The way we organise our lives – especially our spending habits – has been revolutionized since the advent of the internet and smartphones. Today we expect to manage nearly every aspect of our lives online.
As consumers, this makes a lot of what we do much easier. As a business it creates the imperative to ensure our customers’ experience is convenient at every point of their journey. In a very real sense, customer convenience is king.
Meeting the modern customer means more than having a website
The days when having a website was enough to ‘be digital’ are long gone. Of course, websites remain fundamental to an online presence. However, much now depends on sophisticated apps which deliver complex services in a convenient and seamless way.
The travel industry is a good lens through which to consider the needs and challenges of the customer. Holiday travel is a discretionary spend, so consumers are generally very sensitive to quality of service. Business travellers may be even more demanding. The need for quality and convenience applies to every element of the trip, from initial booking and travel money, to the last airport transfer.
This has been skilfully explored in a recent article by James Bayhack, director for sub-Saharan Africa at CM.com.
The thrust of what he says is clear. Without effectively prioritising digital investment, and without ensuring digital services deliver reliability and customer convenience, the outlook for a modern business is bleak.
Keep digital simple: know what you’re buying, and don’t over-spend
One of our key businesses is travel money and foreign exchange. Historically it’s a sector which has suffered from systems that have not always favored the customer. Now, digitization helps make the experience simpler and easier for all parties. Customer-friendly digital services are essential – and easier to access than many assume.
Importantly, tech upgrades need not be costly in order to be good. Choosing the right product is key. Avoid over-complication – often it is better to opt for a service which is compatible with your existing systems, rather than having to change everything.
Above all, remember it is the customers, and their repeat business, who will drive your continued success. Keeping it convenient for the customer, therefore, really is the simplest option. To discover how your organisation can access this kind of advantage via Essiell’s Money 4 Travel, watch this video.
The article by James Bayhack mentioned above can be found in the January 2023 edition of IT-Online.