Since digitization, prospective customers of a company or brand have better access to social media and online content and therefore good opinions from existing customers can sway their opinions and in turn affect sales. Today, customer experience has become imperative to scale business growth in a competitive economy. As of now, companies are heavily investing in technologies such as conversational chatbot, use of virtual reality in retail, machine learning to process customer feedback to tailor their strategies.
Artificial intelligence (AI) is being implemented by businesses to enhance marketing content and make it more customer-centric. Organizations are also using AI to create a personalized experience for the customer to increase prospects of sale. Moreover, innovative and intuitive user interface (UI) and user experience (UX) act as the force multiplier in enhancing the customer experience quotient. The use of big data has almost become a norm to predict the market trends. Analysis of unstructured and structured data can provide us with insightful anomaly details, marketing strategies of competitors, as well as customer preferences and biases. Predictive analytics is one of the main segments of traditional analytics that is being employed by marketers to understand the possible future trends and initiate the right steps. It has also proven helpful in understanding customers’ future needs and the market development. Additionally, use of gamification and reward systems has a greater potential of attracting customers and enhancing their digital customer experience.
