Navigating the changing business landscape: modern CX technology leads the way

24 April 2023 | 15 Shares

Customer experience (CX) has taken centre stage in the business landscape as brands strive to create lasting, positive relationships with their clients. No longer limited to traditional post-purchase interactions, customers now engage with brands before, during, and long after a purchase and expect each step to be tailored to their individual needs.

To meet these expectations, CX technologies have emerged to enable efficient communication inside a company’s operational centres, providing valuable insights and significantly enhancing advisors’ capabilities. Innovations like gamification foster employee engagement to improve service quality.

By successfully implementing the latest-generation technologies, businesses can navigate the challenges posed by today’s dynamic environment, bolstering their operations, revenue, and customer base.

The rising importance of customer experience

Customers seek stability and reliability from the businesses they engage with. Continuity of service is the minimum expectation, but many businesses struggle to maintain service levels as the market landscape and customer preferences change. Customers are looking for brands that can provide seamless, consistent, and supportive experiences. It’s crucial for vendors to not only meet these expectations but also to ensure that their customers feel confident, supported, and heard, especially during difficult times.

By focusing on delivering such an experience and fostering a sense of trust and understanding, businesses can build lasting relationships with their customers and navigate future changes and challenges.

A study revealed that more than 65% of have greater expectations for customer service now compared to three to five years ago. The study also demonstrated that companies are struggling to meet these demands, as more than 50% of respondents observed no improvement in customer service in the past year. And that could prove damaging in the longer term.

The significance of providing an outstanding customer experience cannot be downplayed, as Gartner has reported that customer experience accounts for more than 60% of brand loyalty, surpassing both price and product. Additionally, research indicates that 71% of individuals endorse a product or service after having an excellent customer experience.

People desire convenient, personalised customer service that fosters positive emotional connections, effortless self-service encounters, and customised experiences. Enabling this brand success requires platforms that encompass a portfolio of tools and abilities. Key elements include systems that facilitate customer interaction management, promote self-service, employ built-in AI, connect various data sources, and improve workforce engagement. As a result, businesses are naturally transitioning from legacy systems to embrace cloud-based contact centre solutions.

Overcoming the limitations of legacy systems

On-premises solutions exhibit inefficient scaling and lack of responsiveness, and these issues risk subpar customer interactions. Limited reporting and analytics in legacy systems can also obstruct collaboration and decision-making. Many brands also miss out on some of the latest technological improvements in the CX space. Legacy’s inability to mimic natural language can result in poorly routed calls, increased frustration, and longer call handle times. Businesses reliant on on-premises legacy systems cannot quickly adapt to changing market conditions and customer demands without compromising service levels during necessary on-premises reprovisioning.

Adopting modern CX technologies like Contact Centre as a Service (CCaaS) served from the cloud helps businesses keep up with industry-disrupting tech and increased customer need for reassurance during fluctuating economic times.

Cloud contact centre technology offers greater flexibility and scalability, and CCaaS in particular enables businesses to adapt swiftly. By integrating various communication channels, incorporating AI-driven capabilities, and providing advanced reporting and analytics tools, CCaaS empowers organisations to deliver the type of seamless, personalised customer experiences that are now expected.

Identifying the right technology investments

Businesses investing in technology need to establish benchmarks and key performance indicators (KPIs) to measure the impact of technology investments on their business.

Trusted advisors like Five9 and Onecom can help businesses navigate. Five9 is a leading provider of cloud contact centre software, and its CCaaS solution is highly scalable and flexible. The platform offers a range of features, including intelligent routing, integrated voice, chat, and omnichannel communication such as phone, email, chat, and social media. This capability offers choice during times of uncertainty when customers may prefer one channel over another, plus it gives brands the ability to communicate better with segmented demographics.

Five9 empowers businesses to utilise intelligent virtual agents (IVAs) that use AI to handle customer tasks and enable self-service. By automating routine tasks, such as answering frequently asked questions, IVAs free up human agents to focus on more complex customer queries. Quicker resolutions for customers who can self-serve equals more personalised, nurtured support for those who need to speak to an agent. That’s a win-win for the brand and its customers.

According to the 2022 Forrester Total Economic Impact Study for Five9, a healthcare organisation achieved $15.8 million in cost savings due to the use of the IVA, allowing agents to dedicate their time to more complex queries that require a human touch. The IVA effectively managed high call volumes, ensuring calls were resolved without transfers, providing a streamlined and human-centric experience compared with traditional prompt-based systems.

The incorporation of reporting and analytics also helps businesses gain insights into their customers’ behaviour and preferences. By identifying trends and adjusting strategies as needed, businesses can maintain a strong connection with their customers and stay agile (perhaps even stay ahead) in a dynamic market.

Five9 and Onecom: Trusted advisors for CX transformation

An avenue for businesses to enhance their customer service operations is through the internal adoption of game-style technologies. Gamification employs points, badges, and leaderboards to inspire and drive agents to excel. By making customer service more engaging and enjoyable, companies can boost agent satisfaction, resulting in superior customer service and an overall improved experience in every customer-facing touchpoint.

An effective CCaaS solution will enable your agents to work more efficiently, decreasing stress levels and promoting employee engagement.

With the right technology partner and the latest innovations in CX, you can not only weather the storm of change but come out stronger and more agile than before.

Discover why businesses like yours are taking a digital-first approach to customer experience in the upcoming Five9 and Onecom webinar. Experts from Onecom, Five9, and Zendesk will be exploring how businesses can leverage the latest innovations in CX technology to deliver a seamless, omnichannel experience that drives customer loyalty and reduces operational costs. Experts will be sharing insights on:

  • The evolution of digital channels such as AI, ChatGPT, automation, analytics, and their impact in 2023 and beyond
  • How to provide personalised and nurturing support to customers in every interaction
  • Optimising contact centre performance by streamlining agent workflows
  • Setting benchmarks/KPIs to prove ROI on CX investments

Don’t miss this opportunity to learn how the right CX technology can help you set a course for a brighter future. Register your place today!