The Consumer Electronics industry in India, which was valued at $10.93 billion in 2019, is expected to reach $21.18 billion by 2025, clearly indicating that the expected growth is humongous. Most of the growth can be attributed to the constant changing and upgrading lifestyle of individuals, increased demand from households, and easier access to credit facilities. Apart from this, there is also a hike in the demand from the rural market as the government continues to invest significantly in electrification and access to the internet.
Consumers now have multiple options to choose from and this has led to multiple growth challenges for consumer electronic companies. The final buying decision for any appliance is dependent on multiple factors including initial awareness, ease of purchase process, online reviews, past experiences with the brand, its value, and much. Hence, the companies have to protect their existing market share and also plan to grow in the face of such uncertainty. CX is going to play the role of key differentiator here and hence, the need for investing in a great customer experience across the buying journey is more important than ever. Companies are forced to rethink and recreate their CX strategy across the various touchpoints in the customer journey right from creating awareness to promoting loyalty and explore the adoption of disruptive technologies to maintain a competitive edge.
Do you know – Worldwide spending on CX technologies is expected to reach $641 billion by 2022 (As per the IDC report).
In this blog, we’ll cover a few of the key challenges that companies are facing and their solutions.
Considering the fact that most consumer electronics companies sell more than one product, for brands to get maximum revenue from each customer, they’ll have to ensure customers consider them first before going to a different brand. How can companies do that? By promoting customer loyalty. Unfortunately, most consumer electronics companies in the industry are struggling when it comes to driving customer loyalty.
A recent McKinsey study showed that the average loyalty of customers for the industry is less than 20 percent which is considerably low.
How to tackle:
Today companies cannot buy customer loyalty just by giving offers or discounts but instead, they need to focus on delivering great service and effective communication. In fact, in a recent survey conducted by Vernacular.ai, over 80 percent of the respondents mentioned that the above two factors play a critical role when buying from the same brand.
Here are a few steps they can you can take to drive customer loyalty-
.
Retail touchpoints still are very important and can’t be ignored. In fact, about 75 percent of consumers still prefer to visit an exclusive brand outlet (EBO) or a multi-brand outlet (MBO) to evaluate and compare brands. On average, customers visit two EBOs before making a final purchase and the reason is that live demos, physically viewing, touching, and experiencing products are important and influential at the moment of purchase. Few challenges faced by customers in finding a brand outlet and knowing more about a product from the store are:
How to tackle:
To solve the above problems, companies need to create a simplified mechanism for customers to get all relevant information at ease. It has to be something that’s suitable for both, tech-savvy and less tech-savvy individuals.
One of the biggest nightmares for customers is to get their products serviced. Where most companies promise to service within a few days, the process ends up taking weeks together and this delay not only creates frustration among users but negatively impacts their brand perception. The reason for the same is, a lot of brands have outsourced their servicing to third-party companies. This has created a communication gap.
How to tackle:
To provide their customers a seamless service experience, companies need to streamline the process. They should first try to make it easy for the user to schedule a service request. One method to do this is by using a single number for scheduling a service appointment, updates, and learn other information as multiple numbers can create confusion and make the process even more cumbersome.
In the mission to increase their sales, consumer electronics companies have forgotten the importance of being customer-centric. The customer experience provided by most brands post-sales is significantly deteriorating as they take after-sales service as a cost and keep cutting the corners. Brands often forget that a bad experience in claiming a warranty directly impacts key metrics like lifetime value (LTV) and retention.
Today, for brands to succeed, they need to line up their organizations in accordance with the customer’s needs across the various touchpoints. They are required to create those “WOW” moments that customers may cherish for the future. Getting a product replaced/repaired or claiming a product warranty without any hassles with minimum brand interaction is a few of some examples.
Here are few advantages of a customer-centric approach-
To avail these advantages, companies need to thoroughly understand the behavior of different customer segments and making necessary changes to their approach.
