Digitalisation has had a profound impact on businesses over the years with the Covid-19 pandemic further accentuating it. A survey conducted by EY and Imperial College London’s Institute for Global Health Innovation found India among the highest adopters of digital tech during the pandemic.
Improved customer experience is perhaps one of the biggest advantages of digital tech in the modern era. This article will help you understand how you can leverage the power of digital technologies in your business to manage clients better, augment experience, and drive revenues.
Before delving deep, let’s understand what is digital transformation? Digital transformation refers to the process of using digital tech to either modify existing or create new business processes to meet the changing market requirements.
To put it otherwise, it’s all about becoming a digital enterprise and entails IT modernisation, digital optimisation, and invention of digital business models. Through digital transformation, enterprises leverage technology to enhance end-user experience.
With so many options available at their disposal, customers look forward to a unique experience tailored for their needs. They prefer enterprises that understand their needs and provide them recommendations based on them. Customers are more likely to choose companies that know their taste and preferences and provide solutions accordingly.
Through digital technology, enterprises can gain real-time and essential customer-related data to understand their choices better. They can tap into past requests, see the queries they have made, and find out the products they have invested in. With this information, enterprises can develop targeted messages tailored as per the needs of individual customers.
Through predictive analytics, enterprises can determine future customer behaviour and shape their offerings accordingly. For instance, if data shows that someone invests a lump sum in mutual funds during a particular time of the year, businesses can start messaging the investor regarding the investment when the time arrives.
This is a giant leap whereby enterprises can gauge what will happen next and when it will happen. It can help tailor customer experience in real-time and shape their strategies accordingly. To simply put, a shift in digital technology fosters a close relationship and helps build trust and loyalty in the long run.
Now as you have an idea as to what does digital transformation means, let’s see five prudent ways through online client management becomes a breezy affair.
The website serves as a gateway to your business, and in the digital age, it’s imperative to develop an intuitive and highly optimised website to reach potential clients. The website is an essential cog in the wheel of the brand-building process and helps enterprises better highlight the USP of their products and services.
It also helps generate potential leads and bring new clients on board. In a nutshell, a well-built website serves as single-point access to all information that your customers want.
A customer portal connects the self-service functions of your business in a single personalised place. It serves as a dedicated hub whereby they manage their relationships with your company, such as checking the status of their investments, support requests, following relevant articles, etc.
Through a customer portal, clients discover their relationships with businesses without having to ask for it. When done right, a customer portal enhances client satisfaction and better engage customers.
Mobile applications are another potent tool in your arsenal to reach out to new clients and manage existing ones better. For instance, many stock apps available help investors to research, invest, and track performance of different stocks at their fingertips. These apps also provide information on the current market happenings based on which investors can make their stock market investment decisions.
Businesses can push notifications related to their offerings based on customers’ preferences through these apps that are easily downloadable. Enterprises can also push new features through apps and roll out updates as and when required.
Customers today want instant answers to their queries, and in a competitive business environment, it’s crucial to address their concerns on the go. Thanks to artificial intelligence and machine learning, millions of questions can be processed and answered in seconds.
Enterprises can deploy advanced chatbots that can understand clients’ queries and answer them instantly. They can also suggest products that can help customers attain their financial goals hassle-free. With chatbots and instant messaging services taking care of queries, businesses can focus on tasks that require human intervention.
There are many online forums where customers post their observations, questions, grievances, and so on. Businesses can make an account on these forums and answer these to get going. Regular interaction can help build a considerable user base and help one establish itself as a thought leader.
Online forums also have various tools such as chat and instant messaging, among others. Community members can use them to interact while you can moderate the discussion, ensuring that it’s meeting the business objectives.
Digital transformation will make further inroads in the coming days, and as businesses become more complex and competitive, success will hinge largely on the usage of digital tools in operations. Those embracing it will create a better customer experience, serving them more efficiently.
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