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Prepare for the coming of eight customer service ‘megatrends’

Local businesses are being warned to prepare for the arrival of eight customer service ‘megatrends’ over the next decade, or risk losing business to savvier competitors both locally and internationally.

The eight key customer service shifts were identified in the global BDO Service 2020: Megatrends for the decade ahead report, which is based on the views of 479 business leaders around the world.

BDO Australia national chairman Tony Schiffman said businesses should view the report as a warning of what’s to come in customer service trends over the next 10 years – with businesses set to wage an ongoing battle to beat customer expectations, to adopt a range of new technologies and use customer service as a global competitive differentiator.

The eight ‘megatrends’ are:

  1. Global competition will drive up service standards;
  2. Companies must maintain service standards in the face of ‘the need for speed’;
  3. Firms must learn to use the increased transparency brought by social media to their advantage;
  4. Companies must use new sources and types of data to rethink the way they track and personalise their service;
  5. Good employees will remain fundamental to good service but with technology as an enabler;
  6. More firms will outsource aspects of customer service to new kinds of specialists;
  7. The rise of the mass affluent and other customer segments will force companies to find new product or service niches; and
  8. Customer expectations, including the purpose of the store, are evolving with new technology.

According to Schiffman, customer service has never been more important to business than it is now, as globalisation creates significant new consumer markets and aggressive new global markets.

“International and domestic business is more connected and competitive than ever before,” he added.

The full report is available now for download free of charge, here.