What did 2017 Teach Us about CX?
Post-purchase interactions with customers took the spotlight in 2017 and remain a priority to manage in 2018. Why? Research conducted by leaders like IBM and Euromonitor identified the power of positive post-purchase engagements.
- From IBM: “[Compared to our 2011 results] 94% more consumers say that the purchase experience has the greater potential to strengthen the brand relationship compared to the pre-purchase experience.”
- From Euromonitor: “….willingness to address post-purchase queries and complaints will influence whether a consumer recommends or criticizes it to fellow consumers and considers a repeat purchase.”
2017 also led to greater recognition of the potential power of post-purchase data. Harnessing this big data set with analytics to deliver value became a larger initiative across industries.
- From World Bank: “Big data solutions have the potential to accelerate the work of our teams by deriving timely, accurate, and actionable insights from alternative data sources in order to close data gaps and inform.”
- From Stanford University: “Big data is helping every industry become more efficient and productive.”
- From chatbot company Banter: “Post-sale [data] is critically important to the transaction.”
Where are We Headed with CX in 2018?
Customer experiences in 2018 will become increasingly personalized. Staying engaged with customers post-purchase and noting how they interact with you delivers insights you can use to build new content, reduce pain-points and ultimately raise customer lifetime value.
Interactions will need to be channel agnostic to deliver a consistent and timely customer experience. According to the Pew Research Center, almost 80% of US households own a smartphone, 75% have a desktop or laptop computer and 53% use a tablet. Designing post-purchase engagement around specific goals, and then ensuring that content that supports those goals is agnostic in regards to platform will help your customers’ interactions become more agile and frictionless.
Proactive customer problem-solving will elevate CX in 2018. Analysis of post-purchase information can help you anticipate customer challenges and provide solutions before problems arise. You can tailor FAQs, online tutorials, and user instructions to pre-empt questions. Importantly, proactive post-purchase support gives customers the satisfaction of resolving issues quickly and independently.
Success Stories to Inspire Your 2018 CX Plan
Dewalt leverages post-purchase feedback to save more than $6 miilion in research costs. Dewalt, a subsidiary of Stanley Black & Decker, identified the need to incorporate tradespeople feedback in their product development processes. Launching the Dewalt Insight Forum, Dewalt was able to leverage feedback from users to accelerate product development and better focus on issues that mattered most to its customer base.
Vitamix, a maker of high-performance blenders, launched a “Blueprint for Transformation”. By making a decision to make CX a primary strategic focus for the company, Vitamix was able to see online sales rise by 30% and average orders sizes increase by 40%.
Reliant NRG uses customer ‘fanatics’ to increase satisfaction. The development of 15 subject-matter experts helped CX at Reliant move from a single department to a holistic organizational effort. Staying connected with customers through post-purchase resulted in Reliant’s highest annual customer renewal rate to date
Is your 2018 CX strategy on track with industry trends? Want strong ROI for your CX initiatives? We can help! Call us at 289-729-0709 or contact us online.
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