Never miss an insight. Many companies are already demonstrating their understanding of what matters to customers as well as innovative ways to meet their old and new expectations. Please click "Accept" to help us improve its usefulness with additional cookies. The bar for digital excellence, already high before the pandemic, has gone through the roof. These early movers offer a valuable point of reference for how to proceed. Blake is the author of two books on customer experience. 0000011350 00000 n Success in digital channels also has the potential to reduce the costs for in-person sales and increase reach: the greater shareability of virtual experience enables satisfied customers to become advocates. Given embedded fears about public health and excitement about innovations in contactless operations, safe approaches to offering products and services will be critical. Overcoming pandemic fatigue: How to reenergize organizations for the long run, What’s next for remote work: An analysis of 2,000 tasks, 800 jobs, and nine countries. An early application allowed the team to respond to delays and cancellations more effectively. In the next normal, winning companies will capitalize on opportunities to adapt to evolving customer behaviors, deliver short-term business success, and strengthen their long-term strategic positions. With these lenses, we segmented activities into four quadrants: Fast accelerators, which include offerings such as telemedicine, have grown 91 percent since the pandemic hit, with 48 percent of consumers expressing an intent to embrace them in the longer term. Customers are significantly scaling back their spending across nearly all categories, anticipating tougher times ahead. Instead, executives should consistently monitor business trends—what is growing, stagnating, and declining—against their current business strategies to identify new opportunities in the fast-accelerator and potential-to-stick quadrants. 0000030099 00000 n Among the most vexing challenges is determining which customer behaviors and trends are here to stay and which ones will eventually recede. She is the author of the new book "The Customer Of The Future: 10 Guiding … 0000004218 00000 n 0000014466 00000 n The environment and customer preferences will continue to evolve, so companies should be prepared to adapt, iterate, and operationalize changes across the organization. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. 0000008819 00000 n The Future 5 Customer Experience Trends For The Next 5 Years From pre-mortems to predictive analytics, companies are leveraging technology and new thinking to attract, acquire, and … To get a better understanding of the next normal’s contours, our analysis evaluated consumer trends along two criteria: user growth since the pandemic hit and the likelihood that these behaviors will continue (exhibit). 0000035943 00000 n As companies seek to ensure that their products and services are firmly positioned in the right-hand quadrants, they will have to balance competing factors. Successful companies have used an agile, iterative approach and design thinking to identify new digital opportunities beyond their comfort zone. 0000004983 00000 n Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. Digital upends old models. Something went wrong. August 18, 2020 ... Elevating the Customer Experience: A Case Study. Research done by customer … 0000029615 00000 n Students as Customers: The New Normal in Higher Education Bea González | Vice President for Community Engagement, Syracuse University Delivering an exceptional customer experience is no … Subscribed to {PRACTICE_NAME} email alerts. This often means being more proactive and responding in real time, requiring companies to harness data and analytics tools that can extract immediate customer-experience insights and overcome the short-sighted and reactive nature of surveys. Please email us at: McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android device. 213 0 obj <>stream 0000013028 00000 n This is "VRSCE2020 Day2: Technical Session 2 - Elevating Customer Experience Excellence in the Next Normal" by ExpoSim on Vimeo, the home for high quality… We use cookies essential for this site to function well. Elevating Customer Experience Excellence in the Next Normal July 22, 2020 Randy Gosda Companies that make the right investments now could build an enduring advantage in serving … Companies that have already laid the groundwork prior to the crisis will have an advantage, but all organizations can make meaningful progress with careful decision making. The customer experience landscape is evolving with each passing week, so companies can’t “set it and forget it” and still expect to stand out. Nearly all organizations, whether traditional companies or start-ups, are reorienting their business models to be more digital. Several themes have emerged. Elevating customer experience excellence in the next normal Companies that make the right investments now could build an enduring advantage in serving customers. McKinsey Global Institute. Companies that capture all customer data, not just that of survey respondents, will gain a more accurate view of customer needs and expectations. Three … Digital channels will help companies both meet changing customer needs and expectations and prepare for future industry disruption. It’s highly likely that consumers will prefer to use many of these digital offerings after the crisis. Orange redesigned the product for simplicity and a customer experience that could be intuitive and satisfactory while remote. With a consistent commitment to enhancing their core customer experience, it recently sold to Unilever for $1 billion. Cô±Ö&Kåð Qf`‘f ‡/ŸärF Þ` 9áQÇ 0000004255 00000 n To broaden its online reach in China, the carmaker partnered with Alibaba on a Tmall online store. May 26th, … by Jay Bolling September 12, 2014. by David Zaritsky September 12, 2014. McKinsey COVID-19 US Consumer Pulse Survey, April 2020. Overall spending is expected to decrease by 50 percent across all consumer categories, but certain shelter-in-place necessities will rise: groceries (up 14 percent), entertainment (up 13 percent), and household supplies (up 3 percent). To expand their virtual presence, companies will need to assess their capabilities and then determine how best to augment them. The grocery chain designed a fully “click and collect” store to fulfill online-order pickup. More than ever before, this is the time for organizations to invest in building these capabilities and taking advantage of all digital-learning tools that are now available to us. xref For more, see “ Elevating customer experience excellence in the next normal ” and “ Adapting customer experience … Three priorities will be key. In immediate response to the pandemic, some companies instituted policies to safeguard customers. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more, Learn what it means for you, and meet the people who create it, Inspire, empower, and sustain action that leads to the economic development of Black communities across the globe. Every possible activity—from meals and groceries, to finance and education, to fitness—now has a digital or online equivalent, many of which have seen soaring usership. The study was based on companies with an average annual revenue of $1.08 billion, but across the board, organisations of all sizes can expect the business benefits of customer experience excellence to include increased customer loyalty and retention, reduced churn, higher lifetime customer … We believe three priorities will define customer experience in the post-pandemic era: digital excellence, safe and contactless engagement, and dynamic customer insights. 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