For more, see “ Elevating customer experience excellence in the next normal ” and “ Adapting customer experience … Pico is a global leader in total brand activation specialising in engaging people, creating experiences and activating brands. In fact, one-half reported reducing their spending in the past two weeks, and 40 percent of Americans and 44 percent of Europeans expect to continue spending less in the next two weeks. Speed and response times are important, but not if they result in poor execution. While financial flexibility may be increasingly limited, many customers now face a surplus of time. Companies that invest in the wrong capabilities could find themselves on the outside as competitors that can offer exemplary customer experiences cement their advantage. 0000011350 00000 n Many companies are already demonstrating their understanding of what matters to customers as well as innovative ways to meet their old and new expectations. McKinsey COVID-19 US Consumer Pulse Survey, April 2020. Tesla’s sustained commitment to reinventing the car-buying process using digital has proved especially prescient. Less than a half of b2b … cookies, McKinsey_Website_Accessibility@mckinsey.com, Visit our Customer Experience Solutions page to measure impact of and to improve customer journeys. Together, this mix will continue to evolve and form the foundation of the next normal. To respond quickly to a constantly changing environment, companies will need to have a broad base of employees that know how to empathize with the customer, apply customer insights, and redesign the experience through digital excellence and contactless engagement. Research done by customer … Facebook. 0000022946 00000 n Looking at the broader picture, CRM can transform your company in the new normal, and help you build a popular and authoritative brand in a competitive online market. 0000009737 00000 n Organizations able to understand customers better—and do it faster—are likely to be the next customer-experience leaders. Speed and response times are important, but not if they result in poor execution. Cô±Ö&Kåð Qf`‘f ‡/ŸärF Þ` 9áQÇ Companies that capture all customer data, not just that of survey respondents, will gain a more accurate view of customer needs and expectations. In immediate response to the pandemic, some companies instituted policies to safeguard customers. Customers are significantly scaling back their spending across nearly all categories, anticipating tougher times ahead. ... Amazon took this to the next level in 2018 with their Amazon Go grocery stores. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more, Learn what it means for you, and meet the people who create it, Inspire, empower, and sustain action that leads to the economic development of Black communities across the globe. 0000002722 00000 n endstream endobj 175 0 obj <>/Metadata 38 0 R/Pages 37 0 R/StructTreeRoot 40 0 R/Type/Catalog/ViewerPreferences<>>> endobj 176 0 obj <. Blake Morgan is a customer experience futurist. 1 Customer Experience Mindset In The Age of COVID The COVID-19 - Coronavirus pandemic - will have a lasting impact on the state of the customer. Something went wrong. Indeed, McKinsey research shows that most of customers’ main concerns about COVID-19 are related to health and safety, so companies must keep these issues front of mind as they plan their transitions to the next normal. Customer experience is a top priority to businesses for the next 5 years and the reason is simple; the companies that focus on customer experience reduce churn and increase revenues - leading to higher profits! McKinsey Global Institute. For customers shopping in-store, the company offers Kroger Pay, a contactless payment tool rolled out before the pandemic. 0000035943 00000 n Each organization will pursue these priorities differently based on its industry and starting point as well as competitive landscape. Never miss an insight. Beyond contactless operations: Human-centered customer experience May 19, 2020 – As we look forward to the next normal, consumers are already demonstrating a preference for companies that deliver great service while reducing risks all along the customer … The environment and customer preferences will continue to evolve, so companies should be prepared to adapt, iterate, and operationalize changes across the organization. Consumers who get accustomed to this new contactless world may not be inclined to return to high-touch commerce and crowded stores—even when health officials deem it safe. This trend is likely to continue. Simple adjustments, such as methods to facilitate physical distancing in stores, have already become ubiquitous, if not compulsory. hÞb```b``]ÏÀÆÀ p™Aˆ„X¢,§¶HP¾ »')(Ã8aÊËô=ȀÑ]a‚—΁³ŠË§-™xBE¨ÛÀ؏«qyâ´UK‚@lŽ"N–¬7ÛÒ¢’Ôu\a‚ÛÌi*S fIt€H&¥ôŽŽKIÊbRR6q3B 9֊ŽT§ Iž}@ZˆõÀFª}sÞAfë&C —e£ ƒC,ƒl #“Ã$Á¬˜uRÌx˜63œ:`8»€©‚Ù¦ÑÎAý£=ÃIÖÆý¬‹€!et.^Š!œA¬=‚ñ Such concerns have led customers to rapidly change how they want to engage with the world, with safe and contactless operations a top priority. Please try again later. 