Welcome to the Juice Newsletter: EP 2!
Welcome to the Juice Newsletter, your go-to source for weekly CX and CS thoughts! I’m Brian, Head of Growth & CX Insights at Kustomer. Get ready to dive into today’s top insights and strategies.
CX INSPIRATION
I personally don’t follow many earnings reports, but what came out of Starbucks last quarter was super interesting.
Their latest report highlighted longer wait times, contributing to a sales decline. Reducing wait times is crucial, but aiming for zero isn’t the goal.
Complete automation might sound efficient but lacks the human touch that makes Starbucks unique. A bit of friction creates anticipation and opportunities for upsell.
How are you balancing efficiency and the human touch in your CX?
CX SPOTLIGHT
Building Trust From the First "Hello"
Consumer trust levels in the US are at an all-time low. According to the Edelman Trust Barometer, trust peaked in 2017 but hit an all-time low in 2020. Despite some recovery in 2021, trust in US brands remains highly volatile.
This is why Kustomer starts the CX journey at “hello” instead of “help”. Trust is fundamental in customer support because great relationships are built on trust. Just like in our personal lives, trust is the foundation of any strong relationship.
For your business, trust can translate into significant benefits:
- Higher Customer Lifetime Value:
- Companies that build trust can see up to a 30% increase in customer lifetime value.
- Higher Customer Retention:
- According to PWC, 87% of consumers will walk away from a brand if they don't trust it.
- Positive Recommendations:
- Accenture found that 83% of consumers who trust a brand will recommend it to others.
In my experience, trust is not just an abstract concept but a tangible asset that can significantly impact a company’s success. Brands that prioritize building trust will see enhanced customer loyalty and better overall performance.
INTERVIEW INSIGHTS
I recently hosted a LinkedIn Live with Jess Cervellon, previous VP of Customer Experience at Feastables and Founder of Open Collective. Here are the key takeaways from our conversation:
Evolution of AI in Customer Support
Jess pointed out that AI has always been part of CX, but generative AI, like ChatGPT, is the latest evolution. Previously, AI was more intent-based, handling tasks like navigating through self-service options. Now, AI can engage in conversational dialogues, making interactions more natural and personalized.
AI as an Additional Headcount
AI should be viewed as an additional team member. It can handle repetitive tasks, allowing human agents to focus on more complex issues. This not only improves efficiency but also enhances the overall customer experience by providing faster and more accurate responses.
Implementing AI, Where to Start
Jess advises starting with the most common inquiries in your customer support channels. Identify high-volume, low-complexity issues that can be automated. This approach allows you to free up human agents to handle more complex, retention-focused tasks.
For more details, check out the full LinkedIn Live session where Jess and I dive deeper into how AI is transforming customer support.
GOLDEN NUGGETS
Must-Read Posts:
- Customer Experience Gets Worse Again
- Macy’s SVP Says Winning Back Customers Brand’s Top Priority
- AI Enhances Customer Experience by Behaving Like Humans
- Rekindling the Urgency for Employee Mental Health in Customer Experience
BRAND SPOTLIGHT
4 Tips for Building a Seamless Customer Journey
Customer experience has never been more important for DTC businesses than today. Join a panel of experts in the industry for a live webinar where they will share their insights and stories to help you create an unforgettable customer experience. Here’s a sneak preview of the topics you won’t want to miss:
- Capturing customer data
- Maintaining consistency across the entire journey
- Improving CX with technology
- Creating individualized shopper experiences
This is a rare opportunity to learn from those that live and breathe CX.