On 28 December, a $900 billion pandemic relief bill was signed into law, which included enhanced unemployment benefits and direct cash payments. The immediate effect for financial services companies was an increase in customer inquiries, placing a large and unplanned burden on customer support teams, with some companies citing volume increases of over 1000%... yes 1000%.
Among the many impacts of the pandemic on economic life has been the need for brands and customers to figure out how to better interface with one another from a distance. In the short term this usually meant greater reliance on phone and chat-based interactions, however in 2020, the world quickly learned that these services - typically delivered via tightly packed contact centers - were themselves untenable.
The Experience Economy was in full effect, with 76% of consumers agreeing they would rather spend money on experiences over material items. But almost overnight, the pandemic upended this. Consumers now seek out brands who use technology to make their experiences with products and services seamless and contactless, while still retaining a human touch. We are entering the virtual experience economy.
Historian Yuval Harrari told Noema Magazine in June that the world is going to be “fluid and malleable”. As we draw near to the end of 2020, this remains true. Organizational resilience continues to be contingent on employing mindful risk mitigation strategies while retaining an entrepreneurial spirit.
Everise is an international customer experience brand, elevating over 500,000 interactions per day, from our sites in six countries on three continents. These strategic global locations are key to making the successful delivery on our brand promise a possibility.