Every business is founded to solve a customer problem, and the vast majority of products and services are designed to alleviate a specific customer pain point. But it is still important to let each customer know how their specific problems are being solved.
One of the best ways to build brand credibility is to understand a customer’s journey and build long-term relationships with them. In this article, we ask industry professionals how they meet the needs of their customers.
Build engagement with customers
It’s no secret that we live in a time of unprecedented technological acceleration. Nowhere is that more true than in the customer experience space. Things that ten years ago seemed completely impossible are now commonplace and almost expected.
“Many organisations want to make changes in line with accelerations in technology and customer experiences, but the range of options available out there stops them from even starting, or worse, they settle for an option that they deem to be “good enough,” comments Brent Haumann, Managing Director at digital communications firm, Tilte.
Importantly, however, is that as technology accelerates, so do customer expectations, and what was considered good enough yesterday is not good enough for tomorrow. It is critical that organisations aim to meet and even exceed these expectations, because if they don’t, their competitors will happily oblige. “The problem is that engaging customers is not about sending an email or introducing a chatbot.” Anyone can do that. It’s about how to get your customers to actually engage with your brand and build a loyal relationship that will see their customer lifetime value grow. This is a lot more difficult and requires expertise in these spaces.” concludes Haumann
Enhance the user experience
While the use of technology to streamline customer-facing processes is an integral part of SME growth, the user experience of such technology can often become a pain point for the business if the right tool is not chosen. “While SMEs need technology to reduce manual tasks and automate repetitive processes, complicated software packages and platforms can be more of a hindrance than a help. “In fact, as many as 70% of startups fail within the first five years, according to research from the University of the Western Cape, because they don’t have the technical support they need to get the basics done,” says Andrew Bourne, Regional Manager, Africa – Zoho Corporation.
Integrated, seamless solutions need to meet the needs of the user, regardless of the scale of the business. This means having a full-featured Customer Relationship Management (CRM) system that will improve the user experience and enhance customer service.
Provide access across borders
It’s no secret that mobile money has revolutionised the financial services industry, allowing individuals to transact within and across borders – opening up a world of possibility for small business owners on the continent. However, consumer pain points such as a lack of access to financial services, high transaction costs, and regulatory requirements still hurt interoperability and the cross-border payments innovations that are key for scaling access across Africa.
Remittances, as an example, are important to African countries, but the cost of intra-African money transfers still remains high. In South Africa, the average cost of sending remittances was 8.14% in 2020 as against the global average remittance fee of 6.01%. Not only are billions lost to high transaction costs, but they also limit financial inclusion and aid to the vulnerable.
MFS Africa has been driving the next step in this revolution, addressing this pain point by bringing more possibilities, more connections and more interoperability to the mobile money user. The organisation’s full-service digital payments network now connects over 400 million mobile money wallets, over 200 million bank accounts and over 150,000 agents in Nigeria.
Harness technology to enhance the experience
“Solving the customer’s pain point is the foundation of a great customer experience. And experience is everything. We know that more consumers and business buyers are noting that the experience companies offer matters as much as their products.” says Zuko Mdwaba, Area Vice President Salesforce South Africa
This is all about meeting the customer where they are. Today, customers’ use of social media, knowledge bases, and live chat is near parity with phone and email. With the decline of in-person service since 2020 showing little sign of recovery, the use of mobile apps, online communities, and video support have seen massive expansion over the past two years.
Mdwaba continues that “Given the rising importance of digital channels, strengthening partnerships between service and IT departments is often key to breaking down data silos, saving on software cost, agent empowerment and resulting in faster time-to-market for new technology solutions.”
By investing in advanced technology, organisations can address customer pain points effectively to achieve greater customer satisfaction, which ultimately boosts engagement and revenue.