As the post-millennial generation begins to ramp up in the consumer market, companies seek to better understand their new customer base while also meeting increasingly onerous expectations. This generation, like the one before it, expects faster results and near instant gratification in its buying experience. Loyalty in consumerism is a thing of the past, and competition has never been tougher. In order to meet the new burdens of demand, product and service providers continue to transform their customer service capability, examining the entirety of the "customer journey" rather than simply a single transaction approach, as was the practice of the past.
Digital innovation is the driving force behind much of the customer service transformations that are occurring today, and the spectrum of capability is wide and diverse. Along the maturity scale of customer service digital capability, companies' abilities range from basic rule-based automation of digital interactions with customers to cutting-edge artificial intelligence to improve processes, find greater efficiencies, and improve response times, ultimately creating a better customer experience with the hope of increased loyalty, retention, and repeat business. Additionally, digital innovations are opening new channels of communication with customers, moving beyond call centers and websites to more mobile apps and platforms that offer greater accessibility and transparency than ever before.
As the transition to greater digital integration continues to gain momentum, consultants in this market are capitalizing on this opportunity. With unique insights into digital tools and methodologies across a variety of industries, geographies, and competencies, consulting firms can bring quick assessment of client digital maturity and tailored tools to fit their specific customer experience goals. Companies engaged with savvy digital consultants can rapidly develop digital capability while remaining agile to the tumultuous nature of the current consumer market.
While digitalization is clearly the hallmark capability for customer experience going forward, it is important to note that the human element of customer service will not go away, at least not any time soon.
Artificial intelligence, while growing significantly in capability, still cannot fully replace the agility and understanding of customer service representatives. And while the latest generation prefers communication through digital mediums, previous generations remain quite active in the consumer market, and a significant portion of these generations still prefer the human touch. To that end, in order to create a holistic high end customer experience, product and service providers must strike a balance between digital and human.
Too much investment in one can lead to shortcomings in the other. Companies must make shrewd decisions in their prioritization based on understanding of their target customer base, the products and services they sell, and the most effective mediums in which to generate revenue.
Innovation and evolution of the customer experience is creating a plethora of new opportunities for consultants in this market. The firms poised to gain the most are those that not only remain leading edge in the development of digital capability, but also do not lose sight of the human element to customer service. With a finger on the pulse of both of these capabilities, consultants can bring holistic transformation to clients, developing customer experiences with the agility and foresight to become and remain best-in-class.
Matthew Merker is a Senior Analyst—Consulting Research of ALM Intelligence.
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