VizSense Insights

Not so long ago, a customer’s interaction with a brand was done face-to-face or over the phone. Companies like Ritz-Carlton, Nordstrom and Disney built their reputations on excellent customer experience training and delivery. It’s not as much the case anymore. Gartner predicts that, by 2020, the customer will manage 85% of its relationship with an enterprise without interacting with a human. This is just four years after 89% of companies expect to be competing mostly on the basis of customer experience.

As we shared in our recent eBook, customer loyalty today is driven primarily by a company’s interaction with its customers and how well it delivers on their wants and needs. Understanding and effectively developing a positive customer experience (CX) has become a requirement for any brand seeking to be relevant and combat growing competition.

CX today requires a combination of data-driven insights, friction-free customer interactions and an agile approach to meet them where they are and want to be.

It’s a fact: Today’s consumers have higher expectations of your business than ever before. 

It’s increasingly rare that a customer is loyal to a brand just based on price or availability of their products. There will always be someone who can make it cheaper and gain wider distribution.

Today, customer loyalty is driven primarily by a company’s interaction with its customers and how well it delivers on their wants and needs. Understanding and effectively developing a positive customer experience (CX) has become a requirement for any brand seeking to be relevant and combat growing competition. According to a Gartner survey, as competition and buyer empowerment compounds, customer experience itself is proving to be the only durable competitive advantage. What’s more, by the end of 2016, 89% of companies expect to compete mostly on the basis of customer experience versus 36% four years ago. How are these experiences being captured and spread? Influencers.

What are the “customer touchpoints” for your business? For many, it could be the customer service line, website, brick and mortar locations, packaging, catalogs, advertisements, and/or social media. In a multi-channel world, chances are it’s ALL of these and more.

In 2014, PricewaterhouseCoopers released a report stating that video on-demand entertainment services will be the biggest revenue contributor to the American film industry by 2017, reaching $14 billion, $1.6 billion more than earned at the traditional theater box office. It’s good news for the film industry, but a major concern for theatric-focused movie studios with films taking the traditional route into theaters.