ist magazine October 2022

Feature

subsequently, proactively respond to remove them from the equation,” said Lee Hyang-eun, Managing Director of the Customer Experience Innovation Division at LG Electronics. “Brand competitiveness comes from offering a CX that fosters an emotional relationship with the customer and, to be successful at this, brands must be effective at increasing the positive emotions their customers experience.” In the past, having competitive tech nologies or products and an aggressive marketing strategy was sufficient. However, in this new era, a company must focus all available resources on the needs of the customer, Hyang-eun said. CX, which includes direct, indirect and even virtual experiences, is where all such efforts come together. Direct experience comprises various catego ries, including exploration experience, purchase experience and user experi ence, along with the sharing and resale experience. For companies to compete in today’s market, offering a differen tiated CX is essential, especially where the MZ Generation (a widely used term in South Korea that encompasses millennials and Gen Z) is concerned. With members of this group already accustomed to experiential marketing, designing a diverse range of experiences for them is exceptionally complex. Favoring unique shopping experienc es online and offline, the MZ Gener ation generally opts for experiences with optimized digital convenience and minimal interruptions. To provide a seamless CX without any hassle, compa nies are actively undertaking an array of digital transformation (DX) initiatives. From a micro perspective, DX plays a significant role in CX, enabling com panies to resolve pain points in a short period of time – exactly what consumers expect and demand in today’s market. The ultimate goal is the innovation of CX, something that is now essential. Conducted continuously in the back ground, silent and subtle support for better CX backed up by variable 

Why is the Customer Experience Essential to the MZ Generation? AND WHY IS THAT IMPORTANT? At the essence of CX (customer experience) is an increased

customers’ expectations, successively in creasing the attractiveness or appeal of a brand, product or service. And, with the recent business landscape reorganizing around online and omni-channels, “dig ital” has also become an integral part of CX and a key priority for companies. The age of relational value: The customer-company interaction The channels that users encounter and experience in the digital sphere are so diverse, with substantial variables in terms of the emotional responses elicited. While all variables cannot be controlled, the direction or even the de gree of satisfaction can be modified by removing the source of dissatisfaction. “Thorough analysis allows companies to determine what these may be and,

focus on how customers feel when they experience a particular brand, product and service. Nowadays, comprehensively understanding CX has never been more fundamental for company growth. No longer confined to customer-product interactions, CX refers to the total flow of any interactions between the compa ny and the customer, targeting all the experiences and emotions that customers have and feel from the moment they first learn about a product or service, to purchase, use, repair, disposal and so on. Considering the emotions and reac tions that customers have, CX – if done properly – goes beyond traditional defi nitions to provide value that surpasses

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October 2022 istmagazine.com