Easy always wins – The competitive landscape is changing

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EASE TRUMPS PRICE

Thanks to the shift in the customer experience largely influenced by the World Wide Web and the Internet Of Things, the entire competitive landscape is changing. Consumers now prefer ease over price, insurance included. Consequently, it is the companies that provide frictionless experiences that are both relevant and convenient that will always win.

IF CUSTOMERS DIDN’T HAVE TO DEAL WITH YOUR COMPANY THEY PROBABLY WOULDN’T

From the customer’s point of view the best customer experience is one that is completely effortless. Truthfully, if customers could fulfil their needs and desires without having to deal with your company they probably would. This is evident in the rise in popularity of customer self-service and other customer focused services such as Uber, Netflix, Spotify and Apple Pay. But this doesn’t mean that customers don’t want to be able to jump from self-service to full service seamlessly as well. The desire for a frictionless experience is not limited to a straight one channel experience; customers want to be able to change from channel to channel without a glitch. Meet these customer expectations and they are likely to return time and time again.

THE TOOLS NEEDED

Digital technology gives businesses the set of tools needed to deliver great customer experiences like magic. Not only does technology make up a huge part of today’s buying channels, but also sets the tempo for today’s market. Without it, businesses are simply missing opportunities by not offering the choice and speed of service that consumers have come to expect.

Technology now aids many areas of customer engagement, such as email marketing, Customer Relationship Management, mobile marketing, mobile apps, customer self-service accounts, online chat, online instant quoting, and social media marketing and customer service; the options are almost endless. While it’s not necessary to adopt every single available technology out there, it is important to consider who makes up your client base and target market, then research their consumer behaviour patterns and preferences. This will guide your path to creating a seamless experience for your customers with the assistance of digital technology.

STRATEGY IS JUST AS IMPORTANT AS TECHNOLOGY

While technology is very helpful and does reduce processing time significantly, it is important to remember that technology is not a ‘set and forget’ tool. It is just as important to develop a strategy for each chosen channel’s performance, how they will be managed and how will they integrate with and complement each other.

Here are three steps to creating a frictionless customer experience strategy:

  1. Document the customer journey and all the touch points they could possibly make before, during and after interacting with a representative from your company.
  2. Once you have everything set up, physically go through the customer journey yourself and see what does and doesn’t work.
  3. Create a workflow for your staff that complements the customer journey and its touch points. Ensure the whole team are on board and are aware of their responsibilities, as well as the need for them to work together as a team.

Once you have unveiled your frictionless experience to the public remember to monitor its success, keep up to date with buying trends, and review the whole process a couple of times a year to make any additions and improvements. You may like to consider surveying your clients once a year for constructive feedback. There’s no such thing as perfect, there is always room for improvement.

2 thoughts on “Easy always wins – The competitive landscape is changing

  1. Pingback: Top Technology Trends for 2017 | Ebix Australia Blog

  2. Pingback: How Not to do Digital in Your Business | Ebix Australia Blog

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