CX Conclave 2017 recently concluded on November 17 at the Holiday Inn International Airport Hotel in Mumbai. The organizers, Goldman Communications, called it India‘s #1 customer experience conference, and we don’t have any reason to doubt it! Today, we reveal everything we’ve learned at CX Conclave 2017 after attending the landmark customer experience conference.
What We Learnt at CX Conclave 2017
Besides meeting a lot of highly-experienced and influential CX leaders and having engaging conversations focused on customer experience, the event was an eye-opener for customer experience enthusiasts and professionals alike. Here’s what we learn at the customer experience event:
– Developing a CX Culture to Improve Customer Experience
If you truly want to improve customer experience in your business, it is more important than ever to create a CX-centric culture within the organization. This implies, that your customer experience goals have to be in-line with the business goals.
A mere 7% of employees today fully understand their company’s business strategies and what’s expected of them in order to help achieve company goals.
– Leveraging Innovative Contact Center Technology for Better Business Outcomes
Artificial intelligence has taken over the world by storm. Having the ability to store, analyze, and process huge amounts of customer information and derive intelligent insights is the most beneficial in improving customer experience in any industry. Because of this, the role of AI in delivering a better customer experience is crucial for modern digital businesses.
Research estimates that by 2020, AI will be a $5.05 billion market, with over $5.4 billion invested in AI start-ups. Also, By 2018, six billion connected things will be requesting support according to Gartner.
Using a chatbot powered by artificial intelligence to improve customer service is gaining popularity in recent times. It is, in fact, a preferred method for most businesses looking to save manpower and resources with technology innovation. If you’re looking to integrate a chatbot in your business to service customers automatically and intelligently, you should definitely read about customer service chatbots for automating customer service.
Chatbots will save over $8 billion annually by 2022, up from $20 million in 2017, according to Juniper Research.
We have already talked about how the internet of things improves the customer experience in the digital age. Whether it’s smart home automation or self-driving cars, IoT is destined to connect the digital world and bring us closer to the appliances we use every day. Information gathered from connected “things” could be further used to improve customer experience and provide important business insights for smarter business-related decisions.
If you’re moderately aware of what’s going on in the digital world, you must have heard about Bitcoin or Blockchain technology. Not so surprisingly, we had a ton of people asking about the role of blockchain in improving customer experience. Let’s talk a little bit about blockchain technology in the customer experience.
Did you know? Blockchain is expected to have an save banks an estimated $8 million to $12 $8-12 billion annually, according to a Accenture and McLagan research.
A Blockchain is analogous to a never-ending growing list of data records (blocks) which are linked together to form a chain of records secured tightly with cryptography. For example, in bitcoin, a user is given an address where someone sends or receives money (Bitcoins). The user’s address is associated with all transactions made from the particular address. These transactions make up the blockchain of the user’s bitcoin address.
Now, apply this example to customer experience, and you have a secure and efficient way to track and manage user interactions. For example, let’s take the case of an events promotion company looking to transcribe the speaker’s presentation. The process seems easy for one speaker – but if there are 20 speakers, you’d have to hire different scribes – each of whom might perceive the speaker’s presentation differently. If you had a blockchain, each speaker would have been a block – and the transcript of their conversation would form the blockchain.
Did you attend CX Conclave 2017? If you did, you know Ameyo gave away mug caricatures done by a professional sketch artist to everyone who visited and interacted with our CX Specialists. If you got a mug sketch, share it on social media (@AmeyoCIM) with the hashtag #CXMemories @CXConclave!