Tag: AI

7 Proven Customer-Centric Strategies Smart CEOs Use to Drive Growth

Posted on by Denyse Drummond-Dunn

Have you made changes to drive your business growth using customer-centric strategies that are based on current trends?

Don’t know which ones are most relevant?

Then read on for a description of each and ideas on actions you can take to reap significant benefits in your growth and profitability.

 

Introduction

The landscape of customer-centricity continues to evolve rapidly as we move into the second half of 2024. Changes are being driven by technology, changing consumer expectations, and global dynamics.

Companies that fail to keep pace with these shifts risk falling behind, while those that embrace customer-centric strategies based on the latest 2024 trends will thrive.

In this article, we’ll explore the latest tendencies shaping customer-centricity, provide examples of how forward-thinking companies are leading the way, and include relevant statistics that illustrate the importance of these trends.

 

The Key Trends Impacting Customer-centric Strategies in 2024

Let’s start by reviewing the leading trends we have seen in the first half of this year. Are you aware of them all? And more importantly, have you made changes to benefit from some if not all of them?

 

1. Enhanced Focus on Customer-Centricity

Customer-centricity, once a differentiator, is now an expectation! In 2024, more companies have focused on customer-centricity as their core business strategy. This goes beyond lip service and involves deep integration of customer feedback, behaviours, and pain points into product development, marketing, and service delivery. Are you walking the talk?

A recent study by PwC found that 73% of consumers point to customer experience as an important factor in their purchasing decisions. Still, only 49% of U.S. consumers say companies provide a good experience. This disparity presents a significant opportunity for businesses that can truly place customers at the heart of everything they do.

Companies such as Allbirds, a sustainable shoe company, exemplify this focus by consistently involving their customers in product development through feedback loops, surveys, and data analytics. As a result, Allbirds has grown exponentially by delivering products that align with customer desires for both comfort and sustainability.

Patagonia is another company that excels in customer-centricity. Known for its environmental activism and durable products, Patagonia directly aligns its business operations with customer values.

A standout example of this is their “Worn Wear” program, which encourages customers to buy used Patagonia gear, repair their products, or trade in old items for store credit. This program not only addresses customer pain points related to sustainability but also strengthens loyalty.

According to a 2021 survey, 87% of Patagonia customers expressed increased loyalty due to the company’s ethical practices and customer-first initiatives.

As businesses increasingly adopt customer-centric strategies, expect to see more companies integrating customer feedback into every aspect of their operations.

 

2. Integration of Artificial Intelligence (AI)

Artificial intelligence is no longer a novelty; it’s a necessity for delivering hyper-personalized customer experiences.

In 2024, AI is already playing an ever-increasing role in predictive analytics, hyper-personalization, and customer support automation.

A McKinsey report revealed that personalization can lift revenue by

… Click to continue reading

5 Key Trends to Business Success in 2024 using a Customer-First Strategy

Posted on by Denyse Drummond-Dunn

As we debut the second half of the year, the ever-evolving landscape of customer experience (CX) is making business success even more challenging than usual.

Are you finding this too? If so, then I have some ideas to help.

We already know that businesses that embrace a customer-first strategy successfully lead their markets by driving growth from increased loyalty. To continue benefiting from this customer-centric approach, it is important to understand what has changed in 2024 and how companies should react to their customers’ ever-changing demands.

 

Business Success in 2024: The Key Trends

Here are the key trends of 2024 and some questions you may already be asking yourself about them. If not, then perhaps you should.

As always, I share my ideas and examples to help you make any changes you decide are needed.

 

AI-Driven Personalization:

What is it? AI-driven personalization leverages artificial intelligence and machine learning to analyze vast customer data and deliver highly customized experiences.

It is important because it enables businesses to anticipate customer needs and offer tailored recommendations, enhancing the customer experience and driving business success.

Example: eBay’s new magical listing tool uses artificial intelligence to extrapolate details about listings from images. As a result, sellers can list items easily, and buyers can access more information about potential purchases. (Source)

 

Data Privacy and Trust:

What is it? Ensuring customer data is handled with transparency and robust security measures.

