Podcast Audio Transcript
Mimi: Hello listeners, this is Mimi; thank you for tuning in to yet another exciting and informative podcast from us at Infosys BPM. Today, we are discussing about “Aiming for the Next-Gen Customer Experience”. And to talk about this, we have here with us, CS Sujatha, AVP & Portfolio Head – Customer Experience. Welcome Sujatha. How are you?
Sujatha: I’m doing fine Mimi. I want to say the podcast is shaping up well, and I’m happy to be part of this episode.
Mimi: Thank you. Yes, it’s nice to see our numbers improving here. It’s wonderful to have you with us today.
Sujatha, when it comes to crafting great customer experiences for our clients, what are some specific and important aspects that come to your mind?
Sujatha: Mimi, that’s an important question.
I will tell you this: Today, customers are expecting exceptionally superior experiences from service providers. They are only interested in companies that provide three key aspects of customer experience:
- Is the customer experience really enjoyable?
- Is the company easy to work with?
- Does the company meet their needs?
Companies that provide comfortable experience to customers while resolving their issues are the most competitive ones in the market today. Statistics speak for themselves. If you provide dedicated customer experience managers, you will see 60% higher customer retention rate, according to a study.
In order to provide superior customer experiences, companies need to be transparent and provide trust. There is no alternative or shortcut to this specific aspect, Mimi. And to deliver better experiences, technology plays a key role as well.
Mimi: I agree with you there. Even I as a customer have always looked for enjoyable customer experiences from companies.
I have to ask you a specific thing though. When we say enjoyable, easy to work with, and meets needs, don’t we need some specific guidelines in place to meet these? Because we see lots of companies which provide great customer experiences, but they fail to meet the actual needs of customers. How can someone do both?
Sujatha: That’s an excellent question Mimi. You are right to the point.
I would mention specific guidelines that organizations should follow in order to give enjoyable customer experience that meets needs.
- The very first aspect is trust & transparency: Companies need to be proactive in their communication with customers. This is achievable by appointing a dedicated customer success manager, as I mentioned earlier. We should encourage stakeholder mapping and consultative connects, making sure effective governance and change management are in place.
- Secondly, implement technology-led digitization: Organizations should build client business market intelligence and improve it via LEAN methodologies. Such tech-led transformation is essential to make enjoyable and easy customer experiences.
- Thirdly, we need to bring transaction supremacy. This is achievable via meaningful SLAs, improving service delivery quality, and understanding the value chain of work. For this, conduct joint workshops to understand and impact client KPIs.
- Lastly, you can’t discount the value of timely action. Implement a proper escalation matrix, succession plans, and cultural shift training.
Mimi: Excellent points, Sujatha. I fully agree.
I am sure these guidelines will bring so many benefits to organizations. Could you touch upon some of the benefits of implementing such forward-looking customer service policies?
Sujatha: Absolutely, Mimi. We continue to see several key benefits to augmented customer experiences. I will mention a few here.
First of all, you will see a drastic improvement in your bottom line. Enhancing customer experience (CX) can lead to 10-15% increase in an organization’s revenue. When customers have a positive experience, they are more likely to spend more and become loyal patrons.
As a second aspect, 77% of business leaders recognize that offering personalized support experiences leads to increased customer retention, according to a study. A satisfied customer is more likely to return and continue doing business with your brand. Good customer service makes customers more likely to come back to a brand.
Thirdly, Mimi, when given a positive customer experience, a majority of customers tend to speak up about it to more people, improving the word of mouth. Happy customers become brand advocates, spreading the word about your exceptional service.
So, to sum it up, investing in customer-centric strategies sets your brand apart and positions you as a leader in the market. Well-crafted customer experience isn't just a nice-to-have—it's a strategic advantage that drives growth and fosters lasting relationships.
Mimi: Sujatha, I never realized customer experience has such profound impact in a company’s reputation. Those are some very key points you mentioned.
I’d like to thank you for today’s interaction with us in this podcast. Thank you so much.
Sujatha: Thank you Mimi. It was a great experience to be on this podcast.
Mimi: Dear listeners, if you enjoyed our podcast today, please don’t forget to share and like it on social media. Our social handles are mentioned in the podcast page. The podcast will be available on various platforms like Apple Podcasts, Google Podcasts and Spotify, in addition to our website.
Also, if you have any queries, do reach out to us through the email address on the podcast description. Watch this space for more exciting podcasts coming up. Once again, thank you for tuning in, stay safe and stay sharp. Have a nice day!
