It's now more important than ever to establish and maintain a good work environment, and transparency is a key component of that.
Today, there is an information overload and everyone is well-informed. So most people prefer to work with companies that are known for their good work environments. It is easy to check the reviews and ratings of any company, so businesses can’t afford any negative publicity. It's now more important than ever to establish and maintain a good work environment, and transparency is a key component of that.
Maintaining transparency sounds great in theory, but is not that easy to implement practically. It takes a lot of time and effort to create a truly transparent company and work environment.
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Chart of the Week: 40% of customers are highly satisfied with agent-assisted methods of communicating with companies
Customer experience (CX) is a huge part of driving engagement, sales and repeat custom. While companies understand why good CX is vital, there seems to be a disconnect between what customers view as good CX and what businesses think create great experiences.
According to new research from NICE inContact, businesses tend to underestimate customers’ satisfaction with agent-assisted methods of customer service while over-estimating satisfaction when it comes to self-service methods like chatbots.
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While the rise of customer service methods like automated assistants and chatbots is increasing and customers are getting used to them, they may not be offering the experience that companies…
Reducing customer churn is a powerful strategy. An HBR study found that positive customer experiences are associated with big increases in future revenue. But how do companies stop customer churn?
Customer churn is an expensive problem for businesses. Acquiring a new customer costs at least five times as much as retaining a current one. Meanwhile, existing customers are 60%-70% more likely to make a purchase than new customers. Chasing prospects costs businesses marketing dollars and sales.
Companies are better off spending their money trying to reduce churn by improving customer retention. Many businesses use tools like loyalty programs, customized email responses, or personalized thank you notes to make customers feel valued and important. A recent study by Motista showed that when customers have an emotional connection to a company, they have a…
Is your business equipped to offer customers personalized experiences across multiple channels?
In the era of instant communications and instant gratification, relationships between businesses and customers are changing. Driven by customers’ need for personalized and seamless interactions, brands are constantly adopting new communication channels, which allow them to reach customers at any stage of their purchasing journey.
Making a purchase nowadays is easier than ever as customers can go from discovering a product on Instagram to an online checkout system in less than a minute. With 51% of UK’s consumers saying they prefer to shop online, the pressure is on for businesses to engage customers in high-touch point, more personalized interactions.
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Three ways financial services companies are leveraging AI to enhance the customer experience
Artificial intelligence is having a transformative impact on industries and sectors across the world. From retail to manufacturing, advanced AI technology has already changed how we interact and do business with one another. This trend is only going to continue and whilst some worry about a Terminator-style apocalypse, many are looking more optimistically at the opportunities ahead.
The financial services sector has experienced some really interesting developments over the last five years. Changing regulatory compliance requirements and shifting customer demands mean that financial services companies are turning to new technologies to manage different challenges and opportunities. Many of these can be grouped into three broad areas:
Combating fraud and financial crimes
Managing credit and regulatory risk
Enhancing the customer experience
Within this post, I’d like to look at some of the ways financial organizations are using AI to enhance the…
Recent research shows that bots can communicate better and faster than humans
It seems that almost every day, pundits warn us about the dangers of implementing AI-based apps too quickly. One oft-cited Oxford University study predicted that nearly half of total US jobs could be lost through automation. But fear not, when it comes to automation in the context of higher education. Because here, AI-powered messaging apps are actually a very good thing.
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These apps significantly lower administrative costs while also raising student satisfaction and enrollment rates. Specifically, these apps have:
Lower service costs. Schools just need to pay for the 'startup' costs of their chatbots and related apps. Very few human support agents…
People always prefer a brand that keeps them happy and satisfied, so improving your customer experience will be beneficial
‘Satisfaction’ and ‘happiness’ are the two critical factors that keep customers loyal to any brand and should be a be driving factors of your customer experience strategy.
People always prefer a brand that keeps them happy and satisfied. Happiness can be achieved when the product or service works perfectly and the customer service offered is exceptional.
Customers are also satisfied when a product or service is able to satisfy their exact needs, which means understanding what these are.
So, how can you provide a pleasurable experience to your customers so that they remember you and return again and again? Here are five great ways to improve the customer experience offered by your company in 2019:
1. Leverage the power of artificial intelligence
Gartner has already predicted that by 2020, virtual agents like chatbots will…
A growing patchwork of domestic and international data privacy bills are being rapidly bolstered and enacted
Recent data privacy scandals have sharply focused the attention and regulators and lawmakers on big data, ad tech and direct marketing. In response, a growing patchwork of domestic and international data privacy bills are being rapidly bolstered and enacted.
Digital marketing, by its very nature, involves the collection, use and dissemination of personal information, in one form or another. The recent onslaught of data privacy legislation has left marketers scratching their collective heads as to what "personal information" means nowadays and how they can comply. Interestingly, very similar considerations have the Federal Trade Commission calling on Congress to enact federal privacy legislation that balances consumers' concerns with business' need for clear rules of the road.
How has all of the legislative activity actually impacted digital marketers? How is it likely to do so moving ahead?
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How quickly and precisely you respond after an online security incident determines whether you retain customers
Many small business owners think it won't happen to them. They're too small, and hackers only seek out big targets like banks, insurance companies or big-box stores. Unfortunately, when it comes to a cyber attack, the size of the business doesn't matter. It's likely not if you'll suffer an attack, it's when.
With anti-virus software and firewalls in place, a small business can feel a certain sense of security. But attacks and data breaches can still happen. Many reports suggest the likelihood is on the rise.
So, if you own a small business and your website or data is hacked, what can you do to restore and regain your customers' trust? This may come as a surprise, but the way in which your business responds (hopefully with resilience) to an attack may mean more…
Why local customer service ecosystem matter?
The concept of customer experience is built around delivering value. One of the integral elements of the value proposition of any business is customer service.
A well-oiled customer service machine is the multi-faceted beast. It is capable of working all-round insight miracles for multiple aspects of the business operation. The customer service ecosystem is a swiss army knife for information gathering.
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Here’s why:
It is designed to keep feedback with the user audience, maintain their basic needs and demands.
It is also a valuable source of information regarding user habits and the tendencies of product/service use.
The interaction with the customer points identifies where there is…
