[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”grid” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” z_index=”” css=”.vc_custom_1652993357684{margin-top: 100px !important;padding-right: 20px !important;padding-left: 20px !important;}”][vc_column][vc_column_text]<\/p>\n
BLOG<\/p>\n
[\/vc_column_text][vc_empty_space][vc_single_image image=”3761″ img_size=”full” qode_css_animation=””][vc_empty_space][vc_column_text]Over the last few years, brands have experienced significant disruption. <\/span>And while<\/span> the <\/span>prevailing <\/span>narrative has <\/span>been centered <\/span>around<\/span> the pandemic, brands <\/span>have <\/span>actually<\/span> been<\/span> shifting<\/span> their strategies for years<\/span>.<\/span><\/span>\u00a0<\/span> One McKinsey study outlined that only <\/span>30% of all digital transformation strategies succeed<\/span><\/a>. Why? Because organizations have always been P&L focused, falling victim to the classic pitfalls that have been hurting their CX for years. Recently, on our podcast, we chatted with a Sales and Customer Experience professional from McKinsey about the six most common CX mistakes \u2013 you can check out his episode <\/span>right here<\/span>.<\/span>[\/vc_column_text][vc_column_text]When the pandemic hit, brands were impacted with the most significant disruption that has ever occurred<\/span>:<\/span> closing<\/span> their doors for more than a 1-day holiday. <\/span>The narrative <\/span>shifted to<\/span> “retail has changed.”<\/span> Digital became <\/span>imperative<\/span> as stores and <\/span>location-based<\/span> businesses <\/span>lost their ability to sell in-store<\/span>. <\/span>As<\/span> last<\/span>–<\/span>mile delivery experience<\/span>s<\/span> became strained,<\/span> s<\/span>tores <\/span>also <\/span>adapt<\/span>ed<\/span> by launching<\/span> curbside <\/span>pickup services <\/span>overnight.<\/span><\/span>\u00a0<\/span> So, if we know that experience is the battleground and that positive business outcomes are shared by brands that consistently deliver on convenience, ease, personalization, and emotional connectedness \u2026 why are brands still failing to get it right?<\/span>\u00a0<\/span><\/p>\n
<\/span>[\/vc_column_text][vc_column_text]Pre-pandemic, the narrative was “retail is changing.” Brands were focused on digital transformation: how do we enable our customers to shop online? How well are we connecting to our customers in their shopping channel of choice (mainly online)?\u00a0<\/span>\u00a0<\/span><\/p>\n
<\/span>\u00a0<\/span>
<\/span>Now, as<\/span> we approach the tail end of <\/span>the pandemic, the narrative <\/span>has become<\/span> “retail continues to change.” Consumers are returning to <\/span>stores<\/span> and we<\/span>\u2019ve<\/span> see<\/span>n<\/span> a<\/span> sharp increase in store traffic. Consumers are engaging with brands through multiple platforms and the rise of social engagement and consumerism continues to soar.<\/span><\/span>[\/vc_column_text][vc_column_text]The narrative breaks down when we start <\/span>thinking in terms of<\/span> “changes.” Retail has always been changing<\/span>,<\/span> and <\/span>it <\/span>will continue to change because retail is a consumer behavior. Our <\/span>behavio<\/span>rs<\/span> are constantly evolving. Traditional <\/span>c<\/span>ustomer <\/span>l<\/span>oyalty is dead<\/span>;<\/span> w<\/span>e are in the <\/span>e<\/span>ra of <\/span>brand exploration<\/span> fueled by digital adaptation, social media adoption<\/span>,<\/span> and consumer choice.<\/span><\/span>\u00a0<\/span>
<\/span>\u00a0<\/span>
<\/span>Brands have lost their locked-in status at a rapid pace, and their competitive moats have become shallower than ever before. Experience has become the battleground. In a recent study, 74% of customers said they <\/span>would<\/span> explore new brands if the <\/span>current brand\u2019s <\/span>online purchasing experience <\/span>wasn\u2019t<\/span> easy. <\/span>Another<\/span> 32% of customers <\/span>said<\/span> they <\/span>would<\/span> break<\/span> up with a brand after the<\/span>ir<\/span> first bad experience.<\/span><\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”grid” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” z_index=””][vc_column width=”1\/2″ css=”.vc_custom_1657290856535{margin-top: 50px !important;margin-bottom: 50px !important;}”][vc_single_image image=”3760″ img_size=”full” qode_css_animation=””][\/vc_column][vc_column width=”1\/2″ css=”.vc_custom_1657290862059{margin-top: 50px !important;margin-bottom: 50px !important;}”][vc_column_text]There are 4 key drivers that are impacting experience as the battleground: convenience, ease, personalization, and connectedness. According to research conducted at Chatter, when brands consistently deliver on these pillars, the likelihood of a customer repeating a purchase is 6X greater. Their average ticket size increases by approximately 27%, increasing customer lifetime value in the process.<\/span>\u00a0<\/span><\/p>\n