In today’s digital age, consumers have evolved to become far more independent and self-sufficient. They expect access to information,
services, and products to be quick, easy, useful, engaging, and even entertaining. Businesses that are not yet meeting these new
expectations are falling behind the curve.
But this particular curve is not just the trend of today that’s going to be gone tomorrow; it represents a fundamental shift in the marketplace. What was once a straightforward B2C or B2B relationship in which the businesses located nearest the consumer essentially had a monopoly is now a far more complex paradigm. Now, thanks to the internet and social media, consumers have access to exponentially more businesses and – most importantly – to each other. And they share information like crazy.
This is why the customer/stakeholder experience has become paramount. If a customer has a bad experience with a company, not only will they stop patronizing that business, they’ll share their bad experience with the world. On the flip side, when a customer is consistently happy with a business, they become a loyal brand advocate, sharing their good experiences with everyone.
Cultivating those loyal brand advocates is what digital transformation is all about.
To learn how financial services companies are creating loyal brand advocates, download our newest guide that features over 100 real-life examples.