Covid-19 has upended much in the business world. One of the biggest changes is seen in consumer spending habits. Customer loyalty is not a given – people are switching brands and altering their normal spending patterns in search of socially responsible behaviour, value, and compatibility with lifestyles centred around the home. Now is the prime time for companies to improve their customer experience. What are the best ways to create a good experience for customers? Switching to a fast and convenient instant payment system is one way to help retain existing customers and attract new ones.
Have a strong and caring business model
Recent research shows that over 60% of consumers are choosing to buy from companies that are socially responsible. Compassion is foremost in people’s minds and when businesses treat customers, the community, and employees with care it is something that makes an impact on new and existing customers. Some companies have continued to pay workers their regular rate when they are self-isolating, others have waived transaction fees for customers. Actions such as these, create goodwill in the community and strong customer loyalty.
For example, Fender Guitars have invested not only in their product, but also in encouraging diversity and promoting new musicians, something that is especially important while live performances are on hold during the pandemic. By reaching out to the musical community, Fender is creating brand loyalty that will endure beyond the pandemic.
Boost value for your customers
Uncertainty about job security has customers focusing more on value. If businesses make the most of the ways they interact with customers digitally it can help save money, enabling them to give customers better value. Furthermore, businesses that keep abreast of the real-time changing needs of their customers can better understand how to target their resources and give the customer more of what they want. The real-time needs of customers can be best understood by talking to employees that deal directly with customers and by paying attention to customer feedback on social media.
Cater to the lockdown lifestyle
With new vaccines getting approved daily, there is hope that Covid will be under control soon. Even so, the stay-at-home life of 2020 looks set to continue for the near future. Therefore, it is vital to cater to people in their homes. Improvements include:
- Extending free content on digital platforms – many companies offered special content or free trials of their apps during the initial lockdown. Headspace, a meditation app, offered free subscriptions to NHS staff and UK workers on furlough or unemployed. By doing so, companies like Headspace were able to introduce themselves to new customers while helping these same people endure isolation at home.
- Shift face-to-face experience to online – Conferences and classes cannot be offered in the way they used to be, but this is not necessarily all bad. By offering lectures and classes on line using video platforms, a business can reach people who were normally unable to attend because of geographic constraints.
- Use a mobile, instant payment system– By accepting contactless methods of payment that can be made using a mobile or other internet connected device, businesses make it easier and safer for customers to make their payments.
Ordo is an instant payment system that will improve the customer experience and efficiency of your business. It is a completely contactless, cardless payment request service. Customers do not have to download an app or reveal sensitive bank details. They simply click a secure link in order to make their payment. But Ordo is not only beneficial for your customers, it is beneficial for your business too. Payments are instant and easily reconcilable, which saves time and money. Arrange a demonstration of Ordo today.