We live in a world where change is the only constant. This is especially true when it comes to customer experiences—the vital element for true business differentiation. However, organizations still have trouble capturing the benefits of an excellent customer experience. To overcome this dynamic and to meet the demands of the new-age consumer, most companies, especially larger enterprises, need to embark on a customer experience transformation.
A seamless and unified customer experience drives a willingness to pay a premium price and as per a study conducted by Deloitte, customers are 4.5 times more likely to pay a premium if the experience is superior.
A Salesforce report states that over 80% of the customers say that the experience a company provides is as important as its products or services. As a result, organizations must invest in state-of-the-art technologies that can revolutionize their customers’ journeys and help them gain a comprehensive understanding of the customer across channels. Let’s delve into the mega-trends of customer service that are further transforming CX in 2021 according to Forrester.
- AI-fueled digital experience underpin great customer experience: AI-powered self-service technologies using conversational AI and RPA help improve business processes, and prescriptive AI boosts customer experience
- Modern agent desktops empower agents to best serve customers: Adaptive desktops empower agents to meet customer needs
- Customer service technology enabling resilience and sustainability: Alternate labor model helps deliver value-added services
A CX transformation strategy is determined based on the technology adoption phase of an organization. This is done to ensure that the overall business objectives are coupled with the right digital transformation roadmap.
What is CX Transformation in the new technology-driven world?
CX transformation is the evolution of an organization’s structures, operations and communication technologies to mature its customer interactions, by creating an environment able to operate with a focus on the customer and to deliver a high-quality Customer Experience at scale.
How to Approach CX Transformation
CX transformation is carefully aligning the organization's vision with customer expectations and delivering a seamless experience via all possible channels and touchpoints with end-to-end integrated technology solutions. A simple three-step transformation approach can be leveraged for your CX transformation to become a reality. First, decide how much to transform and at what pace, depending on your industry and other deciding factors. Second, craft a CX vision aligned with your organization's mission and values. Third, create a roadmap to the transformation—a guide that helps determine which initiatives to take on and in what order.
After aligning business objectives with the CX transformation strategy, organizations identify vendors for applications and platforms that can help facilitate their digital transformation journey. Some of the most trending technologies that businesses are investing in are Contact Center automation, Intelligent Virtual Agents, Human Agent Assistance, omnichannel presence for 24x7 support, and more. The idea that you have to switch between different systems in order to get a view of your customers is frustrating. It takes time and effort just managing all these systems, data streams, APIs, etc., not to mention the hassle with maintaining multiple vendors or ensuring availability for each one.
In the existing model, the missing link is a one stop partner portal that can transform the customer experience. In order to achieve omnichannel customer experience, businesses need to partner with multiple digital technology service outsourcers across all channels such as conversational AI partner, CCaaS partner, ESM partner, CRM partner. Instead of multiple partners, businesses need a qualified partner who can help them with everything from contact center automation and intelligent virtual agent assistance all the way up through 24/7 omnichannel presence and making most of their digital transformation journey. That being said, how do we ensure that the approach to digital transformation is simple and efficient?
The Quantiphi Approach
At Quantiphi, we have a five-module approach to create highly engaging customer experiences. We ensure customers are equipped with an intelligent and co-created solution for their needs that facilitates robustness as well as staying up on changes in this ever changing environment. We create and manage automated conversations with customers, partners, and employees across all channels in one place. We’re not just building another chatbot or voice assistant – we’re an AI studio that helps businesses communicate more easily, efficiently, and naturally than ever before. Then our integration framework makes it easy to connect those bots with existing apps like Salesforce, Slack, Twilio, and others so they can do what they were made to do – talk! And now we have GateQeeper which allows us to integrate virtual agents with your telephony systems without even the need to upgrade! Now you can deliver exceptional customer experiences from anywhere at anytime no matter where the conversation starts or ends period.
It is imperative to adopt and integrate new-age technologies that deliver a seamless customer experience and in turn, increase brand loyalty. The other most compelling aspect in weaving customer experiences that reap unparalleled business profits is being a cut above your competition in every aspect, especially adopting technology that helps redesign and digitize customer journeys.
Let’s now look at a few case studies from Quantiphi where businesses have witnessed greater impacts and results with technology-led CX transformation.
Healthcare: Summa Health, a patient centered population health management organization, required a virtual assistant to answer the huge number of queries regarding COVID-19 and its impact on the community’s health as well as health services. Quantiphi developed an all-in-one chat enabled virtual assistant which is placed on the website provided assistance on FAQs, FAQs around service lines of Summa Health, patient experiences around Epic MyChart along with Appointments Scheduling and also included FAQs concerned with COVID-19 Vaccines. Read More
Public Sector: To effectively respond to the large number of incoming queries surrounding unemployment claims, the Illinois Department of Employment Security wanted a chatbot and a telephony bot. Quantiphi developed and deployed a Rapid Response Virtual Agent for the IDES website and call center that effectively assisted citizens with 3.2 million inquiries in its first two weeks of going live. Read More
Education: To effectively respond to the large influx of queries, Upper Grand partnered with Quantiphi to develop a Rapid Response Virtual Agent capable of providing quality, round-the-clock support. The bot handled 3,000 queries within the first week of implementation, creating a positive experience for students and parents and significantly reducing the workload of administrative staff. Read More
Retail: One of the world’s largest multinational retail corporations, wanted to empower their employees to unlock information within seconds. Quantiphi implemented a telephony-based virtual agent that provides 24/7 contact center support for associates with employee benefits-related queries, resulting in 40% deflection in call volumes with an average response time of 30 seconds. Read More
BFSI: In the wake of the COVID-19 outbreak, one of the clients from the largest U.S. financial services companies saw a surge in queries regarding prepaid debit cards and its benefits. An increase in wait times and lack of consistent responses led to a number of queries to be put on hold or dropped. Quantiphi developed and deployed two virtual agents on two of the client’s websites trained on 100+ custom intents in just six weeks, responding to queries. The virtual agents effectively handled over 500,000 interactions within the first 45 days of launch. Read More
The above few examples demonstrate that CX transformation has the uncanny ability to bring effective changes by increasing the topline and boosting the bottom line across various functions of the organization. Businesses are sure to receive brand advocacy and loyalty if they decide to function in accordance with frictionless and transformed customer experience led by cutting-edge omnichannel platforms and technology. ​Moreover, keys to success also include engaging with your customer early and throughout the process and employing cross-functional teams to tap into the organization’s experiences and expertise.
Where to begin
Organizations can begin by investing in Minimum Viable Products, conducting PoCs with partners and service providers, reviewing impact and performance KPIs, and determining their ROI to scale the solutions across business units and achieve end-to-end transformation.
Quantiphi, with an AI-first digital engineering approach, believes in a 4 step philosophy to empower organizations to transform their customer experience and workforce experiences by leveraging AI and automation to provide adaptive and smarter customer experiences that are hyper-personalized and infused with advanced analytics.
Interested in further exploring how Quantiphi can help your business tap into the power of AI, machine learning, data analytics, and marketing analytics for increased customer engagement? Reach out to our experts now.
