Infobip recently held its Ghana Business Breakfast event in Accra, Ghana.
The event by Infobip, a global cloud communication company for businesses and a leader in omnichannel customer engagement, focused on the transformative intersection of digital adoption and Customer Experience (CX) and what it means for business.
Themed “Unlocking Profitability of Digital Adoption in CX”, the business breakfast unpacked how new technologies, specifically in terms of new communication channels, are shaping the CX in the Banking, Financial Services and Insurance (BFSI) industry.
“Delegates received a sneak peek into global trends and how technology is shaping African businesses in terms of digital adoption and CX enhancement. Attendees also received valuable insights into what the BFSI sector will look like in the next five to 10 years highlighting its current trajectory driven by the growing fintech ecosystem,” says Hrvoje Zorko, EMEA Product Sales Expert at Infobip.
“The adoption of over-the-top (OTT) channels, also known as streaming channels, together with automation, can impact the overall experience that users have with brands. It can also impact the profitability of the brands by helping to keep the costs of servicing customers lower than the rate at which their businesses and revenue streams are growing.”
Integrating digital channels
Zorko notes that delegates heard about the importance of integrating digital channels seamlessly into the CX journey of BFSI institutions and how these insights contribute to improving customer satisfaction and driving repeat purchases.
“Digital channels are new tools that present new ways to collect behavioural data about customers, especially in terms of customer preferences. Organisations can leverage this data to obtain a 360-degree view of their customers, where they are and how they utilise these channels to create targeted campaigns and personalised experiences,” he says.
“When customers feel that they are important to a business, they are more likely to spend more and remain loyal to your brand.”
Zorko adds that embracing digital transformation and integrating it with the CX can help BFSI businesses stay ahead of their competitors resulting in profitable growth as it is easier to optimise the most cost-effective way to communicate with customers.
“The automation of lead generation and the growth and automation of support services allows organisations to service their customers more efficiently, with fewer resources that can support a much bigger customer base. This is connected to the cost of ownership of this technology and the cost of growth, which ultimately results in the profitable growth of a business,” he says.
Omnichannel approach
Furthermore, Infobip’s CX experts also shared with attendees how a seamless omnichannel approach enhances the overall CX by not only allowing customers to communicate with a business over their preferred channels but also streamlining all interactions across multiple touchpoints in a unified way to deliver a consistent brand experience.
However, BFSI businesses in Ghana could face some challenges when implementing digital transformation initiatives in their customer experience strategies, with Infobip’s team providing some advice on how to overcome these.
“So, in a market like Ghana, there are still users who prefer face-to-face interaction or telephonic communication over digital engagement. Hence, simply adopting technology outside of the big cities can be challenging,” says Zorko.
“On the other hand, many well-established businesses – even some that are long-standing household names – are not always very agile and do not adapt to change easily, so they tend to lag behind fintech startups in terms of technology adoption.”
Through events like this, Zorko says Infobip is trying to shift this mindset towards new trends, highlighting where the company can help to bridge the gap between the status quo in the local market and global developments and the new possibilities they present.
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