With increasing regulatory scrutiny and customer awareness, businesses must build and maintain trust by protecting their customers’ information, which is vital for ongoing business success.

Example: To sustain their customers’ trust, companies should communicate clearly about data usage and adopt stringent security protocols to prevent data breaches.

 

Omnichannel Experiences:

What is it? Providing a seamless and integrated customer experience across multiple online and offline channels.

Customers expect consistent interactions and a unified experience, regardless of the channel they are using. This can enhance both their satisfaction and loyalty.

Example: Airbnb offers 24/7 support through various channels, ensuring customers receive timely assistance regardless of the platform they use. (Source)

 

Ethical AI:

What is it? Using AI responsibly and transparently avoids perpetuating biases and helps to maintain customer trust.

Ethical AI practices are essential for building long-term, trust-based customer relationships and ongoing loyalty.

Example: Businesses must be open about how they use AI in customer interactions and take steps to mitigate any negative impacts.

 

Empathy at Scale:

What is it? Combining AI-driven automation with human empathy enables your customer service team to handle complex customer issues more effectively.

This approach ensures that customers feel valued and understood, even when interacting with automated systems, contributing to continued customer satisfaction.

Example: Using AI to address simpler queries frees human agents to provide empathetic support for more complicated issues. It is also usually speedier, which customers appreciate.

Are you following trends? If so, do you turn them into plausible future scenarios? If not, you are missing an

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Using AI to Delight Your Customers With More AI (Authentic Interactions)

Posted on by Denyse Drummond-Dunn

Artificial Intelligence (AI) has become an integral part of our daily lives and has revolutionized how we interact with technology and businesses. This post discusses how to use AI to enhance customer experience with another AI, authentic interactions.

Over the past year, the AI landscape has witnessed a significant shift from AI versus AI competitions to AI working in collaboration with AI. Although AI-driven interactions have made significant progress, it is time to take them to the next level by integrating authentic interactions with AI to deliver exceptional customer experiences.

Let’s examine how AI has evolved in customer relations and explore ten ways businesses can integrate authentic interactions with AI to enhance customer experiences.

Get ready to delve into a world where technology meets humanity, where the future of customer engagement is not AI versus AI, but AI working in tandem with AI.

 

The Evolution of AI in Authentic Interactions with Customers

Over the years, AI has greatly evolved in customer interactions. Initially, AI was used to automate monotonous tasks and to provide quick and efficient responses to customer inquiries. However, the early AI systems were often inflexible and could not understand and adapt to the subtleties of human communication.

With the advances in AI technology, we have seen the emergence of chatbots and virtual assistants that can engage in more natural and context-aware conversations.

This development has led to a shift from the traditional AI versus AI approach, where AI tries to outsmart or outperform other AIs, to a more collaborative approach known as AI + AI.

 

AI + AI: The Future of Customer Engagements

The combination of AI and AI marks a significant change in how businesses utilize AI technologies for authentic customer interactions. Instead of setting one AI system against another, businesses are now concentrating on integrating multiple AI components to function together fluidly, ultimately improving customer experiences.

Here are ten methods to integrate authentic interactions with AI to achieve this goal:

1. Embracing Emotional Intelligence (EI) is crucial for AI. It involves training algorithms to recognize and respond to human emotions by understanding cues such as tone of voice, choice of words, and facial expressions.

This helps AI gauge a customer’s emotional state and respond appropriately with empathy and support. When AI acknowledges customers’ feelings, they feel heard and valued and can offer personalized solutions.

Pre-programmed responses should be banned as they are easily recognized and do more harm than good. Call centre representatives should be given the autonomy to do what’s best for the customer within certain guidelines. If you’d like to read more about delivering best-in-class customer service, read the post: “7 Ways to Deliver Awesome Customer Service & Build Loyal Advocates”

2. Human-AI hybrid teams combine the best of both worlds by utilizing the strengths of humans and AI systems. AI is highly efficient in handling routine tasks and queries, allowing for quick and seamless customer responses.

