Stanley Huang is co-founder and CTO at Moxo. Previously, he was a Principal Architect at Cisco and a Senior Manager at WebEx.
How do you provide personalized customer interactions in a culture that prefers fast online service? Companies are spending a lot of money to figure that out, as the customer experience management market is predicted to top $10 billion in 2022 and exceed $38 billion by 2030.
The shift from in-person transactions to online, on-demand service has been particularly challenging for high-touch businesses in industries like banking, finance, legal and real estate that rely on building trust through personal relationships between employees and clients. These high-touch sectors have historically relied heavily on in-person human interactions to provide stellar customer service. When customers began moving online, these industries struggled to move with them.
To keep customers happy in the digital age, high-touch businesses need to use data more effectively. Collecting data at every step of the customer journey can enable you to identify patterns and actionable insights, making it possible to strategically optimize your services and communications. As a result, you’re likely to increase customer loyalty by delivering a personalized, on-demand experience while simultaneously meeting business goals.
Why High-Touch Businesses Struggle To Personalize Online, On-Demand Services
In the not-so-distant past, all customer interactions were personalized by default, simply because they were happening in person. When two people talk face-to-face or over the phone, the conversation unfolds organically, and you, the service provider, can ask questions and make recommendations in real time. Even though it’s more time-consuming and labor-intensive to work with each customer one-on-one, the results are measurable.
These days, most of us prefer to hop online to manage our finances, trade stocks, book travel, file taxes or access any of the other services we used