Why Investment in CX is Even More Important This Year

Shep Hyken interviews Josh Wheeler, Strategic Director for Reuters Events Customer Service & Experience. He shares findings from the 2023 State of Experience & Service Report and what businesses should prioritize in CX and EX to remain competitive.

Top Takeaways: 

·      Learn from outside of your industry. You will commoditize what you offer if you only learn the best practices and strategies within your industry. If you learn from the best across all industries, you can go from being the best in the industry to becoming world-class.

·      Your customers don't compare you to your direct competitors. They are comparing you to the best experience they receive from anywhere, from any type of company, and bringing those insights back to what's happening with their relationship with your business. For example, they compare the convenience of online e-commerce companies with their healthcare provider and expect the same quality of experience.

·      According to the State of Experience & Service Report, here are the most important customer-centric objectives for 2023:

1.    Analyzing and using customer feedback. 42% of respondents see “translating insights into action” as their biggest concern when it comes to data management.

2.    Improving the quality of customer support experiences.

3.    Creating frictionless experiences, especially across different channels. Take every opportunity to remove friction. The easier company to do business with is going to win.

·      Meet your customers where they are. Communicate with them using the channels that they prefer. For example, if your customers are from older generations who prefer to use the phone over other channels, going fully digital will have a negative impact on customer experience and loyalty. Companies need to teach their customers the easiest and most frictionless way to get the answers they're looking for.

·      Plus, Josh shares more stats and insights from the 2023 State of Experience & Service Report, including how perks and compensation ranked in what makes employees happy. Tune in! 

Quote:

"Your customers aren't confined to one industry. They interact with dozens of organizations and will compare their best experiences in any industry to their experiences with you."

About:  

Josh Wheeler is the Strategic Director for Reuters Events Customer Service & Experience portfolio. He leads the end-to-end development and production of in-person conferences, virtual events, and thought leadership content for customer service & experience professionals across North America. 

Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and host of Amazing Business Radio.

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