The finance industry has been undergoing quite a few changes over the last few years. Financial institutions that were once very traditional are now looking to adopt best practices used by more agile and flexible FinTech organisations. These practices that will not only enable these organisations to adapt to a fast-changing and increasingly tech-driven industry ecosystem, but also meet the rising expectations of their research-savvy and technologically inclined customer base.
In this article, we will analyse the current state of the financial industry as well as summarise 5 best practices for Financial Companies entering into the ‘Digital Age’ .
https://mopinion.com/best-practices-for-financial-companies-entering-the-digital-age/
A recent Gartner study into how businesses are implementing emergent tech revealed some insights into the growing use of artificial intelligence in customer service and support applications.
According to Gartner's Technology Roadmap Survey, approximately 37 percent of the 452 business leaders polled said they were "either piloting or using artificial intelligence bots and virtual customer assistance (VCAs)." Of those respondents, 67 percent said they felt such technologies were "high-value tools."
https://www.businessnewsdaily.com/11318-businesses-more-confident-in-ai.html/
With the advancements and changing trends in digital technology, digital marketing is expected to take giant strides in the future. We see E-commerce players like Amazon prioritizing marketplace and the search engine giant, Google testing out new approaches such as shopping tab to enhance customer experience and leverage buying intent and giving importance to customer experience and engagement by rolling out algorithm updates. Voice searches and Vernacular Searches are growing at a rapid pace and the trend will witness an exponential growth by 2020.
https://www.entrepreneur.com/article/327284/
Despite the e-commerce boom, numbers show shoppers still want the touch-and-feel experience of brick-and-mortar — recent data from the National Retail Federation found that nearly 80 percent of consumers primarily shop in traditional stores. While the increased foot traffic is great for a retailer's bottom line, it can wreak havoc on sales associates if you don't give them appropriate tools to manage the many needs and requests of shoppers in real-time.
https://www.retailcustomerexperience.com/blogs/using-push-to-talk-technology-to-boost-the-customer-experience/
DIY Surveys aren’t what they used to be. We are in an age where technology can extract insights, patterns and even sentiments from structured and unstructured conversations on multiple platforms; and feed them directly into campaigns. Leela Srinivasan, CMO of SurveyMonkey, brings us up-to-speed on ways that technology is elevating DIY surveys to a science, and what marketers need to do to drive optimal business outcomes from them.
https://www.martechadvisor.com/articles/bi-ci-decision-science/using-customer-surveys-for-smart-insights/
Do you remember that joyous feeling when the thing preventing you from having an easier life was removed? Can you remember what it feels like when the elephant that was sitting on your chest finally gets up? Have you ever experienced relief when that huge barrier preventing you from being more customer centric was finally removed?
The irony of many legacy contact center communication platforms that are being used to serve customers often prevent you from doing it effectively. Most of these platforms were primarily built from voice being the foundation and then as channels grew, they were merely added onto the voice channel versus being merged with voice from a workflow and queuing perspective.
http://customerthink.com/contact-center-technology-finally-enables-you-to-be-customer-centric/
By using event detection to listen to patterns in data, and then applying Artificial Intelligence, your business can now sense these moments of needs as they are happening
Customer experience or ‘CX’ as it is popularly referred to is one of the most important verticals that businesses need to address in order to thrive. And tanks to artificial intelligence and data, CX can be achieved via the use of these technologies in an improved and efficient manner. From artificial intelligence to IoT, Don Schuerman, CTO and VP Product Marketing, Pegasystems, states 7 ways in which technology will aid customer engagement.
https://www.dqindia.com/artificial-intelligence-technology-improved-customer-engagement-cx-2019/
Technology has been the cornerstone of economic growth around the world for hundreds of years. It has underpinned the last three industrial revolutions and is now the driving factor in today’s Fourth Industrial Revolution — marked by emerging technologies in a variety of fields.
Unsurprisingly, artificial intelligence is one of the key technologies driving this new revolution. As described in the 1950s by the father of modern computer science, Alan Turing, “What we want is a machine that can learn from experience.” His paper, “Computing Machinery and Intelligence,” is the earliest description of neural networks and how computer intelligence should be measured. While the concept of AI isn’t new, we’re only on the cusp of seeing AI drive real business value in the enterprise.
https://techcrunch.com/2018/12/13/powering-customer-journeys-in-the-age-of-ai/
As creatures of habit, established customers will come back to your business unless you give them a reason not to. 92% of consumers will stay loyal and increase their business with a company when their queries are handled quickly and effectively. However, bad communication and poor customer experience is overwhelmingly (81%) the cause of clients taking their business elsewhere. With over 60% of companies citing customer experience (CX) as the best tactic for increasing customer lifetime value and loyalty, seamless communication is the key to addressing clients’ needs.
https://www.uctoday.com/news/blog/bad-customer-experience-a-good-reason-to-jump-ship/
Anyone selling into the government market knows it takes time, patience and investment. The rewards can be great, both intangibly through satisfaction in serving the public good, and financially by winning contracts that can be stable and long term. But competing in this space is no small feat.
It’s no longer enough to count on past performance, a low price and (for smaller businesses) a set-aside designation to give you the winning advantage. Correctly positioning and actively promoting your brand and your win themes has become equally important to standing out in a crowded market.
https://washingtontechnology.com/articles/2018/08/24/insights-weisel-marketing-differences.aspx/
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