How Technology Is Transforming Customer Experience

In today’s time when there is a lot of competition in the market, one has to deliver the best customer experience and secure their place in the field, differentiation has become crucial. Brands today, are offering an exceptional service to the consumers whether it is limited to switching bank accounts or providing network services. For any brand that needs to win the hearts of its consumers as well as the market, it has to be highly personalized, trustworthy & safe, easy & convenient and engaging from the beginning to the end.

Most of the companies are not able to differentiate between customer experience and customer service, while it is there in the theory to deliver good customer service. To be proactive in delivering the best to the consumer, a brand has to make use of good technology.

Lets us see, how technology is of use in transforming customer experience:

Personalization

As there is an advancement in technology, a company is able to fetch more data, process it and learn more about the customers’ experience. These days, AI and Machine Learning are on a boom in order to deliver the most personalized user experience. Thus, to make use of such technology, companies need to capture consumer data so as to give such a personalized experience. A program named “Second Look” was launched that offers a service to monitor customers’ sending pattern. It notifies the customer about their spending habits through push notifications on their phone. This way if anything unusual happens to a customer’s’ account, they are immediately notified of it through their app. Such a service creates a level of personalization for the customer and also gains the trust of their customers.

Securing users’ data

If your customers trust your service, they are likely to provide your brand with a lifetime membership. In order to gain that customer loyalty, brands need to build their apps with the latest security and authentication technology across all the platforms. In this league, 2-step verification logins are very effective for the consumers’ security. According to a survey, 86% of the consumers find it easier and secure to log in to their device through biometrics as compared to entering a password.

Convenience

From managing the payments to return any item that you didn’t like, technology has transformed a lot of things for the consumers today. Mobile technology has shown many advancements through which one can operate accounts, order things at the doorstep, etc. with just one click.

User Engagement

UX plays a very important role in generating consumer engagement. For example, Monzo is a company that uses technology to deliver fantastic user experience and even outperforms other companies in the digital banking sector. They have created a product that consumers need and want in the market in today’s time.

Conclusion

Consumers are fickle minded creatures and winning their loyalty can be difficult at times. You can only differentiate your brand by delivering the best consumer experience. Through technology, a company is capable of innovating and transforming the consumer experience. Through seamless digital journeys, the market is looking for convenience in every sector. This may enable the brands to not only gain customers but also their trust.