Voice bots can be used to schedule servicing/demo bookings, locate nearest retail outlets, knowing the status of a product replacement request, and much more. The implementation of voice bots in industries like banking, food & beverages, e-commerce, etc has resulted in increased CSAT scores and a reduction in call handling times.
It’s crystal clear that apart from creating quality products, consumer electronics companies need to focus on the customer experience. It’s the single most important element that will differentiate their brand from the competition.
Investing in providing a great experience at every stage would not help retain more customers but enhance their overall revenue as well. It goes without saying that automation and the latest technology will play a critical role in helping them achieve these goals and balance human and automated interaction.
In case you wish to deliver superb CX to your consumers, you may book a meeting with us to understand how we have helped consumer electronics companies reduce their customer support costs by up to 75% or you may reach our sales team @ 9643303884
According to HubSpot Research, 93% of customers are likely to make repeat purchases with companies that offer excellent customer service. […]
Read more According to HubSpot Research, 93% of customers are likely to make repeat purchases with companies that offer excellent customer service. […]
Read more
The only way to sustainably grow your business is by investing in your customer support. Yet most businesses fail because […]
Read more
The blog post talks about how artificial intelligence is being used in call centers, and how it will impact customer […]
Read more
According to Fortune Business Insights, Customer Relationship Management (CRM) was valued at $52.64 billion in 2020. Pandemic effects in the […]
Read more
“The global cloud telephony service market is expected to reach US$ 65.10 billion by 2030 during the forecast period from […]
Read more
The world has seen an explosive rise in the popularity of cloud-based software, and Dial CRM is one example. A […]
Read more
Running a call centre is not just about keeping your customers happy. It’s also about keeping your sales high. In […]
Read more
Stephen Covey, the author of ‘The 7 Habits of Highly Effective People’, said that successful people are always working on […]
Read more
As Mark Hunter says: “It’s not about having the right opportunities. It’s about how you handle the right ones.” When […]
Read more
“One of the greatest failures of every generation is that it refuses to read the minutes of the last meeting.” […]
Read more
As Jacquelyn Smith, Forbes says, “A successful sales pitch isn’t a monologue. It’s a dialogue.” An effective sales pitch is […]
Read more
What is a Service Desk? Service desks, help desks, or support desks all refer to departments that provide help to […]
Read more
The impact that customer service has on a business is something that often gets overlooked. Customer service is often seen […]
Read more
As of now, nobody’s sure what will happen when these two generations – one, who never expects companies to pick […]
Read more
Customer data is a valuable business asset. You must build an effective customer data management strategy to protect that asset. […]
Read more
A help center is your lifeline to customers. While building one is *not* a straightforward process, here are key points […]
Read more
Every business has customers and every business has the chance to improve its business by growing its customer base. Since […]
Read more
Do you know if your business has a customer focus? Although it might seem like a difficult question to answer, there […]
Read more
Sales CRM can help streamline your sales workflow and make it more effective. But what is Sales CRM? And why […]
Read more
You might think that creating the “ultimate customer experience” is all about making sure your customers are happy. If a […]
Read more
Keeping prices competitive is essential for any business. Having this information can make the difference between having a successful business […]
Read more
As any business grows and expands, it’s common to focus on scaling operations. Certainly this is true, but sometimes companies […]
Read more
No matter how much you love your product, your customers will always know better than you. Learn to listen and […]
Read more
Sometimes, companies will promote themselves as experts in customer retention, but what does this mean? Customer retention is the main […]
Read more
“Listen to your customers before they listen to your competition.” – Julian Hall When was the last time you looked […]
Read more
Lost sales and lower-income are not the only indicators of abandonment. Abandonment even results in a loss of clients for […]
Read more
If you are in charge of retaining your company’s customers, you know the feeling of sadness when you hear customers […]
Read more
“Your most unhappy customers are your greatest source of learning.” – Bill Gates A customer is the backbone of every […]
Read more
In the past few years, businesses were falling all over themselves to get a chatbot up and running for their […]
Read more
You’re doing all the right things. You’re friendly, you’re responsive, you’re on top of customer issues and you’re constantly delivering […]
Read more
Many brands are trying to figure out how to provide great customer service on social media. “We see our customers […]
Read more
Customer service KPIs (Key Performance Indicators) are the tools that help you understand how your customer service is performing. KPIs help you identify if you’re meeting your business goals, how well your agents are performing, and how your customer satisfaction is trending. They’re important because they provide actionable data you can use to improve your customer service.
