OCC Blogs

  C ustomer experience is key across every industry. If there’s a single industry where customer experience matters the most, it would no doubt be the retail and ecommerce sector. According to  Statista , global retail sales in 2019 stood at $24.78 trillion. In the US, this industry is the largest private employer with about 29 million people directly or indirectly. Graph showing retail sales since 2018 (Image Credit: Statista, 2020) The ecommerce aspect of retail is also a key aspect for retailers to consider. That sector, according to Oberlo, raked in $3.5 trillion in sales in 2019. While this represents a little over 14% of total retail sales, growth in this sector has been steady over time. Analysts expect this to rise to about 22% by 2023. Graph showing ecommerce sales since 2017  (Image Credit: Oberlo) Re-Commerce, Customer Experience & the Coronavirus The world of retail and ecommerce has always been very competitive and challenging, even before the coronavirus...

  B usinesses across different sectors have been hit by the coronavirus in one way or the other While industries like traditional retail, manufacturing, travel and hospitality may feel like they are tail spinning into chaos, other sectors such as health, ecommerce, and online gaming, among others may feel like new doors are being opened for them. But we can all agree that  businesses across the board are dealing with one or more challenges  that may significantly impact their customer confidence, loyalty, engagement, and entire customer experience. How Did Customer Experience Change During this Pandemic? Global lockdowns, social distancing, remote working, and a few other policies and measures have been taken in the wake of the coronavirus. For industries in different sectors, this has put significant  pressure and disruption on the global supply chain , causing product shortages, among other things. While companies are thrown into chaos and actively looking to innov...

  C ustomer service has always been a key to success in the banking industry. This has always been the case, even before the COVID-19 pandemic caused the greatest economic disruption that most of us have yet to witness throughout our whole lives. Clients in the financial services sector want personalized services and an exceptional experience. While businesses may think it isn’t fair comparing their service quality to other businesses outside the financial sector, say like Amazon, the modern standard for customer service; as much as  41% of clients may switch banks due to a poor experience. That is enough to get anyone or a serious business to rethink their strategies. So, even if you have a good customer service strategy and reputation already, there’s almost always ample room for improvement. This guide will help banks and other players in the financial industry to get a better glimpse of how they can improve customer service, in these most challenging times. But before then...

  Y our customers are the lifeblood of your business. Indeed, if you create an army of loyal customers and keep them happy, your business will thrive. What is customer loyalty and why should you care about it? Customer loyalty is a strategic practice for businesses to attract and retain clients through great customer service and marketing tactics. It describes the extent to which a particular customer is devoted to the products and services of a particular company. This is dependent on a consistently positive customer experience as well. According to the White House Office of Consumer Affairs, a loyal customer can be worth ten times more than their first purchase for any company. See why you shouldn’t ignore this? What’s there to gain? The thing is there are rewards and results for whatever experience you provide to your clients. Research has shown that more than 60% of consumers can switch sides from a favorite brand to a new one for a better service experience. For your small bus...