Talkdesk(R), Inc., a global customer experience provider for customer-obsessed companies, released its new research report, "Powering Retail Growth: The Next Generation of Contact Centers," revealing a critical gap between the high availability of solutions capable of exceeding customer expectations and their low adoption levels within the retail industry. While retail is rallying around the importance of elevating customer experience (CX), many retailers have yet to seize the potential of using their contact centers to scale personalized service. In fact, only 30% of retail contact centers are using artificial intelligence (AI) tools at scale to deliver the personalized experiences customers expect.
CX as a Key Business Driver and the Slow Implementation of AI
Talkdesk Research™ finds a majority of retailers are prioritizing improvements to CX and initiatives aimed at building customer loyalty. Fifty-four percent of CX professionals cite it as a top priority, and 87% clearly understand how their CX strategy fits into their organizations’ broader business goals. Retailers that have seen a significant increase in their customer satisfaction over the past two years also experienced a sizable increase in revenue during the same time period and expect revenue gains in the next year as well.
Yet despite a clear connection between CX and business performance, retailers struggle with the unpredictable variety and volume of customer needs (50%) and high CX operational costs (44%). Data will be key to overcoming these challenges. Indeed, almost half of retailers surveyed say that better management of customer data across all relevant channels is a top component of their CX strategy.
AI represents a key area of opportunity for retailers to use customer data to fulfill personalization expectations at scale, but only a third of survey respondents are using AI capabilities such as intelligent knowledge bases, virtual agents, and chatbots. Looking ahead, more than half say they plan to increase investments in these areas.
"CX professionals in retail understand that today’s customers expect highly personalized interactions whenever, and however, they may engage with a brand. They also understand that the AI tools required to meet and exceed those evolving preferences are available, yet most haven’t implemented them at the necessary scale," said David Gardner, vice president of research & insights, Talkdesk. "This disconnect shows how critical AI can be as an investment for contact centers. Looking forward, our research indicates that CX leaders must find ways to address customer needs, while mapping out the future of the contact center in a way that leverages AI at scale and still keeps costs in check."
The Evolving Role of Agents
Agents are increasingly instrumental to retailers’ business outcomes beyond customer satisfaction and net promoter scores. Talkdesk Research additionally shows that over 80% of retailers currently hold agents accountable to key performance indicators (KPIs), which includes new revenue generated. Nearly 90% of CX professionals further anticipate that customer relationship growth will be part of agent KPIs within the next five years.
When asked about the top challenges they face today, 42% of CX professionals equally cited: 1) consistently engaging across channels, 2) lack of capacity, and 3) effectively tailoring interactions. To overcome these obstacles and enable agents to rise to their potential as customer relationship stewards, retailers need to explore contact center technologies, including digital channels, speech analytics, and AI-enabled next-best-action tools.
"The key to unlocking the potential of agents in the new ‘agent+AI’ paradigm will ultimately be the level of support from executive leadership," said Shannon Colquhoun, vice president of industry strategy, retail and e-commerce, Talkdesk. "The entire organization should align around the role contact centers play in business growth, with investments in technologies like AI taking into account the input from agents who are in direct connection with customers and understand their needs. This healthy paradigm can elevate contact center technologies as drivers of better outcomes from the agents, customers, and the entire business."
Posted by Veronica Silva Cusi, news correspondent
Talkdesk Enterprise Contact Center Platform empowers companies to make customer experience a competitive advantage. With enterprise-class performance and consumer-like ease of use, Talkdesk easily adapts to the evolving needs of sales and support teams and their end-customers, resulting in increased customer satisfaction, productivity and cost savings. Over 1,400 innovative enterprises around the world with thousands of seats, including IBM, Acxiom, and Zumiez rely on Talkdesk to power their customer interactions.
Published: Monday, October 4, 2021
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