6 Technologies in the European Market Shaping Customer Experience

By CIO Applications Europe| Friday, October 25, 2019

Customer Experience To cope with evolving customer demands and expectations, brands must continuously evolve using modern technologies.

FREMONT, CA: The customer is the most crucial aspect of a business enterprise. For any business to succeed, it is essential to have a loyal customer base, which is only possible by delighting customers through improved experiences. Today, customer experience in nearly every industry is driven by evolving digital technology. The business landscape is changing rapidly, and customers demand enhanced experiences. Luckily, technology is on the business' side. Keeping customers happy and satisfied is the primary goal of business, for which business leaders need to arm their employees with the right tools to use technology. There are new advancements in tech that are improving customer satisfaction. Does that sound curious? Here is a compilation of technology advancements in the European market that customer experience leaders should consider delivering a competitive advantage.

• Virtual Reality (VR)

The popularity of VR is increasing, and it is rising as a significant game-changer for brands to engage with their customers. VR offers an immersive experience that makes it possible for the customer to experience things they cannot physically interact with. Leading brands are already taking advantage of VR technology to improve both customer and employee experience. VR is currently used for virtual eLearning to train customer associates on customer service. The employees use VR headsets, which give a chance to test techniques that help workers handle situations efficiently. Brands can provide customers with the opportunity to try-out or test products and services by themselves in a virtual environment.

• Location-Based Services

With location service technology becoming a common feature in smart devices, people today are walking around with location service enabled devices in their pockets. This presents exciting opportunities, which businesses can explore to offer more personalised services to customers in a way that improves customer experience. Companies are already using location-based promos to reach out to customers at a particular geo-location with customised offers based on their location. Brands are also launching apps which allow customers to navigate their large warehouse-like stores, helping them to find products faster and easier. These kinds of apps work using a combination of VR and location-based services.

• 3D Printing

Previously, 3D printing used to be the stuff of fiction, but today, it is a reality which has begun to revolutionise customer experience by adding efficiency and transforming the way brands manufacture goods. 3D printing makes it possible to convert a virtual object into a physical one almost instantly. With 3D printing, product designers can design and print 3D product and prototypes quickly and inexpensively. This makes it possible to spot flaws in the design and fix them beforehand in the production process, saving money and preventing issues that might negatively impact customer experience. Besides improving manufacturing, 3D printing makes it possible to create highly customised products and services for users.

• Chatbots

Chatbot technology is becoming more popular as brands discover innovative ways to put them in use. Chatbots offer numerous benefits for businesses, making life easier for customers, 24/7 service availability, time savings and many more. With the help of intelligent chatbots, brands are better equipped to manage customer service functions. These virtual assistants fulfil a customers' demand for getting instant service support from a brand. Chatbots can be relied upon to seek support through voice, mobile app, instant messaging, SMS, or websites. As they promise quick responses, customer queries are handled efficiently, improving customer satisfaction and experience.

• Internet of Things (IoT)

IoT is the ever-growing network of devices from simple sensors to wearables and smartphones that feature an IP address for internet connectivity and communication between these devices and other internet-enabled devices and systems. According to reports, the total number of connected devices in European business has grown into billions, creating new opportunities for brands to take the customer experience to a whole new level.

IoT generates an enormous amount of data, which are a rich source of insights on customer behaviour and device performance to identify areas of improvement, user patterns, and more. These insights can be used to enhance efficiency, develop more robust products or create more personalised service offerings. Combining AI tools and IoT makes it possible to develop predictive models that utilise condition-based monitoring to prevent failures before they occur. This allows brands to provide timely maintenance services to fix issues before the functionality is hindered, thereby eliminating downtimes.

• Artificial Intelligence (AI)

Due to considerable advancements in the development of machine learning, natural language processing, and cognitive computing, AI is already making its way into business processes across the enterprise and is poised to have a significant impact on customer experience. Artificial Intelligence features are increasingly being used by brands and retailers in a variety of ways from personalisation to improved support and security services. Brands are adopting AI to enhance customer experience and differentiate themselves from their competitors. Big brands use powerful recommendation engines powered by AI that analyse customer search and purchase history and then use the data to make recommendations the user is most likely to value.