News By Tag
News By Place
Run frictionless identify seven levers of frictionless customer experience
Organizations that target these seven indicators are more likely to reach double-digital growth.
Two of the seven indicators were reported in 2000 by Brynjolfsson and Smith's. In an MIT paper titled A Comparison of Internet and Conventional Retailers, Brynjolfsson and Smith explained that the internet is not the frictionless medium we all expected.
"We conclude that while there is lower friction in many dimensions of Internet competition, branding, awareness, and trust remain important sources of heterogeneity among Internet retailer," says Brynjolfsson and Smith.
In other words, brand and credibility are 'levers' organizations can use to reduce friction and differentiate online.
In addition to Brynjolfsson and Smith's brand and credibility levers, research by run_frictionless uncovered another five, bringing the total count to seven levers of frictionless customer experience.
Christerine Ooi, Head of Researcher at run_frictionless, explains, "These levers have high correlations and inverse relations to sales efficiency formulas". Here they are in no particular order: firestarters, credibility, branding, product knowledge, product augmentation, response time, and customer profiles.
In 2016 run_frictionless ran a friction test on several payment businesses in SouthEast Asia. Using these seven indicators, they were able to appropriate a friction index to each competitor. The higher the index, the greater the friction.
According to Christerine Ooi, breaking down friction into individual indicators makes it easier to measure friction. "It is prudent to focus on the next most cost-effective step that will create the most impact. Friction ranking provides insight to the lowest hanging fruit while inspiring us with market potential."
More about the seven indicators of friction is published on the run_frictionless website. Visit https://bit.ly/