Customer needs have changed dramatically due to the COVID-19 pandemic. The pandemic itself forced us to experience what should have been some seven to eight years of technological advancements in around four months. This saw companies fall or thrive but there was of course a period of intense scrambling to continue operations as death tolls stacked up across the planet. Initially, consumers were patient and even reported positive experiences. This, experts now suggest, was down to a feeling of sympathy for businesses. Others believe it could be down to simply wanting human interaction no matter what the cost. Now, though, businesses face a different story.
Gone are the months of compassion during COVID, with consumers changing the face of brands altogether, but also controlling entire strategies of companies. Should businesses or brands not meet demands with deliveries and online simplification, consumers are cutting ties with them immediately.
But what are the new customer demands businesses are now fighting to meet, and how do they differ from those pre-COVID? Let’s take a closer look.
Sharing is Caring
To put it bluntly, care and compassion are what customers are demanding of brands. And if this isn’t achieved in a timely manner, they simply will not associate themselves with the business any longer. This sounds like a no-brainer, but previously if live agents had been rude to customers they would complain, and for most, it would be highly unlikely they would sever ties with the business. But the pandemic has exposed businesses as being vulnerable and as a result, customers have been handed an increased sense of power and influence. But there’s more to it than that. Customers don’t want marketing information to gain a competitive edge over rivals, but compassionate care. And not just excellent quality CX, but initiatives, financial relief and credit support.
Delivery Model Overhaul
E-commerce sales sky-rocketed to more than 80% in the first four months of the pandemic. This was because the wave of lockdowns and restrictions saw consumers flock online to spend their hard-earned cash. The demand here is that the business comes to the customer, and not, as it was previously, the customer travels to the business. This e-commerce trend is here to stay, meaning digital delivery options should be accelerated so companies keep up. And despite banks and financial services lagging behind during the pandemic due to a raft of safety concerns with staff working from home. It appears that too has changed. More than 40,000 viewers tuned in to Bank of China’s first three online shows, where leading investment managers shared market insights, discussed the impact of the virus, and gave advice.
CX in an AI Offering
In China, there has been a 55 percent increase in consumers intending to permanently shift to online grocery shopping. This is essentially consumers relying on a wholly digital CX, which will of course be achieved by AI. And businesses will deliver on their CX emerging as most important in the new normal, and all while finding ways to save and self-fund. This also means cutting costs will be essential but in doing so it must also be balanced with providing consistent customer value.
To conclude, COVID has caused a major shift in consumerism patterns. But there’s no reason for companies to not be able to meet high demands. But one thing is certain when it comes to winning over more business for brands and keeping customers onside, and that’s that actions really do speak louder than words.
