2016 - The Year of Customer Experience
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Transcript of 2016 - The Year of Customer Experience
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2016THE YEAR OF THE CUSTOMER
Don’t just Satisfy,Delight!
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According to the Chinese Calendar, 2016 is the Year of the Monkey. But to most companies around the world today, it will be the Year of the Customer.
A year where Brand Competition would no longer be primarily focused on price or product features; rather, it’s going to be about providing a high quality and superior Customer Experience.
Don’t just Satisfy,Delight!
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By 2016, 89% of Companies expect to compete mostly on the basis of Customer Experience, versus 36% four years ago. (Gartner)
2012 2016
Chart Title36% 89%
Don’t just Satisfy,Delight!
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• Companies are beginning to realize the ROI of creating a memorable Customer Experience.
• Brands like Netflix, Amazon and Zappos are constantly rewriting benchmarks, forcing other brands in their respective verticals to step up their game, reassess their strategies and priorities.
Don’t just Satisfy,Delight!
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93% of Corporate Leaderships place Customer Experience Improvement on their list of Strategic Priorities. (Forrester Research)
Don’t just Satisfy,Delight!
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• CMOs, CEOs, CX heads and even CIOs are having to adapt to the dynamic nature of consumer buying patterns through technology and other digital enhancements.
• Customer Experience improvements are being discussed rigorously in board meetings. Clear cut strategies are initiated from the top most level, so that they can have strong organization-wide impact.
Don’t just Satisfy,Delight!
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By 2020, Customer Experience is expected to overtake both Price and Product when it comes to differentiating a Brand. (Biz Report)
Customer Experience
Product
Price
Don’t just Satisfy,Delight!
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• Some 10 years back, price and product literally ruled the market. In many ways, the cheapest product sold the most and brands could even get away with a mediocre customer experience.
• This is no longer the case today as customer experience is the biggest differentiator in the market. Customers have started paying a lot more attention to brand experienceand how it influences their emotions.
Don’t just Satisfy,Delight!
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By 2017, 50% of Consumer Product Investments will be redirected to Customer Experience Innovations. (Gartner)
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
BY 2017
50%
Customer Experience Innovations
Don’t just Satisfy,Delight!
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• Brands are indeed prepared to walk the talk, with big money investments into enhancing the overall customer experience.
• 10 years ago, any expenditure for customer experience improvements would have been seen with a lot of scepticism. Not anymore. Not today!
Don’t just Satisfy,Delight!
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Don’t just Satisfy,Delight!
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