PCM vol. 3 Issue 9

More documents

Recommendations

Info

THOUGHT LEADERS CORNER Georgina Nelson Founder & CEO of TruRating Georgina began her career as a leveraged finance lawyer at Clifford Chance. Georgina then joined Europe’s largest consumers’ association, Which? where she was responsible for advising the EU and the UK government on their technology strategy, as well as advising internal teams on their online propositions. It was in this role where she identified a market need for mass, representative, reliable consumer ratings. She saw how this need could not only serve to improve the world of business but also be valuable to consumers alike. With this vision, she set about realizing the huge potential of TruRating by bringing together a wonderful team, exciting customers and partners in the payments industry with the ultimate objective to bring the truth back to ratings. This is where TruRating can help. It gives merchants the opportunity to ask a single question at the point of payment, and the ease and simplicity of this method of data collection means they are seeing response rates of up to 88%. This level of data, which is available in real-time and, crucially, links sentiment to spend, is providing retailers access to insights that have never before been available. We’ve achieved over five million ratings for our customers, and in doing so have learned a great deal about how gathering customer data can be used to drive changes within the business. Changes that make customers happier, and it may sound obvious but it bears emphasizing: happier customers spend more. Our data shows that retail customers who are impressed by their overall in-store experience spend a whopping 43% more on average that those who are disappointed. In a more specific example of how this data can be used to make positive changes, one of our clients asked their customers to rate their product range. In response to their findings, they changed not the range itself but simply the way that the range was displayed, with new promotional displays and a change in layout. This resulted in happy customers spending 12% more – a fantastic return on a very simple and inexpensive investment. Success stories like the above are one of TruRating’s biggest goals – to equip our customers with the means to improve, by empowering their customers to speak to them using the POS. Our win at the RetailNOW ‘Shark Tank’ challenge is perhaps reflective of the industry’s interest in technologies that enable them to provide the experience that answers – and exceeds - their customers’ expectations. Outgoing RSPA Chairman of the Board Tom Reichart said at the show, “The retailers who are changing are those who are winning.” But the key to success also needs knowledge of which changes are going to be the right changes – otherwise you’re just gambling. The payment industry has the potential to be a significant partner in helping the retailer identify those key success factors, by unlocking access to unprecedented levels of data and customer insights. TruRating TruRating is the first mass point-of-payment consumer feedback system, providing accurate ratings from 88% of validated customers. By asking one anonymous question via the payment terminal, TruRating enables every customer to instantly feed back on an aspect of their experience. Businesses benefit from timely insight that links sentiment to basket data. 8
- NEVER JUDGE A BOOK BY ITS COVER - When successful anti-fraud risk manager, Edoardo Fiorentini is approached and asked to help find a way to carry out a fraud successfully, it is the beginning of a journey into the secretive world of e-commerce fraud with some astonishing outcomes.
Page 1 and 2: Vol 3. Issue 9 | September 2017 YOU
Page 3 and 4: Contents STORIES 4 PSD2, from a ret
Page 5 and 6: THOUGHT LEADERS CORNER Frédéric M
Page 7: THOUGHT LEADERS CORNER RetailNOW Re
Page 11 and 12: THOUGHT LEADERS CORNER Edoardo Fior
Page 13 and 14: EXPERT INTERVIEW Accelerating Digit
Page 15 and 16: EXPERT INTERVIEW PCM: What are your
Page 17 and 18: STARTUP SPOTLIGHT Nichole Montoya,
Page 19 and 20: Payment Collective To get a more co
Page 21 and 22: PAYMENT COLLECTIVE PSD2: Challenges
Page 23 and 24: WORKSHOPS Payment Services Directiv
Page 25 and 26: Executive Profiles In this BRAND ne
Page 27 and 28: EXECUTIVE PROFILES OB continously f
Page 29 and 30: SPECIAL FEATURE Can we bridge the A
Page 31 and 32: SPECIAL FEATURE Fintech Battle: Pol
Page 33 and 34: EVENTS Events Dubai, UAE Revolution
Page 35 and 36: EVENTS 26-27 Dubai, UAE You are abo
Page 37: Take Your FinTech Career To The Str

PCM vol. 3 Issue 9

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?