IBM Press Room — Despite the growth of connected devices and the ability to leverage massive amounts of data to better understand consumers, a study from IBM found retailers and brands are falling short on their customer experience (CX) and there is a significant opportunity to…<\/b>
\nNEW YORK\t
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03 May 2017:
Despite the growth of connected devices and the ability to leverage massive amounts of data to better understand consumers, a study from IBM (NYSE: IBM) found retailers and brands are falling short on their customer experience (CX) and there is a significant opportunity to improve CX with cognitive and cloud technologies.
The study found that the capabilities through which brands can most differentiate themselves are those that they struggle the most to deliver. This includes the store experience, personalization, and digital experience. The store experience was the lowest scoring category, where the average CEI score was only 20. Consumers are demanding the excitement and personal engagement they get on-line when they shop in stores. For example, 88 percent of brands do not have the ability to acknowledge customers as they enter the physical store. Meanwhile 79 percent of brands either do not have mobile-enabled associates or do not provide their associates with mobile access to customer information.
In terms of personalization and customization, brands are failing to meet consumers\u2019 expectations not only in the store, but also across all channels. A majority of brands in the study, 71 percent provide only generic marketing messages to their customers, and among brands that offer loyalty programs, 70 percent do not permit customers to choose their preferred form of reward. And for shoppers who want to get online and compare products side-by-side, 88 percent of brands do not provide that kind functionality, forcing customers to toggle between screens. Similar challenges exist online in terms of customer service; customers expect issues to be resolved quickly and efficiently, however 61 percent of brands do not provide online chat options, which can both frustrate customers and increase operating costs, as inquiries must then be routed through telephone or e-mail instead.
\u201cEach brand has a unique set of opportunities and actions to improve the shopping experience for its customers, \u201d said Laurence Haziot, IBM\u2019s Global Managing Director and General Manager, for Consumer Industry. \u201cThe common thread, though, is that they must use new tools and technologies such as cognitive analytics and cloud to capture data regarding people, products, preferences and store facilities \u2014 and then leverage that information at a hyperlocal level to provide a more expansive, personalized and effective experience wherever consumers want to shop.\u201d
To move ahead of the consumer expectations curve, to meet consumers where and how they want to engage, the IBV recommends the following
Engage with Customers
Provide a consistent experience across all touch points
Leverage value-add technologies:
About IBM\u2019s Institute for Business Value
For more information about the IBM Institute for Business Value visit www.ibm.com\/iibv
Download the IBM IBV app on your Android or iOS tablet.
About IBM Watson: Pioneering a New Era of Computing
Watson represents a new era in computing called cognitive computing, where systems understand the world the way humans do: through senses, learning, and experience. Watson continuously learns from previous interactions, gaining in value and knowledge over time. With Watson, organizations are harnessing the power of cognitive computing to transform industries, help professionals do their jobs better, and solve important challenges.
Watson solutions are being built, used and deployed in more than 45 countries and across 20 different industries. Watson is open to the world, allowing a growing community of developers, students, entrepreneurs and tech enthusiasts to easily tap into the most advanced and diverse cognitive computing platform available today.
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