Large Companies globally are rethinking their CX as the gap between customer expectation of service and the actual delivery of the service is growing wider by the hour. The 2019 Forrester’s Customer Experience Index for 287 US Brands report indicated a decline in customer experience. Out of top 15 brands, 12 showed no sign of improvement from last year. Similarly, of the 19 industries that were ranked, 13 industries showed no significant change or signs of improvement from last year.
What does it mean to be a CX leader?
It essentially means placing customers at the core of your business. And how can you achieve this? Well, your business needs a Business Intelligence and Analytics solution that can turn your system around, and provide insights that help elevate the customer experience.
Forrester’s 2018 Customer Experience Index further classified brands into four types, namely Languishers, Lapsers, Locksteppers, and Laggards. The Languishers are those brands that rose to the top of the ranks but remained there for over two years now. They’ve shown no signs of improvement, and seem to be stagnant. The Lapsers are those who’ve risen to the top, only to fall back down. They constitute 20% of the lot. Following next are the Locksteppers that involve the businesses that move up and down the ranks. They don’t stand out – close to 48% of the brands are Locksteppers. Lastly, there are Laggards. These brands are constantly ranked low. Almost 23% of the brands fall into this category.
So, what causes brands to stagnate on the CX front? We’ve highlighted some common issues:
a. Ineffective employee training programs: Training programs often fail to hit the bulls-eye. Most training programs are either ineffective or non-existent. Preparing agents to deal with customers in a polite, professional way, familiarizing them with customer insights such as buying trends and patterns, and addressing customer needs and grievances with the right solutions are a few key factors that businesses must address. This is imperative to be able to deliver superior customer service.
b. Inability to manage data: Every business runs on data. To deliver insights that help wow your customer, data has to be stored systematically, structured, and then analyzed.
c. Insufficient competitor analysis: Not knowing where your business stands with respect to your competitors is yet another snag businesses face. This information is instrumental to identify your differentiators and set yourself apart from your competitors.
CX sees a facelift with Lumenore
Lumenore from Netlink, a next-gen business intelligence & analytics platform has what it takes to enhance your customer experience. Backed by Artificial Intelligence, Business Intelligence, and Robotic Process Automation, Lumenore is a cloud-based solution that offers modules such as:
Business Intelligence Plus: It turns raw data into actionable insights to aid in the decision-making process, workforce management, and customer service enhancement. It gives you insights on sales and campaign performance too.
Voice Analytics Plus: It offers top-of-the-game call recording, teamed with language solution.
Training Audit Plus: It creates training programs to bring out the best in employees. It also helps audit classes at half the traditional training cost. Further, you can keep a tab on work efficiency and overall productivity.
Complete Coaching Plus: It delivers customized, effective coaching plans that include coaching content assignments and predictions.
With a good Business Intelligence and Analytics solution, data can be converted into insight. These insights such as customer traits and behaviors enhance the customer experience. This, in turn, drives customer loyalty. That’s more reason why your business needs a solution like Lumenore.