How To Overcome Customer Attrition? From NPS scores to customer account depth and new customer acquisition, financial institutions track a plethora of metrics to gauge the health of their business. But what if these metrics are lagging predictors of future success, and financial institutions need to focus on what is truly important? With a significant shift in customer banking behavior and a growing concern about their financial security as a result of rising interest rates and never-ending inflation, are there any other metrics banks should add or prioritize? We asked this question as part o ..read more

Successful brands understand their true value is not a product or service, but the consistent delivery of an idea that resonates with their consumer. Nike sells empowerment, not shoes. Apple sells innovation, not computers. Sephora sells self-expression, not cosmetics, and so on. But simply identifying a powerful position is not enough. How consistently and authentically your brand lives this promise is what separates the best from the rest. This is called brand implementation. Defining Brand Implementation Brand Implementation refers to how you bring your brand to the consumer across all t ..read more

Digital banking has become a priority for many central banks during the pandemic. As a result, many financial institutions have taken advantage of the opportunity to reduce their branch network. According to research, 2021 had one of the highest rates of bank closures, up 38% from the previous year. With banks making decisions to close branches, many of these closures have an impact on customers in ways that many are unaware of. This blog will look at the mistakes banks make when closing branches and how to avoid them in order to improve customer experience, customer attrition, and overall b ..read more

The integration of robotics and AI is one of the most exciting advancements in the healthcare industry in recent years. From pharmacies to medical spas, healthcare experiences are increasingly incorporating robotics technology to improve patient care and efficiency. In this blog post, we’ll look at the future of robotics in healthcare through the lens of health-focused retail experiences. Increased Convenience in Pharmacies The pressure of convenience that robotics technology places on traditional pharmacies are clear. For example, PillPack by Amazon has implemented robotic systems to s ..read more

The pandemic deprived many of engaging in physical experiences for too long, driving a heightened need for customers to connect with live people and physical experiences. However, this hunger highlighted the importance of brands in delivering a high level of service and overall positive customer expectations. A key challenge in meeting these needs is the growing labor shortage and the recent disruption in the supply chain, forcing brands to rethink their brand experiences. However, with such a significant impact on a brand’s performance, it’s surprising that most organizations do not have a ..read more

Digital banking has become a priority for many central banks during the pandemic. As a result, many financial institutions have taken advantage of the opportunity to reduce their branch network. According to research, 2021 had one of the highest rates of bank closures, up 38% from the previous year. With banks making decisions to close branches, many of these closures have an impact on customers in ways that many are unaware of. This blog will look at the mistakes banks make when closing branches and how to avoid them in order to improve customer experience, customer attrition, and overall b ..read more

According to our recent research on the circular economy, one of the biggest barriers to adopting more sustainable products and services is an inconvenience. This shouldn’t come as a shock: making things easy for consumers is one of the pillars of good service. In a world where we can have almost anything delivered to our doorstep within 48 hours, consumers simply expect brands to make things easy. Sustainable choices are no different. In fact, our study demonstrated that not having access to a convenient location in their area was the biggest barrier to adopting circular product and service ..read more

How do you meet the needs and aspirations of your customers? How do you differentiate your brand to start successfully selling products and services? It’s best to start by determining your company’s needs and priorities. Many brands fail to define their value proposition, even though it may appear obvious to some. A positioning process can help a company focus by refining the brand into a short essence that can be delivered consistently to propel the brand’s worth over time, creating a competitive advantage. The Value Of Clarity And Focus The costs of launching a new product or revitalizing ..read more

Choosing the right influencer to work with your brand can be challenging for any marketer. With more creators than ever at their disposal, creating the right fit with your brand can be a disaster if chosen poorly but provide a huge ROI if done correctly. With the surge of social media platforms like the short video app TikTok, social networks have made it easier than ever to get your product in front of younger demographics. Gen Z has purchasing power, with 60% having access to a savings account and 33% having access to a credit card. According to research, Gen Z has also become the most lik ..read more

In 2022, in spite of inflation and the threat of a recession, consumers flocked to stores, restaurants, and other in-person experiences after several years of COVID-related barriers. Concerts were sold out, restaurants were booked weeks in advance, and wedding season was outright crazy – all while venues, stores, and kitchens were understaffed. Although consumers may have awareness of staffing shortages, this hasn’t dampened their expectations, creating tension that is likely to continue. As consumers tighten budgets, the value perception of an experience will come under even greater pressur ..read more