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New Channels, New Powers: Are You Up to Speed with Customer Communications? (By Tushar Vashnavi)

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1 year ago

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Customer Communication

Consumers have more power than ever, and businesses will need to accept and embrace this to attract and, more importantly, retain them

DURBAN, South Africa, June 22, 2023/APO Group/ — 

By Tushar Vashnavi, Director of Strategic Planning, Canon EMEA

Not all the changes of the past two years are here to stay. But one area that has transformed is customer communications.

Every output from every customer communications management system is a customer experience, and each of those experiences is part of a customer journey – and that journey has changed. A digital-first, personalised approach is expected, and the ‘new’ ways of working are no longer new. Consumers have more power than ever, and businesses will need to accept and embrace this to attract and, more importantly, retain them.

Not only that, much of the digital transformation that took place at the beginning of the pandemic were short-term measures. In a world of unpredictability, businesses now need to look at removing these sticking plasters and replacing them with future-proofed solutions. 

Digital first, not digital only

The circumstances surrounding the pandemic prompted a digitisation of business processes, including customer communications. Indeed, digital transformation was accelerated by several years[1]. Customers accepted a digital-first approach and now expect it, along with a high level of personalisation; both consumers and B2B buyers have an expectation that businesses know their specific needs[2].

Essential to personalisation is channel preference. There was a massive shift of communications spend to digital in the two years pre-pandemic[3], but that potentially overlooks the power of print. Studies have found that print is the most highly trusted medium available to marketers today, while website advertising, particularly through social channels, is the least trusted[4].

When planning their customer communications strategy, businesses should also bear in mind generational differences. Younger generations typically prefer digital-first methods such as text and live chat to phone and have embraced self-service and chatbots[5]. The pandemic has pushed older generations towards digital too, but organisations should be supportive and understanding of these new adopters as well as those who remain offline. In England, for example, this is nearly half of those aged over 75[6] – a significant proportion of a potential customer base who risk being lost via a digital-only strategy.

It’s not just missing the mark in terms of channel that could lose an organisation customer. Research by Quadient, a specialist in customer experience management software, found that 70 per cent of UK consumers would blacklist a company for failures in their customer communication, ranging from basic personal information errors, to using the pandemic as an excuse for delivering poor customer service, to sending spam[7]. One-third said they have stayed with businesses which offered poor customer service during the pandemic but will be moving to competitors when things return to normal.

Futureproofing for success

So, the customer communications landscape has changed, consumers have newfound power and organisations need to get up to speed quickly. But how do they adapt and achieve cut-through?

The key is a strategic, holistic approach that spans every line of business, ensuring each element is customer centric. Budgetary silos can mean organisations are not aligned across departments, resulting in a failure to meet expectations. For instance, if a customer calls the billing department to report a change of address, they will assume that change would be made across marketing and sales too. If it isn’t, they could be switching to a competitor. Customer communications solutions that do not replicate changes throughout the data flow, or do not automate such tasks, have the potential to create more problems than they solve.

Many organisations who made knee-jerk purchases prompted by the pandemic are now finding they are not fit for purpose long-term. Businesses may need to reconfigure or entirely replace them – otherwise they are simply a stopgap solution that could ultimately fail.

To be fully future-proofed, look also to the cloud. Traditionally customer communications solutions have been on-premises, but businesses should invest in a solution that is both on-site and accessible via the cloud with the ability to switch from one to the other – an approach that meets the needs of a hybrid workforce.

Hybrid working is now the norm across many parts of the globe[8]. It’s clear that for staff to complete customer communications work efficiently and effectively they need seamless access wherever they are located. As well as affecting customer relations, mistakes here could risk losing employees. ‘The Great Resignation’ reflects a greater ability for people to leave jobs which don’t meet their personal needs[9], or where they encounter obstacles to their productivity in their chosen location.

The uncertain future

Customer communications solutions typically have a lifespan of ten, and in some cases, up to 20 years. That’s a weighty consideration for anyone charged with the responsibility of making such investments. And, if the pandemic has shown us anything, it’s that nothing is certain.