0000007114 00000 n Blake is the author of two books on customer experience. ... Elevating … Urgent-care clinics have established drive-through service to allow passengers to get fast, safe COVID-19 testing without physically entering a health facility. Even retailers without a strong digital presence, for example, could partner with online marketplaces or delivery services. McKinsey on Elevating Customer Experience in the Next Normal June 4, 2020 As companies across the globe adapt—and even reinvent themselves—during the coronavirus crisis, … Our mission is to help leaders in multiple sectors develop a deeper … collaboration with select social media and trusted analytics partners hÞbbRf`b``Ń3Îî 0 EMT Subscribed to {PRACTICE_NAME} email alerts. The increase of digital also means that companies will have more dynamic data at their fingertips. The grocery chain designed a fully “click and collect” store to fulfill online-order pickup. To broaden its online reach in China, the carmaker partnered with Alibaba on a Tmall online store. %PDF-1.4 %âãÏÓ Investments in these types of comprehensive, predictive, data-driven systems could allow organizations to gather insight and respond more quickly to customer needs during times of crisis. 0000013028 00000 n Press enter to select and open the results on a new page. The numbers tell the story. The impact of COVID-19 on customer behavior has been sweeping and immediate. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. Overall spending is expected to decrease by 50 percent across all consumer categories, but certain shelter-in-place necessities will rise: groceries (up 14 percent), entertainment (up 13 percent), and household supplies (up 3 percent). If they can’t, they end up churning through current customers and burning funds finding new ones. 0000004481 00000 n Blake is the author of two books on customer experience. Unleash their potential. Some companies have expanded their digital capabilities by evolving their portfolio through M&A or by divesting lower-potential holdings. The shifting customer behaviors brought on by COVID-19 reflect the acceleration of anticipated trends, the emergence of new preferences, and a complete reversal of some long-held routines. She is the author of the new book "The Customer Of The Future: 10 Guiding … To determine where to invest, companies should first identify in-person interactions in their value chain that may need to be addressed. Elevating Customer Experience Excellence in the Next Normal July 22, 2020 Randy Gosda Companies that make the right investments now could build an enduring advantage in serving … 0000012198 00000 n Many companies, from mobile carriers to food-delivery services, have made targeted investments to build or augment their digital capabilities. 0000001697 00000 n These companies also emphasize digital opportunities that strengthen the core business and lay the groundwork for a larger digital transformation. These investments should aim to anticipate and predict customer sentiment and customer value. Collectively, these measures have contributed to strong outcomes: Kroger announced that same-store sales increased 30 percent in March 2020, and its stock price has climbed by the same percentage since October 2019. ... and it started by taking a look at the customer experience. May 26th, … Its state-of-the-art digital showroom and virtual user guide offer customers an immersive online experience, and the contactless car delivery is tailor-made for the current environment. Companies across industries have redesigned their processes to increase safety and demonstrate their commitment to both customers and employees. Flip the odds. We strive to provide individuals with disabilities equal access to our website. And its partnership with Ocado to launch robotic grocery warehouses, initially rolled out a year ago, has enhanced its resilience. Connected and empowered like never before, customers’ expectations have skyrocketed. 0 0000008377 00000 n 174 0 obj <> endobj Given embedded fears about public health and excitement about innovations in contactless operations, safe approaches to offering products and services will be critical. tab. Many companies are competing solely on their ability to find customers and keep them satisfied. 0000013797 00000 n What’s next for remote work: An analysis of 2,000 tasks, 800 jobs, and nine countries The state of AI in 2020 Por otra parte, el camino a seguir durante el recorrido más largo, que denominamos “nueva … With a consistent commitment to enhancing their core customer experience, it recently sold to Unilever for $1 billion. Or car pick-up all organizations, whether traditional companies or start-ups, are reorienting their business models to be.... Their expectations for safety bar for digital excellence, already high elevating customer experience excellence in the next normal pandemic! Covid-19 us Consumer Pulse Survey, April 2020 transactions have dropped by 20 to 50 percent should focus on a. To recalibrate their expectations for safety during the pandemic, some companies instituted policies to safeguard customers pick-up! 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