The past two years turned out to be a boot camp of sorts for businesses. Sales and Operations had to drastically shift from brick-and-mortar stores to online platforms. Brands had to review their robust offline strategies in order to pivot their focus and operations to digital solutions.
Revamping channels and processes proved to be difficult for most, yet those who were able to successfully do so managed to keep their businesses afloat. Meanwhile, those who failed most likely did not leverage the growth prospects brought about by the sudden market shift.
However, the boot camp is far from over. With rising inflation in many economies around the world, businesses, regardless of their scale, are faced with a new set of obstacles and difficult questions: How can we sustain our customers amidst the rise in commodity prices? How can we show them that our products and services are still relevant? How can we convince them that they still need us?
For starters, instead of immediately looking for new answers and solutions, it might be helpful to undertake a refresher course on what we learned at the height of the pandemic.
For Joe Anderson, Director of Consulting & Customer Experience Strategy at TaskUs, it is important for a brand to have a strong, dedicated customer experience team that would focus on analyzing customer journeys and providing digital support. Customer experience (CX) prioritization is no longer just a nice-to-have but a must-have already.
"If a brand truly wants to gain and retain their customers' trust and loyalty, it must be able to provide everything that their customers need—including a smoother, more personalized, and more authentic customer experience," said Anderson. “It is key to staying relevant in such a very competitive environment made even more challenging by social and economic shifts and changes.”
The impending recession and global inflation is affecting brands’ sales and customers, and both factors are reliant on how the macroeconomy unfolds. It is crucial for a brand to leverage hyper-personalization in improving customer experience. Standing with a trusted partner can highlight your relevance and importance amid these uncertain times.