Digitization, electrification and access to the internet have caused a spike in the growth of the technology industry with the government pushing for it too. Customers have an array of options to choose from in the market and that increases challenges for the technology industry. Consumers are constantly judging the companies based on what kind of services they provide and how they are different/better than the others in the same game. Whether it is B2B or B2C the final decision falls upon how the company is able to create awareness, provide an easy purchase process, make honest reviews available, and track the customer journey of the customer in case of past experiences/purchases. The only way to protect a company’s growth in such a case is to work on the next big challenge faced by every industry – customer experience.
Just as in every other industry, the technology industry is investing in customer experience too. Companies are rethinking their CX strategies to build a safe space for themselves in the industry.
According to the IDC report, the worldwide spend on CX technologies is said to reach $641 billion by 2022. Those numbers give us an idea of how every industry is trying to make strong customer experience strategies keeping customer satisfaction in mind. However, customer experience management (CXM) comes with its own set of difficulties that consumer electronics companies must tackle carefully.
Promoting customer loyalty: a significant challenge in the technology industry is promoting customer loyalty. This issue arises from the fact that consumer electronics companies sell various products. Customers have a myriad of competitors to choose from and will do so if they feel that your company is lacking in any service that they expect (beyond the product). Offers and discounts have played a major role in customer loyalty but that is not enough for the new consumers in the technology industry. They want proactive management, fewer or no delays, transparency in communication and company values, fast responses and solutions to problems that they are facing. Most of all they want their journey to be seamless. The top consumer electronics companies are looking at using the data they have collected about their customers in a way that can create a smooth customer journey and also help with making necessary changes to products and services to maintain stable customer retention. Your customer should be able to fully make use of the products and services you provide without having to face too many challenges in the process. Companies have to move past the age-old technique of reducing prices because it has been proven that the new-age customer does not mind spending more as long as the services provided are unmatchable.
Retail touchpoint: it is incredibly important that a company attend to every customer equally. Some customers enjoy the independent self-service format of exploring when making a purchase whereas others want to be able to view the product and make a decision based on the touch, look and experience the product has overall. In fact, it is proven that the majority of the customers visit at least two exclusive brand outlets (EBO) before they make a purchase. Considering this, companies must be able to schedule a visit, provide an outlet that is near the customer, provide the right information through their website/management and cater to effective communication when need be. Consumer electronics companies in the technology industry are looking at providing different types of services to different types of consumers. It is no longer a one-strategy-fits-all. An omnichannel approach toward customer experience must be adopted for companies to satisfy every customer. Companies should be available on every level and medium that the consumer wants to communicate with. Customer experience in the technology industry ensures that data used from surveys, analysis and metrics are used in a positive manner to guide companies through every touchpoint.
Post-sales customer experience: cx is not a one-time job, it is a continuous process that requires dedication. A customer journey does not end with a sale. Post-sales servicing is also a chance for a consumer electronics software or hardware company to provide a good cx. This is where many companies lack because they have outsourced the job to third-party companies. They take too long, delay services and do not respond swiftly; all of which create frustration and a negative impact on the company. This also happens to be a reason why customers may refuse to take your services a second time around. Companies should streamline the process, make it easier and be able to schedule a service request instantly without causing meaningless delays.
Customer-centric approach: a lot of consumer electronics brands and other technology companies forget about the customers and consider sales as the primary motive. A company must be able to retain its brand value while simultaneously increasing its sales. Too many technology companies in the technology industry are facing a challenge trying to make their company more customer-centric after working on sales alone for decades. A customer-centric approach brings about an increase in the Customer Lifetime Value, gives you an advantage over your competitors and increases customer retention while reducing churn. Companies should be able to recognize the sentiments of the customer, track and map their journey and provide an experience that delights them. Customer experience strategies ensure the customer feedback that is available to companies is used in a way that can transform the outlook of the consumer towards the company.
Consumers want the smartest, tech-savvy larger-than-life objects that make their lives digitally powered, easy and convenient. The tech industry is overcoming multiple challenges as it is, new technologies, innovations, and creating relevant and affordable solutions for day-to-day problems in the consumer’s life. This is obviously coupled with failed prototypes, impatient consumers, customer reluctance, etc. At such a crucial stage with the market overflowing with the competition that is ready to take over any challenge, it is important that companies work towards their customer experience to retain their customers. CXM can work on the current trends in the consumer electronics industry to create strategies using surveys, data and metrics that eventually work towards customer satisfaction. Businesses in the technology industry must be able to identify the pain points of their customers by tracking the customer journey. The goal of all consumer electronics companies now must be to increase customer loyalty and satisfaction through groundbreaking customer experience methods.
Our CX solutions are focused on transforming the total customer experience through surveys, metrics, analytics and auditing by using the CXM framework to combine physical measurements with digital Platformation™ capabilities. We are committed to finding the right customer experience strategy that can lead to a competitive advantage.
Sonata GBW is a global technology company specialising in customer experience CX measurement, platform-based digital transformation, supporting businesses to become connected, open, intelligent and scalable. Global coverage of more than 105 markets with over 27 years of market leadership through extensive measurement capabilities, powerful and intuitive reporting and analytics platforms give us the leverage to improve customer experience. It has presence across USA, Canada, EMEA and APAC regions. If you would like to know more about how we can assist you, please fill out the business enquiry form below.