Overwhelmingly Aussie Firms Say Customer Experience Is The Differentiator
The Australian Marketing Institute (AMI) and Vision Critical’s (VC) Customer Experience report revealed that 89 per cent of organisations intend to compete primarily on customer experience in 2016.
With almost 90 per cent of marketing professionals agreeing that customers are more empowered and demanding than ever before, the report highlighted the urgency and importance Australian businesses have to deliver an impeccable customer experience.
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The authors described four key insights for creating a better customer experience – build a customer-obsessed culture, understand the journey, embrace personalisation and create authentic human experiences.
C-suite marketers are worried about the disconnect between what organisations know they need to be doing to improve CX and what is actually being done, with only four in 10 agreeing that their organisation has a formal CX strategy. The study also revealed an internal experience divide between customer experience mission statements and what marketing professionals are experiencing on the ground.
Among the other key findings;
- Building a customer-obsessed culture requires whole-of-organisation buy-in. Enabling cultural change within the business is seen as important to the development of successful customer experience strategy.
- Customer journey mapping is considered a key trend set to become more influential in the next 12 months. Despite this, four out of 10 participants were not aware of a journey map being developed.
- Delivering personalised experiences to customers is also seen as a key trend, set to become more influential in the next 12 months. There is a perception, however, that some organisations currently have a poor grasp of what personalisation actually means, and that systems and databases are not necessarily being utilised to their full potential.
- Meanwhile marketing organisations face the challenge of striking the right balance between personalisation and privacy invasion.
- In an age of increasing transparency, younger generations in particular are demanding accountability and authenticity in areas such as social justice and the environment.
Deep in their dark little hearts local marketers know something is wrong. The authors said that in addition to an internal experience divide, there is the sense that organisations in Australia and New Zealand (ANZ) are not keeping up; on a global scale as well as on a local, competitive level.
“On a global scale, one in two marketing professionals feel Australian businesses lag behind other parts of the world in leveraging technology and data to their full potential.”
They also said ANZ is still considered very young in terms of utilising data and insights to inform and shape the customer experience.
It’s not all bad news. According to the study, “There are however examples of industries in ANZ that are beginning to leverage technology and data to improve the customer experience, with banks and the IT sector seen to be leading the way.”
The report argued that industries in the US such as retail are seen to be spearheading this trend.