As digital transformation has skyrocketed over the last few years, across industries including retail and banking, customers are now expecting seamless experiences with exceptional customer service. Traditionally, customers considered product, price, place, and promotion when buying a product, but now experience is also a major consideration.
Most people now expect online shopping to be as easy as using their favourite apps. All touchpoints must therefore be seamless, from browsing to payments, to ensure customer satisfaction and loyalty.
Brands that fail to meet these requirements will see a drop in sales and retention as customers unconsciously pivot to brands that are easier to navigate.
Why are customers expecting a new level of digital experiences?
People were handed a digital superpower during the pandemic which has impacted how they shop. Over the last year, 89% of UK residents preferred to shop online, especially young adults with a staggering 91% of people aged 25 to 34 shop online.
Retailers have responded to this with many closing or reducing physical stores. In fact, most recently many kept shops shut or operated on reduced trading hours than they have in previous years for Boxing Day sales. This highlights that fewer people are keen to wake up at the crack of dawn and head to the high street to get deals and bargains, when they can do this from the comfort of their homes.
Similarly, when it comes to banking, gone are the days of heading to your local branch during your lunch break to transfer funds, cash a cheque or even to open a new account. Customers now expect to do this within a matter of seconds, from the convenience of their phones within an app.
With this, the competition among online stores and banks has intensified. Users now demand seamless experiences, with every touchpoint personalized to their unique needs. Any inconvenience can frustrate users, leading them to abandon their carts or consider switching banks. To retain customers and foster loyalty, brands must prioritise optimising these experiences.
Delivering Seamless and Personalised Experiences
So how can brands meet customer expectations, when it comes to seamless digital experiences?
Artificial Intelligence (AI) and data analytics are critical enablers of this shift. Generative AI tools, such as chatbots, personalised content creation, and 24/7 virtual assistance, enable brands to provide consistent and responsive support across all touchpoints. By leveraging these technologies, brands can offer predictive and personalised services tailored to customers’ needs. For example, Zopa, an online bank, has used AI tools to personalise savings accounts and predictive financial tools, creating a smoother, more tailored user experience. Additionally, omnichannel platforms and intuitive digital navigation enhance accessibility which fosters stronger engagement and trust.
By embedding cohesive digital solutions into customers’ everyday lives, brands can transform simple functions and tasks into meaningful relationships that enhance loyalty and satisfaction.
Convenient but Secure
With digital growth comes cyber risk. Consumers expect simple and convenient customer experiences that don’t compromise their security.
Innovative technologies are the solution to providing both ease and security simultaneously. Technologies including, multi-factor security systems and biometric authentication, offer robust protection with minimal disruption to the user experience. Citigroup, uses AI-powered threat detection tools to identify and mitigate risks in real time, enhancing both security and customer confidence.
Furthermore, secure cloud infrastructures are fundamental to safeguarding sensitive customer data while enabling scalability and operational efficiency. By integrating advanced security measures into their systems, online stores and banks can ensure they meet customer expectations around security.
What’s holding excellent digital experiences back?
While digital transformation has grown significantly, there are barriers that are holding this back. Legacy systems can hinder agility, compliance with evolving regulations adds complexity, and cultural resistance within organisations can slow progress.
Prioritising modernisation and insight-driven strategies is key to overcoming these hurdles and thus ensuring excellent experience. Upgrading core systems enables scalability and adaptability, while advanced analytics provide actionable insights into customer behaviours, allowing brands to refine their services with precision.
Why digital experience matters now more than ever!
Overall, as competition among brands heightens with the cost-of-living crisis having hit the pockets of UK consumers, getting experience right has never been more important. Brands that get this right will see increased customer satisfaction and loyalty. For many this will be the difference that ensures survival and if done correctly growth.
- Digital Strategy
- People & Culture
