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Customers Want to Buy Experience, Not Just Products

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Customers Want to Buy Experience, Not Just Products

Sujith Vasudevan, Managing Editor, 0

A couple of months ago, I noticed a few additional charges on my EMI card while I was going through my monthly bills. I scrolled through the EMI provider’s mobile app but couldn’t find any direct customer care option, barring some general FAQs. The chatbot only added to my frustration as it didn’t even help me connect with customer care, let alone address my grievance. Finally, after more than 30 minutes, I found their customer care number, leading me straight to the IVR, which also had only answers to the FAQs. Eventually, I had to return to the good old email conversations to get my query addressed so much for advanced IVR and conversational AI.
The adage, 'if it ain’t broke, don’t fix it', comes to mind. Remember, we live in an era where customers don’t just buy products/services. They are in constant pursuit of experiences. With the intervention of AI and advanced IVR systems, many customer support infrastructures, which were more straightforward before, have become complex and non-user friendly. The length of time people forced to wait on the phone to get support from a customer service agent is getting worse and worse, and it paints a disastrous picture in the long run for many industries.

Spain is setting an example toward this walk backward. As The Guardian notes, Spain’s Consumer Rights Minister Alberto Garzón recently divulged that “the practically infinite waiting times that produce frustration are over.” The government has approved a draft bill that will set a three-minute limit on phone waiting times, at which time consumers will be required by law to connect with a human. It’s only a matter of time before Europe follows this precedent set by Spain, and the organizations need to be ready.