According to Google Trends, searches for “business continuity planning” skyrocketed on March 12, around the same time the US declared a national emergency in response to the coronavirus outbreak. The pandemic forced this oft-overlooked back-office function into the spotlight, bringing along with it economic turmoil.
Here are some great statistics, compiled by SMC Consulting, on the state of customer engagement today.
The best ways to engage consumers are:
Surprise offers or gifts for being a customer (61%)
More convenient shopping process (50%)
Solving a problem or question (45%)
Recommending products based on needs (27%)
Keeping customers up to date on the latest news and products (23%)
Welcoming customers when they visit (20%)
Engaging customers on social media (9%)
One third of small and medium businesses (SMBs) use free, consumer-grade cybersecurity tools, one fifth maintain no endpoint security, and 43 percent have no cybersecurity defence plans, placing their business-critical assets at risk.
This is a critical oversight. The economic fallout from COVID-19 is a stark reminder that SMBs make up the vast majority of the nation’s businesses at the local level. Small businesses comprise 99.9 percent of all businesses and employ nearly half of all workers.
Customer engagement has never been more important than it is right now. With so many stores having to temporarily close their doors, marketing efforts have had to move exclusively online.
Gone are the strategies focusing on traditional and print marketing—people aren’t going out enough to see them.
Social media has been a core content marketing platform for most businesses, regardless of their size. And in the current environment, these channels are becoming even more necessary.
From increasing website visits to building customer loyalty, social media offers a number of advantages when most marketing avenues are closed to businesses.
We share a few reasons why social media is the best customer engagement option for companies right now.
This Finserv customer keeps CX at the front and center of their offering by employing over 8000 customer service agents located across the continental US and available 24×7. These agents handle queries phone and digital channels.
Their first foray into digital customer service was in 2006 when they launched live chat support on the website. Although live chat was well received by their customers, their Director of Digital Customer Service and team felt they could do even better.
The ﬁnserv industry is undergoing a radical shift driven by mounting regulations, changing business models, and razor-thin margins. And as if these challenges were not enough, the emergence of new-age FinTech companies like Apple Pay and Google Pay have disrupted the way consumers perform transactions, resulting in ﬁckle customer loyalty. A study from Bain & Company reports US customers rank disruptors like PayPal nearly as high as banks for trust with their money. This has forced traditional institutions to rethink the way they do business.
The concept of the agile and remote worker has become more prevalent in recent years, as consumer Wi-Fi becomes more faster, we carry corporate laptops or BYOD-permitted smartphones, and realize we don’t all need access to a printer and fax machine. That’s been good preparation for the current COVID-19 lockdown, where remote working has moved from being something that you may do one day a week to something that is the new norm for many people.
A majority of cybersecurity professionals have said that their job functions have changed due to the COVID-19 pandemic, with 90% now working remotely full-time.
According to a survey of 256 cybersecurity professionals by (ISC)2, 81% of respondents, all responsible for securing their organizations’ digital assets, indicated that their job function has changed during the pandemic. The survey, which was conducted this month, also found that 96% of respondents’ organizations have closed their physical work environments and moved to remote work-from-home policies for employees.