Customer Experience Management – What To Expect In 2015

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Managing customer expectations and experience is one of the most important aspects of managing a business. Thanks to technology, there are new opportunities being created every single day to make customer experience even better. On the flip side though, there are newer avenues for customers to vent their frustrations over bad experience. The onus in both the cases is on the business to keep themselves updated in order to ensure they offer the best of customer experience.

As we head towards the last few days of 2014, it is an opportune time to look ahead and see what could be in store for us in the new year. Here are some things you could expect:

No More ‘Out Of Stock’

The supply chain systems are getting sophisticated and thanks to big data analytics, it is now possible to identify even the minutest of demand changes. Thanks to this, businesses will become increasingly able to identify a potential sale before there is one. Consequently, business owners will now be in a position to sufficiently stock their inventory up so that they no longer have to lose a sale due to lack of inventory. Not just this, cheaper third party fulfillment centers would mean it would cost lesser to hold an inventory that has not been sold compared to the potential loss from not having the product in stock.

Dynamic Pricing

Dynamic pricing can be a double-edged sword – while it makes people who got their favorite products at a bargain extremely happy, it also makes others who are forced to pay a higher price disappointed. That is one reason why few businesses have dynamic pricing on the products they sell. But there could more stores that offer dynamic pricing to their customers in the new year. A dynamic pricing model makes customers visit your website much more frequently than they would normally. This way, even if they do not buy their favorite product while visiting your store, it could bring about a higher percentage of impulse purchases.

Automated Customer Relationship

No two customers are the same and that is exactly why customer relationship managers have always been taught to treat every customer uniquely. However, thanks to smarter CRM systems, it is now possible to automate a large portion of customer relationship tasks. The leading CRM software tool companies like NetSuite and SAP have also been making it possible to automate processes like upselling that are now mostly manual.

Customer experience management is an evolving field. As more and more tasks get automated, it leaves managers with more time to innovate and implement newer tools and features that could make customer experience a much more rewarding process in future. What are some things you think will happen to customer experience in 2015? Share them with us in the comments below.

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  1. Good post! Typically 90% of the buying process is taking place before the buyer makes contact on your website. So in 2015, with the power to increasingly be able to identify a potential sale before there is one will be key to competitive advantage.

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