Market trends for Customer Experience

Market trends for Customer Experience

State-of-the-art AI-based technologies take innovation in call centers to the next level. It is what the specialized press, the analyzes from market research, or the great evangelists of the industry reiterate every day.

Organizations should focus on cloud-based virtual assistants, multi-channel customer engagement, analytics, NLP, and transcription innovation for their contact center solution offerings. Much of a contact center’s investment should be directed toward improving customer service.

Importance of the Customer Experience (CX)

It is clear that a key direction of a contact center is to provide a high-level customer experience (CX). And this is part of the organization’s digital transformation strategy. As part of this key focus, business leaders invest in tools to support the customer journey, ranging from product/service evaluation cycles to subsequent continuous use support cycles. The emphasis on improving the customer experience throughout the travel lifecycle means that IT leaders are ready to invest in solutions that enable effective, proactive, and responsive communication, regardless of the customer channel.

2020 Gartner Customer Experience Innovation Survey clearly shows that projects that aim to improve the customer experience are the engines behind the giant digital transformation programs.

As the chart below shows, approximately 32% of respondents indicate that improving the customer experience was/is the main goal of their digital business transformation initiative. Moreover, 59% of respondents say that improving the customer experience is one of their goals. And, only 1% of respondents indicate that the customer experience is not a goal, nor does it have any impact on their digital transformation initiatives.

Taking a look at the top opinion leaders in the industry, a list of the most anticipated value additions looks like this:

  1. Digital Analytics
  2. VCA/Chatbots
  3. Machine Learning
  4. Sentiment Analysis
  5. Digital Analytics

Market Trends

Pandemic Influence

The pandemic created many global economic issues and businesses uncertainty for many industries. Customer support requirements have increased, while IT budgets have decreased. The anticipated uncertainty of the business places even greater emphasis on automation within the contact center to prevent the increase in operational costs associated with customer service due to budgetary pressures.

On the other hand, the dramatic increase in calls and the need for assistance in contact centers, which cover all verticals, took place as the physical offices closed and the agencies moved online. In many cases, customers who need up-to-date COVID-19 information have significantly increased their contact center volume levels. Even in the vertical segments that did not see a noticeable increase in questions about COVID-19, the transition from personal to virtual business increased the volumes of contact centers.

Innovation Opportunities

As customer improvement initiatives become the focus of digital business transformation programs, the marketplace for contact center solutions that deliver across-the-board advances in the customer experience is poised for growth.

Core technologies that create solutions for contact centers include a combination of intelligent machines/activation concepts, such as artificial intelligence (AI).

Studies show that the world is ready to invest in a wide range of interconnected technologies – AI, Internet of Things (IoT), CRM – to increase and improve customer experiences, but also for better agent management.

Cloud-based Contact Centers

The shift from premise-based contact center investment to cloud-based investment has seen a marked increase in adoption with the COVID-19 pandemic. The impulse is expected to become commonplace, and as many contact centers as possible to become cloud-based.

Gartner estimates that 55% of contact center end-user spending will be associated with the contact center as a service (CCaaS) in 2020. This proportion is projected to reach 80% by 2023. As these solutions reach the end of their life. useful life, new investments will continue to encourage cloud delivery.

AI-based Apps

There are several technologies for contact centers that have the ability to divert some of the incoming traffic that would otherwise be directed to an active agent and provide enhancements to the customer experience. Two examples at hand are Virtual Customer Assistants (VCAs) and Chatbots.

VCAs use more sophisticated decision trees to manage customer interactions. They are also more complex and difficult to implement but offer a higher degree of competence. VCAs can identify the intent of the client’s query when it deviates from the expected rules (usually by natural language processing [NLP]). Some VCAs may make more complex decisions and take appropriate action based on how their logic, past experiences, and lessons learned are defined.

Chatbots – which are text-based (and less commonly voice-based) communication interfaces to the client on websites, messaging platforms, and social networking sites – are popular as customer support applications that allow automation. Chatbots often use basic sophistication with predefined scripts.

Analytics & Reporting

The collection, work, and analysis of data throughout the entire journey of customers will become a critical differentiating factor for contact centers. The information obtained can be used to reduce the volume of calls, to better align the skills of agents with customer engagement, to obtain information about abandonment, and to take advantage of meaningful information about KPIs. Information from traditional channels, as well as newer digital channels, needs to be evaluated collectively for improved analysis.

VCAs use more sophisticated decision trees to manage customer interactions. They are also more complex and difficult to implement but offer a higher degree of competence. VCAs can identify the intent of the client’s query when it deviates from the expected rules (usually by natural language processing [NLP]). Some VCAs may make more complex decisions and take appropriate action based on how their logic, past experiences, and lessons learned are defined.

Chatbots – which are text-based (and less commonly voice-based) communication interfaces to the client on websites, messaging platforms, and social networking sites – are popular as customer support applications that allow automation. Chatbots often use basic sophistication with predefined scripts.

Multi-channel Customer Engagement

The collection, work, and analysis of data throughout the entire jour

The ability of a contact center to support and integrate a wide range of channels as part of the customer travel framework can provide a more comprehensive opportunity to connect and support customers. Customers use a wide range of entry points that cover traditional communications, social networking, and messaging applications to make purchases and find information about the functionality and quality of services/products. Therefore, they seek to use this mix of tools/channels to initiate involvement in these environments, making multi-channel engagement a key aspect of contact center solutions.

As a result, the focus of the providers should be on the connections to the social media platforms through the APIs to support the interactions with the customers.

ney of customers will become a critical differentiating factor for contact centers. The information obtained can be used to reduce the volume of calls, to better align the skills of agents with customer engagement, to obtain information about abandonment, and to take advantage of meaningful information about KPIs. Information from traditional channels, as well as newer digital channels, needs to be evaluated collectively for improved analysis.

VCAs use more sophisticated decision trees to manage customer interactions. They are also more complex and difficult to implement but offer a higher degree of competence. VCAs can identify the intent of the client’s query when it deviates from the expected rules (usually by natural language processing [NLP]). Some VCAs may make more complex decisions and take appropriate action based on how their logic, past experiences, and lessons learned are defined.

Chatbots – which are text-based (and less commonly voice-based) communication interfaces to the client on websites, messaging platforms, and social networking sites – are popular as customer support applications that allow automation. Chatbots often use basic sophistication with predefined scripts.

Conclusion

As Connor Seidenschwarz, Principal Research, Customer Service & Support at Gartner said “It’s crucial that leaders understand how customers interact with digital channels in order to contain customers within them and improve their overall customer experience.” it is obvious that understanding and adapting to market trends for call centers has become crucial and there is no room for delays. If the goal is to provide an uplifting customer experience, adapting and implementing new technologies has become a must.

Do you have a great idea to improve the customer experience? Write to us and one of our colleagues can guide you to choose what suits your business!
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