However, we can make some forecasts. Quadient predicts customer services will continue to fragment and multiply in volume and reiterates that meeting fast-evolving customer expectations isn’t possible unless organisations are joined up internally from a process and technology perspective[10]. Lines of business need to work together and consolidate data from different stages of the customer journey, making every aspect customer centric.

With that in mind, organisations should look at the changes that need to be made now. How can accurate personalisation be assured? How can departments work more efficiently together? What are the issues in the current workflow? Answer those questions today to invest in a successful tomorrow.

[1] https://apo-opa.info/3NIsOMI  

[2] https://apo-opa.info/46jRhyU

[3] Canon Insights report 2020 ’Creating Customer Value’

[4] https://apo-opa.info/3PqhGFu  

[5] https://apo-opa.info/46i1H1Z

[6] https://apo-opa.info/4454Ws4  

[7] https://apo-opa.info/3JOFLST  

[8] https://apo-opa.info/3NFx9jG  

[9] https://apo-opa.info/3CJ3Lma  

[10] https://apo-opa.info/3CJnPVu  

Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).

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International Islamic Trade Finance Corporation (ITFC) Engages Stakeholders During the World Trade Organization Aid for Trade Review 2024 Event

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2 days ago

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July 5, 2024

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ITFC

African Finance Corporation, International Trade Centre, ITFC, WTO, Afreximbank, and UNIDO Sign Joint Declaration to Promote Cooperation in Support of the Cotton Sector

JEDDAH, Saudi Arabia, July 4, 2024/APO Group/ — 

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank (IsDB) Group is pleased to announce the Corporation’s active participation at the 9th World Global Review for Trade. This event, themed ‘Mainstreaming Trade’, was held at the World Trade Organization’s (WTO) headquarters, in Geneva from June 26 to 28, 2024.

The World Trade Organization (WTO) Aid for Trade Review is a significant global platform that brings together policymakers, development agencies, and trade experts to discuss strategies and initiatives to promote trade as a means of development. This year’s theme highlighted the importance of integrating trade into national development strategies for sustainable economic growth.

ITFC remains committed to strengthening existing partnerships and leveraging new synergies to provide our member countries with trade solutions best suited to global dynamics

The event was an occasion for ITFC to cement its strategic partnerships with the international trade community, explore new areas of cooperation, and present IsDB Group’s achievement with the publication of the IsDB Aid for Trade Report.

A joint declaration was signed between Eng. Hani Salem Sonbol, CEO of ITFC; H.E. Ngozi Okonjo-Iweala, Director General of the WTO, Benedict Oramah, President and Chairman of the Board of the African Export-Import Bank (Afreximbank); Gerd Müller, Director General of UNIDO; Samaila Zubairu, President and CEO of the Africa Finance Corporation (AFC), and Pamela Coke-Hamilton, Executive Director of the International Trade Centre (ITC).  The joint declaration will strengthen cooperation in areas of common interest under the coalition ‘Partenariat pour le coton’ by establishing sustainable textile hubs, supporting private sector investments, and encouraging collaboration and advocacy in Africa and beyond.

 The signature ceremony was followed by a high-level panel session titled “Cotton to Clothing: Charting Pathways to Create Sustainable Jobs for Women and Youth in West and Central Africa”. Mr. Sonbol underscored the long-lasting involvement of ITFC in cotton production in the past 15 years: US$2 billion financed to connect firms and millions of smallholders’ cotton farmers to global value chains. He also presented ITFC’s solutions programs as solutions to support investment promotion, market access, and capacity building to enable the environment for a regional textile value chain in Africa.  

In addition, Eng. Hani Salem Sonbol participated in a panel session on “Financing Aid for Trade—Regional Perspectives,” highlighting the potential for economic transformation of OIC member countries through regional integration and showcasing IsDB Group synergy that allows to offer robust regional programs to OIC member countries in different continents. 

