Revenue needs to be driven with great customer experience

Revenue needs to be driven with great customer experience

29 MARCH 2017 – 12:23 PM LYNETTE DICEY

According to a recent Forrester Report, titled “Drive Revenue with Great Customer Experience, 2017” many customer experience (CX) professions are challenged when it comes to finding a connection between CX and growing revenue.

The report analysed revenue potential from improving CX in 13 industries that Forrester covers in its CX Index and provides data that CX professionals can use to build a case for investing in CX. In every industry analysed Forrester saw positive revenue potential from improving CX.

According to the report, there are four industry-specific factors that shape CX revenue models.

The first is to find out what the barriers are to switching from one service provider to another. For example, if customers are charged for switching, they’re unlikely to move, despite poor customer experience.

The second factor is relationship value. Forrester’s model looks at the size and […]

Estie2017-04-20T20:18:05+02:00April 20th, 2017|Entrepreneurship, Environments, General management and CSR, Marketing|

Digital trends: how 2016 will inform 2017

Digitally transformed businesses will investigate artificial intelligence, and are likely to embrace chat to streamline customer service, writes Anton Moulder

What are the digital business trends that will influence your business in 2017? Digitally transformed businesses will investigate artificial intelligence, look at Bitcoin’s blockchain, are likely to embrace chat to streamline customer service, and will put what makes sense to the customer — rather than the business — at the centre of services design.

Artificial intelligence

The year 2016 was the year when everyone explored artificial intelligence (AI), but 2017 will be the year that local companies put budget into, and start using basic AI. For those who have not fallen down the AI rabbit hole or seen Westworld, the aim of artificial intelligence is for machines to replicate human intelligence. This means they can sense their environment, and use autonomous, rational “thinking” to do something or to reach a goal.

Tech monoliths like […]

Estie2017-04-20T20:13:42+02:00April 20th, 2017|Entrepreneurship, Environments|

Current affairs in banking industry

Nedbank launches Africa’s first interactive ATM

Nedbank officially launched the very first Interactive Teller and Banker ATM on the African continent, and in so doing, becoming the second bank to do so in the world.

The device effectively transforms a conventional ATM into an interactive on-screen banking session with teller anytime of the day or night. This ATM also responds to the growing trend and need for business and individual clients to make large deposits and withdrawals at unconventional business hours. It allows card-less deposits […]

Estie2016-12-05T12:33:15+02:00December 5th, 2016|Environments, Other, Recources|

Trading hours

Longer trading hours demanded, report finds

Posted on 13 Apr 2016 13:20

More than 80% of consumers in Kenya, Nigeria and South Africa want longer trading hours at malls, the Broll Shopper Segmentation Report 2016 Volume 1 has found.

[…]

Estie2016-08-04T21:30:34+02:00April 19th, 2016|2016 Case Study, Environments|

Apparel

Apparel and Footwear Specialist Retailers in South Africa – Mar 2016

TRENDS
Many international retail companies are progressively looking to countries with emerging economies in order to offset the slow growth they are recording in countries with more developed economies. […]

Estie2016-08-04T21:33:19+02:00April 19th, 2016|2016 Case Study, Environments|

Porters model: 5 + 1

DEFINITION of Porter’s ‘Six Forces Model’

A strategic business tool that helps businesses evaluate the competitiveness and attractiveness of a market. The six force model provides an industry-view and analyzes six key areas:

Competition – Information regarding present competition
New Entrants – Information regarding the ease with which new competition could enter the market
End Users/Buyers – Information regarding the buyers’ abilities to affect price
Suppliers – The number and type of sellers
Substitutes – The ease by which a product or service can be substituted
Complementary Products – The impact of related products and services already in the market
Click here to read the rest of the article …

Estie2015-11-30T09:48:47+02:00July 25th, 2015|Environments|