Adapting to the Needs of 'New Bharat’ and its Customers

In today’s socio-economic landscape, a transformation is rapidly engulfing India. The ‘New Bharat,’ with its evolving dynamics, digital strides, and diverse cultural fabric, has given rise to a business perspective that must be adopted to thrive.

The customer today is faced with an increased digital penetration. With the rise in the middle class and the expansion into Tier 2 and 3 markets, the customer journey now looks completely different. 

According to census data and market research reports, over 65% of India's population resides in tier 2 and tier 3 cities and rural areas. This demographic segment presents immense potential for businesses across various industries, from consumer goods to financial services. These markets represent a vast, untapped consumer base, and expansion is now necessary for all businesses.

With consumers from all spheres of the economy and demographic segments encountering numerous products and services digitally, it's essential for brands to differentiate themselves. This entails establishing a unique identity, providing better assistance throughout the buying journey, and tailoring these journeys to deliver deeply personalized experiences for each customer.

Unveiling the Era of Digital Transformation

In this New Bharat, technological advancements play a pivotal role. From e-KYCs, to accessing all important documents on DigiLocker, to easily accessible UPI payments, everything points towards a digital transformation. 

‍But is the ground reality aligned with our expectations from a DIY Digital Economy? 

In India, it's not about DIY (Do It Yourself); it's a DIFM (Do-It-For-Me) market. Every step of the customer's journey demands education and assistance.

When we step into tier 2/3 markets, the landscape changes. Users here might not be as tech-savvy, making assistance even more crucial. In these markets, providing the right support becomes the key to unlocking success and providing a better customer experience.

Customer Experience in a Digitally Transformed Bharat

Businesses today want their customers to remember them. No new products, gadgets, and self-serve models can guarantee a space in the fickle memory of today’s customers. The only way to create this recall and turn them into repeat customers is by providing a memorable experience and one that solves their pain points.

The onset of COVID-19 became a catalyst to accelerate digital transformation in the country. While the goal is digital transformation, it can only be achieved through a sales model that ensures customers have all the support they need to access and experience this transformation. 

Take the example of investment platforms like Upstox. Based on a study done in 2021, 70% of over 4 million Upstox customers are first-time investors.

Sales in a Fintech brokerage is majorly selling to a user who does not know what they are getting into. When they start as a lead in their sign-up and onboarding journey, they don't know the steps they need to take to make a transaction. The complexity of this entire process makes converting the user into an active transacting customer a huge challenge. With a dedicated team to assist customers through onboarding and activation, businesses can significantly enhance the customer experience, leading to a thriving active user base.

What Lies at the Heart of Exceptional CX

Great businesses see service as not an additional cost but a sales opportunity.

According to the latest CX stats by SalesForce, 51% of customers will never do business with a company again after only one negative experience.

Companies like Amazon, Airbnb, and many more have focused relentlessly on customer satisfaction and working on their feedback to improve their customer experience and boost their ROI.

Crafting Tailored Experiences and Lasting Impressions with Data-Driven Insights

At the heart of exceptional CX lies the art of personalization. To drive this efficiently, you need to understand the voice of your customer and deep-dive into their insights and feedback. 

We continue investing millions in digital, but  the contact center experience does not replicate the same excellence. When it comes to customer assistance and support, BPOs and call centers operate as ‘body shops’ vs driving their own ‘centers of excellence’.

At SquadStack, we've built a sales transformation platform that seamlessly blends the expertise of highly-trained callers with cutting-edge technology. The data and insights we capture through system-driven models empower your business to make informed decisions and guide improvements to your product and marketing initiatives - ultimately improving your customer experience.
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The Challenge of Personalization in Indian CX

While 'New Bharat' surges ahead, Tier 2/3 markets present unique challenges. Limited digital infrastructure, lower purchasing power, language barriers, and diverse cultural preferences create a distinctive customer journey.

The languages that we speak are adulterated. For enhanced personalization, it is important to have people in our system who can easily switch from one language to another and have access to tools that can enable them to do this seamlessly. 

At SquadStack, we understand the importance of language diversity and constantly innovate to navigate this CX challenge seamlessly.

Our tech-enabled telecallers have access to guided scripts on the platform that can be easily translated into either Hindi or English mid-conversation, without disrupting the flow. 

‍Learn more about how SquadStack’s Partner App facilitates seamless customer interactions.

To further solve this challenge of mixed language environments and accents, SquadStack has built a mammoth Automatic Speech Recognition System. The ASR system caters to individual needs within a linguistically diverse environment. It can seamlessly integrate with existing telecalling setups. Its remarkable transcription accuracy enables agents to provide prompt and precise responses that enhance customer satisfaction.

The Balancing Act in India’s Diverse Social Fabric

With rapid digitalization, there is a need to re-introduce the concept of humanizing interactions and experiences that are deeply digitized. While a digital-first approach interspersed with automation guarantees efficiency and speed, human experiences are subjective and not purely algorithmic. There must be a Midas touch in this heavily digitized environment of unending workflows. 

Despite the number of times we decline customer service calls every day, it's the real individuals on the phones and in chats that we rely on when confronted with genuine problems.

At SquadStack, we seamlessly integrate skilled agents with empowering technology, providing businesses with comprehensive visibility, detailed reporting, and actionable insights into the performance of each campaign and their assigned callers.

Right from our system-driven outreach platform to our caller quality monitoring, we have combined the infallibility of technology and AI, with the experience and intelligence of human experts.