CX Trends to Consider in 2021

Over the last year, we witnessed a meteoric rise in e-commerce; digital customer acquisition and retention strategies were top of mind for many.

In 2020, retention strategies and digital customer acquisition was top of mind regarding the meteoric rise in e-commerce. That isn't changing any time soon. Brands and businesses now see the untapped potential of digital transformations that will change the way consumers flock to any service or product they have to offer. As a result, there's an increased need to crank out digital strategies that can top or keep up with competitors in any business landscape. Customer Experience (CX) is a priority for these emerging strategies; it's the customer that dictates how a business or brand pivots, and it's the customer that helps dictate where businesses will invest. According to Forrester's consumer CX quality survey, there was a 13 percent increase in the number of brands improving their CX in 2020 from the year before, and that percentage is sure to rise again this year.

So, what sort of efforts have we seen in spicing up the CX journey?  

Understand Your Customers  

Understanding your customers goes beyond gathering simple things like age, gender, location. Those are the generic demographics that just won't cut it anymore, especially in a world of over-saturation. Getting to know your customers on a more intimate level will set your business apart from competitors. When you understand what drives them, what influences their behavior, you're able to anticipate future needs as well. 

A great example of a business doing its best to read its customers and get an in-depth understanding of what appeals to them is Disney. Their theme parks are now providing bracelets that can be scanned and allow them to study how long visitors are spending on a ride, the amount of money visitors spend at restaurants, concessions, gift shops, and more. With AI becoming readily available, we can understand and analyze this data for future improvements, future opportunities, and future growth.   

The EY Future Consumer Index recently released a study conducted from five waves of research with 14,500 individuals in 20 countries. This study identified five different consumer categories: Affordability first (32% of consumers), Health first (25% of consumers), Planet first (16% of consumers), Society first (15% of consumers), and Experience first (12% of consumers).   

Anticipate Needs

It's no longer JUST about having the best product or service. As the market in y, our industry becomes more competitive, it's key to put yourself in the best position over the rest of the competition. So how do you do that? First, anticipate the needs of your consumer. Take Spotify, for instance—their technology can study what time of day you're listening to certain music while syncing with your apple watch; it can also read when it's time for you to workout and suggest certain artists, songs, and more. The ability to anticipate needs is a priceless feature that businesses should invest time and money in if they can offer.   

Add Value To The Relationship   

No one likes a one-sided relationship. Take investing as an example. You invest in something knowing (or at least hoping) it'll pay off in fold somewhere down the line. However, we now have many brands figuring out ways to offer additional value to the relationship they've built or are trying to nurture with customers. These efforts show customers that it's not all about purchasing but creating a long-lasting relationship that's likely to turn a first-time buyer into a long-time loyal fan.   

Take Fabletics as an example. The athletic retailer offers competitive pricing for new and trendy workout clothes. In addition, they focus on inclusivity and a healthy and balanced lifestyle. In the last year, they also released a fitness app entirely free to their customers with an active VIP membership. By offering access to a fitness app at no additional cost, Fabletics says, "We care about your business, and as a thank, you here's a tool for a healthier lifestyle."   

Create Tangible Experiences  

The return of the vinyl discs is a phenomenal example of how people can transport to a tangible experience created by a simple gesture. Listening to a vinyl record creates a nostalgic feeling. It makes the listener feel like they're watching the artist live, despite listening to it from the comfort of their living room. The past year had people feeling like they were isolated and missing out on many experiences, so creating these kinds of settings from the privacy or comfort of consumer homes was a new and much-loved experience.   

Your head may be spinning with endless ideas and possibilities after reading about these trends, sure to be all over the digital marketing sphere. Still, you have to remember that to successfully launch any of these initiatives, you have to start with the right data and centralizing the way it's processed and analyzed. Need help getting started implementing strategies that will take your CX journey to new heights? Let's chat!