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A business is only as strong as its consumer engagement. That’s the hard truth. Even the best product or service in the market can’t make up for a high customer churn rate or low retention.
With a number of trends in play that are shaping customer engagement innovation, we explore the actions you can take to measure and increase customer engagement while setting your business up for success.
In the midst of pandemic recovery, telco consumer sentiment is generally optimistic. The Australian Government is investing in digitisation infrastructure, consistent with other global economies where digital economy growth is exceeding GDP [1].
The media industry is in a similarly optimistic consumer position, with streaming, user-generated content and other technology driving an industry evolution. Likewise in the tech sector, where communications and healthcare businesses were able to maintain high levels of performance [2] during the pandemic.
At the same time, consumer behaviour has shifted dramatically as they embrace new technology and generate data at increasingly high rates. This is all in the context of labour shortages, particularly in the technology industry.
Today’s consumer landscape is ripe with opportunity, although not without its challenges.
The face of consumer engagement is changing. As you set about understanding your customer and measuring customer engagement, you’re likely seeing these trends playing out in real time.
Here are seven of the key trends that are fast shaping the industry.
The best strategies for reducing churn rate are quite simple: it’s about understanding why customers churn and then improving your customer engagement. With a solid customer engagement and retention strategy that builds on these trends, you are a step ahead of your competition.
Pendula’s no-code platform powers two-way, personalised conversations, allowing businesses to build solid customer relationships, in real-time, on the fly.
By building automations and workflows, you can create an intuitive and seamless customer experience that can evolve with your business. The result for your business is a streamlined approach that allows you to communicate with the right customers, in the right place at the right time.
Keep your business up-to-date with the changing landscape of customer experience and engagement with Pendula. Create automated workflows and free up your people to focus on what they do best. Talk to an expert about how we can help you to transform your consumer engagement, boost customer experience and drive retention all on one platform.
References:
[1] [2] PwC. (2022). 2022 Australian Telecommunications, Media & Technology Outlook [PDF]. Retrieved from https://www.pwc.com.au/industry/telecommunications/assets/2022-australian-tmt-outlook.pdf
[3] ACMA. (2022, January 18). Communications and media in Australia: Trends and developments in telecommunications 2020–21 [Report]. Retrieved from https://www.acma.gov.au/publications/2021-12/report/communications-and-media-australia-trends-and-developments-telecommunications-2020-21
A business is only as strong as its consumer engagement. That’s the hard truth. Even the best product or service in the market can’t make up for a high customer churn rate or low retention.
With a number of trends in play that are shaping customer engagement innovation, we explore the actions you can take to measure and increase customer engagement while setting your business up for success.
In the midst of pandemic recovery, telco consumer sentiment is generally optimistic. The Australian Government is investing in digitisation infrastructure, consistent with other global economies where digital economy growth is exceeding GDP [1].
The media industry is in a similarly optimistic consumer position, with streaming, user-generated content and other technology driving an industry evolution. Likewise in the tech sector, where communications and healthcare businesses were able to maintain high levels of performance [2] during the pandemic.
At the same time, consumer behaviour has shifted dramatically as they embrace new technology and generate data at increasingly high rates. This is all in the context of labour shortages, particularly in the technology industry.
Today’s consumer landscape is ripe with opportunity, although not without its challenges.
The face of consumer engagement is changing. As you set about understanding your customer and measuring customer engagement, you’re likely seeing these trends playing out in real time.
Here are seven of the key trends that are fast shaping the industry.
The best strategies for reducing churn rate are quite simple: it’s about understanding why customers churn and then improving your customer engagement. With a solid customer engagement and retention strategy that builds on these trends, you are a step ahead of your competition.
Pendula’s no-code platform powers two-way, personalised conversations, allowing businesses to build solid customer relationships, in real-time, on the fly.
By building automations and workflows, you can create an intuitive and seamless customer experience that can evolve with your business. The result for your business is a streamlined approach that allows you to communicate with the right customers, in the right place at the right time.
Keep your business up-to-date with the changing landscape of customer experience and engagement with Pendula. Create automated workflows and free up your people to focus on what they do best. Talk to an expert about how we can help you to transform your consumer engagement, boost customer experience and drive retention all on one platform.
References:
[1] [2] PwC. (2022). 2022 Australian Telecommunications, Media & Technology Outlook [PDF]. Retrieved from https://www.pwc.com.au/industry/telecommunications/assets/2022-australian-tmt-outlook.pdf
[3] ACMA. (2022, January 18). Communications and media in Australia: Trends and developments in telecommunications 2020–21 [Report]. Retrieved from https://www.acma.gov.au/publications/2021-12/report/communications-and-media-australia-trends-and-developments-telecommunications-2020-21