The future of retail is about removing barriers. At NRF 2020, retail partners demonstrated the many ways brands can blend online and offline experiences and combine different data sources to produce a fluid, personalized experience. Here are highlights from the Innovation Lab, a showcase of startups that are re-envisioning the retail journey with cutting-edge technologies.
Increasingly, customers expect personalized experiences as a standard of service. But as consumers, we all know that the quality of personalized experiences is not equal. As customer expectations rise, the margin for error is rapidly shrinking. It’s time for brands to step up their personalization strategies. Here’s what brands can do to get personalized experiences right in a rapidly shifting customer experience landscape.
One of the biggest challenges that telecom industry executives face is customer churn. While churn rates vary by country and by provider, annual churn rates for telecom companies average between 10 percent and 67 percent, according to the Database Marketing Institute. And while there are a variety of reasons that customers disconnect from wireless providers in particular - dissatisfaction with the quality of service, cost, poor customer support - the use of customer data and analytics is providing decision-makers with new ways to identify potential triggers for churn and opportunities to strengthen customer relationships.
Telecom companies must boost their investments in providing a great customer experience or risk facing declining customer loyalty in the coming years. Here are five actions they need to take now to stay competitive.