Critical and Actionable Customer Experience (CX) Trends, 2017 Part 1

Key Developments to Drive Growth-Enabling Strategies and Tactics

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In a world of rapidly changing technologies, providing consistently excellent customer support can be challenging. Consider that companies today are developing a widening assortment of popular technology-driven products and services, as well as adding complexity to existing ones. Technology-enabled goods—such as appliances, automobiles, entertainment products, and home security systems—are growing in functionality and complexity. Many products have the ability to be connected to and managed through the Internet; hence, the Internet of Things (IoT). In addition, a dizzying array of computers, mobile devices and medical devices require high levels of technical support.

Sales, customer care and support agents in contact centers today are utilizing a much wider arsenal of communication tools - voice, video, e-mail, IVR, Web chat, file sharing, and social media. Frost & Sullivan believes that traditional voice-centric call centers are rapidly morphing into “Omnichannel Centers of Excellence and ‘Relationship Hubs’.1 Frost & Sullivan research shows that the new Omnichannel consumer wants to have access to all available channels simultaneously, including the retail in-store/in-person experience.

Examine, for a minute, how the consumer landscape has changed. Customers are demanding service on the channels they prefer, such as social media sites or mobile devices. As a result, companies today have invested in newer operational processes and solutions mapped to meet the communication needs of the army of independent, autonomous self-starters; Gen Y. This movement into new realms of specialized expertise signals the opportunity for significant BPO technology investments. This evolution could translate into an enhanced value proposition for clients and consumers. How? In essence, technology platforms and new business models will be key to meeting the complex communication needs of today’s Omnichannel consumer.

At the same time, younger customers in particular have become more impatient, demanding, and knowledgeable. More and more, Generation Y and Millennial consumers insist on “Omnichannel support”— a coherent, seamless Customer Experience, regardless of the channel through which they engage a business. This can range from face-to-face service to self-service.

This 2-part research study provides the reader with a high-level overview of digital Customer Experience (CX) trends as we find ourselves mid-year in 2017, heading into uncharted territory in 2018; giving the readership growth insights and growth opportunities to be considered in the year ahead.
This analysis presents some of the Customer Experience trends that Frost & Sullivan believes will shape, grow, and influence Customer Experience Management (CEM). The study focuses on those growth insights which are the most relevant for 2017-2018 in North America. This Growth Insight outlines the trends and insights for select industries, business models and technology areas, including:
•     Social Media
•     Mobile, Analytics
•     Big Data
•     Crowdsourcing
•     Industry Convergence
•     Unbundling of the Value Chain
•     Product-as-a-Service
•     Manufacturing
•     Energy and Utilities

Table of Contents

Critical and Actionable Customer Experience (CX) Trends, 2017 Part 1Executive SummaryKey FindingsKey Findings (continued)Research BackgroundDigital Transformation of Customer Experiences Key Trends and Growth Insights Social—Key Trends and Growth InsightsMobile—Key Trends and Growth InsightsAnalytics—Key Trends and Growth InsightsBig Data—Key Trends and Growth InsightsCrowdsourcing—Key Trends and Growth Insights Crowdsourcing—Key Trends and Growth Insights (continued)Industry Convergence—Key Trends and Growth InsightsIndustry Convergence—Key Trends and Growth Insights (continued)Unbundling of Value Chain—Key Trends and Growth InsightsProduct-as-a-Service—Key Trends and Growth InsightsProduct-as-a-Service—Key Trends and Growth Insights (continued)Manufacturing—Key Trends and Growth Insights Manufacturing—Key Trends and Growth Insights (continued)Energy and Utilities—Key Trends and Growth InsightsGrowth Opportunities and Companies to ActionGrowth Opportunity 1—Omni-channel Customer ExperienceGrowth Opportunity 2—Customer Lifetime Value (CLV)Growth Opportunity 3—Social Customer Engagement Strategic Imperatives for Success and Growth The Last WordConclusionLegal DisclaimerAppendixAbbreviations and Acronyms Used The Frost & Sullivan StoryThe Frost & Sullivan StoryValue Proposition—Future of Your Company & CareerGlobal PerspectiveIndustry Convergence360º Research PerspectiveImplementation ExcellenceOur Blue Ocean Strategy




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