Throughout the past decades we find numerous terms in the popular business press and academic literature that refer to an increasing inability to grasp the world and deal with the things happening around us. Examples include uncertainty, turbulence, rapid change, dynamism, disruption, complexity, hyper-competition, high-velocity markets and flux. For a
Most business leaders today don’t need convincing about the power of artificial intelligence (AI). They are swayed by the promise of efficient and personalized interactions at every step of the customer journey. The Zendesk Customer Experience Trends Report 2022 shows that 57 percent of leaders plan to increase their AI investment by
Continue reading10 ways AI will improve the customer experience in 2023
Artificial Intelligence (AI) is no longer sci-fi. There is a reason AI in customer experience has been the point of discussion since OpenAI’s ChatGPT launched in November 2022. It has manifold use cases in businesses across industries, enhancing user experience and driving innovation. It is not just ChatGPT; customer service
Continue readingHow Will AI Improve Customer Experience in 2023?
Over the past few years, changes in customer behaviours have spurred the rise of digital innovation in the insurance industry. The novel coronavirus (COVID-19) led to a disruption in the health sector with a surge in claims interruption from reduced business activities, and less use of face-to-face channels. Within hours
Continue readingRethinking Customer Experience in the Insurance Industry
Every industry is feeling the pressure to improve their customer experience, and insurance is no different. Insurance customers are demanding the type of convenient, fast, and personalized service they get from Amazon, Netflix, Uber, and others. To compete, insurers will need to up their customer experience game while still keeping
Continue readingTop 5 Customer Experience Metrics for Insurance
“While 89% of large companies globally have a digital and AI transformation underway, they have only captured 31% of the expected revenue lift and 25% of expected cost savings from the effort. Until business leaders are convinced of the value and confident in how to get it, they are unlikely
The estimated value of each customer can play an integral role when making business decisions, such as whether to invest more in customer acquisition or retention. That said, customer lifetime value (CLV) is a metric used to determine the amount of money customers spend on your business throughout an average
“We believe in a customer-centric culture!” “Our values include putting the customer in the center of everything we do.” “We are committed to being customer-centric.” Sound familiar? You or maybe your organization may have adopted similar mottos or share the term “customer-centric culture” as a guiding principle. And that is great. However,
Continue readingCustomer-Centric Culture Barriers and Ways to Address Them
It’s time to start measuring and managing their worth. The true purpose of a business, Peter Drucker said, is to create and keep customers. Most managers understand this, but few behave as if they do. Under relentless earnings pressure, they often feel cornered, obliged to produce quick profits by compromising product quality,
1. PREFACE Anyone working in the customer experience field knows that once you start digging deeper you realize that customers are not the only stakeholder that impacts customer experience. Think of your organization as a living organism that works as an open and fluid ecosystem including customers, employees, suppliers, partners, investors,
Continue readingTotal Experience starts by breaking the outer silos between customers and employees