Businesses in today's fast paced technological evaluation face an ever growing challenge to remain
competitive and relevant in the market. Today, as buyers are having more choices channels than ever before, it is important for enterprises to create differentiators from the rest. One of the important differentiator which helps enterprises to retain and grow their
market share is Customer Experience. For example, a restaurant serving food in a quiet ambient
surroundings will be providing Customer Experience at a different level from a restaurant
serving food in a busy market place.
In addition to the providing core product and service, businesses today are also focussing in provide value though better experience in order to achieve higher customer
satisfaction. However, in absense of right instruments of feedback, there is a possibility that a company might believe that they are providing high
experience value to customers, but customers might think other way. It is quite possible there might gaps in experience
provided by the service provider and actual experienced perceived by customer. This delta
is called Experience Gap. Businesses all around the globe lose billions in
revenue due to poor customer experience.
How to improve customer experience?
Traditionally businesses have been taking feedback from customers in form of
surveys to understand the experience gap and take actions based upon the feedback received. Online surveys, paper forms, short interviews etc. definitely have their importance and most conscious
businesses use them. However in today’s world, where individuals have time crunch more than ever before, it is difficult for businesses to receive enough feedback if at
all from busy customers. Also, many a
times customer do not provide correct or honest feedback in order to save time,
but sometimes chooses to tick all questions without even reading them.
But let’s not
blame only customers here. We all have had been in situations like this, like complaining a car service company when your car
was not properly washer after servicing. After six months when you sent your
car for next service you noticed the same issue again. Did you change your
service provider or called up the workshop again? If no actions are taken by
businesses on customer feedback, then eventually customer either stops giving feedback or switch
to another service provider. Sometimes back I was planning to purchased a new car. I checked many car showrooms in my locality before making up my mind to buy my car. By now my
hunt for a car was over, but natuarally I received follow-up calls from other showrooms whome I
had visited before. Most of them stopped calling me once I told them about my car purchase.
However there was a particular car dealer who kept calling me every couple of days until
I blocked the agent's number. Somehow my status as a prospective customer was not
changing in their system even after my providing this information several times. Clearly their call centre had a disconnect from their customer information system, resulting in sub optimal customer experience
as well as employee disappointment.
It is very
important to integrate customer feedback data with operations data. With seamless integration of customer feedback or Experience Data ( X ) with Operations Data ( O ) immediate actions can be taken to improve and adjust
operations processes to incorporate customer feedback. With X+ O integration business have
opportunity of real time optimisation of their operational processes based on customer
experience data, which not only improves
operational efficiency but also customer experience.
What are
the benefits and features of X + O Integration
Insight into Emotional
Data:
Operational
data only provides information about what is happening, however Experience data
provides information of why it is happening. For example, businesses can understand
why sales of a variant are down in a certain region or period. By analysing O +
X data together businesses can take actions to address detractors in business
operations.
Opportunity to get Customer feedback without asking:
Customer
does not always say what they want to or what they dislike about a product, service or
experience. By analysing operations and Experience data together, businesses
can get insight into trends and indicators to understand which processes need
to be addressed, and all this without chasing customers with time consuming survey
forms.
Higher customer satisfaction:
With Realtime optimisation of processes, based on
insight from experience data, customers receive higher experience value during
the whole cycle from inquiry to post sales activities. Higher experience for
customers translates into higher revenue for business.
References:
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