5 Experience Predictions for Retail in 2019
In the retail industry, one that’s known for its ability to continually reinvent itself and find new ways to connect with consumers, the huge shift in consumer behavior from physical...
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Wouldn’t understanding your customers be a whole lot simpler if they were all exactly the same?
Of course, there isn’t a successful company on earth that expects this to be true. That’s why most companies work hard to understand the different behaviors and expectations within their customer base — as well as how good of a job the company is doing at meeting those expectations.
But how do you accomplish this when you’re operating at a global scale?
It certainly isn’t easy. To start, you must account for linguistic and cultural differences between customers. Consider as well that most regional divisions only really pay close attention to the customer experiences happening within their territory. When different teams aren’t speaking the same language about customer needs — either literally or figuratively — a company will likely struggle to tell which improvements will have the biggest impact.
The payments provider Western Union offers an example of this challenge. The company has faced the issues mentioned above — but that’s only the beginning of its complexity. It also serves a diverse customer base made up of individual consumers, major corporations, and even NGOs. These customers transfer over $700 million every year, in transactions that often span the globe.
What’s more, in order to make its services as accessible as possible to these customers, Western Union has built a uniquely varied omnichannel experience consisting of over 500,000 service agents, 100,000 kiosks, and 33 separate regional web portals. Many of these touchpoints involve a third parties — banks, retailers, ATMs, and even prisons. Many are also located in regions with limited or non-traditional banking services.
Needless to say, all of this made it hard for the company to maintain an accurate, up-to-date picture of its customer experience performance — let alone to drive meaningful improvement.
So how did Western Union respond?
We’ve just released a case study that explores what they did. You can check it out right here!