Competition for your customers’ attention has never been fiercer. Building the best possible digital experiences must be a top priority. Those companies that allow their digital channels to go stale will find themselves at an extreme disadvantage in short order. With technologies that make AI, AR, VR and real-time personalization possible, your customers will expect new and intriguing experiences every time they come to your site.
By improving customer experiences, you’ll also improve your bottom line. An Oracle survey revealed 86% of buyers will pay more for a better brand experience, but only 1% feel that vendors consistently meet expectations. Improving your overall customer experience would improve retention, which means higher revenue. That’s because Even just a 5% retention increase improves profits by 25% to 95%, according to Bain & Company. A Temkin Group study found that moderate improvement in customer experience would impact the revenue of a $1 billion company by $775 million over three years.
Customer experience software, such as Jive, NetSuite, Pega, Dynatrace and new Relic can help you create the kinds of interactions your customers expect. We spoke with leading brands, including the San Jose Sharks, Royal Caribbean, Brooks Brothers, UBS, HP and Capital One about their customer engagement strategy, and what they believe it takes to remain competitive in such a fast-changing, driven market. Watch these videos to learn more about how you should apply technology and customer intelligence to your overarching customer experience strategy.