FINANCE

Remapping the Mobile Customer Journey

Published 05 June 2019

Contributor

antoine_100x100

Antoine Hemon-Laurens
Quadient
Product Marketing Director – Mobile Expert

Even if statistics tend to demonstrate that mobile devices are the prime access channel to information, customers value a consistent experience throughout their engagement journey. In other words, customers may start to engage online, then meet someone at a branch to complete their request on a mobile device. In this example, customers expect to continue the process on a different communication channel from where they were last. They do not want to waste time supplying information they have already provided. A mobile-optimized interface in most cases remains the key to success. It helps enterprises to speed up processes and stay in touch with customers at all times. However, enterprises’ new challenge is to be able to manage and deliver this seamless and consistent experience for all their products and services on all communication channels. As technology fragmentation explodes, it becomes harder and harder.“sexy” is subjective, which it definitely is. That being said, there are certain elements that are pretty common among popular posts. They’ll improve the visual look of your blog posts, and also make your content more enjoyable and intriguing.

 

What is the present and future of the omnichannel experience?

As alluded to above, the omnichannel customer experience can be differentiated from multichannel management in the sense that it delivers a seamless and consistent experience across all communication channels, which the latter does not provide. Omnichannel enablement is the cornerstone of leading enterprise strategy to undergo digital transformation. These enterprises map their customers’ journey for each of their key business processes. Some of them revisit and challenge the ways things have been done to date; they then redesign business processes, streamlining the customer experience while leveraging new technologies. For instance, companies like DBS would assign 250 customer experience improvement projects to their top 250 executives to improve customer satisfaction, brand loyalty and sales.

What is the present and future of the omnichannel experience?

As alluded to above, the omnichannel customer experience can be differentiated from multichannel management in the sense that it delivers a seamless and consistent experience across all communication channels, which the latter does not provide. Omnichannel enablement is the cornerstone of leading enterprise strategy to undergo digital transformation. These enterprises map their customers’ journey for each of their key business processes. Some of them revisit and challenge the ways things have been done to date; they then redesign business processes, streamlining the customer experience while leveraging new technologies. For instance, companies like DBS would assign 250 customer experience improvement projects to their top 250 executives to improve customer satisfaction, brand loyalty and sales.

What is the place for traditional banks at a time when customer service has increasingly turned into self-service?

Traditional banks are challenged by new incumbents like Fintechs. In a recent report, up of 60% of banks’ revenue could go to these new players in the next decade, McKinsey says. The Fintech industry has received more than $20bn of investment in the last few years and some services like Ant Financial in China seem to have gained momentum. In addition, new technologies such as the Blockchain, Artificial Intelligence and Bots are also looming. Peer-to-peer cryptocurrency Bitcoin’s value was at a record high only a few weeks ago. Artificial Intelligence coupled with bots already provides a great replacement for some low-value tasks today. Some banks already use these technologies to reduce the workload on back-offices & call centres. These technologies will take more and more space as algorithms further develop, and more data is collected. It will most certainly impact banks’ traditional workforce, forcing executive teams to adapt their organization’s size and skills set. However, the banking industry is heavily regulated, and traditional banks have mastered ways to adapt to these constraints. I see traditional banks investing in innovation hubs, fintechs and joint ventures to help them speed up digital transformation and stay at the top of their game.

RECOMENDED EVENTS