Required for Retail 2021: How Brands Win Customers Through Individualized Experiences
Forrester VP, Principal Analyst Brendan Witcher and Fang Cheng CEO, Founder Linc Global will be sharing on what brands and retailers must do in 2021 to win customers by providing them with the individualized customer experiences leveraging automated digital workers.
Never before have so many consumers gone digital with the brands they shop. With this shift comes new consumer expectations, as they become both channel-agnostic and accustomed to personalized, relevant and value added interactions across wide range of screens and channels.
In the Webinar We Discuss;
- Why specifically do consumers choose the brands they do business with
- What top digital initiative brands are investing in to win, serve and retain customers
- When initiatives work, what factors make them a success
- Who you can look to in the industry that is already doing it well
- How to create a digital worker strategy that allows your customers to have a 1:1 experience on all channels
We’ll also be discussing how you can utilize customer experience automation to increase customer satisfaction, create growth, and help drive revenue for your organization.
Featuring Guest Speakers
Brendan Witcher | VP, Principal Analyst, Forrester
Brendan serves digital business strategy professionals and is an expert on consumer behavior and technology trends in the commerce engagement space. He is an authority on market developments and vendors that help deliver today’s leading strategies and tactics in digital excellence. Brendan has written over 150 industry-leading research reports and is a trusted adviser to over half of the US Fortune 100 companies including 8 of the top 10 that sit at the forefront of dealing with digital disruption.
Fang Cheng | CEO, Co-Founder, Linc Global
Linc is the only CX Automation platform built for modern enterprise retailers and disruptor brands, to rapidly solve complex, high fidelity, eCommerce use cases through built-in Digital Workers, offloading 85% + of the Customer Experience across all communication channels. Fang previously co-founded Touchco, served as COO, and led the business to be acquired by Amazon. Prior to that, Fang had multiple years of experience as a hedge fund manager focusing on algorithmic trading.
Webinar Key Takeaways:
Required for Retail 2021- How To Create Individualized Experiences
When it comes to personalized customer experience, retailers and consumers aren’t on the same page. While almost 90% of retailers say they deliver personalized CX, a scant 40% of shoppers say that the information they get from brands is relevant to their tastes and interests. That’s a big perception gap. If you’re struggling to get your personalization efforts dialed in, here’s where you should focus your attention:
You’re Only as Good as Your Data
Robust, accurate data is the engine that drives personalization, but many retailers do a poor job collecting and aggregating it.
Some collect only basic information (sex, birthday, email address, etc.). Others have their data siloed in multiple systems or spread across various teams, with no one source of truth.
In order to create truly useful personalized experiences, you need to dig deeper into a given shopper’s behavior (what channel do they most frequently use, do they have a favorite sales associate, etc.) and find a way to pull all collected data together into as close to a 360-degree customer view as you can get.
If you find you’re struggling to collect data from your customers, you might need to provide more value upfront to make the exchange seem worthwhile to them.
Customers might give you their email address for 15% off their next purchase, but if you want the kind of insights that will power industry-leading personalization, you’ll need to up the ante on the one-of-a-kind value you’re offering shoppers in exchange.
Prioritize Relevance and Value-Adds
Outstanding personalization is both relevant and value-adding. One without the other leads to an experience that at best leaves customers shrugging and, at worst, actively frustrates them. For example, a happy birthday email from a brand is highly relevant to a customer (assuming the date is correct), but it doesn’t add much value. By contrast, a 25% off discount might be valuable to a customer, but not relevant if it doesn’t apply to what they actually intended to purchase.
Win Customers By Not Losing Them
Focusing on surprising and delighting customers when you haven’t nailed the basics of personalized digital experiences is like trying to perfect the icing before you’ve even made the cake. While customers obviously aren’t opposed to being surprised (in a good way!) or delighted, their immediate need and desire when they engage with your brand across touchpoints is for things to work the way they expect them to, to be able to complete their intended actions, get information and move along their buying journey smoothly.
If you can’t provide this baseline level of CX, no amount of bells and whistles will make up for that.
Solve and Resolve
If a customer is engaging with you, it’s because they are seeking something. Outstanding personalization is focused on identifying and delivering whatever that something is–information on products, an update on their order status, instructions for pickup, a replacement for a damaged or incorrect item, etc.
The job of your personalization strategy and the tools you use to deliver it is to resolve their queries and solve their issues and to be able to do so at scale.
With over 60% of shoppers reporting that they’ve switched brands due to a poor customer service experience, successful personalized interactions in key service moments is of paramount importance.
You can’t afford subpar personalization. Consumers are judging you not only against your competitors, but against all other brands and entities with which they’re interacting digitally.
While getting personalization right might seem like a tall order, it’s actually driven by a simple concept–the need to think like your customer.
“If you put yourself in their shoes and center your CX efforts around meeting their goals for interacting with you instead of focusing on what you want to entice them to do, the path toward building the type of individualized experiences that drive true loyalty becomes much clearer.”