Tag: customer retention

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.

While the African banking market has seen withdrawal of global banks over the last 5 years, the opportunity for localised banking has seen the opposite, driven by the expansion of African banking groups into the continent, led mostly by South African, West African, and Northern African banks.

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.

South Africans are navigating a protracted period of high interest rates, food and fuel prices, and low economic growth, which is expected to continue into the foreseeable future. The economic environment makes attracting new customers more difficult, forcing businesses to focus on customer retention and growing wallet share.

The evolution of consumer expectations in the insurance industry is reshaping the traditional insurer-customer dynamic. Customers are no longer satisfied with a one-size-fits-all approach; they are looking for a more personalised, meaningful, and continuous engagement with their insurance providers.

In today’s fast-evolving world of technology, the role of the tech sales professional is critical in bridging the gap between companies looking to move with the times and effect a digital transformation of operations, and those with the expertise to assist them.

In this digital age, big data is no longer just a trendy term. Businesses of all sizes are pouring resources into big data projects to make smarter decisions, deliver personalised customer experiences, and accelerate innovation.

The integration of finance and technology, known as fintech, has revolutionised traditional banking and payment systems, transforming how we live, work and travel. Similarly, travel technology, or traveltech, has empowered travellers with convenient booking platforms and personalised experiences.

In today's ever-evolving marketing landscape, where digital strategies often dominate the conversation, one element continues to stand the test of time - that of branded merchandise. International research shows that this steadfast pillar of modern marketing, commonly known as promotional products, has remained a powerhouse in successful campaigns for decades.

It’s time for Small and Medium Enterprises (SMEs) to recognise that using data and analytics is not as scary or expensive as they may think - and that the benefits can be significant.