How today’s companies can use technology to shape the customer experience of the future.
Let’s take another look at L’Oreal’s lipstick tool to see how touchpoints and technology come together to drive a better CX. Each screen tap, each tweak, and each action by the customer is a touchpoint. L’Oreal captures data on all such interactions and funnels the information to product development, marketing, and other functions, allowing them to see what works and what they can improve. The amount of real time data generated is enormous.
These kinds of benefits are especially important for younger customers, those aged 40 and under. Their churn rate is twice as high as that of the average population, which underscores both the upside of meeting their expectations as well as the risks of falling short. One key point is that younger customers value autonomy when shopping, which means that they increasingly prefer to interact with technology instead of people.
One inherent advantage of these high-tech touchpoints is that they are rapidly scalable and trainable. Jill Watson went on to serve as teaching assistant for 17 classes, something no human could manage. The original version of Jill Watson took about 1,500 hours to build, but recent versions take less than 10 hours,. This is only one example of a broader trend.
The direct-to-consumer company Interior Define, for example, has grown its budget for experiments from 5% to 15% of its total digital marketing spend. Not knowing which platforms and technologies might hold sway in the years ahead, they wanted to be ready for whatever bears fruit.
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