The numbers are in and it’s undeniable – customer experience is everything. Studies reveal the irreplaceable value of good customer experience to the success and growth of any company in any industry.
A study from PwC revealed that customers are willing to pay up to a 16% price premium for top-flight service, while 32% of all customers are willing to walk away even from a brand they love after only one bad experience. Customer loyalty also grants businesses much more flexibility based on a study from the Temkin Group. Loyal customers are five times as likely to repurchase a product and forgive a mistake, seven times as likely to try new products, and four times as likely to refer the brand or company to others.
In its goal to empower local businesses to achieve commercial success, GCash for Business held the “Experience Easy” Business Summit to provide Philippine companies of all sizes with much-needed solutions to an increasingly demanding local market.
“Customers have their own point of view of what they expect from brands they interact with, and they’re not shy about letting everyone know. This forces businesses to face two realities: they can learn directly from their customers what they need, but they can also be immediately called out for unfavorable service,” said Kate Cruz, Head of B2B Marketing. “As a finance super app with millions of users, GCash is uniquely positioned to know exactly what Filipinos want to help businesses create enjoyable and relevant experiences for their customers at every touchpoint.”
Experience Easy with GCash for Business
With mobile usage accounting for about 70% of internet traffic and with a projection to increase in the coming years, businesses have ample opportunities to offer meaningful experiences to their customers. However, with countless channels to choose from, creating such experiences can become overwhelming and expensive.
With a multitude of financial products and services available for every Filipino, GCash for Business makes it easy for companies to effectively engage multiple customer touch points and address critical challenges to achieve specific goals.
Experience Easy and Preferred Payments
The Philippines is already considered as one of the largest and quickly expanding eCommerce markets in the world, and the fight for market share in this space will only get tougher. As a consumption-driven market, Filipinos are also motivated to purchase more when there are less barriers to deal with.
With GCash for Business, companies can give their customers a seamless experience with every transaction for an already captured market of over millions of users. Merchant transactions can be conveniently and quickly done online via Webpay, or in-store via Scan-to-Pay, allowing customers to pay however and whenever they want.
To also avoid long queues, Scan to Order was also recently introduced wherein customers can now order directly on the GCash app. They can easily skip the queue, order and pay directly on the app and go straight to the store for pick up – improving the overall shopping experience.
Experience Easy and Relevant Advertisements
With customer loyalty becoming more elusive than ever, personalization has become a key strategy for all businesses. Customers have high expectations from businesses to know their interests by offering relevant recommendations and targeted promotions.
With GCash for Business Ad Solutions, companies can easily create tailor-fit and timely messaging based on customer behavior. They also have easy access to promo solutions that include affinity targeting, geo-targeted ads, and hyper-AI ads to reach exactly who they want to reach when they need to be reached.
Experience Easy and Flexible Installment Options
Every transaction and every sale is valuable in a highly competitive environment, and it’s up to each merchant to help customers on a tighter budget make the purchase. When customers deal with less financial burden every time they buy, businesses can convert more visits to sales while giving customers freedom to manage their transactions in the easiest way possible.
For eligible GCash users, businesses can offer different flexible payment plans and options via GGives, the easy-to-pay installment plan, or GCredit, an extended credit line. Whether online or in-store, merchants can take advantage of lending solutions fit for their business model and their customers.
Experience Easy and Efficient Disbursements
Good customer experience should be carried end-to-end, which happens beyond the point where customers receive their products or services. While businesses tend to focus on putting their offers on the market, customers continue to expect positive engagement long after the transaction is completed.
GCash for Business Funds Disbursement Solutions gives businesses the flexibility to complete online or offline transactions in various ways. This also eliminates the hassle and associated risks of cash handling especially when it comes to large payments. Coupled with upgraded incentives such as customizable vouchers or even the availability of a GCash Card, businesses can easily facilitate convenient and rewarding experiences for end customers throughout their entire purchase journey.
“There are many ways to engage a customer – the trick is knowing how to do it right,” said Luigi Reyes, VP for Commercial Sales and Operations. “Although there are many technologies available, we focus on providing our clients and partners with the essential elements that customers value the most – speed, convenience, and personalization. With GCash for Business, both businesses and their customers can benefit from an easy-to-use platform that streamlines transactions and enhances their overall experience.”
Companies have the opportunity to engage and retain their customer base by fulfilling their demands. With the increasing popularity of digital payments and online transactions, enterprises in the Philippines can now offer easy and flexible payment options and rewards, both online and offline, to millions of Filipinos through GCash for Business.