However, when complex issues arise or when human empathy and problem-solving skills are required,

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Providing Amazing Customer Journeys by Leveraging the Power of Technology

Posted on by Denyse Drummond-Dunn

Customer journeys are evolving fast, and technology is at the forefront of this transformation, especially in the past couple of years, thanks to AI.

This post explores how businesses can embrace omnichannel experiences, self-service solutions, and data-driven personalisation to create amazingly seamless and unforgettable customer journeys.

I have also added examples illustrating some of the more successful implementations. Be inspired by these real-world illustrations of companies that have leveraged technology to build strong customer relationships and unlock new avenues of growth for your business.

 

Technology-Enhanced Customer Journeys

In the dynamic realm of modern business, the pivotal role of technology in shaping customer service has become undeniable.

Organisations adept at harnessing the potential of technological advancements offer seamless and personalised experiences and gain a distinct competitive edge in today’s rapidly evolving digital landscape.

This article unveils the profound transformation of customer service in the digital age, underscoring how technology has revolutionised customer expectations and enabled organisations to deliver faster, more efficient and tailored support.

 

The Evolution of Customer Service in the Digital Age

The digital age has brought forth a sweeping transformation in customer service. Technology, the bedrock of this evolution, has spurred a revolution in customer expectations, compelling organisations to elevate their service standards.

By capitalising on technology, businesses can now offer swifter response times, enhanced efficiency, and personalised touches that cater to the individual preferences of their clientele.

As technology continues to advance, so do the expectations of today’s customers. A prime example of this is the seamless omnichannel experience offered by retail giant Nike.

By integrating web, mobile, social media, and in-store interactions, Nike has created a harmonious ecosystem that caters to customers’ preferred communication channels, resulting in a 40% increase in online sales.

This showcases how technology can amplify customer service, enabling organisations to meet customers where they are and provide a consistent, convenient, and personalised customer journey.

1. The Rise of Omnichannel Customer Service

In today’s digital landscape, omnichannel customer service has become a beacon of innovation and strategic importance. By seamlessly integrating multiple communication channels, including web, mobile, social media, and chat, organisations can provide a uniform and convenient customer experience. The synergy achieved through this integration nurtures customer satisfaction and provides invaluable insights into consumer behaviour and preferences.

As previously mentioned, Nike is one example of a brand that has successfully done this, but there are others. Starbucks is another industry trailblazer.

With its mobile app, customers can order ahead, earn rewards, and make payments seamlessly. This technological integration enhances convenience and deepens customer engagement, resulting in a staggering 40% of Starbucks transactions being conducted through its app today. This vividly illustrates how the convergence of channels empowers customers and fuels business success.

2. The Shift Towards Self-Service

The era of customers’ digital empowerment has fostered a discernible shift towards self-service options driven by the burgeoning demand for instant gratification and autonomy.

Organisations are now empowered to equip customers with comprehensive self-help resources, knowledge bases, interactive FAQs, and AI-driven chatbots that deliver … Click to continue reading

The Promise of AI and ML to Take Digital Marketing to the Next Level

Posted on by Denyse Drummond-Dunn

Everyone seems to be talking about the impact of AI (artificial intelligence) and ML (machine learning) these days. As if ChatGPT wasn’t enough to get everyone excited, OpenAI surpassed itself by upgrading to ChatGPT4! And competitors are forced to launch their AI platforms earlier than planned.

If you haven’t tried them yet, I highly recommend you jump on the bandwagon and give these new tools a spin. They are great fun. But they can also be handy for businesses and bloggers. 

Before getting into their uses, I wanted to start with a summary of where AI and ML are today.

 

From Text to Voice

Most of us have grown up with text communication and the written word, but Gen Z, born after 1996, is more comfortable with voice. They are less formal but far more impatient than previous generations.

