An Experiential Escape

Posted by Hey Aiah on Aug 25, 2020 11:19:03 PM

Whether shopping for clothes, makeup, gadgets, sneakers or even dog treats, we all have our own favorite boutique stores. And for some of us, walking into our favorite store is a gratifying experience.

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But today, we are all in a moment of apprehension. When we step outside, we are filled with a strong concern for our health and security.

Businesses with physical spaces that previously offered a unique experience are now faced with a challenge because of social distancing.

How can they still offer a calm and nurturing escape for buyers who are online?

Any retail business today needs to provide an online experience that mimics their physical store.

A fun and trendy business needs to offer an online store with strong visuals and eye catchy content. An eco-friendly, vegan food shop should offer the same variety of products online for their audience with very particular tastes. An innovative tech store should make sure it maintains its exclusivity or authenticity for its online store.

The objective is the same. These businesses should build an online shopping experience that is just as compelling as walking into their actual store.

But aside from building a seamless online customer journey, they need to understand what customers currently need (and perhaps, what they are currently feeling).

Countless webinars are telling us that customer behaviors are shifting – this is an indicator for businesses to constantly listen to the pulse of their customers.

What products and services are more relevant in a post-pandemic world? How can businesses better provide for them?

This can mean businesses should use technology to better gather customer analytics to understand their behavior better.

They can also use automation to improve their operations so they can work faster and serve customers better.

There are also intelligent solutions that can help them speak to more customers without needing to stay glued to a laptop or a mobile phone all day.

Regardless of the industry, businesses need to focus on improving their online customer experience because, to be honest, it may be the only experience their customers will have with their businesses – at least for the next few months.

Topics: customer experience, Technology, "retail", "E-commerce", "shopping"

Frictionless Finance

Posted by Hey Aiah on Mar 9, 2020 9:00:00 AM

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The banking industry is in a better place this year and has submerged from the financial slump in 2018.

As banks are forced to adapt to modern customer lifestyles, there is a substantial shift in the banking industry today. Digital banking is shaping how banking clients manage their finances every day. 

Why is digital banking growing?

Future of banking

 

This shift will also help banks to be less dependent on their traditional channels and be accessible to more clients wherever they are.

Here are the digital predictions that will happen in the banking industry for 2020:

 

5G will greatly improve the customer experience 

Mobile banking will be made easier with faster internet service and hasten the process of transacting with customers online. This will boost the customer experience and will offer a more intelligent business process.

 

Use of enhanced data to project timing of need and purchase propensity information

Knowing the behavior of consumers in terms of purchasing is relevant to predict and understand what the consumers want to buy and need. Having the knowledge of the customer’s journey and behavior using social listening tools becomes an asset to effectively cater to the customers. 

 

Increase in competitive digital-banking-only landscape is going to cause banks to overhaul their entire business, catering to the demands of the digital era

Since the majority of the consumers are relying on digital banking, mobile banking to be specific, banks are now forced to change the landscape of their businesses and strategies to cater to the market’s needs. They make use of the platform as a payment method by bank transferring. 

 

Artificial Intelligence will drive banking processes and strategy

Banks are using automation solutions to make hassle-free transactions. Internal business processes are made to cut down on time and resources, resulting in a more effective and efficient customer experience.

 

Topics: artificial intelligence, RPA, Technology, Banking