Over the last few years the financial services sector has made significant improvements in the decisions it makes that affect customers. The major fines that resulted in big newspaper headlines a decade ago have dwindled, but at the same time customers still lack trust. A YouGov poll last year found that more than half of British consumers (55%) don’t think banks are working in their customers’ best interests. Given that it has never been so easy to switch a bank account or change insurance companies this has long-term negative consequences for financial institutions.
http://www.bobsguide.com/guide/news/2018/Mar/16/why-understanding-the-voice-of-the-customer-reaps-long-term-dividends/
There's a great deal of talk about what retail consumers want and expect and how those expectations are growing every day. Research from Elastic Path reveals that meeting those demands, and delivering a rewarding customer experience, requires flexible e-commerce.
It's a critical strategy, according to the research, for all brands that want to meet ballooning consumer demands during the holiday season and other busy sales seasons such as back-to-school.
http://retailcustomerexperience.com/articles/why-retailers-need-to-adopt-a-flexible-e-commerce-strategy/
The ecommerce industry has experienced a tremendous amount of growth in the past decade. Having jumped from 3.5% of all retail sales in 2008 to nearly 11.9% in 2018, this growth – in combination with a (still) relatively low market share – represents a huge opportunity for more innovative ecommerce companies looking to overtake their traditional counterparts.
However, in order to latch on to the ‘growth train’, these same ecommerce companies (and therefore, ecommerce managers) are going to have to put their best foot forward. In other words, they’ll need to be sure that they are providing a first-rate online customer experience. And the best way to do this is to start listening to the voice of the customer. After all, your customers can be your best resource in terms of understanding what you’re doing wrong (or right!) on your website or mobile app. So allow me to introduce you to online feedback…
https://mopinion.com/online-feedback-ecommerce-managers/
When retail brands started measuring CX through emails or SMS, they thought they would be rewarded with several benefits. For one, they would constantly monitor the pulse of their CX and react quickly to solve customer problems. Besides, CX conversations would start to happen across the organization and brands would have access to a benchmark. Customers would also be rewarded as they would be offered a new way to highlight issues or pass compliments. And, to a certain extent, some of those benefits did materialize.
It was the time when some software vendors were claiming CX would improve if companies simply launched a CX measurement program (be it NPS or something else, as long as it used their software) that encompasses those metrics across the organization.
http://customerthink.com/why-customer-experience-measurement-is-biased-and-how-to-fix-it/
Have you ever purchased something, somewhere? If so, then surely you’ve felt this particular pain: Along with your bag of goods comes all kinds of marginally necessary offers and calls to action. And, if you take “almost no time at all” to complete the retailer’s robust questionnaire, you — yes you! — might be the proud recipient of some type of prize.
A study by Interaction Metrics discovered that, despite good intentions of improving customer happiness and overall experience, retailers are largely wasting customers’ time — and their own — by conducting flawed satisfaction surveys.
https://www.retaildive.com/news/whats-wrong-with-retailers-customer-surveys/525124/
When asked what they saw as the number one opportunity in ecommerce marketing today, 30% of brands said ‘More accurate consumer targeting across retailers.’
Brands also cited three other key opportunities: ‘Improved user experience’ (22%), ‘Voice search advertising’ (14%), and the closer alignment of digital marketing with merchandising teams (8%).
In our recent Era of Ecommerce research report with Catalyst and Search Engine Watch, we found a number of interesting insights on the ecommerce landscape today, what opportunities and challenges exist, and how marketers are — or are not — rising to meet them.
https://www.clickz.com/how-to-improve-ecommerce-performance/220283/
The physical world of Amazon Books has made it to Texas. The online retailer today opens its first store so far this year and it's in Austin's Domain Northside.
The store is designed to hold all the books considered great reads by Austinites and more put together by a team that culls customers' online preferences to fill the racks with books. All books face out in Amazon's version of a bookstore. Below the book is a review card saying why customers said they loved the read.
https://www.dallasnews.com/business/retail/2018/03/06/texas-first-amazon-books-store-opens-austin-better-prices-prime-members/
In-store experiences are here to stay, and the technology being used is getting bigger, better and bolder.
With 81% of UK consumers seeing the physical store as vital to the shopping experience (according to November 2017 research from Vista Retail Support), incorporating new technology can enhance customer engagement and increase sales.
Current retail technology trends highlight the exciting new direction for in-store experiences and underline the importance of blending and balancing offline with online.
https://www.retail-week.com/retail-voice/retail-tech-trends-that-enhance-customer-engagement-/7029305.article?authent=1/
With a string of big names disappearing from the high street, requiring rescue or teetering on the brink, we need to ask, if retail’s battle cry is truly ‘adapt or die’, why have so many chosen the latter in 2018? And as the year draws to a close, which trends will drive the former in 2019?
https://www.thedrum.com/opinion/2018/12/06/retail-marketing-why-will-the-customer-cross-the-road-2019/
With so many consumers to talk to, retailers need to ensure that they personalise their messaging to each every shopper. In this piece, Aaron Masih (pictured below), COO, Persado, tells RetailTechNews how Persado can help retailers achieve this goal.
https://www.retailtechnews.com/2018/05/29/personalising-your-consumer-voice-qa-with-persado/
