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Are You Ready For The Next Disruptions In Customer Experience?

Organisations will also need to explore collaboration opportunities with other organisations serving the same customer to bring enhanced Customer Experience which will also result in mutual business benefits to both the Organisations.

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An ongoing stream of new technologies are challenging enterprise businesses to adopt smarter capabilities – technology is impacting customer experience development and delivery, as well as influencing rising customer expectations. Leading companies are embracing top trends, incorporating them into their existing processes to create innovatively connected experiences that win long-term customer loyalty. Despite varying predictions, they all share one common thread: data. Data is now at the heart of extraordinary customer experience, and companies are embracing advanced technology that helps them use data better. Growing adoption of these technologies is creating a higher level of customer experience maturity, connecting systems and removing silos to create a common data source that drives more effective ways to engage customers and propel business growth. Data collection, analysis, and application allows for a richer understanding of the customer across an entire organization.

Mobile devices have become an integral part of our day-to-day lives and we unconsciously turn to our handheld comrades “to act on a need, learn something, do something, discover something, watch something, or buy something,” referred to in customer experience as micro-moments. These micro-moments are game changers in the buyer’s journey because they:

  • Indicate customer intent to engage or purchase 
  • Highlight detailed customer preferences at every stage
  • Allow businesses, using data, to contextually understand how to help customers

To succeed, leading companies are using forward-thinking technology to power their channels, collect and store data, and enable every device to work together to deliver a consistent experience. What starts as a micro-moment often leads to larger brand engagement, if the brand gets it right.

Disruption #2: 360-DEGREE CUSTOMER VIEW
The reality of the “360-degree view of customer” is that because of data fragmentation, businesses have not been able to fully take advantage of it. Machine intelligence to filter through, analyze, learn from, and interpret big data, make sense out of millions of data points to actually tell a 360-degree story of individual customer needs, wants, and expectations. – and, it only gets smarter with the power of Artificial Intelligence (AI) getting deployed. With AI and Machine learning, companies have an extremely powerful way to:

  • Access and make sense of disconnected big data
  • Make more accurate predictions of buyer behavior
  • Personalize experiences to every single customer in real time

Companies paving the way in modern customer experience use technology fuelled by AI to make data more valuable and enhance how they connect with their customers.

With chatbots, data and machine learning join forces to extend an always-open arm of the customer service team and use data to tailor the experience. The second a customer finds a brand, it is ready, willing, and able to knowledgeably respond. Through chatbots, organizations can:

  • Make business be available to prospective and current customers 24/7
  • Provide a private environment that customers trust
  • Meet customers on the channels and apps they are already using, providing self- service to avoid phone calls and emails

This new user experience will be more conversational and evoke the feeling of a “safe space” for customers to convey their wants and needs–chatbots give customers a way to interact with a business in a not only convenient, but very private manner. Businesses that adopt technology to enable this type of experience will be able to analyze data in real time, make recommendations to the customer as soon as they need it, and even recommend things the customer may not yet realize they need. Chatbots are an opportunity to bring machine learning, big data, and mobile together.

In today’s digital landscape, the IoT is almost an unconscious adoption. The IoT is the reason we can raise our home thermostat via a mobile app, wear a smart watch that tracks our health and suggests lifestyle changes, or (unbelievably) watch a car drive by without a driver. Features like proactive reporting of data from objects back to the manufacturer enables more effective customer service and support, whether through self-service, remote diagnosis, or field service enablement. It also provides a better understanding of customer usage patterns for future product development, marketing efforts, and relationship nurturing.

Today, the information companies can collect about a customer over their entire buyer journey is more valuable than the actual sale. The IoT is a major channel for engagement as customer experience continues to evolve with digital transformation– companies will transform into a truly customer-centric business, where they are able to proactively acknowledge, engage, solve customer issues and deliver experiences that go above-and-beyond expectations.

Business processes, like email marketing, Campaign Management, Social Media Engagement, generating sales quotes, and speaking with customer service live or digitally, must become a consistent and seamless experience, regardless of where, how, or when a customer chooses to interact with a brand. A connected suite of cloud solutions is the pinnacle for businesses trying to achieve the ultimate, contextual customer experiences across the total buyer journey.

Buying solutions from a full-suite provider equips modern enterprises to:

  • Connect systems across the entire organization
  • Remove department silos
  • Empower every team with a 360-degree view of customer experience that goes all the way across marketing, sales, service, and commerce

According to a Gartner research, more than 50% of companies will shift investments to customer experience innovations. Thus, it continues to be strategic piece for organizations trying to understand customers better and in turn, retain existing ones as well as attract new ones. 

The above-mentioned disruptions in CX are already materializing, and it is in the interest of enterprises that want to succeed in the new world order to adapt to them. Organisations will also need to explore collaboration opportunities with other organisations serving the same customer to bring enhanced Customer Experience which will also result in mutual business benefits to both the Organisations.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.

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Alok Khanna

The author is Executive Director – Indian Oil Corporation

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Prasad Rai

The author is Vice President – Applications, Oracle India

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