October 15, 2020
Average Read Time: 3 minutes
Recently, our very own SVP of Operations, Mike Vaughn, spoke with PYMNTS.com about the transformation of the customer experience (CX). Vaughn made the point, “Customer experience is just a broad term, and oftentimes, businesses and organizations treat it as a project when it really should be looked at as a program.” In today’s blog post, we’ll briefly explore that idea as it relates to an omnichannel, digital CX. Be sure to check out the full interview!
In today’s world, we’ve seen an increase in online spending while in-store spending has either declined or grown at slower rates. This is a tell-tale sign that the customer experience is increasingly immersed in an omnichannel approach, which means that customers are shopping in stores, on websites, and across social media channels.
Considering this migration to an omnichannel approach, Mike Vaughn is correct to suggest that merchants should treat the CX like a program rather than a project. Why? Simply put, a project usually has an end date while a program is continual. Further, this idea also demonstrates the fundamental difference between multichannel (channels become siloed) and omnichannel (channels work together) approaches to commerce.
For merchants, it’s important to partner with a fintech company who not only understands the importance of the customer experience but also how it delivers solutions and support to help merchants tap into the power of omnichannel—including website sales, payment methods, and powerful reporting and back-office functions. Driving the point home, Mike Vaughn states, “As businesses look to improve money management activities, they want to make sure all of those integrations are there, and they will search out solutions that work with their existing providers.”
The more we move towards this holistic approach to digitization, the more important it becomes for merchants to centralize their systems and solutions. Running a business on a true end-to-end platform is a step in the right direction as the digital customer experience begins to see higher adoption rates, which is precisely where Mike Vaughn predicts this trend to settle: “The trend, after all, is toward contactless transactions.”
MerchantE can help you ensure that your business is set up for scalable growth as more and more consumers—and B2B businesses—shift their behaviors. It’s happening globally.
Contact us today for more information!
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