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2020 saw a global pandemic with corresponding changes in cultural and business conditions that have led many call centers to explore new technological trends to address customer service challenges resulting from remote working and increased customer expectations. It’s the call center and customer service employees who are on the front lines of dealing with customers on a daily basis, and these interactions can have a huge impact on customer satisfaction, long-term loyalty, or lifetime value (LTV). , and overall company performance.

In the United States alone, businesses lose nearly $ 700 billion in revenue due to poor customer service. Any technology solution that can provide more real-time data and actionable suggestions about customers, regardless of the channel from which they interact with an organization, would be of great value to the call center.

Consumers increasingly look for exceptional customer service across all the channels in which they interact with a brand. They don’t differentiate between communicating with an organization over the phone, online, or in-store, and they expect a business to know their history and issues. wherever they may have been.

And as consumers increasingly use digital means to interact with brands, being able to communicate with them in an effective and relevant way is of critical importance. Call centers should seek adaptive service options to interface and respond to customers, with a priority on improving the omnichannel customer experience. This is a high priority as it is reported that 9 out of 10 consumers surveyed want an omnichannel experience with seamless service across communication channels.

Enter the customer data platform. Customer Data Platforms (CDP) are no longer just for marketers. Groups across the business are starting to see their benefits in helping them better understand and interact with customers at all stages of their buying journey. CDPs can provide customer service representatives with a deeper and more complete view of their customers, enabling the business to improve retention rates, reduce churn rate, and improve customer loyalty.

Retention is good for business

How important is it for your organization to retain your existing customers by providing them with a superior customer service experience? It was found that companies that increased customer retention by 5% increased their profits between 25% and 95%. And improving customer retention isn’t just about improving efficiency, it can also help you reduce the need to acquire new customers. In fact, it has been found that it costs between 5 and 30 times more to get new customers than to keep the ones you already have.

Retaining customers is about keeping them happy, responding to their issues in a timely and relevant manner, and building long-term relationships based on mutual value. Customer service representatives need a complete view of the customer to be able to provide this level of understanding and support to retain them. While customer service reps likely already have visibility into purchase history and call center interactions, they rarely have a full 360-degree view of the customer. In fact, 75% of a typical support call is spent finding customer account information.

If customer service agents can better understand customers across all channels and interactions, whether over the phone, digitally, or in-store, they can more easily respond to the needs and current mindset of their customers. CDPs are the only customer data management solution to manage customer data across all touchpoints, creating a unified profile under a single identity with data persisted over time. While DMP and CRM systems are more focused on advertising and sales professionals, CDPs are the logical choice for call centers who need to fully understand their customers’ behaviors and issues to resolve them. as quickly and efficiently as possible.

Experience matters

How does the digital customer experience affect how a consumer thinks about a brand and its products or services? 84% of customers say that the experience a business provides is as important as its products or services. 2020, the pandemic and the changes it has brought about have only increased customer expectations for a digital brand experience. 69% of digital experience professionals say the digital customer experience has become more important to their customers due to COVID-19.

When it comes to Gen Z, the numbers just keep going up. Based on a survey of 1,000 Gen Z consumers, a Sitecore survey found that Gen Z was impatient with brands that delivered a bad digital experience. The survey found that 63% of respondents are impatient with slow or poorly functioning websites, while 37% will abandon a purchase or post a negative review if their digital experience is bad.

Buyers pay more for great CX

As consumers have turned to primarily digital interactions with brands, the importance of the digital customer experience as the primary trust of the overall customer experience has become more important. A PWC survey found that 86% of shoppers are willing to pay more for a great customer experience. And the more expensive the item, the more they are willing to pay. For example, customers will pay a price premium of up to 13% to 18% for luxury and indulgence services, provided they have a great customer experience.

The problem for brands is that since the pandemic, consumers are both frustrated with the bad shopping experiences they are having, and have higher expectations of a better experience from another business. A comprehensive survey found that 64% of those polled were frustrated or struggled with an online transaction in the past six months, while a whopping 73% of customers say that an extraordinary experience increases their expectations. -to other companies.

Conclusion

A CDP can help organizations by proving deeper and more complete data about their customers to increase retention, improve customer loyalty, and improve the effectiveness and efficiency of business and marketing operations. CDPs will allow businesses to leverage data from disparate channels to give businesses a unified profile around a single customer in which their personal customer journey can be personalized at every phase.

If call centers can deploy CDPs as a way to deliver actionable, real-time information about their customers, customer service representatives will get a much more complete and accurate view of who they are dealing with, enabling brands to respond. to customer expectations and improve the depth and quality of the relationship.

In the future, the customer experience will continue to become even more important to the success of a business. This is illustrated in a study by Walker which found that by the end of 2020, customer experience will overtake price and product as a key brand differentiator.