Posts Tagged ‘Customers’

Ecommerce means “the business of buying and selling things over the Internet.” Many businesses use ecommerce to reach out to clients all over the world and grow their sales. Ecommerce has several business models. Let’s review the most common models: Business-to-Business (B2B) Business-to-Consumer (B2C) Consumer-to-Consumer (C2C) Consumer-to-Business (C2B)   Business Buyer Consumer Buyer Business Seller […]

People have higher expectations than ever when it comes to customer care. With the development of technology and communications, customers are now seeking immediate gratification. The average customer believes immediacy and accuracy to be two of the important traits of customer service. The method of interaction is also important for consumers, which gives businesses something […]

While the term “business transformation” has been floated around for decades, digital and the deployment of modern technology remain the cornerstone of today’s investment decisions. Customer expectations have changed greatly in recent years. Strong brands like Facebook, Amazon, Apple, Netflix, and Google, which investors often refer to as FAANG, have changed consumer behavior. Not only […]

Cutting unnecessary costs and investing in technology (e.g., digital, planes) to support the business is a complex task, but certainly a requirement for long-term growth. Fuel costs – the number-one non-labor expense for airlines – can only be hedged to the degree the petroleum market allows and that is by and large outside the control […]

Customer satisfaction is always top of mind for airlines. Unhappy or disengaged customers naturally mean fewer passengers and less revenue. It’s important that customers have an excellent experience every time they travel. On-time flights, good in-flight entertainment, more (and better) snacks, and more legroom might be the obvious contributors to a good experience and more […]

Operational performance (or operational reliability) is about running an airline like a well-oiled machine. Pun intended. It’s about on-time performance and completion rates. It’s about reducing involuntary denied boardings and the rate of mishandled bags. It’s ensuring that continuous improvements and efficiencies are always in motion. A smoothly run airline enhances customer perception, satisfaction, and […]

If you listen closely to industry executives, you’ll note that many of them typically hone in on several key strategic initiatives. Naturally, there’s a crossover between them, and each one can affect the other. Operational performance or operational reliability is one. Customer satisfaction, customer loyalty, or brand strength is another. Last but not least are […]

The airline industry is scrutinized by passengers and analysts alike, mostly for two reasons. One, many people take one or more flights a year and have personal experiences that leave lasting impressions. Two, the industry’s economic impact is unprecedented. According to the Federal Aviation Administration (FAA), “Aviation accounts for more than 5% of our [United […]

Adjusting to the new regulatory environment Recent problems with bank employees opening unauthorized accounts for consumers have focused the regulatory spotlight on sales practices in the industry. The fallout from sales practices problems has been spectacular and well-publicized: Hundreds of millions of dollars in fines and legal costs Destruction of shareholder value Brand and reputational […]

Reputation Institute, a research and advisory firm that focuses on tackling and analyzing the reputation of companies worldwide, released its annual ranking of the most reputable U.S. banks. According to the report (and a basic understanding of human nature!), a company’s reputation has an effect on: Customers buying your products and services Policymakers and regulators […]

A while back, I wrote a blog post that shared ways in which the financial services industry can leverage social tools to win over existing customers, cultivate new ones, and become more efficient in their business operations. One example was how Barclays created a new product called Barclaycard Ring, which gives cardmembers the opportunity to […]

As a long-time customer of Vanguard, I can attest to their great way of doing business. While I’ve never set foot into an office of theirs, the financial services company – one of the world’s largest investment management companies – was able to gain my trust and, without much effort, convince me to enlist them […]