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5 Ways to Build Customer Trust with CX Investments

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We all know customer trust is important, but the stats reveal just how important. Studies show 81% of consumers say they will not do business with brands they don't trust. And high-trust companies are at least 2.5 times more likely to be "high-performing revenue organizations."

With this in mind, you may be wondering what investments you can make to increase customer trust. Or maybe you're worried new technology could create poor experiences and damage the trust you've worked so hard to build. Thankfully, customer experience (CX) investments have become incredibly sophisticated.

We'll cover these technology investments later in this post, but first, let's discuss the most important element of building customer trust: meeting customer expectations.

Build customer trust by meeting customer expectations

In a recent study, 68% of customers said they would pay more for a product or service from a company that consistently meets their individual expectations. Conversely, 50% of customers will leave a company after just one negative experience.

So what are customers' expectations? In general, customers want to be treated fairly, receive quick service, and have their issues resolved, but each individual varies in how they expect to be treated. For example, one customer may expect to talk to an agent within five minutes while another expects to self-serve their own issue immediately. One may define "fair" as resolving an issue, but another may expect extra compensation when something goes wrong.

Studies show 81% of consumers say they will not do business with brands they don't trust.

As customer expectations became more personalized, CX investments have responded. Tools like Intelligent Virtual Agents (IVAs) have replaced IVRs and chatbots. Those outdated tools lumped similar customers into buckets, but IVAs use conversational AI to create personalized experiences for everyone.

How CX Investments Build Customer Trust

With that in mind, here are five ways CX investments like IVAs build customer trust:

  1. Offer excellent customer service. IVAs are responsive, helpful, and empathetic to customer needs. Because virtual agents provide 24/7 customer support, they resolve customer issues quickly and efficiently, which helps to improve customer satisfaction and loyalty.
  2. Create consistent experiences. Although IVAs are best known for automating customer phone calls, they can also serve customers via text and chat. This means you can deliver the same level of service and create consistent messaging across all channels, from your website to your call center to physical locations.
  3. Personalize the customer experience. Each customer has their own expectations. This means you must get to know your customers and their individual needs. It also means tailoring your communications and interactions to each customer. IVAs don't use menus to lump similar customers into buckets. They use customer history and voice-of-the-customer input to personalize each interaction.
  4. Showcase your brand. With an IVA, you can send branded text messages with your brand colors, logos, and other elements that your customers already know and trust. You can even create a voice persona that matches your brand, creating a full audio-visual experience that feels familiar to your customers.
  5. Empower your employees to solve problems. IVAs are meant to work alongside contact center agents, not replace them. Because IVAs can automate a wider range of tasks than legacy CX investments, your employees can dedicate more of their time to customer requests that most need their help. That leads to higher satisfaction for both customers and employees.

By investing in these areas, you can create a customer experience that is both positive and trustworthy. This will lead to increased customer satisfaction, loyalty, and advocacy.

5 Ways Intelligent Virtual Agents (IVAs) Build Customer Trust

More Tips to Build Customer Trust

Here are some additional tips for building customer trust through CX investments:

  • Use technology to improve the customer experience. A conversational AI solution like Mosaicx provides a number of features that can help you improve the customer experience, including call automation, outbound dialing and messaging, customer journey analytics, professional services, and more.
  • Measure and track your CX performance. It's important to measure and track your CX performance so that you can identify areas where you can improve. There are a number of CX metrics that you can track, such as customer satisfaction scores, customer churn rates, and customer lifetime value.
  • Get feedback from your customers. One of the best ways to improve customer trust is to get feedback from your customers. You can do this through surveys, interviews, and focus groups.
  • Continuously improve your CX. Building customer trust is an ongoing journey, not a destination. You should always be looking for ways to improve your CX. This means being open to feedback, being willing to experiment, and being constantly learning.

By following these tips, you can build a strong foundation of trust with your customers. This will help you attract and retain customers, boost sales, and grow your business.

Build Customer Trust with Virtual Agents

Virtual agents help meet customer expectations by providing accurate and timely information. They also reduce costs by automating customer service tasks.

Making this type of CX investment can increase customer satisfaction, reduce customer churn, increase sales, and improve employee productivity by freeing up employees to focus on more complex tasks, such as problem solving and relationship building.

Overall, CX investments like virtual agents can help businesses to improve customer trust, meet customer expectations, and deliver a better customer experience. Consider a partner like Mosaicx to generate these benefits for your business.