Read more
Let us say that you own nothing but sheep. So one day you are out grazing the flock and all […]
Read more
No matter what industry your business is in, every business has the same goal: Keeping your Customers! Customer retention is […]
Read more
An effective ticketing system tracks and manages customer interactions, and makes it easier for support departments to manage their efforts. Data gleaned from these help agents provide personalized service and streamline operations, which helps support staff coordinate their efforts and automate tedious (and often time-consuming) tasks, facilitating both personalized service and faster resolution.
Read more
Sales qualified leads are very important facets of every sales process. Lead generation and lead nurturing are two critical steps […]
Read more
Globally, the E-Commerce Market is expected to reach USD 16,215.6 billion by 2027, growing at a CAGR of 22.9% during […]
Read more
Organizations need a resilient strategy for customer retention that makes sense in relation to current market conditions. Many companies are already prioritizing customer experience as it can be more profitable, yet it is still important for organizations to look ahead and identify any changes coming ahead of competitors in the market, who might not have made the same move yet.
Read more
“Customer experience” has been an important aspect of business marketing strategy since the beginning of the 21st century. Businesses have been shifting towards a “customer-first” mentality, where their goals align with improving customers’ happiness and satisfaction by taking into consideration all that they think and feel, rather than focusing solely on financial gains. To achieve this customer-centric approach, businesses have taken advantage of technologies to determine customer emotions at a deeper level.
Read more
On the whole, it is best to be quickly responsive when it comes to consistently responding to leads. Ready responsiveness helps expedite client requests, which will save you money on several levels. You’ll have access to a larger pool of customers while keeping uninterested consumers from slipping away and ultimately decreasing your number of potential sales. Please read the blog below that pertains directly to the benefits of kick-starting your lead response times today!
Read more
This blog will help you take a closer look at what cloud telephony is and How does Cloud telephony work to benefit your business. It also makes it easier for employees to collaborate, share knowledge, and for companies to track conversations in real-time.
Read more
Customers are the mainstay of businesses in all industries. Therefore, having a dedicated tool for delivering superior customer service is essential to ensure cordial bond with them for consistent growth.
Read more
Customer engagement and retention have been a serious concern in the insurance industry. Most companies keep on searching for how to enhance customer engagement in the insurance industry and in this blog post, you can find some of the useful tactics that can help the insurance industry maintain a cordial relationship with its existing customers.
Read more
Find the proven strategies for how to measure customer expectations to maintain a positive experience of your customer with your products and services.
Read more
Customer experience is a key factor in creating a successful brand. When it comes to marketing, then it would not be wrong to say that technology offers us the opportunity to manage the customer experience in several respects.
Read more
This guide help you engage & retain your customers with no hassles and make you learn how to manage customer complaints seamlessly for quick resolution.
Read more
If you want to delight your customers at every touchpoint, then you need to have a robust ticket management system that offers you omnichannel customer support.
Read more
Many industries have been impacted badly due to the pandemic but, it would be safe to say that the consumer durables industry is showing growth trends from a long-term perspective.
Read more
Customer satisfaction act as the primary catalyst in pushing a company forward, and ensuring repeat business. However, companies cannot create their customer service strategies based on vague data or few interactions and can only trust quantitative data.
Read more
Brands are increasingly focusing to become more customer-centric and elevate customer experience to improve customer satisfaction, loyalty, and lifetime value. […]
Read more
If you’re mapping or want to track your customer journey, there are plenty of things to be kept in mind […]
Read more
Customers are the bloodline of any business. Without them, there will be no reason to continue the business. Even more […]
Read more
No matter how small or big your business is or what it does, voice communication is a critical element of success.
