Research suggests that a full 66% of consumers will abandon a brand unless their experience is personalized. This means that brands must do more with less while meeting soaring customer expectations, and that the future is bright for businesses that have a sharp, forward-thinking plan for providing a highly personalized customer journey without sacrificing data safety and privacy. Tall order? Perhaps.
A vast portion of the market is engaged in retail, which is transforming as we speak. The landscape is inundated with competitors, and consumers have endless options – literally at their fingertips. The organizations that are poking through the pack are those that focus on the quality of their service – enter retail customer engagement. First of all, this activity takes place across a vast amount of physical and digital channels – in-store, e-commerce websites, social media, advertising, the metaverse, email, live chat, phone support – the list goes on. It’s critically important that retail organizations recognize that supplying great, affordable products is a given – what will set them apart is their ability to provide superb experiences for their customers, on every channel and on their own terms.
If we subscribe to the principle that loyal customers are satisfied customers, it’s safe to assume that this type of dynamic is integral to a robust bottom line. Research, in fact, shows that organizations leading in satisfaction rankings grow their revenues approximately 2.5 times as fast as their industry peers. This data needs to factor heavily into the profit and loss equation. Cutting service costs to deliver profits is short-sighted and sacrifices long-term profitability. There are several strategies that brands can implement in their quest to generate increased customer engagement.
While it seems like a no-brainer in 2023, personalizing the retail customer experience is at the top of the list by creating a better CX and driving revenues. The generic interaction simply doesn’t work anymore. Surveys show that fully 86% of consumers will fully commit to a brand as a result of personalized experiences.
Investing in AI is a must for retail brands. Customers now anticipate it and expect that AI can provide on-the-spot, comprehensive information regarding products, shipping, payment, returns, and a plethora of other questions that arise on the customer journey. Triaging customers in this way can take pressure off human agents to deal with real-time issues. AI can also create unique experiences for customers by providing augmented reality (AR). This technology helps people visualize their planned purchase in real life – for instance, the intelligent dressing room to try on clothes virtually, see how furniture might look in their home, or even try sunglasses or makeup.
Another important retail experience to consider is the return. Allowing for a seamless, free and no-hassle return demonstrates that an organization is there for the customer at every stage of the journey, and can even be a determining factor in the purchase.
Today’s retail organizations can truly maximize the customer service process by partnering with one of the leading customer service outsourcing companies. Anexa is an award-winning outsourcing pioneer that has set the gold standard in customer service and CX, along with key non-core processes that can drain a company’s focus and efficiency. As an accredited industry leader, Anexa can pick up the virtual pieces and manage as much, or as little of your business activities as you need, while you’re figuring out how to recreate and re-establish your business practices in a post-pandemic world.
Want to learn more? We’re Anexa – reach out today.