They expect Alexa, Siri, Cortana and similar voice-activated personal assistants to be available whenever they have questions. With this type of search expansion into daily life, being on the front page of Google is no longer good enough. You have to be the number one answer to their questions!

[easy-tweet tweet=”Being on the front page of Google is no longer good enough; you have to be the number one answer in this voice-activated, personal-assistant-supported world we live in.” hashtags=”voice-activated, SMX, CEX, CRM”]

 

AI is Not One Technology

Despite what digital marketers may have hoped, AI and ML are not the solutions to all our problems. It is a series of technologies addressing various current and future customer needs.

Unlike normal analytical processes, using AI needs developers and users to start with the end in mind. Knowing what we are looking for, rather than waiting to see what the analysis brings us, needs a very different thought process. The questions asked to become as important as the answers received, if not even more so. Therefore it is advisable to make them the best you can ask. Your digital marketing has everything to gain and nothing to lose.

[easy-tweet tweet=”Being on the front page of Google is no longer good enough; you have to be the number one answer in this voice-activated, personal-assistant-supported world we live in.” hashtags=”voice-activated, #CEX, #CRM, #SMX”]

AI and ML are Not 100% Accurate

AI is still in its infancy, despite great leaps forward in some areas in the past year or so. For example, the language translation is still inaccurate today, but that doesn’t mean it’s not helpful. Anything that moves us towards increased customer satisfaction from our digital marketing efforts is significant. However, we must understand their limitations and not be fixated on perfection or rely totally on them.

One of the biggest challenges still prevalent in businesses today is siloed data. It is easy to see that the more information sources we integrate, the more accurate our platforms will likely be. But until we finally break down our internal silos, AI will not be able to deliver its full potential.

 

Taking the Robots Out

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Are Smart Things Really Smart or is it Just Smart Marketing?

Posted on by Denyse Drummond-Dunn

Earlier this year I wrote about the impact of AI and ML on digital marketing. The article is called “AI and ML are Taking Digital Marketing to the Next Level.” In it, I compared the positive and negative implications of technology for customers and companies alike.  So this week I wanted to write about the impact of smart choices for business in general.

We seem to be surrounded by smart things: smartwatches, smart clothing, smart cars, smart houses and smart appliances. But are they really that smart? 

The reason for my question is that an article entitled “Taking ‘Smart’ Out Of Smart Things” by Chuck Martin made me think about whether “smart things” really are that smart, or whether it’s something else that’s making them appear smart?

So here are my views on it. Feel free to add your own opinions in the comments below, I would love to start a discussion on “smartness”.

 

The Age of the Customer and the Fourth Industrial Revolution

In one of their older Customer Experience reports Forrester claimed that we are now in the “Age of the Customer“. This was music to my ears when I first read it, because as you know I’m a customer champion. However, The World Economic Forum reported a few years ago that we are now on the brink of the “ Fourth Industrial Revolution” which is blurring the lines between physical, digital and biological spheres.

In their article, they explain that

“The First Industrial Revolution used water and steam power to mechanize production. The Second used electric power to create mass production. The Third used electronics and information technology to automate production. Now a Fourth Industrial Revolution is building on the Third, the digital revolution that has been occurring since the middle of the last century. It is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres.”

Does this mean that people are becoming less and less important as technology takes over more and more areas of our daily lives – and value? Luckily no. The author, Klaus Schwab, Founder and Executive Chairman of the World Economic Forum concludes the article by saying

“In the end, it all comes down to people and values. We need to shape a future that works for all of us by putting people first and empowering them. In its most pessimistic, dehumanized form, the Fourth Industrial Revolution may indeed have the potential to “robotize” humanity and thus to deprive us of our heart and soul. But as a complement to the best parts of human nature—creativity, empathy, stewardship—it can also lift humanity into a new collective and moral consciousness based on a shared sense of destiny. It is incumbent on us all to make sure the latter prevails.”

So no panic; there will hopefully still be a place for people in this brave new world! But that doesn’t mean that we won’t have to adapt … Click to continue reading

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