Tag: customer loyalty

Empathy is a key differentiator in creating exceptional customer experiences. In an increasingly tech-driven business world, it stands out. Labelled a ‘soft skill,’ it is a complex trait to develop. This development requires self-awareness, emotional intelligence, and ongoing effort.

BBanking goes far deeper than managing financial transactions. Organisational, compliance and governance layers are demanding and complex. From merchants to customer onboarding, relationship banking and internal agreements, these layers require effective management. Workflow management must also be handled securely and with certainty. This ensures both the bank and its customers are protected.

In times past, if a product or service worked, you’d pat yourself on the back and move onto the next project. But this simply doesn’t work in the digital age. Today, users want an experience. Gone are the days when creating something clever and functional could pass, if your user experience (UX) isn’t up to scratch, you can expect your product to not only become a white elephant but to receive stinging reviews too.

Digital advertising in South Africa is on the rise, driven by business-oriented trends. The annual report, conducted in partnership with PwC, seeks to accurately measure the total revenue generated by domestic online media, including mobile advertising. While we have witnessed how the digital ecosystem has become a lot more creative, driving performance and connecting with audiences to build trust, the power of generative artificial intelligence (AI), retail media and social communities continue to provide opportunities for marketers and business growth alike.

For any business involved in local or global trade, a robust supply chain is key to sustainable success. The simple reality is that trade disruptions come in many forms, from natural disasters and geopolitical crises, to trade conflicts and even pandemics; and in all these scenarios, a strong supply chain is required to keep a business running, avoid losses, and retain its edge over the competition.

South African banks have weathered rough seas during the past year, with many of their customers coming under severe pressure from a stagnant economy, rising cost of living and high interest rates. Despite these storms, the financial services industry is still delivering good profits and growth, but there is constant pressure to maintain these results amid the adverse market trends and pressures that are currently shaping the landscape.

World Innovation and Creativity Day fell on the 21st of April, reminding us of the boundless potential inherent in human ingenuity and technological advancement. Artificial Intelligence (AI) stands at the forefront of this celebration, reshaping the landscape of business operations and customer engagement. The combination of advanced data analytics with cloud computing has propelled AI into the spotlight, making its integration more accessible across industries.

In today’s rapidly evolving market, customer experience (CX) is a battleground for companies vying to secure a competitive edge. Globally, evidence of the unequivocal correlation between CX and a company’s financial performance is widely understood.

For many business leaders, the heat is on. They face inflation, supply chain disruption, labour shortages, and pricing pressures. Protecting margins while meeting customer needs and navigating economic uncertainty is crucial. However, many lack transparency and granularity in actual cost structures.

Auto insurance is leading the charge with the adoption of dynamic pricing, which entails developing policies that are more cost-effective for low-risk customers and using a different premium model for high-risk policyholders. There is significant potential for life and health insurers to capitalise on this momentum and embrace this model within subsets of their product offerings.