The customer experience (CX) is becoming increasingly important to companies. Since businesses offering stellar CX differentiate themselves from the pack, embracing cutting-edge CX solutions needs to be part of your strategy. Today, real-time CX technology is making waves in nearly every industry, allowing organizations to adapt and respond with greater ease and faster than those without it.
If you are wondering what real-time CX technology is and why it is critical to your success, here’s what you need to know.
What Is Real-Time CX Technology?
In most cases, companies monitor CX after the fact. Businesses send surveys out to customers who’ve interacted with the organization, hoping that their responses will provide critical insights for improving CX. And, once those replies are received, they aren’t always examined immediately.
The issue with this approach is it focuses on a retrospective methodology and may not provide an accurate picture of the customer experience. Companies aren’t made aware of issues until well after they occur. As a result, the same problem may end up pervasive over a period, harming customers’ impressions of the organization.
Additionally, since not all customers participate in follow-up surveys, organizations typically don’t receive information about every incident. As a result, businesses can only react to problems instead of making proactive changes in moments where intervention could matter most.
With real-time CX technology, companies are empowered to be proactive. Data can be collected and analyzed near-instantaneously, and critical insights are delivered as soon as possible. While real-time CX can include feedback surveys, it also embraces other mechanisms for quick-delivery of information. For example, it can monitor customer decisions during their journey, gathering and reviewing data in mere seconds after it’s provided.
How Real-Time CX Makes a Difference
Real-time CX technology facilitates better decision-making, both after the fact and while the customer is still in the funnel or engaged in contact with a rep. Data points can be evaluated continuously, providing critical guidance for managing a single interaction or broader recommendations based on identified patterns that indicate there may be shortcomings.
Essentially, it allows companies to be incredibly proactive, empowering them to alter their approach at crucial moments. This can improve an individual customer’s experience quickly, resulting in better outcomes. Then, lessons learned can be applied elsewhere, enhancing CX across the board. In either case, customer retention improves through the elimination of frustrations and enhanced overall experience.
Additionally, real-time CX technology can assist in securing new customers. Since customers continue to place a high degree of importance on their experience, crafting a reputation as a leader in this area can encourage those who may have turned to a competitor to choose your products or services instead. You’ll earn positive word of mouth and have the ability to back it up, both of which can increase conversions and strengthen loyalty.
While real-time CX technology is relatively new, it is already shaping the future of the customer experience and customer expectations. By embracing it today, you can position your company as a leader in the space, allowing you to stand out from the competition.