Customer Insights Archives - Shep Hyken

This episode of Amazing Business Radio with Shep Hyken answers the following questions and more:  

How can companies leverage artificial intelligence to improve customer experience?
What challenges do businesses face in becoming truly customer-centric?
How does AI compare to traditional surveys in measuring customer satisfaction?
How can customer feedback effectively enhance products and services?
What role does AI play in analyzing customer churn and retention?

Top Takeaways

To meet customer needs, businesses must continuously adapt to new expectations and technologies. This means engaging with customers in modern, meaningful ways and committing to making improvements.

With the advancement of AI, customer experience teams can now manage and analyze large volumes of data more efficiently. This capability helps identify customer needs and resolve issues faster than ever before, making it easier for them to put processes in place to improve customer experience.

AI not only help with front-facing customer support but it can help identify reasons behind customer churn and dissatisfaction that might not appear in customer feedback. It can analyze behavior patterns and predict trends that help businesses preempt customer issues, and enhance customer satisfaction.

Despite the increase in CX spending from $7 billion to $12 billion in 2023, Net Promoter Scores are still declining across industries. Aligning customer experience technology investments with actual customer needs makes sure they lead to improved service and product satisfaction.

Customer satisfaction isn’t just about resolving complaints; it’s about preventing them. By understanding and improving both products and processes, companies can reduce churn and increase the likelihood of customers recommending the business to others.

The rapid changes in technology mean that businesses must continually adapt to meet evolving customer expectations. What worked a couple of years ago may no longer be enough. Keeping processes and customer interaction approaches up-to-date with modern technology is how businesses stay relevant and competitive.

Plus, Shep and Alexandre discuss what happens when companies invest in the wrong customer experience technology. Tune in!

Quotes:

“When you connect the dots between what your customers say and their actual behavior, you uncover how to improve your products and services and make great business decisions.” “You’re not using technology effectively if you’re only focusing on surface-level operational metrics. Dive deeper to understand why your users are dissatisfied, identify the root causes, and collaborate with your product team to make impactful changes that enhance customer experience and reduce churn.” “CX leaders have to stop talking about just support or operational metrics. They need to start discussing strategic goals like churn rate, retention rate, and lifetime value.” “Take advantage of the AI boom to truly understand your users at scale. Use the evolution of technology not just to deploy simple chatbots but also to delve into the root causes of dissatisfaction.”

About:

Alexandre Hadade is the Co-founder & CEO of Birdie. He has more than 25 years of experience in business, with a passion for helping businesses utilize technology to deliver excellent customer experiences. Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and host of Amazing Business Radio.