Is Your Company Failing Its Customers? New Survey Says Probably

A gap exists between recognising the value of great customer experiences and companies' ability to provide them. A new survey by Harvard Business Review Analytic Services and Tata Communications highlights this clear difference. While 94% of businesses agree that steady positive customer interactions are key to success 38% think they're doing a good job at this.

The core issue stems from the divided structure of many companies. The survey showed that a whopping 48% of participants saw poor teamwork between departments as a main barrier to building a smooth customer journey. This isolated way of working stops businesses from giving a consistent experience at different points of contact. Mauro Carobene, Vice President and Global Head – Customer Interaction Suite at Tata Communications, summed up the problem well: "Brands that zero in on single points of contact instead of seeing each interaction as part of a customer's path don't grasp what their customers need."

The problem gets worse when it comes to managing customer data. The survey shows that 39% of people who answered have trouble with customer information that's scattered and not organized well, which makes it hard to give customers personal experiences. To make things even tougher, 35% said using different digital tools and dashboards across the company is a big challenge. Technology, which people often think will fix things, is part of the problem.

Almost half of the people who answered (49%) aren't happy with how well their company's technology helps them talk to customers. This shows there's a big gap in using technology to make customer experiences better. Even with these problems, there's still some good news. The survey also found that almost everyone wants to make customer experiences better.

A huge number (97%) of people said their company plans to make things better in the next year. To do this, businesses are focusing on putting money into tools that analyze customer data, manage customer relationships, automate processes, and improve customer experiences or engagement. Alex Clemente, who's in charge at HBR Analytic Services, pointed out that making customer experiences better is something everyone needs to work on together. He said, "Making the customer experience better isn't just the job of customer service and marketing teams; every team that deals with customers’ needs to work together and do their part." Clemente also pointed out how important technology is in creating great customer interactions on many channels.

The survey results show that companies need to break down barriers, work together better, and spend money on technology to give customers amazing experiences. By building a culture that puts customers first and using data to make smart choices, businesses can build strong relationships with customers and keep growing over time.

How Separate Data Hurts Customer Experience?

The survey shows how bad it is when customer data is kept in different places. When customer info is split up between departments, companies can't see the whole picture of their customers. Not having one complete customer profile makes it hard to personalize things and can cause experiences to be different depending on how customers interact with the company.

For instance, a customer might have a good time talking to a sales team but get annoyed when they call support because the staff doesn't have all the info. This can make customers lose faith in the company. To fix this problem, companies need to put money into tools that manage and connect data, so everyone has the same correct customer info.

How Tech Is Changing the Way Customers Experience Things?

Tech has the power to cause a revolution in how customers experience things, but it works well if it's used right. The survey showed that while many companies know tech is key, they're having trouble using it well. To get the most out of tech, businesses should focus on a few main areas:

• Customer data analytics: Looking at customer data can give useful insights into how customers act, what they like, and what they need. Companies can use this info to make interactions more personal, make their products and services better, and keep customers happier.
• Automation: Making routine jobs automatic lets workers spend time on harder more important tasks, like building better ties with customers. It also helps to boost productivity and cut down on mistakes.
• Artificial intelligence (AI): Tools powered by AI have an impact on how we look at customer data, make interactions more personal, and offer smart support. For instance, chatbots can help customers right away, while systems that suggest things can tell customers about products or services, they might like based on what they've liked before.

Companies that put money into suitable tech and use it well can build customer experiences that are more captivating and tailored to each person.