The stage is set for customer relationships that are built atop digital technology and data.
Two years into the COVID-19 pandemic, the region continues to adjust with cycles of change and adaptation. Customers today are more connected, consume more digital products and services, and are sharing more data because of their digital consumption. At the same time, for organizations, digital engagements, products, and services have turned mainstream as they accelerated the expansions of digital touchpoints and channels over the last two years. The stage is set for customer relationships that are built atop digital technology and data.
“The future of CX is digital-first. Organizations must rethink their customer engagement strategies, and leverage technology and data to help their customers achieve better outcomes and create long-lasting empathetic experiences,” says Daniel Zoe Jimenez, Associate Vice President, Digital Transformation, Future Enterprise, and Customer Experience research, IDC Asia/Pacific. “Our research shows that organizations with digital-first CX strategies, and that are more progressive in mastering CX technologies and leveraging data, outperform those that do not,” adds Jimenez.
To this end, organizations are investing in capabilities such as in customer data platforms (CDP) and omni-channel engagement and/or commerce solutions. These next-level capabilities are key enablers to master customer data and reinvent customer experience. By using AI and real-time events to trigger next-best actions and scale hyper personalized experiences, digital experiences will also feel more intuitive and human-like.
In scaling CX, digital self-help services with greater service transparency is expected to become more prevalent. Concurrently, the digital-physical boundaries will continue to overlap with the overlaying of digital content and information in the physical world for an enriched “physical” experience, making digital even more pervasive than before. Along the same vein, we expect to see the osmosis of business-to-consumer (B2C) CX practices into the business-to-business (B2B) domain as organizations seek to drive more automation, efficiency, and precision in their marketing practises. In a nutshell, digital-first CX will permeate organizations further and broader in 2022 and beyond, and these predictions will help organizations to better plan and execute their digital-first strategies.
Here are the top 10 key Future of CX predictions that will impact both technology buyers and suppliers in Asia/Pacific for 2022 and beyond:
Pay for Data: By 2025, 35 per cent of Asia/Pacific 2000 brands will openly incentivize consumers to share personal data in exchange for cash rewards, services, and exclusive experiences.
Intelligent Experience: By 2024, 25 per cent of Asia/Pacific 2000 brands will partner to build shared customer data hubs to deliver innovative connected experiences and reduce data acquisition costs.
AI Comes to Financial Services: By 2023, 25 per cent of Asia/Pacific banks will use AI-based sentiment analysis to improve customer experience on current and future products and services.
Fighting AI Bias: By 2025, 50 per cent of the Asia/Pacific 2000 will increase data scientist diversity by 50 per cent to improve trust in customer engagements, driven by data privacy and trustworthy AI regulations across the globe.
Augmented Personalization First: By 2026, Asia/Pacific B2B companies will use AI interactions and analytics technology to deliver deeply personalized journey engagement, eliminating 40 per cent of marketing and sales human touchpoints.
Customers Tracking Complaints: By 2024, 25 per cent of Asia/Pacific companies will offer tracking transparency for customer complaints and this will become a best practice and a driver of brand choice, causing broader adoption by 50 per cent of companies by 2025.
Age of the CDP: By 2024, 30 per cent of Asia/Pacific 2000 companies will deploy next-best action across their omni-channel environment, driving demand for CDPs, omni-channel management, and customer service solutions.
Instant Customer Authentication: By 2024, Asia/Pacific organizations will be forced to revamp their customer authentication process to reduce friction and recognize and authenticate customers securely within five seconds of connection.
Return of Analog Experiences: By 2023, to counter digital fatigue, 60 per cent of leading Asia/Pacific organizations will look to differentiate by delivering trusted and memorable engagements that recreate physical experiences.
AI-driven Luxury: By 2025, more than 65 per cent of luxury hotels in Asia/Pacific will have deployed a customer-facing smart assistant that leverages AI to drive a better customer experience.
“Customers today expect organizations to make the best use of the data shared by delivering empathetic experiences,” says Lawrence Cheok, Senior Research Manager, Digital Transformation and Customer Experience research, IDC Asia/Pacific. “In turn, organizations are investing in customer experience (CX) capabilities to better collate, analyze, and harvest customer data from an ever-expanding source of digital touch points and channels and deliver a digital-first experience,” ends Cheok.
Tags: IDCTechnology
