Adapt or perish…How prepared are you?
Attention span of consumers continue to decline progressively. In such an age how are you, as an organization, prepared to engage in the fight for customer acquisition, customer retention and customer engagement where you have a limited time frame, riddled with fleeting customer contact and a plethora of competition, to make an impact?
Adapt or perish is the adage that most businesses needs to follow today-if they are not already.
As per a study conducted by KPMG*
- 89 percent of consumers began doing business with a competitor following a poor experience
- A customer is four times less likely to defect to a competitor if the service-related problem is handled effectively.
- A 5% reduction in the customer defection rate can increase profits up to 95%
Do not be an endangered species-Plug the loopholes
What makes the winner THE WINNER? An Accurate customer need analysis, a quick customer on-boarding process, great customer experience coupled with a prompt turnaround time for customer service requirement.
Any gap in any of these requirements are a loophole in your processes. To be at the top of your game, these loopholes needs to be plugged. If not, you are an endangered species that needs to adapt to the digital environment. While you are being complacent, your lesser known competitor can wield the disruptive power of technology and whisk away your prospects with services not as potent or as dynamic as yours.
The bottom line
Wield the disruptive power of technology to reduce the go-to-market time so that you have a first mover advantage. Leverage this time to make maximum impact on your prospects and reduce the customer on-boarding time which can bring down drop rates and abandonment
The winner takes it all
Whether your services are for end customers or business clients, you need to know that business environment has undergone a dynamic shift. You need to be on your toes and reach your customers before your competitor does. If you are a banking solutions provider then you must be looking to up the number of new account openings or increase value of commercial loans; if you are an insurer, you must be looking to sell the maximum no. of insurance; if you are into investment business, you must be looking for customers who can invest. So what is common in all these scenarios? All these customers are bombarded with tens and thousands of communication from you as well as your competitors. So who wins the race? The Winner makes the first move and gets to the customer first.
- Most of you must have already engaged field sales force to engage with customers but is it effective?
- Is your sales team pitching the right solution to suit the prospect’s needs?
- Are the sales visit in tandem with successful conversions?
- Or is there a significant drop in conversions due to lengthy on-boarding procedure?
Mobile capture solutions to the rescue
What if your Field sales executives were equipped with an application on their smart phone or tablet devices using which they could demonstrate to prospective customers your products and services offerings?
What if your field executives can accurately predict the exact needs of the prospect and pitch accordingly?
What if using the same application they are able to capture customer information from forms/documents/KYC documents?
What if using the same application the executives are able to transfer customer information to your central office for immediate processing?
Sounds like no lag time in customer on-boarding
If you are a customer facing organization that is looking to bring in operational efficiency, bring down cost, be more accessible to customers, assess customer needs accurately and guarantee a better customer experience at every point of contact, while at the same time looking to maintaining sanctity of data capture, then Mobile Capture solutions is the disruptive technology that you need to look for.
