Solution
- TCS Interactive
Humanizing Technology to Create Iconic Experiences
Highlights
- Getting customer experience (CX) right is key to business growth, increased market share, and higher revenues.
- Customer experience is the perception of your brand based on every interaction and every touchpoint throughout the customer journey.
- Experience 4.0 is purpose-led, sustainable, immersive, and inclusive, created with ethical deep learning and artificial intelligence, and finding the right balance of the 3 Ps: purpose, profit, and personalization.
The next era of CX
Experience 4.0 is the next era of customer experience
Customers today want more than just good customer service. They are looking for highly personalized experiences that are relevant, memorable, and immersive. They want a customer experience that puts them at the center.
Every interaction with every aspect of your business—from consideration to purchase to delivery and beyond—matters. So does every engagement with all the stakeholders in your ecosystem—employees, partners, suppliers, and even communities. And it’s important to note that most of your customers will start their journeys through digital channels. For the foreseeable future, getting CX right will be key to business growth, increased market share, and higher revenues.
Harness data for CX
Businesses will need to wear multiple hats and think from diverse perspectives, break down silos within their organizations, and find new ways to measure CX.
They should aim to take full advantage of the wealth of data available to them, and harness predictive insights to connect more closely with their customers, anticipate their behaviors, and identify issues and opportunities in real time.
Today’s CX mandate has led to the evolution of Experience 4.0, the next era in delivering extraordinary CX for everyone in the business ecosystem. Experience 4.0 is inspired by the four key behaviors of Business 4.0™ that are designed to optimize the digital advantage and create customer value for organizations worldwide: driving mass personalization, creating exponential value, embracing risk, and leveraging ecosystems.
Advantage of CX
Customer experience is what differentiates your brand from the competition.
Customer experience is the perception of your brand based on every interaction and every touchpoint throughout the customer journey. This CX continues to be a vital aspect of any brand strategy. In fact, according to the 2021 TCS Global Leadership Study, the top-performers of more than 1,200 global executives said that customer centricity will be the most important aspect of their organizational culture between now and 2025—even above shareholder value and financial performance.
It is important to view the experience holistically, looking beyond the online e-commerce transaction or the customer journey in isolation. Customer engagement involves many interactions, from consideration to delivery, with many stakeholders—including partners, tools, and even other ecosystems.
When you look at a consumer getting ready to purchase a luxury vacation getaway, for example, the buying process involves a large, complex, and ever-changing ecosystem with many potential partners and players—from accommodations to airlines to attractions. How can you ensure your customer has a stellar experience every step of the way—and comes back to your brand again and again? And how can you leverage ecosystems to your own advantage?
Future of CX
Experience 4.0: What is it?
TCS Interactive - Experience 4.0
TCS Interactive - Experience 4.0
Experience 4.0 has evolved from Business 4.0™and takes the current customer-centric paradigm and elevates it to include all stakeholders in the business ecosystem. When businesses understand their customers and the larger, dynamic ecosystem, they are able to provide seamless, highly personalized and delightful experiences each and every time—to all stakeholders.
Experience 4.0 is a framework to craft futuristic customer engagements that are purpose-led, sustainable, immersive, inclusive, and contactless that drives experience-led growth & loyalty. The framework leverages a —“bridgital” ecosystem to bridge gaps between digital and physical worlds, various stakeholders, and ecosystems. It also uses ethical deep learning to personalize experiences.
The goal is threefold: to drive growth; deliver on the brand promise and enhance the end-to-end customer journey.
The six features
The six features of Experience 4.0 focus on being purpose-led, sustainable, and emphasizes the importance of the ecosystem.
- Experience for everyone: A human-centric design ensures that each stakeholder – customers, employees, partners, suppliers, and communities - can participate in a highly-personalized experience, extracting value from the entire business ecosystem.
- Purpose-led : An organization's purpose, which is central to its operating and business models, should guide every customer’s experience. Experience 4.0 also incorporates TCS’ Building on Belief philosophy, which empowers companies to deliver on their brand promise and purpose to transform their business for the better and drive customer loyalty.
- Sustainable : A sustainable model nurtures our planet and offers inclusive economic growth. Environment-friendly concepts should be central to experiences.
- Bridgital ecosystem: Experiences should strive to include the interests of private, public, and civil sectors and bridge the gap between the offline and online journeys, so they are seamless and frictionless.
- Ethical deep learning: Artificial intelligence (AI) and deep learning processes must be used responsibly, fairly, and ethically. Personalization is the key to success, but the organization needs to maintain the privacy of the customer’s information and utilize them for hyper-personalization in a sensible way. Consent, privacy, and trust should always be maintained.
- Immersive and inclusive: Customer engagements should offer greater choices and control to individuals and unlock new possibilities and better performance through more creative, collaborative, and richer experiences. It needs to be human-centered and accessible to everyone.
If CX is a priority, the Experience 4.0 framework can help to stay relevant for the future and deliver experience-led growth that involves human ingenuity and sensible use of technology, all at the same time. But Experience 4.0 is just the beginning.
If a brand concentrates on enhancing the experience orchestrated through a set of services by humanizing technology, it will achieve expected results and ensure better returns on experience (ROX) in the current experience economy.
When businesses understand their customers and the larger, dynamic ecosystem, they are able to provide seamless, highly personalized and delightful experiences each and every time—to all stakeholders.
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