3 Ways to Future Proof Your Business

Friendster. Myspace. Blackberry. Walkman. Tom-tom. Palm Pilot.

All technologies that once felt like a cornerstone of our lives that now, the youngest generation may never know about. While there is a diverse set of reasons for the unique downfall of each brand, one thing is true for all of them: they were not future-proof.

Future-proofing is what it sounds like: ensuring your brand has the tools it needs to stand the test of time. Unfortunately, this is much easier said than done. Not only does future proofing require a close eye on upcoming trends, technologies, and operations, but a unification between customer experience and contact center operations.

Why? Because your customers have the final say in whether or not your company is future-proof.

Here are three ways you can future-proof your business and keep your customers happy long-term:

1. Invest in and Use the Right Artificial Intelligence Solution

AI has been a buzzword for nearly a decade now with companies across every industry claiming they have harnessed its power in a new and innovative way. While some of them may be telling the truth, this has turned into a “boy who cried wolf” type situation for much of the key audience. Many of these technologies feel and work the same way as legacy platforms—what’s the point in using AI if it isn’t going to make the product better?

While this notion stands true in the new year, an influx of impressive new technology like Generative AI has made it even more difficult to decide which solutions to invest in. With hundreds, sometimes thousands, of options for your contact center (and a smaller budget than ever before), it is crucial to find the right AI-based technology for you. Brian Cantor, Principal Analyst for CMP Digital, says on the topic, “There are few aspects of the customer experience that cannot benefit from artificial intelligence. The realities of business strategy and limitations of investment dollars, nonetheless, require businesses to prioritize certain use cases.”

By identifying the key issues at your contact center—the issues that prevent your customers and employees from having a unified experience— you will not only ensure you are using your budget effectively but will choose the specific AI-backed solution that fits your company’s unique needs.

2. Improve the Agent Experience

Happy agents mean happy customers—we all know this to be true. It’s probably why more than 69% of companies plan to invest in technology that reduces agent effort in 2023. To achieve this goal, there is almost nothing more important that training employees. AI solutions your company invests in should be inherently “easy to use,” with minimal steps and screens to get to the necessary customer information. Furthermore, time and care should be put into training each agent in this technology to not only allow them to feel secure using the technology efficiently but to get their feedback on it and improve its effectiveness.

Great training requires great leaders. Cantor informs us that, “53% of brands will invest into leader and manager effectiveness [in 2023]. These companies refuse to let new technology and changing work environments prevent leaders from understanding, supporting, and motivating their teams.” This lends itself to the idea that, if your company does not have the resources to train employees on new platforms and tools, it might not be the right time to invest in those tools.

3. Prioritize Customer Retention

Building a larger customer base is vital to the success of your business. It is so important, in fact, that it comes second only to retaining current customers.

It doesn’t matter what industry a business is in, what department employees work with, or what corner of the world a company exists in—customer retention should always be a top priority. More than 63% of employers say that their retention rate is becoming more important in 2023. The large percentage could be, in part, due to the economic uncertainty clouding the current marketplace.

As both customers and businesses they frequent cut costs, the ability to retain customers could be the difference between a company thriving or dying. Cantor reports, “It is imperative to make sure [service leaders] are doing everything in their power to nurture the customer relationships they already have. If they become less of a priority for their existing customers (or, worse, lose these customers to a competitor), they may not have the budget or opportunity to fill the void with new ones.”

Some ways to retain current customers include improving the agent-customer relationship through seamless channels of communication, developing a personalized onboarding experience for new customers, and using customer data and feedback to make decisions about new technologies. By keeping the customer in focus (and informed) when making big decisions, leaders can be sure the solutions don’t just benefit the budget, but the users.

The future is always uncertain but, thankfully, there are ways customer contact companies can prepare for the unknown. When you “future-proof” your company with AI-backed solutions, positive agent experiences, and a loyal customer base, looking ahead becomes a lot less scary.

For more on future-proofing and the state of the customer contact industry, check out CCW’s collaborative report with Sprinklr: “Outsmarting Adversities: Customer Service Trends and Opportunities” here.