Do these 5 things to elevate your brand and prepare for 5G
It is commonly said that customer expectations—against which they will judge their experience with your brand—have never been higher. We often hear the phrase “an Amazon-like experience,” which is frequently understood to mean easy to use, broad and deep selection, intuitive and tailored recommendations, no hassle returns, and fast delivery. Interestingly, Amazon recently fell to number 2 for online shopper customer satisfaction in the February 2019 American Customer Satisfaction Index Retail and Consumer Shipping Report. Costco received top marks in both the Internet Retail and Department and Discount Stores categories. They were noted as a value leader among online retailers with quality products at low prices also helping to keep competitor pricing in check. In addition, Costco has a 100% satisfaction guarantee and abundant services for home, travel, and more.
You may not compare your brand with the likes of Amazon or Costco, but your customers certainly do when thinking about the quality of experience your brand serves up. In Salesforce’s 2019 State of the Connected Customer report, 69% of consumers and 82% of business buyers said, “one extraordinary experience raises their expectations of other companies.” A combined 84% of these consumer and business customers said, “the experience a company provides is as important as its products and services.”
Competing on experience is even more important with the disruption 5G brings: new business models, new markets, such as IoT, and new ecosystems all create a dynamic pull for new services. 5G also provides the disruption necessary to elevate your brand as an experience leader. What can you do to make sure your brand compares favourably against the best-in-class across industries and across all facets of experience? That is a tough challenge! At Nokia, we see the following experience criteria your customers are demanding, presuming you have the catalogue of services they are wanting in the first place:
- On-Demand: the experience must be available anywhere, regardless of access or device. It must be consistent and allow seamless switching of channels and devices without needing to restart.
- Personal and customizable: make offers that are meaningful to the customer. Give them the ability to “do-it-yourself” personalize to make any service truly theirs. For enterprise, this means enabling IT organizations to adjust services to meet internal standards.
- Pay for value received: the customer cares about outcomes, not the volume of data consumed, or one size fits all bundles. Enterprise customers are likely to have contracted SLAs and KPIs that articulate the outcomes expected.
- Make it simple: the customer just wants to enjoy a great experience; do as much as you can on their behalf.
- Innovate: delight them with an evolving bundle of services with growing value, including partner offerings. Whether you’re selling to consumers or enterprise, this is key to subscription renewal and upsell.
- Care for them: the experience should just work, but when it doesn’t, make it easy to get help that fixes things quickly, the first time. For enterprise customers, proactively maintain SLAs.
Singtel seamlessly combined online and offline touch points to provide a highly personalized omni-channel shopping experience. Their stores feature interactive touchscreens, 24/7 self-serve kiosks for SIM card replacements, live bots that provide immediate assistance, an app that gives real-time updates on queue status and a QR code scanner to enable instant purchases. Their approach earned them customer satisfaction scores up to 97% and the Most Innovative Approach to Customer Experience award from Telecom Asia. *
* Yuen, K.M., Retail’s not dead. Welcome to the era of the digitally-augmented store. September 10, 2018.
How can you create these extraordinary customer experiences that will build your brand, grow customer loyalty and accelerate your business? What do you need from a partner to help you along the journey?
- Build a complete and real-time view of the customer by consolidating business, network, and social insights from all business divisions. People and processes throughout your company must work in a collaborative manner.
- Make self-service options available across every channel at every step along the customer's journey - purchasing, onboarding and customer care.
- Automate whenever possible to avoid the delays and errors that come with manual processes. Automation also reduces customer effort so they can focus on the service experience. This requires incorporating machine-learning wherever possible.
- Enable a partner ecosystem to expand innovation and monetization possibilities, with new business models to bundle and sell partner offerings and vice versa. The customer should see one charge, with payments amongst the partners determined in real-time by their relative value added to the service.
Jio puts its connectivity services at the heart of a larger ecosystem of partner services, including premium and broadcast television and movies, mobile payments, streaming music, news and magazine subscriptions, cloud storage and cybersecurity. These are backed by sophisticated analytics and insights that allow Jio to create contextual, personally relevant customer offers. **
** Nokia, 2019. Megatrends in Telecommunications.
- Provide predictive care for most issues, augmented self-care and agent-care, when required, that fixes problems quickly, the first time.
Elevating your customer experience requires a transformation of your network, operations, and business processes. But the rewards are immense for creating a loyal customer. What steps you are taking to deliver a superior customer experience? Nokia has the solutions to help you deliver the extraordinary.
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