Companies globally are rethinking their CX as the gap between customer expectation of a service and the actual delivery of the service is growing wider by the hour. The 2018 Forrester’s Customer Experience Index for US Brands report indicated a decline in customer experience. A total of 287 brands in the US, across 19 industries were ranked. It was noted that of the top 15 brands of last year, 12 showed no sign of improvement. Similarly, of the 19 industries that were ranked, 13 industries showed no significant change or signs of improvement from last year. All in all, the report highlighted that this year there are no CX leaders—for the third time in a row.

So, what does it mean to be a CX leader? Your Business needs good communication prowess, coupled with empathy to be a CX leader. It essentially means placing customers at the core of your business. And how can you achieve this? Well, your business needs a Business Intelligence and Analytics solution that can turn your system around, and provide insights that help elevate customer experience.

Forrester’s 2018 Customer Experience Index further classified brands into four types, namely Languishers, Lapsers, Locksteppers, and Laggards. Forming 10% of the brands that fall under Forrester’s CX Index, the Languishers are those brands that rose to the top of the ranks, but remained there for over two years now. They’ve shown no signs of improvement, and seem to be stagnant. The Lapsers are those who’ve risen to the top, only to fall back down. They constitute 20% of the lot. Following next are the Locksteppers that involve the businesses that move up and down the ranks. They don’t stand out – close to 48% of the brands are Locksteppers. Lastly there are the Laggards. These are brands that are constantly ranked low. They form 23% of the brand.

 
So, what causes brands to stagnate on the CX front?

We’ve highlighted some common issues:

• Ineffective employee training programs: Training programs often fail to hit the bullseye. Most training programs are either ineffective or non-existent. Preparing agents to deal with customers in a polite, professional way, familiarizing them with customer insights such as buying trends and patterns, and addressing customer needs and grievances with the right solutions are a few key factors that businesses must address. This is imperative to be able to deliver superior customer service.
• Inability to manage data: Every business runs on data. Raw data is of no use unless it is converted into meaningful insights. Data has to be stored systematically, structured, and then analyzed to deliver insights that help wow your customer.
• Insufficient competitor analysis: Not knowing where your business stands with respect to your competitors is yet another snag businesses face. This information is instrumental to identify your differentiators and set yourself apart from your competitors.

CX sees a facelift with The CareCloud

The CareCloud from Netlink, a Business Intelligence and Analytics solution has what it takes to enhance your customer experience. Backed by Artificial Intelligence, Business Intelligence, and Robotic Process Automation, The CareCloud is a cloud-based solution that offers modules such as:

• Business Intelligence Plus: It turns raw data into actionable insights to aid in the decision-making process, workforce management, and customer service enhancement. It gives you insights on sales and campaign performance too.
• Voice Analytics Plus: It offers top-of-the-game call recording, teamed with language solution.
• Training Audit Plus: It creates employee training programs to bring out the best in employees. It also helps audit classes at half the traditional training cost. Further, you can keep a tab on work efficiency and overall productivity.
• Complete Coaching Plus: It delivers customized,effective coaching plans that include coaching content assignment and predictions.

With a good Business Intelligence and Analytics solution like The CareCloud, data can be converted into insights such as customer traits and behaviours to enhance customer experience. This in turn drives customer loyalty. That’s more reason why your business needs a solution like The CareCloud.