It’s 2018 - to be an effective CX leader you gotta really be in your game!
What are the major pitfalls tripping executives responsible for the customer experience? I’d argue that an over-reliance on new technologies is a good place to start, but an interesting new study published by Raconteur explores the topic in some detail and has several points worth sharing.
One of the arguments about technology is so basic that it’s hard to believe how many companies still suffer from this problem – speed, or the lack of it. Over 40% of customers say that they now prefer to complete their entire journey, from research to purchase, on their mobile phone yet their attention span is extremely short. Over half (53%) will give up on a mobile website or app if the information takes more than 3s to load, but the average site loading time in the UK today is 8.9s. This is the most basic issue related to technology and the customer experience, yet the average site loading time is three times what people are prepared to tolerate.
Data and data insights are also essential. Companies need to collect relevant customer data so they can create insights about what the customer likes, dislikes, and is likely to be interested in. Brands can create special offers and recommendations based on this knowledge and even drive sales that would not have taken place without the insight that the data can provide. Yet that data also needs to be protected. GDPR is about to be enforced in Europe, creating an environment where brands using customer data really need to protect it and justify why they are using it.
Just look at what Andy Day, Chief Data Officer at Sainsbury’s had to say on the subject of customer data: “Data has to be seen as a game-changing asset. Therefore business leaders need to become experts in data science and artificial intelligence. That drives a completely different way of thinking, and behavioural change is required. CEOs who are not interested in data will not keep their positions for very long.” If you still think that data analysis is just a nice extra then read that last sentence again.
22% of UK customers have unused loyalty points. The traditional points-based loyalty scheme has become expensive to manage and is difficult to unwind. Customer expectations around loyalty have changed dramatically in recent years – the relationship between a brand and customer today is about much more than just points. Any loyalty scheme that does exist today needs to have a much higher level of customer engagement – if you are not using all that history to create great customer interactions then you are not actively creating loyalty.
That’s just my thoughts on a few areas of the Raconteur report. You can read the complete article by clicking here. Let me know what you think I may have missed by leaving a comment here or get in touch directly via my LinkedIn profile.
Photo by Marco Verch licensed under Creative Commons.