Just like every business out there, also you are gathering massive amounts of data about your customers, from support conversations to feedback to revenue. Customer data is extremely valuable. Everyone agrees with it. But only a few can make sense of the data gathered and get action points that have an impact the revenue. Have you ever realized that with the help of Artificial Intelligence you can automatically get actionable insights?
To show how simple it is to have a personal data expert (AI) giving you advice when you need it the most, we have put together this webinar for you.
Join us on June 16th to see 3 practical examples of how you can increase your revenue with the help of AI-driven Customer Experience data analytics.
This webinar is brought to you by CXforum partners Aiwo, Carepage and Feedbackly.
Tommi is Chief Revenue Officer at Aiwo, one of the world’s most innovative CX data analytics platforms. Together with the Aiwo team, he is helping large B2C companies to use the power of AI/ML in customer data analysis and visualize actionable insights from tens of thousands of customer connections. Finding impactful action points from your massive CX and customer data has never been easier!
This webinar was live on June 16th, 2021. Big thanks to all the registrants and participants. We’re thrilled that the webinar had about 200 registrants! Thank you!
A good digital customer experience is proven to contribute to online customer satisfaction, sales, customer loyalty, and positive word-of-mouth communication. However, very little research has been done on the topic, especially in Finland, although digital customer experience has been a big topic in sales and marketing discussion for a long time.
The effects of using Finnchat’s chat service on e-commerce customer experience and attitudes towards e-commerce were extensively studied in 2017. The study included five large Finnish e-commerce stores and a survey was conducted for e-commerce customers who had made a purchase in the previous two months. This remains still the largest and most extensive study on the subject to date in Finland.
A total of 7228 responses were received to the study. The group comparison of the results analysis distinguished between respondents who used the help of Finnchat’s chat agent in connection with the last purchase (“chat respondents”; n = 655) and respondents who did not use it (“non-chat” n = 6573). The benefits of chat for online shopping
The research results showed that the chat service brings significant benefits to online shopping. Chat service was found to improve the sales efficiency of e-commerce visits, but also to bring long-term benefits through an improved customer experience.
The main benefits of the chat service for online stores that emerged from the study:
The customer buys more
The customer buys more often
Customer exit is decreasing
The number of recommenders is growing
Commitment to the brand is growing
Customer satisfaction is improving
Customers using the e-commerce chat service:
Recommended e-commerce 47.5 % more likely
40.7 % more likely to trust the online store
Intended to make repurchases 28.0% more likely
Were satisfied with e-commerce 27.3% more likely
According to the research results, chat agents were able to solve 72.4 % of the problems faced by the customer in online shopping. A chat conversation during an e-commerce visit nearly tenfold the probability of a customer making a purchase (an improvement in the conversion rate of 895 %).
E-commerce sales per session (= sales euros per e-commerce visit) was 1310 % higher when the visit was combined with a chat.
Customers with experience in the chat service were 39.7 % less likely to leave the online store when they encountered the problem, and the average purchase of a chat customer was 37 % higher than other customers.
The importance of the chat service in purchasing decisions during an e-commerce visit
The three most important things that customers who tried the chat service needed help in the study:
Getting more information about the products
Inquiry about product availability
Selection of suitable products
Customers needed help from chat customer service especially for things that support the purchase decision. According to the results of the survey, Finnchat’s chat agents are able to meet customers’ needs and help customers make purchase decisions. 85.0 % of chat respondents found the chat service useful when making their previous purchase in an online store and 64.1% of chat respondents felt that they would not have been able to make their purchase decision without the help of the chat customer service.
Now in 2021 interacting within websites is a very important factor in digital CX. Chat service is one big thing when interacting on your websites, but it is not the only one. We believe that creating different service layers within a website is a good way to develop the digital CX. These service layers include proactive self-service, automation (chatbots and AI), personal chat service, and expert service to solve the most challenging cases.
Digital CX – download all research data for your use From our free e-book about digital customer experience, you’ll find a more detailed summary of the results of that study. In addition to the statistics found in this article, the e-book covers the importance of the chat service in the following areas of research:
– The effects of chat conversations on customer attitudes and shopping experience – E-commerce visit manageability
– Finding information in an online store
– Trust and satisfaction with e-commerce
– E-commerce customer loyalty
In addition to this research, the e-book covers in detail how digital customer experience and holistic customer experience are formed. At the moment, this e-book is available only in Finnish. You can download the e-book from HERE.
