Digital Marketing in 2020
2020 will have many Digital Marketers pivoting to Customer Experience and how they perceive your value. Delivering exceptional customer experiences should be the goal of every department. It will take cultural change to accomplish this, moving through barriers and silos to instill the Customer viewpoint and how they perceive the value of your products and services.
Technology can play a key role in moving forward, CRM systems should not be the sole domain of Sales, Marketing and Support functions. AI, Marketing Automation and Personalization (yes, business personalization) can demonstrate the ROI and value of marketing to your Customers and the rest of the organization.
Give A Great Customer Experience
Price Premiums Exist – Increase revenues with a better experience
Bad Experiences Really Hurt – 33% leave on one bad experience
Get Experience Basics Right – Speed, convenience, helpful team
Human Interaction Matters – 82% of consumers want more
Experience IS the Strategy – 54% say improvement is needed
The right culture, innovative ways of working and empowering the team are key to unlocking revenue opportunities through better experience. Technology alone won’t cure a poor customer experience.
Technology can help companies create better customer experiences that result in huge benefits, top-performing companies report paying close attention to the human experience around digital services and related technology.
Keys to Success in 2020.
Marketing Automation, Personalization and CRM Transparency are the technology underpinnings to creating an exceptional Customer experience. Bringing these technologies together give you the data you need to drive a winning Customer experience. The data from these systems provides an understanding of your Customer’s behaviors individually, in groups (segments) or as a total. And, is essential to ensuring your products, services and support are beating your Customer’s expectation.
Even a modest investment in these technologies will give you a platform to raise the bar. Many solutions have free versions to to launch without much capital risk. The technology and related process implementations do take effort and must be implemented via a change management process to ensure they are culturally adopted.
There is some risk in 2020 to falling behind your competitors as Customers are growing less tolerant of a poor experience (PWC: Future of CX).
“Can you imagine losing one-fifth to one-third of your customers in a single day? Lost. For good. That’s exactly what could happen after just one bad customer experience with your product or brand. Even if people love your company or product, in the U.S. 59% will walk away after several bad experiences, 17% after just one bad experience.
32% of all customers would stop doing business with a brand they loved after one bad experience. In Latin America, 49% say they’d walk away from a brand
after one bad experience.”
Getting the basics right first is the key to success. Change your customer experience goals to reflect what customers appreciate! A greater appreciation is directly correlated to greater revenues.