Customer Centricity Summit Will Discuss These Critical CX Strategies

Backed by case studies and real-world examples, the summit and awards aim to present proven strategies for uplifting customer experience (CX) in the age of AI.

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  • [Image source: Krishna Prasad/MITSMR Middle East]

    Customer Experience (CX) could be a brand’s most strategic asset and differentiator in the age of commoditization. With a multitude of options to choose from and a drastically short attention span, CX could tip the scale in a brand’s favor. 

    As organizations advance with new-age solutions, it is critical to examine how well a particular strategy delivers on its promise and evolves accordingly. Marketers must constantly look out for changes in consumer trends and unforeseen technological developments.

    The Customer Centricity Summit and Awards 2024, presented by MIT Sloan Management Review Middle East (MIT SMR ME), will explore the winning CX strategies of leading brands. The two-day summit, scheduled for September 18 -19, 2024, in Dubai, UAE, brings together MIT professors, industry veterans, and thought leaders in marketing, CX, branding, and academia to break down the formulas behind their proven success.

    Research has shown that a single negative experience can turn customers away for good. The way out is to implement real-time analysis of friction in the customer’s journey and resolve them immediately. 

    Besides instant resolution, real-time insights into customer behavior and experience also enhance customer retention. By immediately rectifying an issue, brands improve customer satisfaction, ultimately gaining loyalty. 

    The Customer Centricity Summit aims to highlight the burning questions around real-time CX insights and discuss efficient solutions to the prominent challenges. The session, Are Real-Time Customer Insights Driving Your CX Decision?, will address how the personas can be updated instantly with every customer interaction and attempt to answer questions like “Who are my serial returners?”  “Who is likely to purchase now?” and “How do I improve repeat purchase rates?” 

    While instant resolution helps a customer stay, efficient support with queries goes a long way in improving a customer’s experience with a brand. Fast and personalized support is the expectation, and customers accept no less. But there is only so much human agents can do. Automation has been ingrained as a helping hand by many brands, and those without it are left behind in the race. 

    Exploring this topic in depth, focusing on the conversational support funnel, and combining proactive, self-serve, and human support capabilities can offer smooth customer service. 

    The tech talk, Automation That Can Give Your Customers The 24×7 Support, will discuss how automation can help agents progress through endless ticket backlogs and long waiting times. Analysis of support agents’ routines tells us that frequently asked questions (FAQs), common or known queries, and repetitive questions are among entities that can be taken care of with chatbots trained on customer data. The more critical and complex questions that need detailed assistance can be directed to human customer support agents. This enhances the overall agent experience and further impacts customer experience positively. 

    However, on many occasions, the long-planned strategies simply fail to work, and a slight error in any customer-facing function can lead to a negative experience. While it might pass for an old customer, it could result in the brand losing a new one. “Every time a customer encounters a self-service dead-end, it’s not just a moment of frustration; it’s a micro-fracture in the relationship,” says Dennis Wakabayashi, known well as The Global Voice of CX. Clearly, these moments cause long-lasting damage to a brand.

    Attendees can learn to contain and correct after a bad customer experience. According to a study of US customers – a brand could lose one-quarter of its customers in a single day – after just one bad experience with your product or brand. The session, The Anatomy Of A Bad Experience: Can Disappointment Be Turned Into Delight?, will tackle the immediate next steps to stem the situation and explore how to use it to implement systemic fixes as a long-term solution.

    The Customer Centricity Summit and Awards 2024 promises to showcase multiple discussions on the igniting trends in customer experience and how winning brands are executing to lead in the challenges.

    The root of all marketing decisions can be tracked to the customer’s psyche. By understanding why, when, and how consumers make a purchase, brands can modify their marketing strategies and elevate their chances of success. However, what’s further interesting is whether marketers can influence customers’ buying decisions. Addressing this conundrum and looking into the potential for marketers to utilize consumer psychology can help tailor marketing approaches. 

    The session, A Behavioral Psychologist’s Guide To Consumer Decision-Making, will examine emotions, social cues, and subconscious biases to elucidate the intricate mechanisms that shape individuals’ purchasing behaviors. Drawing upon insights from a behavioral psychologist, it will navigate the labyrinth of the human mind to uncover the hidden drivers behind consumer decision-making processes.

    Like every other domain, the world of customer experience is now integrating Artificial Intelligence (AI) to improve outcomes. Whether to adopt AI for CX functions is no longer an option; it’s a necessity. The next question for CX leaders is only to decide where to begin, and how to best leverage the transformative power of AI to benefit their business. In the panel, The AI Adoption-Payoff Curve – Making Moves For CX Wins, experts will highlight the variables on the AI adoption curve, highlighting successful implementation use cases across organizations. 

    An MIT SMR study found that 72% of executives use generative AI tools, with 21% seriously considering them. About 74% of respondents are very comfortable using generative AI for work, while 26% are somewhat comfortable. They use it for automating tasks (44%), content generation (21%), and data analysis (35%). 

    The Customer Centricity Summit and Awards 2024 agenda aims to tackle the challenges CX leaders face at the enterprise level by offering practical solutions that can be implemented at your business. 

    Click here to register.

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