COVID-19 made the few businesses that did not have an online presence acutely aware that they need one – yesterday! We have seen at least 4 years of digital growth squeezed into six months of 2020. And this is only the beginning. While in 2020, the focus was primarily on eCommerce and digital payments, there will now be a huge demand for new platforms to be able to interact digitally with the customer, not just to be able to sell something online.
Digital customer interactions with brands and products – through social media, online influencers, interactive AI-driven apps, online marketplaces and the like will accelerate dramatically in 2021. The organisations that will be successful will be the ones that are able to interact with their customers and connect with them at multiple touchpoints across the customer journey. Companies unable to do that will struggle.
Digital Engagement Will Expand Beyond the Traditional Customer-focused Industries
One of the biggest changes in 2020 has been the increase in digital engagement by industries that have not traditionally had a strong eye on CX. This trend is likely to accelerate and be further enhanced in 2021.
Healthcare has traditionally been focused on improving clinical outcomes – and patient experience has been a byproduct of that focus. Many remote care initiatives have the core objective of keeping patients out of the already over-crowded healthcare provider organisations. These initiatives will now have a strong CX element to them. The need to disseminate information to citizens has also heightened expectations on how people want their healthcare organisations and Public Health to interact with them. The public sector will dramatically increase digital interactions with citizens, having been forced to look at digital solutions during the pandemic.
Other industries that have not had a traditional focus on CX will not be far behind. The Primary & Resources industries are showing an interest in Digital CX almost for the first time. Most of these businesses are looking to transform how they manage their supply chains from mine/farm to the end customer. Energy and Utilities and Manufacturing industries will also begin to benefit from a customer focus – primarily looking at technology – including 3D printing – to customise their products and services for better CX and a larger share of the market.
Brands that Establish a Trusted Relationship Can Start Having Fun Again
Building trust was at the core of most businesses’ CX strategies in 2020 as they attempted to provide certainty in a world generally devoid of it. But in the struggle to build a trusted experience and brand, most businesses lost the “fun”. In fact, for many businesses, fun was off the agenda entirely. Soft drink brands, travel providers, clothing retailers and many other brands typically known for their fun or cheeky experiences moved the needle to “trust” and dialed it up to 11. But with a number of vaccines on the horizon, many CX professionals will look to return to pre-pandemic experiences, that look to delight and sometimes even surprise customers.
However, many companies will get this wrong. Customers will not be looking for just fun or just great experiences. Trust still needs to be at the core of the experience. Customers will not return to pre-pandemic thinking – not immediately anyway. You can create a fun experience only if you have earned their trust first. And trust is earned by not only providing easy and effective experiences, but by being authentic.
Customer Data Platforms Will See Increased Adoption
Enterprises continue to struggle to have a single view of the customer. There is an immense interest in making better sense of data across every touchpoint – from mobile apps, websites, social media, in-store interactions and the calls to the contact centre – to be able to create deeper customer profiles. CRM systems have been the traditional repositories of customer data, helping build a sales pipeline, and providing Marketing teams with the information they need for lead generation and marketing campaigns. However, CRM systems have an incomplete view of the customer journey. They often collect and store the same data from limited touchpoints – getting richer insights and targeted action recommendations from the same datasets is not possible in today’s world. And organisations struggled to pivot their customer strategies during COVID-19. Data residing in silos was an obstacle to driving better customer experience.
We are living in an age where customer journeys and preferences are becoming complex to decipher. An API-based CDP can ingest data from any channel of interaction across multiple journeys and create unique and detailed customer profiles. A complete overhaul of how data can be segregated based on a more accurate and targeted profile of the customer from multiple sources will be the way forward in order to drive a more proactive CX engagement.
Voice of the Customer Programs Will be Transformed
Designing surveys and Voice of Customer programs can be time-consuming and many organisations that have a routine of running these surveys use a fixed pattern for the data they collect and analyse. However, some organisations understand that just analysing results from a survey or CSAT score does not say much about what customers’ next plan of action will be. While it may give an idea of whether particular interactions were satisfactory, it gives no indication of whether they are likely to move to another brand; if they needed more assistance; if there was an opportunity to upsell or cross sell; or even what new products and services need to be introduced. Some customers will just tick the box as a way of closing off a feedback form or survey. Leading organisations realise that this may not be a good enough indication of a brand’s health.
Organisations will look beyond CSAT to other parameters and attributes. It is the time to pay greater attention to the Voice of the Customer – and old methods alone will not suffice. They want a 360-degree view of their customers’ opinions.
Ecosystm Predicts: The Top 5 Customer Experience Trends for 2021
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IoT is also being used for predictive maintenance and in enhancing employee safety. Smart sensors can monitor parameters such as vibrations, temperature and moisture, and detect abnormal behaviours in equipment – helping field workers to make maintenance decisions in real-time, enhancing their safety.
GIS is being used to get spatial data and map project distribution plans for water, sewage, and electricity. For instance, India’s Restructured Accelerated Power Development & Reforms Program (R-APDRP) government project involves mapping of project areas through GIS for identification of energy distribution assets including transformers and feeders with actual locations of high tension and low tension wires to provide data and maintain energy distribution over a geographical region. R-APDRP is also focused on reducing power loss.
Transparency and Efficiency using Blockchain
Blockchain-based systems are helping the Utilities industry in centralising consumer data, enabling information sharing across key departments and offering more transparent services to consumers.
Energy and Utilities companies are also using the technology to redistribute power from a central location and form smart contracts on Blockchain for decisions and data storage. This is opening opportunities for the industry to trade on energy, and create contracts based on their demand and supply. US-based Brooklyn Microgrid, for example, is a local energy marketplace in New York City based on Blockchain for solar panel owners to trade excess energy generated to commercial and domestic consumers. In an initiative launched by Singapore’s leading Power company, SP Group, companies can purchase Renewable Energy Certificates (RECs) through a Blockchain-powered trading platform, from renewable producers in a transparent, centralised and inexpensive way.
Blockchain is also being used to give consumers the transparency they demand. Spanish renewable energy firm Acciona Energía allows its consumers to track the origin of electricity from its wind and solar farms in real-time providing full transparency to certify renewable energy origin.
Intelligence in Products and Services using AI
Utilities companies are using AI & Automation to both transform customer experience and automate backend processes. Smart Meters, in itself, generate a lot of data which can be used for intelligence based on demographics, usage patterns, demand and supply. This is used for load forecasting and balancing supply and demand for yield optimisation. It is also being leveraged for targeted marketing including personalised messages on Smart Energy usage.
Researchers in Germany have developed a machine learning program called EWeLiNE which is helping grid operators with a program that can calculate renewable energy generation over 48 hours from the data taken from solar panels and wind turbines, through an early warning system.
Niche providers of Smart Energy products have been working with providing energy intelligence to consumers. UK start-up Verv, as an example, uses an AI-based assistant to guide consumers on energy management by tracing the energy usage data from appliances through meters and assisting in reducing costs. Increasingly, Utilities companies will partner with such niche providers to offer similar services to their customers.
Utilities companies have started using chatbots and conversational AI to improve customer experience. For instance, Exelon in the US is using a chatbot to answer common customer queries on power outages and billing.
While the predominant technology focus of Utilities companies is still on cost optimisation, infrastructure management and disaster management, the industry is fast realising the power of having an interconnected system that can transform the entire value chain.
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