Customer experience is always double sided. On the one hand, it can lead to great traction for an organization, but if not executed well could end up eroding the brand. With technology disrupting every stage of life and work now, five investments have been identified which if applied now, will lead to multiple benefits in the coming times. First one of them is the Internet of Things (IoT) to connect everything. Business consulting leaders McKinsey and Bain both have extremely positive predictions towards growth of this industry. At this point most of IoT usage is at households or offices with routers or door locks, but soon it will revolutionize the software services. The next investment would be in Chatbots, already being used optimally by the likes of Trip Advisor, Sephora, Nordstrom, Cover Girl and Charity Water. They are more reliable than people. Another innovation would be Voice Activated Everything as implemented by Whirlpool to assist people using voice technology. Then there is Concierge Customer Service which is an automated network that allows which as the name suggests is an application to streamline all customer issues and relay them to concerned persons for trouble resolution. Companies must increasingly start making use of unstructured data as it analysis will provide them with authentic business intelligence on marketer and competitors.

Source:https://www.forbes.com/sites/blakemorgan/2017/03/27/customer-experience-spring-cleaning-your-5-best-investments/#6d18d5431dec

Uploaded Date: 18th May 2017