Business News | Choose It, Love It and Use It - That's Customer Experience!
Get latest articles and stories on Business at LatestLY. What is that one thing that keeps customers coming back for more? Price? Yes. Product quality? Sure.
New Delhi [India], March 29 (ANI/Mediawire): What is that one thing that keeps customers coming back for more? Price? Yes. Product quality? Sure.
Experience? Definitely.
According to statistics published in Forbes magazine, 73% of companies with above-average customer experience perform better financially than their competitors. In another consumer study, 96% of respondents stated that customer experience is important in their choice of loyalty to a brand.
Today, experience isn't limited to just buying the product. The entire experience - right from getting the expertise to make a purchase decision to buy the product or service to sales or aftersales - influences the customer mindset. By providing an entire package that includes innovative solutions to identify and address several challenges, customer experience goes up a notch in building and maintaining long term relationships with customers.
The VUCA world has challenged businesses to transition to remote work, choose the right cloud strategy, automate, business processes, and protect critical data. There has been a need to reimagine operations and propel them into a digital-first model at an unprecedented speed and scale.
But what has been hindering these businesses to make this transformation quickly? The answer is finding the right skills, addressing the complexity of the transformation, and taking risk during this time while keeping up business continuity.
SUBSCRIBING TO SUCCESS
Cisco Customer Experience (CX) was launched to help customers connect, secure, and automate, to accelerate their digital agility in a cloud-first world. To help customers transform, Cisco has begun to undergo a massive transformation as a business by adopting a software and services subscriptions model. Going hand-in-hand with Sales, Customer Experience at Cisco is a team of specialists built to drive adoption, support, and renewals for the software and services subscriptions. Optimizing for today's challenges, gaining agility for tomorrow's changes, and innovating for a future redefined are Cisco CX's mantras to help customers achieve outcomes that matter, faster.
To enable this transformation and elevate customer experience, Sandeep Arora, who has taken the reigns as VP, CX India & SAARC, Cisco, says, "Our goal is to help you derive value from your technology investment. By changing our operating model and adopting a life-cycle approach to the consumption of technology, we are driving up the momentum of customer experience."
The life-cycle approach of Cisco to evolve customer experience is simple. The customer experience journey starts right from when they choose a product or a service, uses it and loves it: and comes in full circle in selecting the same product or service, which eventually leads to a subscription. The Cisco CX life-cycle approach provides customers with a clear success criteria and options to continue and accelerate innovation and transformation.
A classic example of creating evolved customer experience is the digital transformation of Westpac, Australia's oldest bank. Westpac chose the Cisco CX Business Critical Services to create a superior customer experience through digital transformation. This enabled the bank to deliver 10 times the bandwidth at 50% of the previous cost. Moreover, there was a 28% increase in application performance in over 940 branches.
BENEFITS OF FORESIGHT
To seamlessly enable users and provide flexible solutions for business continuity, subscription-based consumption models will be vital in capturing additional lifetime value from existing customers and elevating their customer experience significantly. Cisco's Annual Internet Report suggests that by 2023, around 66% of the world population will be powered by the internet, where each person will have at least 3-4 connected devices. Cisco CX will play a leading role in providing organizations with the necessary technology, business insights, and support to keep up with the global expansion of the digital footprint that will shape the connected future.
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