Pietari works as a Marketing Manager at Finnchat, which as a company strives to improve the quality of the digital customer experience with its services. Pietari has an extensive work history of more than five years in the marketing office and his areas of expertise are in the field of digital marketing and content production. In his spare time, Pietari is a passionate fly fisherman who has been a member of Fly Fishing Team Finland since 2015 and has written dozens of articles for fishing magazines. Pietari can also be spotted on endurance running loops several times a week. LinkedIn: https://www.linkedin.com/in/pietari-sipponen/
Medir la experiencia del cliente siempre ha sido importante, el contexto actual ha hecho que sea indispensable. Solo unas pocas compañías o marcas pueden diferenciarse e ignorar al cliente y no entender que la experiencia al cliente sea una ventaja competitiva.
Probablemente esté de acuerdo y a la vez sepa que la recopilación de datos (CX) y la capitalización de estos, son clave para su negocio, aunque el reto reside en identificar las acciones que deben implementarse … aunque no están siempre tan claras.
Feedbackly junto con el CX Forum ha desarrollado una métrica (completamente nueva) de medición de la experiencia emocional. Este nuevo marco toma en consideración la gran variedad de emociones y cómo estas emociones impactan en los resultados de su negocio. Estaremos encantados de compartir con usted los datos y detalles más relevantes durante nuestro webinar
Participe en nuestro Webinar el el próximo 27 de Mayo, para encontrar las respuestas a algunas preguntas clave sobre cómo las emociones impactan en los resultados de su negocio y cómo puede utilizarlas para hacer crecer su negocio.
Jaakko es un apasionado profesional del CX, uno de los creadores del EVI® Emotional Value IndexTM es fundador y director ejecutivo de Feedbackly, cofundador de CX Forum y de la CX Academy y autor del manual de CX The Journey. A la vez que investigador en el área del uso de herramientas de inteligencia artificial con aplicación en el área de la experiencia al cliente. Jaakko ha sido incluido en la lista “CX Rising star” de Forbes 30 Under 30
Sobre Luigi Casanova
Luigi Casanova además de ser un emprendedor con una dilatada y exitosa experiencia en el campo CX, es un referente en el mercado Peruano, a través de su consultora especializada: Show CX, a través de la cual dan soporte a clientes (de sectores diversos) en el diseño o re-diseño y/o desarrollo de experiencias que mejoren la calidad de vida y estados de ánimo de las personas; haciendo negocios más plurales y rentables para sus clientes. Además cuenta con una dilatada carrera en la docencia, por ejemplo dirigiendo el Programas de Especialización en Customer Experience Management de la Universidad Peruana de Ciencias Aplicadas (edited)
Workplace violence is rising at an alarming rate. Although many leaders and staff are concerned, most don’t know how or where to begin to solve this horrific problem. The following is my interview with a renowned expert. I hope this resonates and causes you to become proactive toward solving this serious issue!
We are all too familiar with the violence in Columbine, at the Annapolis Capital Gazette, the Washington Navy Yard, the Kroger-owned supermarket in Boulder CO, massage parlors in Atlanta, Orange County, CA, and many many others. They have resulted in people killed, terrified employees, and suffering families. With workplace violence on the rise, it should be no surprise that 1 out of 7 Americans does not feel safe at work, according to the Society for Human Resource Management, (SHRM) known as – the voice of all things “work.”
If you are a business owner, CEO, manager, or human resource professional, it is highly likely that you are concerned but ill-prepared to deal with preventing workplace violence. How could you not be with so many employees voicing their fears.” This is according to Felix Nater, a nationally recognized Workplace Violence Prevention Advisor. Felix has thirty years of experience, many awards, and recognitions including, from the prestigious International Association of Professional Security Consultants, (IAPSC). I felt that Felix would be an ideal expert, for advice on this topic. Recently, he agreed to meet with me to discuss the subject for this ASK ALAN (business advice and idea) column.
Please help put workplace violence in perspective.
“The problem is much greater than you would think. Nearly half of HR professionals said their organization had at some point experienced a workplace violence incident—up from 36 percent in 2012. And of those who reported having ever experienced workplace violence, over half said their organization had experienced an incident in the last year.“
Many business owners deny that workplace violence is an important issue for their “small” businesses. Is workplace violence limited to the size of the business?
“This is a common misunderstanding, the answer is no. No business is immune. Small brick-and-mortar businesses with just a few employees are as vulnerable as hospitals, educational institutions, and large corporations.Another mistake is underestimating the multiple layers and dimensions of the issue. Most often, company management only focuses on prevention. To be truly effective, businesses must consider this issue in terms of security, prevention, training, and response.”
The negative media coverage seems to only spotlight active shooters. What harm does this limited focus present?
Many business owners tell me that they have trained their managers and supervisors about what to do in the event of an episode of workplace violence. What is wrong with this picture?
