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A digital business model that takes customer experience to the next level

Posted by Emmy Sevón on 27-Jun-2018 13:51:04

If you take a quick look at your online sales, what do you see? Have you got a successful digital business model generating all the leads and sales you need? Or maybe you have not yet got the results you expected? Whatever your situation, we are confident that the model we propose below will add significant value to your digital business and considerably improve customer experience.

Timing is essential for the digital customer experience

Take a look at the following figures-

  1. There are over 4 billion people using the internet around the world
  2. Over 3.5 billion online searches take place on a daily basis
  3. Every single day, we are exposed 5,000 ads and sales messages, give or take
With so many potential customers searching for information daily, online opportunities are huge. However, competition is tough, so it’s crucial for businesses to stand out in order to reach the right audiences and make an impression.

So, how to stand out? Part of it, of course, is about having a good product or service, and relevant offers. This is your bread and butter- a solid product offering justifies a company’s existence.

However, a good offering is not all. 7 years of digital experience and 1000+ customers have taught us that timing is equally as important. It is the most essential component of customer experience and the foundation of any working digital business model.  

 

Why is it important to improve online customer experience?

Let’s discuss a hypothetical website, assume that this website has a 2% conversion rate, in other words, 98% of online visitors leave without making a purchase or taking any action. And let’s also assume that we get 10,000 unique visitors every month, 120,000 every year, so a whole 117,600 visitors leave the site without making any kind of purchase or leaving any follow-up details. It’s safe to assume that a large portion of this figure will be leaving the site to go to a competitor or because they lost interest in the product.

The issue is that this is not a hypothetical scenario, we have seen our fair share of websites missing out on the vast majority of potential deals, it’s a very common challenge for businesses online. And it is one intrinsically linked to customer experience.  

Improving timing, customer experience and, ultimately, your digital business model

Let’s use the example of a flat or a car purchase, few people, if any, would buy a flat without discussing financing options with a bank first. Likewise, when buying a car, most people search for different insurance options before completing the purchase. Mortgages and insurance are easy examples of certain essentials that customers need to take care of before making an important purchase.  

Taking it a step further, what happens once the purchase is made? What else does a person need after they’ve bought a flat? Internet and electricity perhaps, possibly hiring a moving company, new furniture…in other words goods and services that optimise that initial purchase.

Once a customer has found the perfect flat on an estate agent’s website, they may open new tabs- “cheap electricity subscription”, “moving company”, and compare the supplier options they get on the first page of their Google search. This gives highly-ranked companies a better chance of winning the customer over. At this point, even if you are one of the companies on that first page, only a fraction of your potential customers will land on your site.

So, what does this have to do with timing, customer experience and your digital business model? Imagine you could reach all of these potential customers earlier in the decision-making process. Offer them your product or service in the right context, when it’s relevant to them, before they’ve even had the time to go on Google or compare prices? They are buying a flat, and you, the internet provider, show up right there and then during that initial purchase process.

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We believe that in the future, websites will be white canvases, customised to strictly fit customer needs. Your sales team will be online, readily available, not only on your own site, but also on partners sites to optimise the end-to-end customer experience.

It is vital for customers to see your brand right at the point where their purchase decision is being made. Offer your product or service to them the moment it becomes relevant. Always put the customer first and ask yourself, what do they need? How can I satisfy that need?

Digital Partnerships

Digital partnerships facilitate associated purchases, they give you the chance to offer your products beyond your own domain, but they also create a seamless, centralised, easy shopping experience for the end customer.  It’s a Win-Win-Win situation, you sell more, your partner sells more, and customers experience a much better service.

How do we know this? We are already doing it! With many of our customers!
We are confident that we can help you broaden your digital business model and improve your customer experience, so come and chat with us, we’d be happy to discuss.

 

Interested in reading more about customer experience? Check out our whitepaper below! 

Download_whitepaper_Discovering_Customer_Experience

  

Topics: Live Chat, Customer experience, Digital Partners, digital business model