As organizations are pivoting from recovery back to growth, they face the need to redesign their strategy. Yet, while companies redefine how they operate, treat customers and employees, and the entire business ecosystem—exceptional experiences must remain top-of-mind.
Not only are consumers willing to pay more for great experiences, but 32% are ready to switch their focus after as little as one bad interaction with a brand. This shift is galvanizing businesses to move beyond CX fundamentals and reimagine their entire business through a human-centric design lens.
So what exactly is needed to meet the CX imperative in 2023? And how does it tie into the growth strategy? Let’s take a closer look at the upcoming trends.
Experience is the primary differentiator, driving over two-thirds of customer loyalty and outperforming brand and price. However, simply digitizing experiences is no longer enough. Brand loyalty is becoming hard-to-achieve as over three-quarters of consumers are actively experimenting with brands.
Businesses need to adapt their operational models by placing customers at the center of the equation. This means breaking down silos to unlock actionable insights and gain a 360-view of customers to ensure relevance at each touchpoint. Still, not many companies are organized to operate at this level — 53% of senior leaders name organizational silos as a top-five barrier to improving CX.
Understanding the humans involved — their struggles, pain points, and needs — is crucial to connect silos and deliver the right insights-driven CX. By providing salient experiences, companies can help customers feel confident about their purchasing decision and the value they derive from it, building lasting customer loyalty.
In 2023, companies will prioritize accessibility more than ever before. Digital accessibility is no longer just about compliance, it’s about delivering equally great experiences for everyone.
Consumers are willing to pay a premium to have experiences that match their expectations, and businesses that deliver on this promise reap the benefits and profits. With the growing attention to diversity, equity, and inclusion (DE&I) globally, high-performing brands apply accessible design thinking to reflect these values across customer experiences (CX). This implies embracing inclusive personas, understanding and adopting accessibility best practices, and taking an empathetic, design-first approach to products and services.
Job listings with accessibility in the titles grew by 78% over the past year. And in the upcoming year, over $10 billion in design spending will shift to vendors and service providers that commit to accessibility. And those who weave the needs and perspectives of people with disabilities into their strategic plans and experiences will get the most value and ROI.
The expansion of digital engagement channels in 2021 has reinforced customer expectations of instant and seamless experiences. Putting customers "on hold'' (with no self-service alternatives) or leaving their needs unresolved can massively impact your brand reputation. Whether it’s about solving a problem, reviewing balance, or setting an appointment—every micro-engagement should be fast and frictionless.
This, along with the emergence of conversational AI, has led businesses to the evolution of intelligent automation solutions. Chatbots and intelligent digital assistants (IDAs) get increasingly better at understanding customer intentions, requests, and providing instant round-the-clock answers. They demonstrate unparalleled speed-to-insight, liberating your talent for higher impact tasks.
Combined with live consultations, smart chatbot solutions will play a crucial role in winning customer engagement and increasing profitability. And companies who fail to deliver exceptional CX are at risk of losing 9.5% of their revenue.
Not so long ago, customer experience design has been an afterthought for many business leaders. Now exceptional CX is a business imperative. And companies that show genuine care about their customers and deliver relevant, convenient, and accessible solutions by design will come out on top in 2023, with the potential of increasing revenues by up to 15%.
What does exceptional CX mean for your business?
How are you ensuring meaningful and accessible experiences for customers today?
Let’s chat about how our Experience Design team can help you meet the CX imperative and deliver long-term customer value.
Stay tuned for more insights on CX and experience design must-haves in our “Design for Impact” blog series.