Consumer Data? Customer Experience? Think Digital!

Think Digital

Do you know 80% of customers use Social Media to engage with brands? Consumer data gathered from platforms such as Facebook, Twitter, and Instagram enrich and drive brand research & development.

According to social traffic data:

  • Facebook has 1.84 billion daily visitors!
  • More than 500 million people use Instagram daily!
  • Twitter has 192 million daily active users!

At least one out of three comments on brand posts are customer complaints. One- are never resolved!

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    Leveraging Social Media

    Social Media has gotten increasingly fast and efficient. As a result, brand approachability fails when queries and complaints are unattended.

    It’s important to know that Response Management increases a brand’s customer advocacy by 25%! Leaving it unanswered decreases it by 50%. That’s a huge gap!

    The problem is, quite often, brands are present on social media but don’t always engage proactively. Customer Experience on digital channels is imperative for a brand’s survival. In 2021, everything is driven by the Internet of Things (IoT) and Big Data.

    The Important Highlights

    Investing in CX has the potential to double business revenue in 36 months. So, how to ensure we meet customer expectations? Here are a few ways!

    Digital Dynamicity

    This is the first step for every brand trying to enhance brand advocacy and online presence. Being active and communicating over digital channels helps immensely; especially when you have a bird’s eye view of all activity with the help of a superior CX platform, like Locobuzz.

    Customer Service, Content Marketing, Direct marketing, & Customer Relationship Management on digital channels are its key drivers.

    Amplifying Accessibility

    2021 is the age of tech integration where omnichannel customer engagement, customer service through chatbots, and data analytics for research and development are key drivers of growth.

    The AI Marketplace

    In the midst of transitioning to an IIoT driven world, new-age tech is being integrated into all solutions. The main question is: Are you integrating solutions like Artificial Intelligence, Machine Learning, and Big Data towards precision marketing and customer interactions?

    “With enhanced digital focus that caters to personalized customer experience, on the spot/ impulse purchases have increased by 49%”

    Forbes 2019

    How to Step Up Your CX Game?

    Monitor customer touchpoints, analyze sentiments and feedback, and respond to queries/complaints within an hour! Here are a few ways you can do this.

    Deploying Chatbots for Multichannel servicing

    This enables you to get one view of customers while analyzing their journey, driving conversational commerce, and improving servicing. It helps to enhance customer satisfaction by three-folds and retention by four! In the end, this is all we need, right?

    So, what are you waiting for? Deploy new-age smartbots from Locobuzz and automate response like never before. It’s time to put manual responses in the backseat and let conversational commerce take over!

    Investing in a Data Analytics Platform

    According to 65% of companies, improving data analysis is essential to delivering a better customer experience.

    The only problem? Customer data is fragmented. Manually analyzing data from multiple platforms is impossible. The data needs to be converted into actionable analytics and insights. This can be achieved by automating and migrating to a comprehensive, one window solution; like Locobuzz.

    An exhaustive directory of consumer data enables brands to be swift and transformative during changing times and customer expectations.

    Having Strong Online Reputation Management

    A make or break aspect is how effectively and quickly you solve customer queries or complaints.

    “73% of consumers say a good experience is key in influencing their brand loyalties”

    Forbes 2019

    As humans become increasingly impatient, brands need to resolve queries cleverly and quickly. An Online Reputation Management (ORM) helps brands facilitate a competitive advantage.

    “81% companies view customer experience as a competitive differentiator”

    Forbes 2019

    ORM proves that brands displaying empathy gain consumer loyalty. In the age of instant gratification, empathetic brands increase their value two-folds as compared to brands that don’t display empathy.

     

    Who Are the Future Customers?

    The new-age customers are Generation Z. Their striking traits are:

    1. Digitally active and highly opinionated
    2. Educated, aware, and difficult to please unless there’s individual gain
    3. Looking for personal relationships and not a standard buyer/seller marketplace

    How to Prepare Products for 2021?

    Integrating Industry 4.0 technology into existing online marketplaces will give rise to AI Marketplaces. Gen Z prefers businesses that are highly interactive, transparent, and follow the two-way commerce model. These steps ensure proficient customer acquisition, product development, and business sustainability for years to come.

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