Customer experience in the world of Internet of Things

The first two waves of internet created companies like Google, Yahoo, Facebook, Twitter etc and gave growth opportunities to established companies like Microsoft, Apple, Samsung, IBM etc. This next wave of internet of things will also give rise to new companies while providing growth opportunities to existing brands

Internet of things connects people, processes, data, and things (devices & systems) to create new revenue streams, stand out of the competition, and deliver better experiences. Devices and systems start communicating with each other in the background to provide enterprises a better insight into the customers, streamline their operations, and offer relevant products, solutions, and services.

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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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July 9, 2015

How Businesses Can Leverage IoT

What is Internet of Things (IoT)?

The internet connectivity these days is typically limited to traditional devices such as desktop and laptop computers, smartphones and tablets. The Internet of Things (IoT) extends this connectivity to a wide array of devices and everyday things that boast embedded technology.

Gartner says, “The IoT is the network of physical objects that contain embedded technology to communicate and sense or interact with their internal states or with an external environment.”

WhatIS.com Definition: “The Internet of Things (IoT) is a scenario in which objects, animals or people are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.”

Continue reading How Businesses Can Leverage IoT

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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July 9, 2015

Use data to become customer-centric

The rise of technology, communications and mobile devices has transformed customer experience from human to human interaction to human to machine interaction. The digital customer is empowered more than ever and is willing to switch-over to other service providers to get superior experience.

Businesses that are going digital or expanding rapidly will lose the personal touch as they cannot physically interact with every customer, but on the brighter side they store every interaction of the customer. This treasured customer data can be analyzed to better understand the customer and provide expected experience.

Continue reading Use data to become customer-centric

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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May 27, 2015

Deliver superior customer experience while reducing costs

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

More Posts - Website - LinkedIn

April 29, 2015

The new paradigm in customer communications management

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

More Posts - Website - LinkedIn