Customer Experience Transformation Conclave - 2023 | Mumbai Edition

Understanding the Customer Journey

Consumer Experience (CX) has become increasingly important in today's evolving business landscape. With advancements in technology, changing consumer behaviour, and increased competition, businesses must prioritise CX to stay competitive. According to a recent Forbes study, companies that focussed on improving their CX efforts were able to increase their revenue by 80%. Customers today have higher expectations and less patience when it comes to their interactions with businesses, they seek personalised experiences, seamless interactions across channels, and prompt and effective customer support.

It's important to note that the CX landscape in India is dynamic and evolving, with companies at different stages of their CX journey. As per recent research, India ranks third globally and is a leader in the Asia-Pacific region when it comes to CX maturity. Although its level may vary across industries and companies, there are notable advancements and initiatives taking place in India. Undoubtedly, some businesses have prioritised CX significantly; nevertheless, others may still have room for improvement. Even though 79% of Indian firms today agree that CX is a means to drive revenue, only 17% of businesses are able to provide "exceptional" customer service.

New-age Tenets of CX

Organizations understand this and are investing in technologies such as Artificial Intelligence (AI), Machine Learning (ML), chatbots, self-service portals, data analytics, and predictive analytics to streamline customer interactions across multiple touchpoints. Companies also invest in creating user-friendly interfaces, optimising digital experiences, and leveraging data-driven insights. Incorporating these technology solutions help marketers not only analyse data to create personalised experiences, but also to make accurate predictions about purchasing behaviour.

Today, exceptional CX requires more than just the newest technologies. At its core, it involves designing a human-centred approach to deliver a hyper-personalised experience. While many understand the need for integration, breaking down the silos continue to pose a challenge. Organisations must hence strike a balance between human and automation strategies, integrate vital data from critical apps, and create experiences that differentiate themselves in the digital landscape.

Navigating
The CX Maze

Convening and unifying senior CX leaders from across various industries, Team Marksmen Network’s inaugural edition of the CX Transformation Summit will be held on 15th September 2023 in Mumbai. This industry forum will dive into the current customer experience landscape, the role of CX in generating sustained value for businesses, advanced technologies that enable the delivery of compelling CX solutions, and maximising customer satisfaction and the bottom line.

This landmark event promises to be an exclusive gathering of brands that have transformed the CX landscape as we know it. By delving into the stories of those who have demonstrated sustained success, holistic impact, and scalability across interventions and solutions, we can help organisations find fresh inspiration from different industries and business approaches, and redouble their efforts towards delivering on the promise of customer-centricity.