Serving customer needs in India: Insights from The Futurist CMO Conference
With affluence levels and digital penetration rising rapidly in India, the consumer landscape is growing more complex by the day. Brands in the country are used to dealing with vast differences in language, culture and geography, but the empowered shoppers of today are also more demanding of the providers of goods and services than ever before.
Given the enormous amount of choice and low levels of loyalty characterising the market, no brand can risk providing poor service or ignoring the changing preferences of its current and potential customers. Various speakers at The Futurist CMO Conference, held in New Delhi in September 2013, discussed how they are approaching such challenges, and what the future may bring.
Working with shoppers in new ways
Vandana Allagh, senior vice president and head of service assurance at IndusInd, reported that the bank was seeking to provide prompt and high-quality service by tackling grievances, building a strong database of clients and introducing user-friendly products. By way of an example, she cited its "My account, my number" scheme, whereby customers receive an account number of their own choosing, giving them a sense of importance, exclusivity and active involvement in the process.