Many things change—but in business, the customer will always remain king. Year in, year out—achieving customer satisfaction is always going to be a priority for every business leader.
As customer preferences shift and technology continues to reshape interactions, the concept of evolved customer experience has become increasingly prominent.
In this article, I seek to challenge us—professionals in the Customer Experience (CX) space, to make bold moves that meet the changing needs of customers.
It will require boldness in 2024, to challenge the status-quo of industry practices if we are to meet and surpass expectations of the evolving needs of our customers.
By now most of us have outlined our 2024 CX goals and expectations. It is vital to explore both the financial and non-financial measures that could radically shift CX regardless of your line of business. Here are some thoughts that I thought would inspire some BOLD actions to transform customer experience in your business:
1. Hyper-personalisation
Implementing advanced data analytics to tailor products and services to individual customer preferences. For example, a telecom company could offer personalised data plans based on usage patterns and demographics. This can be measured through increase in average revenue per user (ARPU) due to personalised offering as a financial measure and for the non-financial measure the Net promoter Score (NPS) can be used as customers feel more satisfied with tailor products and services.
2. Digital Transformation
Embracing digital channels and technology to enhance customer interaction and service delivery. For instance, a retail bank could introduce A1-powered chatbots for instant customer support and transactions. As a financial measure, a reduction in cost to serve as digital channels streamline customer interactions and as a non-financial measure an increase in customer engagement metrics such as app usage frequency and website visits.
3. Community Engagement
Fostering a sense of community and belonging among customers through events, forums, and social media platforms to stay relevant to your customers. I find community interactions very effective as customers share their experiences and insights with us. As organisations , we would realise a rise in customer Lifetime value (CLV) attributed to stronger community bonds leading to repeat purchases. As a non-financial measure, the growth in social media followers and engagement indicating increased brand advocacy and loyalty.
4. Sustainability Initiatives
Integrating environmentally friendly practices into product and operations to align to customer growing environmental concerns. For example, investing in sustainable agriculture for Ugandan farmers and accelerate growth in the sector. The effectiveness of this can be measured using cost savings from sustainable practices such as planting trees to improve the overall climate environment. As a non-financial measure, the improvement in brand reputation and perception among environmentally conscious customers.
5. Accessible and Inclusive Design
Ensuring products and services are accessible to all customers including those with disabilities. For example, improving mobile app accessibility features for visually impaired users. Potential revenue increase from tapping into underserved customer segments and for the non-financial measure one could track the enhancement in accessibility ratings and positive feedback from customers with disabilities.
These bold customer experience moves, when applied effectively can help organisations differentiate themselves and build stronger connections with their customers.