Read more
Cloud Telephony is the latest innovative invention that provides a personalized and fully automated incoming and outgoing call management system […]
Read more
Sales closing is a make-or-break moment. No matter how hard you work and how well you design solutions for customers, […]
Read more
Do you want to make your business communications efficient and cost-effective? In this blog, we will explain to you how […]
Read more
If you have a sales team that works on-field or is working remotely to generate sales for you, then you […]
Read more
Organizations worldwide often wonder what the difference is between a customer relationship management (CRM) system and an enterprise resource planning […]
Read more
New technology comes fast and goes, even faster. These days, there’s a new app or widget every week promising to […]
Read more
According to research, over 70% of all customers who leave a company for its competition have no problem with the […]
Read more
You need to keep updating your customer strategies to ensure that they are happy with your products & services. Everything […]
Read more
nstant Inbound is a game-changing sales prospecting strategy that enables you to connect with more prospects, faster and allows you to be more productive and make more money.
Read more
Last month, a miracle happened. Your company’s video went viral. Lead volume shot up by 500%. You were pumped and […]
Read more
If you ask many business executives, they would say their customer service contact center is a necessary expense and it […]
Read more
Even if you have the best product in the world, your business is doomed to fail if no one knows […]
Read more
During the initial years, outsourcing was only used for basic processes such as data entry and payroll processing. However, as […]
Read more
Customer experience and contact centers, in particular, are great starting points to implement artificial intelligence (AI) solutions since they are a large […]
Read more
Brands & retailers build better customer service systems by removing the guesswork of what customers want. A SaaS platform for customer engagement combines chat, voice, and social media for one cohesive customer service experience.
Read more
It’s the age of the customer and the world’s biggest brands are duking it out every day for a greater […]
Read more
Understanding the various touchpoints you have with your customers is key to delivering memorable customer experience. Once you’ve mapped out your […]
Read more
As a business head or business owner, you need to find ways to grow your sales and revenue. Exploring different […]
Read more
Here are some prospecting tips for you if you want to convert your cold leads into warm prospects: Target carefully […]
Read more
Marketing teams spend a lot of time, effort, and money to create compelling campaigns, optimize them to generate leads, set auto-responders […]
Read more
This blog help you get the niche and specific Customer winning map by suggesting necessary tools, focus areas and changes to sell like a champion.
Read more
Email marketing is one of the most important components of customer engagement. Whether it is a webinar email or a […]
Read more
We have collected some information, I think very useful information regarding changing scenarios of sales in the times of SM […]
Read more
If figuring out how to grow and effectively manage an In-House team seems like a huge obstacle and will largely […]
Read more
Research shows that 69% of buyers accepted a call from new salespeople in the past 12 months, and 27% of sellers admit […]
Read more
Providing a stellar customer experience has been a cornerstone of business practically since spending and consumption have existed. However, now […]
Read more
Customer service reports not only provides you an overview of all customer service requests received from your customers but also […]
Read more
Many companies, including yours, might find outsourcing to be a good idea as there is so much to be gained […]
Read more
Irrespective of the customer’s location, call centers play an important role in delivering reliable customer experience on a daily basis. […]
Read more
Human interaction remains a vital component of customer satisfaction, even in the ‘digital age’. 83 percent of world’s consumers prefer dealing with […]
Read more
Put yourself in the customers’ shoes. How do you gauge the quality of service a company gives? What makes a […]
Read more
The buying experience often gets the most attention in customer service. Conversions are the name of the game for most […]
Read more
Learn more about Dialdesk’s Customer Experience Solution here! Author Profile DialDesk Latest Post 2022.03.29Customer Support CRMCritical Ways To Keep Your […]
Read more
is the apt framework developed for deploying the right mix of People, Process & Technology in a business with a clear eye on increasing lead conversion, reducing customer acquisition & management cost, and winning customers for life.
Thank you for another great article. Where else could anybody get that type of information in such an ideal way of writing? I’ve a presentation next week, and I’m on the look for such information.