Oct 14, 2016
Enterprise priorities today are strongly propelled by improving customer experience. With only about 28% of enterprise respondents in our 2016 Annual Customer Engagement Technologies State of the Market study being satisfied with the experiences they deliver to their customers, there seems to be significant room for improving customer experience. For some enterprises, this means turning to the practice of Customer Journey Management.
We define Customer Journey Management as the automation of (or parts of) customer communications in each point of engagement along the customer journey. This includes customer communications management, dash-boarding and reporting on the customer journey, journey mapping, as well as incorporating collaboration capabilities which allow stakeholders across an organization to actively participate in the customer conversation.
Within our latest research, which included enterprises in North America, Latin America, and Western Europe, we asked enterprises to conduct a self-assessment of their execution of Customer Journey Management. Overall, enterprises indicated relatively low levels of utilizing different aspects of Customer Journey Management. Here are some of the key insights we found.
Alignment of customer communications along the customer journey
Only about a quarter of enterprises fully agree that they have aligned all of their customer communications across individual touchpoints in the customer journey. This process is not an easy task and enterprises are faced with many challenges including frequently changing customer preferences, the emergence of more digital channels, the pace of communications, synchronizing communications across channels, and personalizing communications in an environment where unstructured data is widely available. It is not uncommon for larger enterprises sending more communications or those with siloed departmental structures to have more difficulty with aligning all customer communications across touchpoints.
Providing Customer Journey Insights
Almost one third of enterprises responded to have dashboards in place that give them visual and real-time insights into customer journeys. Real-time insights allow an enterprise to quickly identify bottlenecks in the customer journey, maximize resources used in various touchpoints, and establish reporting in order to translate customer experience investments into business outcomes. They also enable enterprises to react quickly to customer complaints and issues which is largely beneficial in improving customer experience. The likelihood of acquiring new customers or upselling a product to an existent customer increases when an enterprise can quickly identify and respond to a customer complaint or issue.
The ability to instantly capture data from one touchpoint and make that available to another touchpoint in (almost) real-time is something that about one third of enterprises indicated they are capable of doing. This capability allows enterprises to be truly omni-channel in their communications with customers. A customer wants to have ONE continuous and channel-agnostic conversation with an enterprise. This means that if the conversation began by telephone, it should easily be continued through email without having the customer recap their question or concern.
Finally, almost one third of enterprise respondents cited to have completely digitalized their customer journeys; a prerequisite for journey automation. This particular capability is critical for enterprises to keep up with the constantly changing customer preferences. Journey automation helps enterprises to become more efficient in the practice of Customer Journey Management by having the ability to be agile with changing customer communications.
In order to keep up with rapidly changing customer communications, businesses should consider to invest in Customer Journey Management. Customer Communications Management is a key component for Customer Journey Management. It forms the bridge between customer communications and customer experience. Customer Journey Management will be inevitable for any business depending on superior customer experiences. Customer Journey Management allows enterprises to work more efficiently and effectively, therefore not only improving customer experience but also improving the bottom line.
Clients of InfoTrends’ Customer Communications advisory services have full access to the research cited within this blog post. We will soon start our 2017 Studies: The Annual State of the Transactional Communications & Payments Market AND The Annual State of the Customer Engagement Technologies Market, where clients will have an opportunity to weigh in on the questions we ask. For more information on how to gain access to the results, contact Keith LaVangie at email@example.com today!
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