3 Ways To Drive Customer Value In 2023

For many firms, the start of a new year is a natural moment for reflection.
What went successfully throughout the last year?
What didn’t?
How will we achieve more success this year?With a global crisis coming up and the economy still being uncertain, it has never been harder to predict and plan for the future.

We’ve all heard the phrase “adapt or perish,” and the last three years have been dominated by change.In fact, marketers plan to make even more changes in the next six months, such as changing their messages and platforms and cutting costs in key business areas.

3 Ways To Drive Customer Value In 2023
3 Ways To Drive Customer Value In 2023

Regardless of the changes that lie ahead in the coming year, one thing stays constant: customer loyalty reigns supreme.
In 2023, there will be numerous possible outcomes, but three approaches to building and retaining customer loyalty stand out: embracing the hybrid customer journey, leveraging artificial intelligence (AI) in inventive ways to create new experiences, and identifying unique touch points to engage high-value customers.

The hybrid customer experience will persist indefinitely.

“Meeting clients where they are” in 2023 will require both a virtual and physical presence.
In fact, over three-quarters of customers desire a combination of physical and digital channels, while 67% of marketers deem it very or very critical to create a hybrid customer experience (CX) within the next 12 months.

In the next year, consider using hybrid customer experiences to maximise return on investment.
Virtual channels can assist in-person interactions, and vice versa.
A speech delivered onstage at a live event, for instance, can be livestreamed through social media or uploaded afterwards as bite-sized video material for Instagram Reels.

Not only is this an effective approach for marketers to extend the life of their content, but by including a virtual element, businesses may reach more individuals.
Consider localising your online content for audiences in different locations to increase interaction.

Marketers will utilise AI in novel ways to create distinctive customer experiences.

AI is currently altering the marketing landscape.
According to the most recent CMO Survey by Deloitte, 8.6% of CMOs report that their organisations use AI or machine learning to optimise and automate marketing operations; this percentage is projected to increase to 22.9% over the next three years.

Exciting and buzzworthy new AI tools, such as ChatGPT, are already being used creatively for a variety of marketing activities, such as market research and brainstorming new ideas for upcoming marketing campaigns.
For instance, marketing professionals can ask ChatGPT for an innovative and interesting YouTube video concept that would help promote a certain product or service.

Additionally, other AI technologies are altering the design and creative processes.
Synthesia is an AI-powered video production tool that enables users to enter their own content and graphic components in order to produce films employing human avatars.
Dall-E 2, OpenAI’s image-generating AI system, also demonstrates potential in terms of creating a totally new brand aesthetic.

To engage high-value consumers, new touchpoints will develop.

Prioritizing the customer experience this year will include more than simply developing methods to attract and engage new audiences.
As crucial, if not more so, will be the maintenance and expansion of connections with existing clients.

To interact with high-value consumers more effectively, it is probable that daring and innovative touchpoints will emerge.
Brands are innovating to provide new consumer interaction options in order to cultivate deeper connections.
This is exemplified by the recent emergence of virtual Christmas storefronts, with businesses like Crocs creating virtual shopping experiences for customers who didn’t want to leave the comfort of their homes while still providing a meaningful experience around a certain occasion.

Establishing and sustaining great client connections will be at the centre of every successful company’s plan as we enter another year of uncertainty.
The chief of research for the Gartner Marketing Practice, Ewan McIntyre, expressed it best: “The present climate requires a constant emphasis on customer value.”
Brands and marketers may improve their chances of success in the upcoming year by adopting hybrid CX, utilising AI in novel and inventive ways, and discovering unique contact points to engage high-value consumers.

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Krishna Chaitanya
Krishna is a digital media strategist with experience in the media and publishing industries, He is also the lead marketing strategist for Hustle Chronicle. He is currently employed at Intentify Media & resides in India.

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