8 Ways Your CX Can Increase Revenue
Any and all businesses should be asking the question, “How can we improve our customer experience?” Not only is CX a key indicator of customer happiness, it also might be the most important metric you can measure. Investing in CX can boost your revenue tremendously – there is an 80% increase in revenue for businesses that focus on improving CX – but because it is a reflection of how well various parts of your business move together as a whole, the tricky part is finding out how and where to measure it.
Building the tools you need to delight customers, create new experiences, and run your business better is essential. Low-code has been dominating conversations around increasing team efficiency as companies begin to imagine the workplace of the future. The benefits for innovating and delivering effortless low-code digital customer experiences include reducing engineering and developer costs and conserving IT time and resources, both impacting your bottom line.
Here are the eight ways you can utilize low-code platforms to make customer interactions frictionless and digitize critical areas of your business.
1. Enable digital appointment scheduling
We’ve all experienced the back and forth of emails when trying to schedule a call or meeting. When customers have to work to book your time, they’re less likely to confirm a meeting. And, if they have to spend the first part of that meeting repeating their name and email address, you’re already waging an uphill CX battle. With digital scheduling for information capture, customers can enter relevant information inside of a self-service flow and then schedule a time to chat that works for them at the moment of intent.
2. Automate call deflection
When it comes to customer satisfaction, speed is everything. If a customer calls into your contact center, speaking with an agent might not solve their problem in the quickest way possible. It could be that they simply want to check on the status of an order they placed or retrieve other information that could be easily served up by a CRM tied to your Interactive Voice Response (IVR). Low-code SaaS software enables you to quickly build digital self-service automation in weeks instead of months, transforming a $10 call into ¢10 and freeing up your agents for high-emotion calls – all while delivering fast time to resolution for your customers.
3. Digitize paper forms
Pixels are faster than paper. More and more businesses are moving away from relying on paper forms and adopting digital processes. However, not all forms are created equal. Good UX should be easy to use and persistent, verifying who you are and keeping track of your progress across channels. Look for solutions that personalize forms based on user information and securely capture complex and sensitive information – like documents, photos, location, payment – and then pass back into your existing systems of record in a compliant manner.
4. Capture PCI-compliant payments
E-commerce is ubiquitous. Customers expect to be able to buy a pair or shoes of pay their insurance bill online with a few clicks. Meeting that expectation can be difficult if you’re using the wrong tools. Recent research from ACI Worldwide shows a 50% decline in payment-related calls following transformed payment experiences. By enabling a PCI-compliant platform, you can give yourself the power to build and embed secure payment flows easily, so you can easily capture payments anywhere using a self-service model.
5. Streamline onboarding and enrollment
While having more customer onboarding demand than you can accommodate is a good problem to have, you do need to bring on the right technologies to help you scale to welcome a new, massive influx of customers. You can build digital self-service enrollment flows to empower customers to onboard themselves seamlessly, reducing the need for hand-holding from your team during the onboarding process.
6. Leverage SMS
While your email inbox might be a mess, odds are your SMS inbox is much tidier and easier to sift through. According to Gartner, text open and response rates are 90% and 45% compared to just 20% open and 6% response rates for email. Knowing this, look for a solution that can build SMS-initiated workflows to remind customers of upcoming appointments or trigger personalized renewal offers. Those reminders can not only increase revenue but also reduce churn and strengthen personal connections with the customer.
7. Maintain context across channels
Your customers view an email to your business, a phone call to support, and a text message to a sales associate as part of the same conversation with your company. When one channel is siloed from another, that conversation can feel fragmented and frustrating. Find an omnichannel platform that unites customer interactions across multiple channels, bringing your customers’ full experiences into focus. By integrating a CX solution with your other systems of record, you get the full context of each customer’s journey along with key insights and history that defines that customer. You can then turn those insights into actionable, personalized experiences to drive up both CSAT and revenue.
8. Personalize at the individual level
It’s not enough to build a single exceptional digital experience. Each one of your customers is unique, and ensuring they have the best experience possible means personalizing at an individual level. To do this, look for personalized solutions that can integrate with your core systems, such as Salesforce or Zendesk, to trigger context-aware offers through a customer’s preferred channel of communication, whether that’s web, mobile, or voice. That way, you can remind satisfied customers to update payment or account information ahead of renewal to prevent involuntary churn or contact unhappy customers with specialized offers to stop them from churning voluntarily.
Stephen Ehikian is Co-Founder and CEO of Airkit.