Tag: customer loyalty

Today, most companies know that a great customer experience (CX) is their best hope of standing out from their competitors. Many are also aware of the fact that communication is key to building those experiences. After all, so much of CX is about building relationships and, as any therapist will tell you, communication is vital to a healthy relationship.

Storing data securely and using it appropriately should not be merely a compliance-driven practice; it should be a cornerstone of any business. Not only does appropriate data protection and use protect your business from risk, but it is also key to building customer trust, without which, no business can survive for any reasonable length of time.

For decades the rainbow flag has united the Lesbian, Gay, Bisexual, Transgender, and Queer+ (LGBTQ+) community and serves as a symbol of diversity and solidarity. Pride Month, as well as being a time to celebrate, has also been an opportunity to commemorate and recognise the impact that members of the LGBTQ+ community have had on history at a global, national, and local level.

While COVID-19 is certainly not a thing of the past, as a society we appear to be starting to find ways of living with the virus and, for most people at least, taking the necessary precautions to protect ourselves from being infected by it. The same can be said for many businesses.

When South Africa entered into a hard and extended national lockdown on 27 March 2020, banks responded rapidly and empathetically to their account holders' financial crisis. According to the Banking Association of South Africa (BASA), as at 24 October 2020, banks had provided over R50 billion in financial relief – R33,61 billion in payment breaks on credit agreements and R16,71 billion under the loan guarantee scheme – to South African businesses and individuals.

All of us have witnessed immeasurable changes in 2020, with disruptions to the way we live our lives and do business. Customer communication is no exception. While business was already embracing digital, COVID-19 only accelerated this transformation. 

We have released the latest 2019 South African Customer Satisfaction Index for Short-Term Insurance. There is a fallacy across many businesses that digital transformation and customer experience and satisfaction are interchangeable. They are not. 

The relentless drive towards digital banking is making banks ‘invisible’, leaving customers looking for more value, human engagement and diversity of transactional channels according to the South African Customer Satisfaction Index (SA-csi) for banking.

The future is bright for those who respond the fastest to shifting consumer expectations. We hosted the third annual RCS Retail Summit that took place in Cape Town and Johannesburg towards the end of 2019.

With economic growth considered the main driver of corporate travel, emerging economies such as South Africa are increasingly adding to the international pool of business travellers. Predicting positive growth in 2020, analysts say there is good news for South African SMEs, whose bargaining power they see rising with the market’s size and spend.