Year End Wrap and 2020 Expectations from Brands in India

Year End Wrap and 2020 Expectations from Brands in India

1. Zendesk Quote:

KT Prasad, Country Sales Director- Zendesk

"In 2019, we saw a continued rise in customer expectations and the need for a consistently seamless customer experience. As a result, companies began to recognize the importance of using customer experience (CX) to differentiate their business. Yet, there continues to be a gap between what customers expect and what companies deliver. Earlier this year, the Zendesk Customer Experience Trends Report 2019 showed that 40 percent of customers opt for help centers before contacting a support agent. However, only 20 percent companies provide self-service solutions, signifying a significant opportunity for companies to catch-up to rising expectations.

We saw businesses look for an open CRM platform that aligns all customer data, from any source, into one place to give them a more complete view of the customer, and putting their experience at the center. Messaging apps like WhatsApp have had a sweeping influence in India, and brands such as 1MG, a healthcare eCommerce platform, and Milaap, a crowdfunding platform, were seen as some of the earliest adopters these tools to make their support experiences faster and easier than ever before. In 2020, we will more companies integrating messaging solutions like WhatsApp into their CX strategy.

Looking into 2020, customers will continue to expect more from businesses, regardless of whether they are digitally native, disrupting, or transforming their industry. In line with this, more companies will recognize the power of adopting an omnichannel CX strategy to give their customers an increasingly seamless experience. I also expect to see a higher adoption of AI and self-service, particularly amongst millennials and Gen-Zers who, according to our data, are more comfortable finding solutions online via FAQs and help centers."

2. Acuver Quote:

Sunny Nandwani, Founder, Managing Partner- Acuver

"Known for sizeable amounts of data stored in different ways and different systems, the supply chain industry has perhaps the most to gain from implementing innovative solutions and technologies.

Supply Chain Visibility (SCV) is no longer just a great thing to have for companies looking to digitize supply chain; in 2019, it was a prerequisite — and in 2020, it needs to take another step forward to becoming real-time. These real-time data insights would enable to transform, convey efficiencies resulting in improved customer experience. Hence, this year will see a heightened focus by supply chain enterprises implementing cutting-edge SCV solutions into their operations.

Another technology trend that we witnessed in 2019 was a dramatic rise in smart tech for tracking purpose in last-mile delivery. End to End connectivity in last-mile delivery is one link in supply chain already well into transformation. Information captured when applied through analytics allows to isolate cost-impacting features too. We see this trend only expanding further as we enter 2020."

3. Wealthy Quote:

Aditya Agarwal- Co-founder, Wealthy.

"Technology has made the financial industry more accessible and comprehensible to regular users. An emerging trend we have observed in the FinTech industry, is how technology is enabling individuals who have a knack for financial matters, take a step forward to become a Wealth Manager. With just a smartphone, individuals with a good understanding of the sector can be empowered to offer advice and counsel to those in their circle and can also choose to offer their services on a FinTech platform at a professional level. A Wealth Manager’s service is key to bridging the trust gap that a customer may face while using a Wealth Management app/platform and also provides the individual with a flexible job with a steady source of income."