Making purchases online can surely get tricky with multiple devices and varied interactions offering diverse set of possibilities. Customers are more than likely to leverage offline and online reviews, go through product profiles and abandon transactions at least a few times before moving ahead with the final purchase— involving credit and debit cards. However, hardly is there a transactional procedure that concludes seamlessly without the users having to make peace with invalid promotional codes, slow and dead pages, checkout troubles and a lot more. Therefore, life would have been so much easier for the customers if their problems were detected and fixed— way before the actual purchase is made.
Customer Experience: The Existing Scenario
Experiences synonymous to online retail have evolved with time. At present, customers prefer connecting with myriad organizations, channels and platforms— precisely for getting hold of the desired product or service. However, at least 50 percent of the existing user base experience issues when it comes to an online purchase. While 34 percent abandon transactions almost abruptly, 51 percent of the affected customer base never even turns up for the subsequent purchases.
Although certain enterprises are proactive with their retail schema and transactional procedures, a majority of online retailers are clueless when it comes to understanding the struggles of an interested customer. Put simply, there would have been a lot more money up for grabs if enterprises could embrace the newer reality and seek options for amplifying the user experience.
To be precise, there are certain ideas for leveraging customer intel and putting the same to use. This approach minimizes data wastage and offers a single point of reference to the companies— thereby helping them with sales and revenues. The premise of enriching overall user experience focuses at interpreting and centralizing customer data while fixing the issues for an optimized shopping experience. Termed as Customer Experience Management, the approach of fixing customer problems much before the inception is something that every company must look to work with.
IBM’s popular platform, the Tealeaf CX is one avenue for achieving higher levels of customer satisfaction by putting analytics to use. Tealeaf Customer Experience platform leverages user intel and associated analytics for understanding the loopholes pertaining to a retail framework and fixing them— with immediate attention.
Answering the Technical Queries with IBM Tealeaf On-Board
The CEM module starts off by answering some elemental questions regarding customer experience and expected levels of satisfaction. Be it the inception of a user-centric problem or the percentage of customers encountering purchase related issues— Tealeaf helps an enterprise identify the grey areas of a business while offering fixes and timely solutions. The CX module also answers queries regarding the impact of these problems on the conversion rates and sales percentage. Lastly, even the statistical solutions are offered— further vindicating the usage of this insightful platform.
CEM Practices and Associated Goals
With enterprises putting the CEM platform to use, it becomes all the more important to preempt the desired goals. The first goal revolves around the customer experience metrics which is monitored, in the form of KPIs. Moreover, IBM Tealeaf can also examine and respond to a host of technical issues. Although listening to the existing customers is also a possibility, it’s all about prioritizing the hindrances and fixing them— much before the user even realizes the same. The final step concerns observation and reviews, synonymous to the customer behavior in general.
The underlining concept behind any CEM module is to fix problems by knowing customers better. This strategy might include their fears, references, past purchases and anything that holds importance. That said, it is advisable that data sets are worked upon instead of relying on biased decisions. Needless to say, an organization usually encounters endless streams of unstructured data and it is important to segregate the best ones for the job.
Understanding the Outcomes
If done right, a CEM-centric strategy can certainly reap rich dividends for an enterprise. The possibilities include higher conversion rates, decent percentage of customer retention, improved levels of customer loyalty and greater outburst of internal productivity.
At the end, it’s all about solving customer-centric issues without pushing the manual workforce to the brink. Having something like the IBM Tealeaf can actually help minimize the burden on the resources. The best thing about using a CEM platform is that enterprises can do away with exorbitant budgeting which in turn improves the financial stability of the concerned organization.