The rise of the millennial generation (those born between the 1980s and 2000) is being felt around the world. As the spending power of millennials (also known as Generation Y) grows, companies are having to evolve in order to meet their particular needs. This is particularly true in Asia Pacific – by 2020 the region will be home to 60% of the world’s millennial population...
When customer service first rose to prominence within organisations it was straightforward to define. It was a physical department, normally including a call centre, that dealt with all incoming customer communications (mainly via telephone and letter), and provided help and support. As the number of channels used by customers began to expand, the web, email...
Across the globe, companies are under increasing pressure to deliver a superior customer experience if they want to win and retain consumer loyalty. This is especially true in Asia-Pacific, with customers demanding better and faster service, across more and more channels, than ever before. Customer experience links directly to sales – according to Frost & Sullivan, over 6 in 10 consumers...
Over the last ten years, customers have become increasingly more demanding in terms of the service that they expect from companies. At the same time, and as part of the same trend, governments have acted to make it easier and more straightforward to complain, particularly in industries such as telecoms, utilities and finance. They have set up new regulators and ombudsmen...
In a fast-moving and ultra-competitive market such as retail, companies are continually looking to differentiate themselves from rivals. To achieve this they are increasingly embarking on digital transformation programs, moving to a multichannel approach that is more efficient and flexible, while delivering a better customer experience...
Recent Forrester research pointed out the importance of understanding customer emotion and creating empathy with consumers if brands are going to deliver a successful customer experience. This was backed up by Eptica’s study ‘The Power of Linguistics: Consumers vs. Agents: Can the Gap be closed?’, which found that nearly a third (31%) of consumers...
Twenty years ago, the majority of banking was carried out face-to-face through an extensive branch network and most consumers remained with the same bank for much of their lives.Three factors have dramatically changed this. Firstly, new channels such as the internet have transformed how consumers interact with their banks, while increasing the range of services that they can carry out themsel...
Many studies show that people are much more emotional and less rational than we like to think. Research by Nobel prize-winning psychologist Daniel Kahneman, indicates that we have an intuitive, emotional side and a rational side when we are making decisions – and the rational side is less influential. Similarly, Steve Peters, a high profile sports psychiatrist and author...
Between different countries and demographic groups there is an enormous variation in which channels consumers prefer to use to contact organizations, particularly for customer service. In this multichannel world, companies need to offer all relevant channels, but also have to understand which best fits their requirements of their key demographic groups, so they ensure they deliver superior service...
Health insurance is a rapidly growing market across Asia Pacific. The rise of a more affluent middle class and gaps in public healthcare mean that more and more people are now looking to private health insurers to provide for their needs.How consumers research and buy insurance policies, and then interact with insurers, is also changing fast, moving to a digital and multichannel world. Today, ...