September 9, 2022
September 9, 2022
After enduring the pandemic lull, semiconductor shortage, and the rising cost of raw materials, India is again a hot market for consumer appliances and electronics.
In 2021 the Indian consumer durables industry stood at $9.84 billion and is likely to reach $21.18 billion by 2025. This double-digit market growth is driven by the brands’ omnichannel reach and a massive shift in consumers’ thought process—from price consciousness to a preference for technologically advanced, premium products that promise higher quality, safety, and value. While this is great news in terms of sales and profitability, it signifies the end of mass marketing and traditional customer engagement strategies.
Today’s consumer wants to feel special and expects a meaningful connection with the brands. Customer experience (CX) is important for long-term customer relationships and sustained value-creation.
Unlike other industries, sales is the starting point for brand-customer relationship in the consumer durables business. Since today’s customers expect more, brands are bombarded with countless opportunities on the digital front to offer and improve their post-sales, product, and user-oriented services; understand audience demographics, product usage, and collect feedback. To navigate the challenge of delivering modern CX with the conviction to delight customers, the worldwide spending by companies on CX technologies is expected to touch $654 billion this year.
To make investments worthwhile and master the art of customer centricity in the consumer durables industry, let’s first understand the common barriers to great CX:
Besides, brands are not evolved enough to leverage ‘micro moments’ or the few seconds when a customer online browses with the intent of buying a product or service. It takes cutting-edge expertise to encash on a limited window of opportunity to identify a potential customer, and provide them with the right information, at the right time, and right medium!
This could be a Catch-22 situation for consumer durable companies as on one hand, their customer service will be flooded with queries and inbound calls regarding the maintenance, repairs, and responsible end-of-life actions for products that cannot be addressed by generic IVRs or FAQs. On the other hand, there is a lack of evidence-based data on mapping and driving customer experience which is crucial to the adoption of circular practices.
Explore how to Transform CX with Voice Automation
Top-performing brands can build long-lasting customer relationships by leveraging bespoke technologies like artificial intelligence (AI) and machine learning (ML) which have a demonstrable impact on areas like product design, marketing, sales, and customer service. When it comes to elevating CX, consumer durables companies must seize the moment by automating customer service and augmenting their contact centers with AI-powered, industry-specific platforms. Voice-first technology solutions like Voice AI help reshift the gears of customer service in the consumer durables industry.
Users of consumer durable products approach contact centers for a slew of reasons and prefer voice interactions with human agents over texts and IVRs. Besides, voice is the most instinctive and easy form of communication. Voice AI helps tap into customers’ voice conversations to improve contact center performance and guarantee personalization.
Customer support platforms built for typing and texts would be insufficient to articulate customers’ urgency, queries, complaints, and issues. Voice AI platform is built, designed, and optimized for voice conversations at scale for prompt query resolution and better personalization to callers.
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The Digital Voice Agents automate multimodal interactions and take over cognitively repetitive tasks so that human agents can vest attention to addressing complex customer problems.
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The Road Ahead
Expert evidence points that we are in the ‘platinum era of CX’ and headed to a future of more emotionally and personally immersive CX.
After braving a tumultuous ride of economic slowdown and digital acceleration, the global consumer durables industry is at an inflection point. This is where technology and thought leadership come together to acknowledge the ‘voice’ of today’s customers through Voice AI.
For more information and free consultation, let’s connect over a quick call, use the chat tool below to schedule an appointment with one of our experts.
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