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Organizations like Google and Apple have taken customer experience through innovation to the next level. Ernst & Young say that by 2030 the purchasing power of middle-class sector would triple due to rapid growth in emerging markets. Be proactive by providing an effortless customer experience to drive loyalty and fuel growth.

Gartner has closely studied the relationship between customer experience and their willingness to buy more, switch to a competitor or recommend the company to family, friends or colleagues. Create more engaging and seamless experience to your customer to stay loyal and look less into your competitors. At the same time, these customers are likely to become evangelists for your products and services.

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How does customer loyalty help in improving revenue?

  • Revenue from cross-sell and up-sell can only happen when your customers are loyal to you. Example your customer would like to upgrade on a flight, take another loan from the same financial service provider, and get a family plan from a telecom service provider.
  • Customer experience can have a positive impact on your revenue through the power of evangelists. Every business knows that “your customers are your best sales people”.

How does customer loyalty help in reducing costs?

  • It is widely know that it costs more to acquire a new customer than to retain existing ones. A great customer experience reduces customer churn thereby driving profits. “Money saved is money earned”- is a globally known adage.
  • Organizations should invest in innovative technologies that improve customer experience and reduce operational costs. Modernizing critical customer interfacing business processes like customer onboarding, self- service portals and communications across various touch points delivers immediate business benefits.

Innovative solutions that federate existing systems operating in silos to gain 360 degree view of customer interactions can quickly improve customer experience and help reduce expenses by equipping all stakeholders with right information of the customer at the right time in right format.

In10stech

Our enterprise software products are used globally by Fortune 500s for digitalization of customer experience life-cycle, resulting in greater customer-centricity and reduced operational expenses

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Empowered customers have transformed Customer Communications Management (CCM) from traditional print based communication to personalized and targeted engagement, from cost-based to profit-enabled with TransPromo, and from customer service to managing customer experience. Today’s customer communication is all about revamping customer touch points for generating higher revenues, enhancing experience and streamlining operations.
Organizations have various departments like marketing, sales, support with individual business objectives and functions. Customers interact in a cross-functional way and are not interested in various departments or teams. Customer Communications Management solution should empower stakeholders with outside-in view to cater to customer expectations.

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Customers interact with organizations based on preferred channels. Customers switch between various digital channels while communicating and organizations need to provide a seamless experience across all available channels. CCM’s centralized hub with its Omni-channel strategy can handle such imperative needs.
In today’s service management era service excellence is driven by KPIs. Example a call center operator closes an interaction with a customer quickly to drive the call-to-resolution KPI up but loses on the opportunity to cross sell and up sell due to lack of information on the customer. The CCM’s centralized hub will give the operator a 360 degree view of the customer (services used across lines of business) for spending quality time to generate revenue from up and cross selling.

Similarly CCM can be used throughout the customer journey to benefit organizations in improving their customer experience index and enhance customer loyalty.

In10stech

Our enterprise software products are used globally by Fortune 500s for digitalization of customer experience life-cycle, resulting in greater customer-centricity and reduced operational expenses

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To stay ahead in this digital race, businesses need to better understand their customer to respond faster than their competition. Big data is the wealth that businesses have accumulated over years from recording customer interactions and behavior. Various departments collect data and create good analytics but cannot collate this data in the right ways to help all the stakeholders/business users to make informed decisions.

Enterprises like Google, Amazon and Netflix can analyze their data in milliseconds and have automated processes in place that respond to customers based on intelligence.

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Even though a good amount of past data is available, the present competition demands all stakeholders/business users to have a 360 degree view of customer interactions by analyzing relevant data. Having big data is not enough anymore, you need relevant data. Break the data silos with a unified data source to extract relevant data. With relevant data, businesses can maximize up-sell and cross-sell from existing clientele.

Replace your legacy technology that handles big data and move to a more integrated, responsive and data-driven automation.

In10stech

Our enterprise software products are used globally by Fortune 500s for digitalization of customer experience life-cycle, resulting in greater customer-centricity and reduced operational expenses

More Posts - Website

Read more