Customer Experience is the secret to business success

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Customer Experience is transforming retail for the better. We’ve shown how focusing on your customer’s needs translates into business gains. But it’s not just customers who will benefit from a focus on CX. Your staff will too.

Moving to the ‘single view of the customer’

Personalisation wins customers over. Whether it’s the buzz of feeling catered to, or the convenience of predicted purchases, tailoring marketing to customers is proven to increase sales.

With the rise of Big Data, and increasingly sophisticated algorithms, online personalisation tactics can be brought to life in-store. This will need some back-end work, as data is moved from siloes into integrated stores. But it will pay off.

Better customer data storage streamlines operations. Sales and marketing can work easier alongside logistics and IT. Central staff can work in tandem with regional managers to tailor campaigns to their locality, and respond better to complex and changing customer needs.

By centralising customer experience, it’s easier for different departments of the business to come together to solve frequent pain points and problems. In turn, this makes it easier to automate the tedious or repeated tasks, saving precious employee time and business resources.

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A new focus needs a new strategy – and this could be risky…

By automating some of the more mundane aspects of sales and marketing, staff are freed up to offer a higher quality of service – the kind that creates the emotional connection to encourage purchases.

Shoppers still want that human interaction. And technology should be used to remove the pain points, whilst elevating the in-store experience. Even in the tech-first millennial generation, 50% of shoppers still prefer a checkout experience at a counter with a staff member.

But there is a disjoint between the ways that customers experience in-store technology, and the way staff do. In fact 59% of staff worry their jobsare at risk when automation is brought in.

In order to serve both customers and employees, you need to educate. Bring digital experiences into your shop, and train staff how to best use these new tools. Create an environment of innovation, and open up your CX strategy to staff input. This could lead to better staff retention rates in a notoriously high turnover industry.

In fact, employees are likely to benefit from better customer experience journeys. Research from the Boston Consulting Group predicts that the 15% of companies that get personalisation right will see $800 billion of revenue coming their way. Forrester estimates that customers are 4.5 times more likely to pay a premium price if their customer experience is excellent compared to poor.

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… But not embracing Customer Experience could be even riskier

Undertaking a new Customer Experience strategy and new technology in a rapidly changing industry is a gamble. The overwhelming majority of business leaders rate CX as critical to success; estimating that failure to implement could cost them 20% of revenue, annually.

Digitally integrated experiences are still relatively new and rare. But taking leadership in this field, at this moment, gives your brand innovation credentials. More than half of consumers think innovative technology use enhances their consumer experience.

Infusing innovation into your business is a long-term strategy. It’s a strategy that helps you stake your place in your industry, and live out your company values. Research by Temkin has found that companies focusing on a mission beyond making money are 80% more likely to be Customer Experience leaders.

And those employees at Customer Experience leading companies? They’re 30% more likely to do something good for their company, even if it isn’t expected, and 20% more likely to stay late, if they believe their company is fulfilling a mission.

The key to good CX is to invest in the people and tech that works

Not all Customer Experience is created equally, and research by Forrester has shown that only 25% of CX programs actually improved customer experience. Which is why its so important to put your employees – the people who interact most with customers – at the heart of your CX strategy.

We like to think our offering at Pointr is on the money, and the data indicates we are. 15% of eCommerce professionals intend to try out beacon technology by 2030. The proximity-based marketing this tech facilitates is predicted to see 7.3% growth this year – the highest of all retail technology.

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