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5 Key Consumer Behaviors to Improve Retail CX
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Why Invest in Improving Customer Experience?
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Because it’s costing you. How much?
3
1 of 5
Took their business elsewhere because of poor customerservice
3 of 5
Ended their relationship with a business because of poor customer service as a result of IVR frustration and long phonequeues
*2016 Customer Engagement Index
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Guess where consumers go first for customer service?
67%GO TO THE
WEBSITE FIRST
46%
23%
17%
BY WAYOF...
© 2016 24/7 CUSTOMER, INC.
PCs TABLETS SMARTPHONES
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So what do customers want?
5
WANT:To contact the company through a channel of theirchoice
Self-service to be optimal
The company to anticipate their needs
9 of 10
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We’re living in the “Age of the Digital Customer”
Mobile, web and social are the new “front door”!
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The Digital Customer & 2015 Black Friday
7
Increase in US online sales on Black FridayIBM Digital Analytics Benchmark, 2015
21.5%
36% of Black Friday Sales Happened on MobileIBM Digital Analytics Benchmark, 2015
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That’s all great but… ready for the cringer?
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Merchandise abandoned every year in online shopping carts!!
Retail Touchpoints, 2015
$4,000,000,000,000
That’s 4 trillion $$$ on the table!! (Told you it was a cringer!)
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Are you present during all these digital moments?
REVENUE MOMENTS
BRAND EXPERIENCE
MOMENTS
SERVICE RESOLUTION
MOMENTS
Initiate service
Pre-purchase research
Offer premium service
Apply for Card
Cross-sell
Give feedback
Onboard
Activate
Inquiry Greeting
Shipping Status
Refunds
Payment
Acct. Mgmt. Returns
© 2016 24/7 CUSTOMER, INC. 10
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5 Key Customer Experience Behaviors
in Retail
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# 1 | Customers increasingly want to self-serve: they need information now and would like to be able to find it on their own
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# 2 | Digital experiences are substituting in-store experiences: it’s a digital world in terms of shopping needs
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# 3 | Mobile searching leads to spending: customers searching for products on mobile are more likely to spend and make a purchase
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# 4 | Omnichannel is a given: customers are using different channels to complete transactions and expect to have a consistent experience across digital and offline channels
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# 5 | Phone experiences impact customer churn: if and when customers pick up the phone for customer service, their experience will impact if they continue to do business with you (more so now than ever before!)
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Recap: Digital Customer Journeys & 5 Key CX Behaviors
# 1 Customers want to self-serve# 2 Digital experiences > in-store experiences# 3 Mobile searching leads to spending# 4 Omnichannel is a give# 5 Phone experiences impact customer churn
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What should retail leaders do to improve customer experience?
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Consider the following solutions to improve customer experience
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Add a Virtual Agent to replace FAQs or email as a channel so your customers can self-serve more easily
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Offer Chat assistance. It's more cost effective than voice and customers like it better too
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Make your IVR digital to maintain transaction history and deliver an omnichannel experience
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Drive engagement via Facebook Messenger. Offer help in your customer’s social media channel of choice
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To Learn more, listen to this webinar recording for detailed examples of how you can improve customer service & experience
Web: www.247-inc.com
Email: [email protected]
Twitter:@24_7_inc
Click here for the recording