Across every geography and industry, innovation, transformation, and evolving business models are a norm.
The need to connect with customers, grow revenues, and capture market share as boundaries shift with changing digital lifestyles, is paramount for businesses.
The road less travelled
The pandemic exposed businesses to an unprecedented time of challenges and opportunities.
The speed and veracity of digital embracement, personal tech proliferation and overall economic volatility has created an uncertain yet tantalisingly opportune commercial landscape.
Across every geography and industry, innovation, transformation, and evolving business models are a norm. The need to connect with customers, grow revenues, and capture market share as boundaries shift with changing digital lifestyles, is paramount for businesses.
We conducted a research survey with 50 CX executives from Middle East and interviewed a few CX experts to understand the current market challenges, trends and opportunities.
Key findings from the report include:
1. Digital transformation takes centre stage. Digital transformation is being given a whole new meaning with emerging technologies opening up new avenues of exploration for CX business models. In and beyond these complicated times, DX will build brand and company salience advantage driving higher engagements. Long after product usage experience is forgotten, memories of engagements with product and company remain. Successful CX is building these positives journeys and associations.
2. Neutrality is not accepted anymore – in engagement or experience. The changing political, economic, environmental and social trends are presenting diverse opportunities. Brands and organisations have undertaken monumental shifts in customer engagement after the pandemic, ‘black lives matter’ movement, the climate change catastrophes. Brands need to demonstrate active customer empathy and clear stance in their interactions and engagements. The legal landscape in terms of data protection, thus data protection policy must be clearly articulated.
3. Today’s consumer is price sensitive. As economic pressures increase, consumers have chosen to be less brand loyal, and more adept at researching before making the choice to buy. The previous model of brand loyalty is changing. product is one element but the experience is equally important not for few, but masses.
4. Empathy has been a huge drawcard and consumer-focused brands who step up their game and deliver optimised experiences and engagement to their clients in these complicated times will be remembered and have higher loyalty compared to the competition.
5. Brands need to work harder to retain customers. Customers need their favoured brands and organisations to come through for them now more than ever. Amplified online experience and accessibility, ease of engagement and inquiry resolution, ease of payment and returns, will play an important role in the post-pandemic era and into the highly digitised future.
To download a copy of the CX State of the Market Report 2021 click here
