The top investment priority for businesses is enhancing the customer experience. According to the Everest Group Key Issues (2019), When the economy weakens, the first priority is to invest in capabilities and technologies to improve customer experience, then focus on operation cost reduction; in other words, optimize the cash flows, then focus must be laid on driving the productivity efficiently.
This is true that COVID-19 has impacted enterprises- be it in the retail industry, BPO, Film industry, or others by presenting unavoidable situations and casualties that demand quite a time to recover back from. Businesses that continue to focus on customers and their needs, have an opportunity to emerge after this crisis easily.
The two most important steps and measures to take care of are:
1. Ensuring continuity and performance efficiency of all the departments in the enterprises:
Keeping the work and deadlines; health and safety of employees/workforce in mind, organizations have adhered themselves to WFH (Work From Home) model as an immediate response to COVID-19 and government initiatives and rules applied. Understandably, enterprises are facing multiple challenges, including setting up laptops, ensuring security and compliance measures, training employees for a work-at-home environment, etc. Ensuring work being done and well communicated is the key to floating back into the market at ease.
2. Finding and collaborating with the right people:
Organizations might need more experienced agents to work them out of the pandemic and casualties caused. Since many companies are displacing their service-oriented employees as a response to the downturn, there’s an opportunity to find the best out of the pool. This gig-to-do model aligns with the needs of customers who belong to a digital-savvy group.
While all the enterprises will surely rise above the pandemic but some will come out of this crisis better than others. Companies that are quick in decision making and are fast-paced when it comes to working according to the situations and customers’ demands even before when the customers know it themselves are more likely to succeed.
While the world is accessing the sanitary methods and is practicing social distancing, enterprises with great leaders are not only doing the obvious but are also taking steps to enhance their customer experience by working in advance. Many companies have partnered with BPO to handle their back offices to ensure enough time is invested in planning the efficiency enhancement strategies to boost operations, executions, and customer experiences while BPO partners are handling all the non-core processes and maintaining the flow.
Steps like these are small but can be a game-changer when it comes to fighting against the falling economy