Whilst it can sometimes feel like you need a crystal ball to predict the success of your business, one thing that you can be sure about is that customer engagement remains at the forefront of any business’ success. Nowadays, we have high expectations for customer engagement. And the statistics from Microsoft’s 2016 State of Global Customer Service Report, in which 5,000 customers across Brazil, Germany, Japan, the United Kingdom and the United States were surveyed, prove that. In fact, 72% of customers stated that they expected a customer service agent to know their contact information, product information and service history without being asked as part of the support process.
Staying ahead of the game is one thing, but keeping your customers happy is a different ballgame altogether these days. If you can understand your customers, you’re more likely to retain them. In the survey, 77% of customers commented that they were more likely to favour a business that offered proactive customer notifications. Whilst more and more brands are still on improving their reactive, proactive and personalised customer engagement, it's predictive that is really raising the bar at the moment.
In the Walker Customers 2020 report, the aim was to identify what type of customer experience metrics businesses currently focus on. 60% of the 200 global business and customer experience professionals commented that its metrics show only what has happened to customers in the past. For 83% of businesses that were surveyed, their hope is that by 2020, metrics will show what the customer intends to do in the future. In fact, the findings suggest that by 2020, customers will expect firms to be ahead of them, understanding their requirements before they themselves recognise that need.
When asked, roughly 4 in 10 of the in-house marketing teams and agencies surveyed by Econsultancy stated that they were either using, implementing or budgeting for predictive analytics. In fact, 70% commented that customer engagement was their priority when it came to developing these capabilities in a bid to increase revenue.
Artificial intelligence may just provide the boost that brands need. In a 2017 webcast available on demand, Constellation Research Founder and Principal Analyst Ray Wang notes he believes AI will have the greatest impact for the greatest number of businesses in the future.
In the webcast, Wang goes on to present the seven spectrums of outcome for AI based on its ability to continuously learn:
These seven factors will inevitably transform the way businesses think and allow for smarter decisions to be made. There's no denying that the future of customer engagement is bright and intelligence-based, but it's also going to be highly competitive. That's why it's a great idea for brands to start getting predictive now if they haven't already.
If you want to improve your customer engagement rates, get in touch with our team to discuss your options.
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