In this podcast episode, Ankesh Agarwal, Director Group Customer Experience (CX) at Majid Al Futtaim, shared valuable insights about the evolution of customer experience (CX) and its impact on businesses. With a diverse background in insights and customer experience, Ankesh is recognized as a thought leader in the industry. He discussed his transition from insights to CX, the exciting changes in the discipline, and the importance of data in making informed CX decisions.
Ankesh highlighted that customer experience is not a new concept but rather an evolution of insights. He explained that his early experience involved studying customer satisfaction and understanding their interactions with different touchpoints. However, the discipline of customer experience has grown significantly in recent years, with a focus on improving and optimising experiences.
Key Takeaways:
- Customer-Centric Approach
Successful CX initiatives start with understanding customer needs and pain points. Focusing on the customer and developing strategies to address their specific requirements is crucial for achieving positive outcomes. - Technology as an Enabler
Technology plays a vital role in enabling CX professionals to improve customer experiences. It provides tools for data collection, information dissemination, customer journey mapping, and project management, enhancing their ability to analyse and enhance CX efficiently. - Customer-Facing Technology
Technology employed in customer-facing interactions, such as self-checkouts and scan-and-go systems in retail stores, enhances convenience and reduces waiting time. By leveraging such technologies, organisations can cater to specific customer needs and offer seamless and efficient experiences. - Data Collection and Privacy
Building trust with customers is essential for collecting data. Brands must be transparent about data usage and prioritise data privacy. Ethical committees and security measures help safeguard customer data and ensure responsible usage. - AI and Insights
Artificial intelligence accelerates the analysis of large datasets, enabling professionals to gain insights faster. AI technology can provide summaries and recommendations based on extensive data, facilitating quicker decision-making. However, human context remains essential for accurate and meaningful insights. - Personalization and Predictive Analysis
AI technology enables personalization by creating customer personas and predicting behaviour. This empowers organisations to deliver tailored experiences and proactively intervene to prevent customer churn. Advancements in AI that incorporate emotional understanding further enhance the ability to meet customer needs effectively. - Immersive Experiences and AI Adoption
The future of CX involves immersive experiences through technologies like AR, VR, and the Metaverse. To leverage this potential, organisations need to adopt AI technology at scale, utilising its capabilities for improved insights, decision-making, and personalization. Ethical use of AI and prioritising data privacy are critical considerations. - Upskilling and Job Security
Rather than fearing job displacement by AI, individuals should focus on upskilling themselves to maximise the benefits of technology in their roles. AI can accelerate insights, empower professionals, and enhance the customer experience by enabling faster responses and better decision-making.
By prioritizing the customer, leveraging technology responsibly, and investing in upskilling, organizations can create exceptional customer experiences. The evolving landscape of CX presents opportunities for organizations to use data, AI, and immersive technologies to deliver personalized and memorable interactions while ensuring data privacy and ethical practices.
In conclusion, Ankesh Agarwal’s insights shed light on the evolution of customer experience, emphasizing the close relationship between insights and CX. As organizations recognize the importance of delivering superior experiences, data-driven decision-making, decentralized CX teams, and adaptability in challenging times become crucial for success. By embracing these concepts, businesses can thrive and build lasting customer loyalty in an evolving marketplace.
Grab your headphones and tune in to our episode on your favorite podcast platform.
You can also watch the full recording on our Youtube account below.
