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Digital Transformation in Retail Banks: Potential Impact on Brand Equity, Customers, and Employees

Beyond Philosophy

It is having most impact, and will likely continue to do so, in traditional industries such as retail banking. Digital innovation in banking can be seen in the transformative way people transact and organize their finances. Can act in real time, responding to advertising or incentives. Let’s begin there. Brand Equity.

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Utilizing Customer Journey Mapping to Enhance Service

Global Response

You can also use AI-driven tools to analyze unstructured data (like social media posts or customer support chat logs) for sentiment analysis and trend spotting. Use personalization engines that use customer data to predict and deliver personalized recommendations, content, and promotions in real time.

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How to identify and reduce customer friction points

ChurnZero

Customer friction points are any obstacles that stand between the customer and what they want — think clunky checkout processes, complicated phone menus, or any steps that feel extra and unnecessary. Reducing customer friction points means minimizing effort for your customers and, in the long run, maximizing revenue for you.

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E-commerce Statistics You Should Know in 2021

JivoChat

Expect this sector to become increasingly competitive, with brands attempting to find new long-term customers through promotional offers, free shipping, and targeted advertising. Digital banking. The global online banking market size is predicted to reach $20.5 with sales of over $5 billion in 2020. E-learning growth.

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Everything To Know About Customer Lifecycle Management

OctopusTech

In this stage of customer lifecycle management , customers compare products across different competing brands, carry out research such as size, price, features, etc. and read reviews of other customers. An outbound method such as advertising on TV, in newspapers, etc., Give them a personalized customer experience.

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M-Commerce: What it is and How to Succeed in 2021

JivoChat

Other m-commerce examples include purchases made in proprietary apps, like Amazon’s mobile app, as well as online banking. Mobile shopping can also be accessed through social media — all a vendor has to do is add their website link to social media pages or advertisements and drive potential customers straight to their store.

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How Service Still Beats Price In Certain Industries

CSM Magazine

In addition to taking into account the margins that will bring you a profit, you consider which prices will attract people and which will drive them away. Sometimes, discounts will put customers off a product which is supposed to be premium quality. For example, some high-end grocery stores advertise certain deals as “Buy 3, Save 33%.”