How Digital Transformation is Driving Customer Experience
The global pandemic permanently changed the way brands deliver customer experience. Physical contact centers experienced shut down across the globe and businesses were forced to work remotely. Buyers also got home confined. Managing remote representatives and home confined buyers posed a daunting challenge that made businesses significantly accelerate the development of digital customer experience capabilities.
Digital transformation is motivating brands to change their legacy business models and embrace the new buyer-friendly models. What’s interesting about the current wave of transformation is that it is being driven by the new-age tech-savvy customer. According to a 2020 global CIO survey, “69 percent of respondents cited improving customer experience as a very important factor in driving their transformation efforts”. “Improving existing and new products/services are also behind the efforts pushing for companies' digital transformation” (Source: Statista).
Today, customers expect to be served in relation to what they are doing anytime, anywhere, and on the device of their choice. It is the buyer's journey that dictates the brand's digital strategy. Businesses must embrace technology to deliver an unmatched customer experience to this new “always-connected” buyer. Digital transformation is considered to be the best opportunity to rebuild and re-create buyer processes and offerings. Mobile-based technology like moLotus forms the core of transformation strategy. The high penetration of mobile devices and transformation tools have transformed the landscape of many industries.
Let’s take a look at how digital transformation is driving customer experience :
1. Customer Data Management and Deriving insights
Most businesses are having massive customer data but the real benefit lies in the optimization and analysis, enhancing customer experience. Digital transformation is changing the way businesses improve customer experience by translating raw customer data into insights. Disruptive mobile technologies like moLotus are helping brands in data management. Brands are availing advanced data curating and analytics features of moLotus, making data management, and analysis comparatively easier for them. It compiles the campaign data into crisp and comprehensive reports, enabling quick decision-making and strategizing.
2. Customer Support & Feedback
Studies show that convenience and speed are at the top of consumer agenda. Digitization of support systems is imperative for the engagement of convenience and speed-driven consumers. Businesses are putting efforts for more live chat that supports customers during the buying and post-buying support. They have been using web-based Live chat platforms like ZenDesk Chat, LiveChat, and acquire.io. However, these are being replaced by mobile transformation platforms like moLotus. moLotus has transformed the way brands serve their customers. The platform has pioneered real-time customer ratings and feedback via mobile for different service-related issues enabling them to analyze and improve upon.
3. Customer Onboarding
Customer onboarding has traditionally been a highly unstructured and cumbersome process for customers as well as brands. Good news is that mobile customer onboarding has now replaced traditional onboarding. With the increase in smartphone penetration breakthrough technology like moLotus is the key driver of mobile onboarding. SaaS companies have been instrumental in developing mobile apps for mobile onboarding with negligible success. Brands have hailed moLotus as the best tool for automated, flexible, cost-effective, and scalable onboarding. It is steadily enhancing buyer engagement with a smooth end-to-end Customer experience
4. Digitalize Renewals — Policies and Contracts
The manual contract/policy renewal management processes are labor-intensive and tedious for businesses. Digital transformation of these processes allows for automation, making it simple and fast for customers resulting in enhanced customer experience. All parties involved can easily track a contract’s renewal further adding to the richness of the experience. Businesses now can emphasize the reporting and fulfillment of contractual obligations by placing automated contract renewal at the forefront of transformation strategy. Businesses using platforms like moLotus have made the contract renewal processes mobile automated making the process customer friendly at the same time-saving time & costs.
5. Digitalizing Filing and Document Submission
The insurance and banking industry has been suffering from a slow pace of customer conversion. Due to the manual filling & document submission processes, the conversion rates for them have been as low as 30% or below. These processes are extremely painful for consumers, resulting in a poor customer experience. It is well known that buyer experience is the key differentiator for service businesses like insurance and banking.
With the advent of moLotus digital transformation, document filing and submission processes are becoming more digital. The platform is making the processes hassle-free, leading to higher conversion at reduced cost & time. Top banking and insurance brands have embraced moLotus ensuring superior customer experience with low costs, high revenues, and high ARPU.
6. Replacing Plastic Loyalty Cards
Customers have been experiencing the menace of bulging wallets due to bulky plastic loyalty cards. Implementing digital transformation in the loyalty card space has made it convenient for the customer to own and use loyalty cards. No bulging wallets anymore! Mobile-led digital transformation is fast reshaping loyalty cards space. Over a period of time businesses have been using mobile apps for the purpose. However, loyalty card apps did not solve the challenge associated with plastic cards. Mobile Loyalty Cards powered by moLotus have transformed the loyalty cards space, completely replacing the plastic cards. They are convenient to customers, save cost, and increase usage with high margin revenue for businesses. It has proved to be a better alternative to mobile apps.
7. Eliminating Outbound Call-based Processes
When smartphones were in their infancy, most people contacted customer service via telephone. However, people to people contact posed serious challenges. The customers were often unhappy with the representatives. Also, customers never liked to interact with sales representatives, finding them pushy. That world is fast vanishing. Digital transformation is fast replacing voice-based contact by non-voice automated contacts like mobile messaging. These transformation initiatives lead to enhanced customer experience with lower operational costs and greater efficiency for businesses.
The best example of a mobile messaging-based platform is moLotus which is used by brands to interact directly with a large customer base without spamming. moLotus technology provides multiple customer response options like Callback, SMS, Click URL, and more are enabling customers to easily interact with Brands. It quickly delivers automated messages to a huge customer database directly into their inbox on all mobile handsets, irrespective of phone type or model, i-phones, and feature phones without requiring app download or data connection. Brands are thus capable of building better connections with customers; getting better buyer responses finally resulting in a higher conversion rates at low costs.
8. Recurring Services and Product Cycles
Traditionally, sending reminders for recurring services & product cycles has been a challenge for brands. While addressing the service reminders to the customers, representatives often confronted or sounded harsh to customers resulting in poor customer experience. Digitally transforming the processes via mobile has come as the best and only solution to the challenge. The recurring services and product cycles like coffee vending, car servicing, air-conditioning, etc. have been completely automated and transformed by moLotus. Businesses are fast embracing this mobile-driven transformation resulting in increased revenues with enhanced customer experience.
Conclusion
In today’s fast-moving, always connected, new world it is imperative for businesses to seriously consider implementing a digital transformation strategy if they have not already. They are getting a ‘never-before opportunity to engage modern customers, and deliver seamless customer experience via breakthrough transformation tools like moLotus. To ensure that transformation is on track, a business should define the relevant customer journeys, select the key ones, forecast the probable outcomes, and digitize them with appropriate transformation tools.