The new year paints an uncertain picture for retailers. With predictions of more acquisitions, mergers, and bankruptcy administration, the fight to stay afloat shows no sign of slowing down. And, now we must throw the threat of recession into the mix.
Since customer expectations evolved in the pandemic, all demographics gained superior online shopping skills, now accustomed to shopping by price and convenience. Brand loyalty has hit an all time low, with nearly a third of customers willing to sever ties with a brand after just one bad experience. So, how can retailers retain and grow customer loyalty in such difficult times?
You must focus on what you can control - your communications. The right mix of proactive communication, AI self-service, and customer channels will ensure that delays and stock shortages can be managed effectively.
Whether it’s dealing with disruption, managing operational costs, or giving customers more choice on how to interact with your brand, customer experience will be a key differentiator for retailers to drive brand loyalty and improve sales through 2023.
Don’t allow disruption to break customer trust
Retailers create a brand promise when a customer makes a purchase. When products don’t arrive or issues occur, the promise is shattered and customer loyalty is put at risk.
For instance, big retailers like Amazon were forced to turn to other carriers in the US to try and meet tight Christmas delivery windows, whilst reports of parcels going missing completely in the UK highlighted the severity of logistics issues for customers. How can customers be expected to spend with a brand again if their order never arrived?
In times of disruption and delays, people want answers. Retailers must be able to handle any level of customer inquiries, even at peak times throughout the Golden Quarter. With a cloud-based contact centre, retailers can scale their teams to handle the incoming communication surge, using automated and self-service options as a buffer for initial contact.
Effective use of artificial intelligence (AI) and intelligent virtual agents (IVAs) can handle simple enquiries autonomously, supplying customers with parcel ETAs and delivery updates. However, distressed customers that prefer a human interaction for complex or high-emotion enquiries can be triaged to the best agent for the job.
CX unlocks potential revenue
Disruption aside, enhancing customer communications can help brands to drive more revenue in uncertain times.
For instance, over 70% of consumers expect companies to personalise their interactions, demanding that retailers proactively send relevant product or service recommendations and tailor messaging and promotions to their needs.
With digital-first shopping being the new normal, retailers gain the opportunity to use proactive, personalised communications to drive more online sales. By feeding customer spending and loyalty data into communications, brands can use their comms for more than mitigating disruption - they can encourage consumer spend.
In the contact centre, this means that all interactions can be more personal, backed by individual customer data and contact history. When someone gets in touch, agents are prepared with the information they need to make customers feel special and smooth our complaints. Agents are also in position to upsell products and share targeted offers.
Contact centre managers can even use analytics of agent performance to optimise interactions further, finding new ways to boost customer retention and spend.
Giving customers the gift of choice
How customers choose to communicate is radically changing, with 40% of interactions now taking place via non-voice digital channels, like SMS and Web Chat.
Whichever way customers choose to get in contact, they expect the same level of service and opportunity of resolution. With the complexity and unpredictability of customer journeys, it is vital that CX remains consistent, regardless of their start or end point.
To ‘meet customers where they are’, retailers must bring together customer and contextual data to create a seamless experience across every channel. By integrating all data in the cloud, organisations can more readily create a 360-degree view of each customer that enables consistency across every channel and touchpoint.
Whether customers opt for quick self-service options or want to speak to an agent over the phone, ensuring that the right data is in the right place to inform interactions is essential.
Going one step further, retailers can even move customers between channels mid-interaction to the right channel for the inquiry. Creating these fluid, multimodal experiences eases communications with customers along their purchase journeys.
Whether it’s dealing with disruption, personalising interactions or engaging with customers on their channel of choice, retailers must focus on what they can control in uncertain times - their communications.
From a quick automated resolution online, to a sympathetic chat over the phone, giving each customer the interaction they need in that moment helps to build trust and, ultimately, increase elusive brand loyalty.
By Jeff Woodland, Industry Marketing Director at Five9
