and events are coming up centred around Customer Experience. All this to understand today’s demanding set of customers, and win over their loyalty.

So, what can we expect in the future regarding customer-centric strategies and policies? How is Customer Experience likely to shape up by 2020? We have Jerome Rouch, Head of Retail (SEA) at Puma, Neha Saxena, Head of CRM at Charles & Keith and Amran Khamis, Head of Regional Experience Design at Great Eastern Life Insurance Company discussing Customer Experience in 2020 at the Dialogues On Delight event in Singapore.

Key Takeaways:

1. In 5-10 years, customers are likely to be more informed and demanding. This is a straightforward outcome of more number of brands competing for the same customer. Also, the retention span of customers is likely to diminish further and with the varied choices in the marketspace, loyalty could also suffer.

2. The customer is becoming a lot more impatient. Customers want brands to anticipate needs, be proactive about service, and not just deliver whatever expected.

3. Customers would also expect companies to be more emotionally intelligent by 2020. And Customer Experience could transform into something more about the whole business environment – people, process, product and tech combined – and not just about the product/service. It is going to be about moving the customer from intent to purchase and then to repeat.

4. Taking into account the rate of progress and the dwindling attention span of customers, short-form content will play a key role in the coming years.

5. Another important aspect needed to sustain your business in the next 5-10 years is the availability of an Omni-channel Customer Experience. Customers are looking at a product offline and then purchasing the very same product online and vice versa. So, companies need to be available for the customer across all touchpoints at all times.

6. With an expansion of touchpoints, raw customer data starts flowing in from different places, channels in a very sporadic manner. And in order to truly understand customer behaviour, you need to create one single view of the customer. This gives you a holistic view and understanding as to what the customer is talking across the entire customer journey.

Make Customer Experience the biggest selling point of your brand!