The modern customer wants to buy a product, but they don’t want to be treated like a transaction. They’re expecting an experience—and if that experience is a positive one, then a one-time purchase often becomes a lifelong interaction with a company that understands their wants, needs, pain points and history. Unfortunately, most companies are still living in the early-digital Dark Ages, treating their customers like tickets in a queue rather than individuals with real desires and concerns.
According to a recent Kustomer survey, three-quarters of consumers aged 25 to 34, expect personalized communication from retailers, while only 60% aged 65 and older agreed with this notion. This means that personalization is becoming the new norm, especially with the younger generation, and will only continue to grow.
But instead of marshalling their vast stores of data to proactively identify and engage specific customers, many companies are still relying on outdated customer service models that waste their money and customers’ time. This misguided approach frustrates customers—and can hurt a businesses’ bottom line. Poor customer service costs companies $62 billion a year, and lack of personalization prompted 41% of Americans to switch brands in the last year alone.
On the flip side, companies that truly know their customers—everything from their previous purchases, customer service conversations, and preferred channels of communication—often experience double-digit growth, and nearly half of customers spend more when their experiences are tailored to their particular wants and needs.
To retain customers in an increasingly saturated and competitive digital marketplace, companies must learn to quickly and seamlessly address customer needs and concerns as they arise. In other words, they need to use real-time data to give them a 360-degree view of their customers—and then use that data to deliver relevant, personalized, helpful interactions that make the customer feel seen and heard. This approach will transform customers from flashing lights on hold to real people. And when customers are treated like people, they’re more likely to become not only repeat purchasers, but your most loyal cheerleaders.
To learn how to achieve personalized support in three simple steps, download our full personalization guide.