Many organisations strive to be customer-centric, putting their customers at the heart of their business. Indeed recent research from Experian highlights that 43% of consumers will buy more from a brand that understoods them and their engagements and treats them accordingly.
Given the ongoing economic squeeze on many households, tolerance, convenience and security are now the three critical issues and of acute importance for retailers and ecommerce sites.
The dilemma faced is epitomised by three separate findings made by Experian. On the one hand online shoppers will tolerate up to four minutes of checks before abandoning their transaction. But despite ecommerce’s relative convenience, it is estimated that more than £1 billion worth of online transactions were abandoned as customers got frustrated at delays.
The recent momentum in labour market trends is rapidly easing in line with our expectations. While today’s labour market release still shows a rise in employment in the three months to October, the magnitude of this increase (of 40,000) is disappointing compared to earlier rises of 100,000 and 212,000 seen in the three months to September and August, respectively.
New research from Experian reveals that some of the most affluent sections of society owe millions of pounds in unpaid council tax.
Experian has analysed £170 million of outstanding council tax debt owed to a broad range of rural and urban local authorities across England. The analysis revealed that 17 per cent (£28 million) is owed by people from the most affluent sections of society. When applied to all outstanding council tax in England last year, (£600m), the research suggests that almost £100m is owed by the most affluent sections of society.
The face of lending is changing noticeably. Since the credit crisis of 2007, managing risk is high on the agenda and banks are rightly tentative about extending credit. New regulations imposed by the Financial Services Authority (FSA), mean that lending has to be even more responsible with greater focus on affordability and selling the right products. The multitude of alternative lenders on the scene means that customers have more choice in their borrowing – they’re easily provided with quick decisions and flexible products to bridge short-term gaps.
Experian has unveiled a new contract with media giant Sky to help it refine its prospect marketing strategy and grow the size and quality of its client base.
Find out how, where and when you may be at risk from fraud. It’s a multi-million pound industry that could cost you dearly.
The Chancellor again faced a challenging background in presenting his Autumn Statement today as a stagnant economy over the past year shifted his deficit reduction strategy further off course. Missed targets meant that, as in last year’s Statement, the austerity programme has been extended to allow room for manoeuvre in boosting the flagging economy.
With your customer’s budgets under increasing strain and household debt levels running at over £2 billion* it is essential for you to optimise your collections activity.
The latest white paper from Experian examines the need for flexible and agile collections solutions that manoeuvre you through the changing economic landscape and help you engage more successfully with customers.
Our new white paper offers a simple ten-step guide to improving your collections strategies including:
Experian predicts there will be a dramatic increase in attempted mortgage fraud in the UK next year, bringing the number of people fraudulently trying to obtain home loans to the highest level since records began in 2009.
