2016 - The Year of Customer Experience

2016THE YEAR OF THE CUSTOMER

Don’t just Satisfy,Delight!

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According to the Chinese Calendar, 2016 is the Year of the Monkey. But to most companies around the world today, it will be the Year of the Customer.

A year where Brand Competition would no longer be primarily focused on price or product features; rather, it’s going to be about providing a high quality and superior Customer Experience.




By 2016, 89% of Companies expect to compete mostly on the basis of Customer Experience, versus 36% four years ago. (Gartner)

2012 2016

Chart Title36% 89%




• Companies are beginning to realize the ROI of creating a memorable Customer Experience.

• Brands like Netflix, Amazon and Zappos are constantly rewriting benchmarks, forcing other brands in their respective verticals to step up their game, reassess their strategies and priorities.


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93% of Corporate Leaderships place Customer Experience Improvement on their list of Strategic Priorities. (Forrester Research)




• CMOs, CEOs, CX heads and even CIOs are having to adapt to the dynamic nature of consumer buying patterns through technology and other digital enhancements.

• Customer Experience improvements are being discussed rigorously in board meetings. Clear cut strategies are initiated from the top most level, so that they can have strong organization-wide impact.




By 2020, Customer Experience is expected to overtake both Price and Product when it comes to differentiating a Brand. (Biz Report)

Customer Experience

Product

Price




• Some 10 years back, price and product literally ruled the market. In many ways, the cheapest product sold the most and brands could even get away with a mediocre customer experience.

• This is no longer the case today as customer experience is the biggest differentiator in the market. Customers have started paying a lot more attention to brand experienceand how it influences their emotions.




By 2017, 50% of Consumer Product Investments will be redirected to Customer Experience Innovations. (Gartner)

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

BY 2017

50%

Customer Experience Innovations




• Brands are indeed prepared to walk the talk, with big money investments into enhancing the overall customer experience.

• 10 years ago, any expenditure for customer experience improvements would have been seen with a lot of scepticism. Not anymore. Not today!





About Cloudcherry

Cloudcherry is a Real-Time, Do-It-Yourself, Omni-Channel product helps youTrack, Measure and Improve Customer delight with analytics and actionableinsights.


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2016 - The Year of Customer Experience

Business

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