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Why business survival and stability hinges on CX transformation

Delivering an outstanding customer experience (CX) has never been more important. In fact, according to the findings of the Zendesk CX Accelerator 2022 report, customers are even less patient now than they were a year ago when it comes to the quality of the interactions they have with companies. Failure to meet their expectations can also carry a heavy cost, pushing customers towards competitors, denting revenue growth, and reducing net promoter scores.

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Why P&C insurance companies need to invest in claims customer service now

When someone makes an insurance claim, they’re under a lot of stress. Maybe their son just totalled the car or their house caught fire. It’s already a very bad day. Filing a claim might be the last thing on their mind when the unexpected happens. And if the claims process isn’t simple, it can add frustration to an already stressful time. Enduring that kind of bad experience can mean the end of a customer relationship.

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Retain your customer base through a recession

Nobody likes losing customers. And for many businesses that made the shift to operating online during the pandemic, it’s been a challenge to connect with customers on a personal level. We’ve learned that the tools we use to connect can either hinder or help us. Fortunately, there’s a wide range of digital platforms that can help you understand your customers in a deeper and more meaningful way.

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Turn customer service agents into inside sales reps

With concerns about a worldwide recession, it’s no surprise that shoppers are in a bit of a slump. But there’s some encouraging news: consumers across the globe are estimated to spend.301 trillion more on retail goods in 2022 over the previous year and digital spending is expected to total.717 billion worldwide. “Consumer staying power may be waning but it's showing few signs of breaking”, Tim Quinlan, a senior economist at Wells Fargo, told Reuters.

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Make the holiday shopping season merry with great retail CX

It’s the most wonderful time of the year—the holiday season is finally here. After the chaos and uncertainty of the past few years, with supply chain woes, staffing shortages, and inflationary pressures, there is some good news for the retail industry. The National Retail Federation (NRF) predicts that holiday sales will be healthy this year.

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The role of customer service during an economic downturn

Current headlines predict a global recession on almost a daily basis, leaving us to wonder whether and when it will finally arrive – and if it does, how deep the recession will be and how long it will last. It’s unsettling but we’re no strangers to uncertainty. If anything, we’ve learned over the past few years that we should both expect and prepare for change. After all, many things are still in a state of flux.

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Drive revenue during an economic downturn

CEOs are getting nervous. According to a quarterly survey of business leaders conducted by the Conference Board, 98% of US-based CEOs say they are preparing for an economic recession over the next 12 to 18 months. European leaders are even more fearful – 99% believe a recession is imminent. “CEOs are now preparing for near-inevitable recessions in both the US and Europe”, Roger W. Ferguson, Jr., Vice Chairman of the Business Council and Trustee of the Conference Board said.

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Stay agile and innovative but keep expenses in check

Interest rates are rising, the housing market is slowing and according to the Consumer Price Index report released on 12 October, inflation is increasing at the fastest rate in 40 years in the US. Prices for everything excluding food and energy climbed 6.6% over the year up to the end of September. With the ongoing war in Ukraine and rising energy costs, the economic picture across the world is just a bleak.

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Driving cost savings through operational improvement

Don’t panic. That’s generally good advice—but when business leaders are facing one of the worst economic downturns in more than a decade, it’s not particularly easy guidance to heed. With inflation hitting a 40-year high, companies like Amazon, FedEx, and Meta are in the unfamiliar position of tightening their belts. Yet crisis breeds opportunity.