Most modern enterprises would agree that a cutting-edge, highly sophisticated omni-channel customer experience is the competitive differentiator for which they should strive. But strip away all the trendy terms, and they’re looking at the foundation of it all – customer interaction. And the quality of that interaction affects their bottom line.
Banks, insurance companies and other financial service providers are committing to omni-channel marketing and service delivery in a big way. But the truly revolutionary elements of omni-channel marketing for banks are likely to be on the mobile platform. This particular revolution may be different from other consumer-focused technological innovations – there is evidence that mobile banking is not just another fad.
The proportion of mobile phone users in the US who use mobile banking services increased by 18% in 2014, according to the Federal Reserve’s 2015 Consumers and Mobile Financial Services Report. Why are Americans jumping on the mobile banking bandwagon at such a robust rate? The short answer may be: Because they can.
What are the reasons for losing the race for an exceptional customer experience? There are various obstacles on the omni-channel race track, depending on the business. Let's look at three of them.
To enterprises whose priority is to find the best way to reach their customers, mobile engagement is no secret. After all, that's where they'll find most of their customers - browsing on their smartphones, buying on their tablet. However, often tablet engagement gets overlooked since 80% of Americans now own a smartphone. (GlobalWebIndex) Yet, tablet owners should not be ignored.
You may have heard this story back in July 2014: a New York City restaurant discovered that smartphones were the reason for their slowdown in service over the last ten years. If you don’t know the story, here’s the gist of it from DineAbility.com, retelling the original post from Craigslist.
All across retail industry news, there are conflicting reports of which is the better performing shopping channel – online or in-store? Some sources say brick-and-mortar is still strong; others say ecommerce is overtaking traditional shopping. We took a look at these differing perspectives, and regardless of the opinion, we found two common thoughts: integration of online retail with in-store is imperative, and the mobile channel is at the top of the conversion funnel.