Why is Latin America at the forefront in CX? / Argentina News

It is evident that Latin America has undergone a profound change in digitization in recent years. Not only has the social isolation of the pandemic boosted new digital services considerably, we have seen the region stand out with investments in customer experience (CX), changing the way companies build and nurture their relationships. with the clients.

This year’s CX maturity study showed that the region has been above the percentage of leading companies in CX (called “experts”), with a special position for Mexico (23%) and Brazil (16%), very above the world average (9%). But what is the reason?

One of them could be that the companies in the region understood the need to differentiate themselves from the competition. According Schneider Electric and Oxford Business Group (OBG), 60% of companies in Latin America invested in digitization and technology in the last year, leading the customer to an almost impossible choice of loyalty for these digital services.

Therefore, offering better customer experiences has become a key differentiator even above price or product, and 93% of these experts in the region stated that CX innovation is necessary to protect their business from competition. . In Mexico, six out of ten companies have already accelerated their top CX initiatives in the last year.

So what are they investing in? If we see more thoroughly what CX looks like in the company, we can see that much of this maturity is related to the adoption of new processes.

Let’s take customer data as an example, which is a fundamental basis for understanding customer needs and behavior. Taking a holistic view and inspecting CX metrics on a daily basis is something that 72% of companies in Latin America are doing, a considerably higher percentage than in other parts of the world (45% on average worldwide), which includes a greater focus of these companies towards strong cross-channel visibility.

Latin America seems to be listening to changes in the market, such as the massive increase in messaging channels to reach customers wherever they are, such as through chat, social networks and WhatsApp.

Therefore, it is not surprising that experts in Latin America are offering more channels for customers to interact with your brands and almost all of them (97%) have conversational experiences that rank high on their priorities, compared to 37% globally.

CX in health

If we take an example, healthcare companies experienced a 21% increase in interaction with their patients. Such is the case of Saludsa, an Ecuadorian company focused on providing health and medical protection services, which due to the pandemic saw an increase of 400% in its telemedicine consultations, generating more than 34 thousand requests for attention.

With a great search for digital services, the patient remained at the center of their business strategy and today they register a customer satisfaction index (CSAT) of 90%.

Not surprisingly, experts are shifting their customer support teams from a cost center to a revenue generator. By being attentive to their customers’ needs, rapidly adopting new technologies and channels, and reviewing their business processes, 65% of Latin American CX experts are increasing their profits with the service more frequently (65%) than their peers. globally (49%), at the same time as reports a net increase in customers in the last six months (65% vs. 42% globally).

Alex Barrera: “Offering better customer experiences has become a key differentiating factor.”

Of course, this does not mean that the game is won. As customers are always changing their needs and demands, business strategies will continue to adapt to stay ahead.

But as we’ve seen, even in the face of these challenging times, the leading Latino companies in CX have shown that are ready to take a step forward to become a global benchmark when it comes to meeting customer needs wherever, however and when they need it.