Commenting on ITFC’s participation during the WTO Aid for Trade Review 2024, Eng. Hani Salem Sonbol, ITFC CEO, said: “ITFC’s participation at the 9th World Global Review for Trade is a clear testament to our good relations with the World Trade Organization and our support for their mission of leveraging trade to generate employment opportunities and improve livelihoods. ITFC remains committed to strengthening existing partnerships and leveraging new synergies to provide our member countries with trade solutions best suited to global dynamics. We look forward to further supporting sustainable trade, trade finance, and value creation through these strategic partnerships.”

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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Republic of Congo Hydrocarbons Minister to Discuss Gas Monetization at Angola Oil & Gas (AOG) 2024

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2 days ago

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July 5, 2024

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Hydrocarbons

Both the Republic of Congo and Angola have outlined ambitious oil and gas production targets, representing strategic areas for bilateral investment and cooperation

LUANDA, Angola, July 4, 2024/APO Group/ — 

Bruno Jean-Richard Itoua, Minister of Hydrocarbons of the Republic of Congo (ROC), has joined the Angola Oil & Gas (AOG) conference as a speaker. During the conference – scheduled for October 2-3 in Luanda – Minister Itoua will provide insight into emerging opportunities in oil exploration, gas monetization and LNG development, as well as potential areas for collaboration between the two countries.

Both ROC and Angola have set bold production targets, aiming to increase oil output to 500,000 barrels per day (bpd) and 1.1 million bpd, respectively. Both countries’ favorable investment climates have sparked the interest of a strong slate of E&P firms, with AOG 2024 set to not only support national oil and gas objectives, but also offer a platform for engagement in emerging cross-border projects.  

AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; national oil company Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute, the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

To support oil production, ROC is promoting investment in frontier exploration alongside incremental production from existing assets. The Central African country – with 1.8 billion barrels of proven oil reserves – has several upstream campaigns underway that aim to unlock new discoveries. Independent energy company Perenco, for example, completed 3D seismic surveys at the Tchibouela II, Tchendo II, Marine XXVIII and Emeraude permits in November 2023. Energy major TotalEnergies has announced plans to invest $600 million to drive exploration and production activities in the country, specifically through the development of the Moho Nord field. The field currently accounts for nearly half of total Congolese oil production, producing an estimated 140,000 bpd. The investment will support drilling operations in line with national targets to bolster output.

Meanwhile, ROC is committed to monetizing its gas resources through both associated and non-associated projects. The country reached a milestone in March 2024 with the delivery of its first LNG cargo to Italy from the Congo LNG development. As the country’s inaugural LNG facility, the project employed a fast-tracked approach whereby LNG was produced just 12 months after FID. By 2025, the Congo LNG project is expected to produce 2.4 million tons per annum, with ROC joining the likes of Angola as a major African LNG exporter.

Further supporting its gas monetization drive, ROC is making progress with the development of the Bango Kayo project. Set to reach peak oil production of 50,000 bpd, project developer Wing Wah is deploying an integrated approach to expand the project through multiple phases. The project will begin monetizing previously-flared gas to support the country’s industrial sector, serving as a model for other African oil producers including Angola, which is striving to maximize production from mature assets.

Minister Itoua’s participation at AOG 2024 not only speaks to the caliber of the event as the premier oil and gas conference in Angola, but creates new opportunities for bilateral collaboration in the fields of LNG production and oilfield development. Angola and ROC – both offering promising opportunities in offshore exploration and tie-ins to existing onshore infrastructure – represent highly attractive hydrocarbons markets, with the AOG 2024 conference set to connect global investors with prospective opportunities.

Minister Itoua will be joined by Maixent Raoul Ominga, Managing Director of the Congo’s national oil company Société Nationale des Pétroles du Congo at AOG 2024. For more information, visit www.AngolaOilAndGas.com.

Distributed by APO Group on behalf of Energy Capital & Power.

