According to a survey conducted by HBR Analytics Services in collaboration with Tata Communications, 94 percent of respondents believe consistently positive customer interactions are very important to business success in their industry. However, only 38 percent of respondents say their company is very successful at this.
The survey also highlights some of the obstacles that companies need to overcome in order to create first-class customer relationships:
- 48 percent of respondents cite a lack of collaboration between teams as a challenge that could hinder a consistent customer journey.
- Thirty-nine percent find that customer data is siloed or inconsistent, which likely makes personalizing customer experiences difficult.
- 35 percent think that using different digital tools or dashboards within the company is challenging; this can cause problems for both customers and employees.
- Almost half (49 percent) of respondents believe that their company does not have the right technology to ensure optimal customer communication.
The survey also shows that every customer interaction is a building block that shapes the perception of a company or brand. These interactions add up to create the complete customer experience, demonstrating that individual interactions, positive experiences and business results are inextricably linked.
“Brands face numerous challenges when it comes to delivering an excellent customer experience,” says Mauro Carobene, Vice President and Global Head – Customer Interaction Suite at Tata Communications. The most important ones are “isolated data, lack of cross-departmental collaboration and working with multiple partners across different channels. When brands work on individual touchpoints instead of seeing each interaction as part of a customer journey, they don’t have a holistic view of their customers.”
The study also shows the importance of making cross-channel customer interactions seamless, consistent and personal:
- 97 percent of respondents say their company will focus on one or more customer experience improvements in the next twelve months.
- More than half (53 percent) of respondents say that their company will increasingly use tools for analyzing customer data and customer relationship management (51 percent) in the next twelve months.
- Forty-six percent plan to increase the use of process and workflow automation, while a similar proportion (44 percent) plan to increase the use of tools to improve customer experience or customer loyalty.
“This study makes it clear that the experience a company offers is often as important to customer satisfaction and loyalty as its products or services,” said Alex Clemente, Managing Director of HBR Analytics Services, commenting on the results. Improving the customer experience is “not just the job of customer service and marketing teams.” Instead, “every team that deals with the customer should have the opportunity to collaborate and contribute to it.”
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These results are part of a global survey of 264 members of the Harvard Business Review Audience, all of whom are familiar with their company’s strategy regarding customer interactions. The survey was conducted in December 2023 and is available after registration here – in English – for download ready.
