Every business knows that customer is the king. If you don’t then maybe you should back in time and never come back to the 21st Century. Customers are the king because a business survives only because they are willing to spend their money on your product. As every business realizes that they have to make Customer experience and satisfaction as one of their biggest priorities in their core set of values, the importance given to improving Customer Satisfaction and Customer experience analytic is growing. In Eric Fraterman’s Blog, he spots out the major trends in improvement for Customer Experience (CX).

The major trends in CX includes:

  1. Decline in surveys and questionnaires. As more businesses understand the importance of customer feedback, their demand for customer feedback increases but that also repulses the customers to fill out the surveys due to the demand. To tackle this, firms are making more objective oriented and shorter questions in order to get their data.
  2. Text analytics: Businesses are expanding their sources for their information, from the recorded conversations of the customer and employee at the call center to social media conversations in order to become more all rounded.
  3. Increasing their reaction rate after customer complaints. It has been noted that many businesses have decreased their time to react to customer demands in order to make customers more pleased with current or past issues. It has been noted that if a customer had a bad experience with the firm and even if the company takes no fast action then 47% of customers stopped spending. While on the other hand, when the company reacted immediately to customer dissatisfaction and issues, there 6% of the customers stopped spending while 37% increased their spending on the company.
  4. Smart phone engagement. With the increase in population who own a smartphone, it has been noted that customers are likely to spend more on those businesses who already have apps on a smartphone OS. Upcoming businesses are going to take this as a ability to help them grow as customers are able to make purchases and give feedback with a faster response.

These are the few trends which are definitely going to be noted in the improvement of Customer Experience and in order to be on the top, every business needs to treat its Customers as its King.