13 Sep 2017
Great expectations: how to win competitive edge in the 'now economy'

Great expectations: how to win competitive edge in the 'now economy'

With customer expectations at an all-time high, businesses must evolve and adapt to new ways of working to remain profitable.

Companies born in digital, such as Amazon, Netflix and Uber have dramatically disrupted the business landscape. Convenience is king and services are increasingly available on demand, 24/7.

So how can your business successfully sustain the agile, efficient customer-centric strategy required in the digital age? We highlight some key considerations...

Make every interaction easy

Be sure to understand how your customers want to contact you and adapt accordingly. Technology that enables swift, omnichannel communication will help you respond to their needs effectively, whatever the contact method. If any interaction falls into the 'too difficult' category, be it a missed call, lost email or unanswered chat message - time-starved customers will swiftly move on. A positive experience is key to long-term loyalty.

Embrace the power of out of hours

Equally, recognise when your customers want to contact you and, if necessary, consider extending your opening hours. For example at Bistech, we've seen an increase in firms extending their evening hours to respond to enquiries made after work. With the right technology, these enquiries can be routed to an out of hours team that is either located centrally, across multiple sites, or enabled to work from home - limiting additional running costs whilst maximising opportunity. 

Activate automation

Enabling the simple automation of customer reminders for routine purchases such as MOTs, eye tests or insurance policies will get results. Reminders sent via the customer’s preferred communication method, be that text message, email or traditional mail, makes the customer journey easier, enhances loyalty and will boost repeat business.

And more advanced options for automation are gaining pace, with Artificial Intelligence (AI) assistants and bots becoming a reality across many sectors including retail, hospitality, legal and professional services. AI can offer new potential for business growth, change how work is done and drive productivity. 

Support self-service

Self-service options available around the clock are on the rise across a growing number of industries. Online self-service tools can deliver the joint benefit of serving the customer as and when they want, whilst reducing administrative overhead. However, if executed poorly, self-service can cause frustration and a negative customer experience! A clever, well-engineered approach is crucial.  

Anticipate with analytics

With more information than ever at companies’ fingertips, business analytics can speed decision-making and help organisations remain agile. Fast, intelligent, informed decisions around business operations and processes are crucial to keep ahead of the competition in a rapidly changing marketplace.  

Go digital or go home

Business lifecycles are decreasing and firms that fail to address the ‘now economy’ will be left behind. Companies adopting technology to support continuous improvement and genuinely enhance customer experience will be in a stronger position for long-term success. To find out how Bistech can help with your digital strategy, call one of our experts on 03330 11 22 55