“Waiting for an event to happen, then acting while it is underway, is a troubling response. Workplace violence has multiple levels of complexity. There are several things that should take place before a violent situation occurs. When an event happens, determining what tactics should be employed and by whom must be planned for in advance. Additionally, every employee has a role to play if the company is to mitigate the threat and dangers of workplace violence.”
What do you tell leaders who are genuinely and sincerely interested in a safe working environment?
“I tell them that they need a trusted, objective, outside consultant, with years of experience in mitigating workplace violence. It is impossible to alleviate employee fears using internal resources alone. I also tell them, that to do this requires a process implemented through collaborative organizational engagement. The process requires management to be logical, thoughtful, and be as comprehensive as possible.”
“The process begins with a comprehensive assessment. This assessment is intended to uncover gaps in any existing violence prevention initiative that could help thwart the next homicidal threat, workplace suicide or intimate partner workplace spillover violence. Gaps may include unintentional consequences of policies, procedures, protocols, access control, visitor management, separations and discipline, and new employee screening. This assessment also includes the specific nature of the workplace, policies, plans, procedures, technology, supervision, and training.”
Once a trusted consultant/advisor is retained, what can management expect to learn, change or do differently to mitigate the risk of workplace violence?
“Management will become more sensitive and learn how to: • Recognize warning signs, risk factors, and contributing conditions • Manage situations • Be in charge of one’s behavior in managing the potentially hostile workplace • Discover what being proactive really means • Use and rely on organizational resources • Lead with purpose • Seize the moment • Assess and evaluate situations on the spot • Conduct future comprehensive worksite specific assessments • Take corrective measures with policies that are proactive rather than reactive • Report, advise, and inform all involved”
Interviewing Felix taught me a great deal about workplace violence issues that I was previously unaware of. The problems are multi-faceted and complex. They require more than a casual conversation or meetings among executives, managers, supervisors, and co-workers. To tackle the problems successfully management needs to acquire a new way of proactive leadership skill that must begin at the top. The ROI for collaborating with a qualified workplace violence specialist will be measured in the comfort level of all employees. Employees will recognize that company leaders never take the potential for workplace violence for granted.
Would you like to learn what the top performers do in the field of Customer Experience?
We wanted it as well. That is the reason why we went out there and asked nearly 500 market leaders and top performers in CX what they do regarding their CX activities, budgets, and plans for the future. What we got is a comprehensive package from practical data and a vast future outlook on where the CX market is going and how top companies are putting their customers at the heart of their strategy in the future. We are excited to share with you the key facts and insights from the Future CX Outlook Report.
Join us on April 28 to understand where the CX budgets are appointed and what the industry feels about how to quantify the ROI of Customer Experience efforts all the way to the rise of the emotional experience measurement.
To this point, we have been living in the world of simplification. And to be honest, we still do and that is a good thing. But we would need to be able to look deeper than just satisfaction, recommendations, and ease of doing business. The study of Emotional Experience shows that compared to many others, different emotions drive the highest business value.
Emotions and feelings are the biggest part of the customer experience since everything is tied to them starting from the willingness to recommend and customer satisfaction. Emotions grow or deteriorate value for a business. This also happens in a way that you don’t even notice it if you are not paying attention to it.
Emotions are the key drivers that make it or breaks it when it comes to our desire to buy or not to buy. Even more than that, if we have decided to buy, we choose which company to do business with based on the experience and what emotional drives are behind it. Today, a whopping 46% are saying that customer experience is the main driver of the purchase decision where pricing is only 20%.
According to our recent study, today the number is still low as only 6% of the professionals and managers in the industry try to measure emotions and most of them do not have a sufficient KPI for it. Mr. Colin Shaw discusses the hierarchy of emotional value in his book and study with the London School of Economics where they asked over 50,000 people from 100 industries in 40 countries to get these answers. Out of the 4.5 million survey questions answered, 1.25 million responses were about what customers want, and another 1 million answers explained what customers feel.
In other words, look beyond NPS and CES to emotions that you want to drive in your business and find a way to measure those. In Feedbackly, we’re using the Emotional Value Index (EVI®) for it (feel free to contact us to learn more about it). One way or another, the industry is moving towards measuring deeper emotions, and that is a good thing! The next big thing is to dive deeper beyond the current KPIs and use something that explains more emotions than anything else.
To understand the emotions of your customers and how the emotions impact the performance of your business, you would need to be able to measure the emotions on a large scale.
To help you do it, in cooperation with CX Forum, Carepage and Feedbackly, we’ve put together a webinar about the Emotional Experience and Emotional Value Index™. It is free of charge and you can get the recording here!