How to create high-value customer interactions and win in the Low Touch Economy

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In these unprecedented times, it’s important to put the needs of your customers first.

Open up and be transparent

Only then will you be able to find success for your brand and come out of this crisis stronger than before.  We are all figuring this out together. Tell your customers the precautions you are taking to ensure their safety and the safety of your employees.

See: A global view of how consumer behavior is changing amid COVID-19

Do you have workers on the front line or handling deliveries? Consider doing continuous temperature checks throughout the day to check they are symptom-free.

Make it personal 

A human-first approach will allow you to show empathy and understanding for the customers you service and the challenges they are facing during this crisis. Demonstrate that your brand is more than a corporate logo by putting the people and employees that are working behind the scenes at the forefront of the conversation and messaging.

Try on a different value proposition

Many industries operate for years on the same assumptions, falling into the same category norms and succomming to common category pressures. It’s normal for companies to forget to think for themselves in times of crisis. This global reset is the perfect moment to do things differently and create even more value for your client. Ask yourself, what previous rules no longer exist and how can you use this time to differentiate yourself with customers?

Example in retail/logistics: Many products don’t need same-day deliveries. For many orders, this is 100% overkill. Consider switching to slower delivery options. it creates new possibilities: bundle deliveries with other shops, clients can update and add items to their order the next day, you can use alternative and greener transport options that your client value.

Switch to new client segment or product/service

Who says you must continue focusing on your current customer base? Try to focus on a more value segment to do business with or whom might benefit from the services you offer at this time.

See:  Bringing Good Ideas to Life: 13 Modern Ways to Innovate

We are seeing many businesses switch from a B2C to B2B model and visa versa.  Every business has assets and resources at hand. Evaluate what you are actually good at and use that to inform a new swimlane for you to succeed in. You can keep your current business in tack, while also launching a new brand and whole new revenue stream on top of that.

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NCFA Jan 2018 resize - How to create high-value customer interactions and win in the Low Touch Economy The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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