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Gazprom Joins African Energy Week (AEW) 2024 as Silver Sponsor, Driving Africa’s Gas Momentum

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2 days ago

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July 5, 2024

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Gazprom

Russian multinational energy corporation Gazprom will join African Energy Week: Invest in African Energy 2024, affirming its commitment to advancing sustainable and gas-focused energy solutions across the continent

CAPE TOWN, South Africa, July 4, 2024/APO Group/ — 

Russian multinational energy corporation Gazprom is spearheading a crucial refinery upgrade project at the Mossel Bay gas-to-fuel facility in South Africa – which advanced to feasibility stage last month – as part of efforts to support Africa’s gas monetization agenda and secure a reliable supply of refined petroleum products. As the world’s largest producer of natural gas, Gazprom will join African Energy Week (AEW): Invest in African Energy – taking place in Cape Town on November 4-8 – as a Silver Sponsor, bringing valuable insights and perspectives on harnessing Africa’s substantial gas resources.

For Africa, natural gas represents the key to achieving broad energy security and diversified economic growth. With over 620 trillion cubic feet (tcf) of proven gas reserves, the continent is seeking to ramp up gas exploration efforts, while establishing integrated, gas-based networks and downstream industries. Through new exploration campaigns, Nigeria is aiming to expand its gas reserves from 200 tcf to 600 tcf; Mozambique is spearheading development of the 18-million-ton-per-year (mtpa) Rovuma LNG and 13-mtpa Mozambique LNG facilities; and Algeria is driving production through a gas-boosting project at the Hassi R’Mel gas field. The 2.3-mtpa Greater Tortue Ahmeyim LNG project in Senegal and Mauritania anticipates first production later this year, while the Tanzania LNG project is set to produce 10 million mtpa once approval by the government is secured.

AEW: Invest in African Energy stands as the premier platform for project operators, financiers, technology providers, and governments, recognized as the definitive venue for sealing deals in African energy. For more information about this pivotal event, visit www.AECWeek.com.

Gazprom is consistently expanding its dialogue with African countries and stands ready to share its unique know-how and best practices

Gazprom’s expertise in gas exploration, production, processing and export positions it as a viable partner to Africa’s natural gas agenda. Last year, the company partnered with the African Energy Chamber (AEC) to host the International Gas Roundtable, an exclusive event highlighting the pivotal role of gas in stimulating economic development across the continent. The roundtable served as a unique platform to explore innovative strategies, exchange best practices and shape the future of gas development, providing valuable insights for both mature and emerging African gas producers.  

“Gazprom is consistently expanding its dialogue with African countries and stands ready to share its unique know-how and best practices in realizing mutually profitable energy industry projects with potential partners from Africa. Gazprom possesses all the necessary technologies and innovations capable to assist African countries in securing energy industry development based on the existing natural gas reserves, in decreasing the level of ‘energy poverty,’ and in improving the quality of life of the populations of African countries, as well as in resolving environmental problems,” states Dmitry Khandoga, Head of International Business at Gazprom.

Gazprom’s technical expertise in the gas sector demonstrates the potential for Africa to increase production and unlock new export markets. With projects like the Nigeria-Morocco Gas Pipeline and Trans-Saharan Gas Pipeline set to supply African gas to regional and European markets, Gazprom’s expertise is particularly crucial, as it operates a number of pipelines that deliver gas across the country and transnationally. The company deploys cutting-edge technologies in the design and maintenance of pipelines, such as the application of corrosion-resistant materials and automated monitoring systems, which increase the reliability and durability of gas infrastructure. At AEW: Invest in African Energy, Gazprom will share its expertise to foster collaboration with industry leaders, advocate for sustainable energy practices and forge partnerships that work towards Africa’s energy security and growth.

“Natural gas is a strategic tool in the fight against energy poverty in Africa. It represents a reliable, scalable and cost-effective solution for power generation and industrial growth. Gazprom’s technical expertise across the entire gas value chain – which makes it the world’s largest gas producer – provides a valuable blueprint for African nations looking to harness gas for domestic use and export,” states NJ Ayuk, Executive Chairman of the AEC.

Returning to this year’s edition of AEW: Invest in African Energy, Gazprom will bring a wealth of expertise in the exploration, production, transportation, storage, processing, and sales of gas, gas condensate and oil. By collaborating with industry leaders and African stakeholders, Gazprom aims to support the continent’s journey towards energy independence and sustainable development.

Distributed by APO Group on behalf of African Energy Chamber.

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