What must brands do with the evolving customers expectations on cashless service?


Business people (start-up) are responding massively to disruption. Young people, the newcomers, rush to grasp the opportunity to build a technology-based business that solves solutions to various problems. But let’s take a second look, what’s actually triggered the newcomers? Newcomers responds to the customers' behavior.


Technology has always been named a disruptor in today's era of disruption. In fact, the biggest disruptors in this disruption era are us, customers with various shifting behaviors such as needs and experiences that always demand new solutions and conveniences. For example, when we have to take care of many bills when the agenda is full of important meetings. We then often hope that there are applications or tools that can complete the task of paying all bills; while we’re still able to hold important meetings.


The question that departs from these constraints and complaints is what prompted the newcomers to create a solution: to meet the needs of transactions quickly, easily, and can be done remotely. The creation of an e-payment application with the Bill Check and Pay-Free feature answers our needs as customers. Slowly but sure, brands that succeed in offering the best service will also enhance our behavior in transactions.


Infinite Cycle of Response and Behavior


In the process, it will be quite difficult to differentiate between the behavior and the cashless brand and the e-payment application in response. The relation that occurs is infinite cycle; they affect each other so that it cannot be determined exactly which one first influences. Brands are here to respond to behaviors that tend to prioritize all-at-once practical services. Then when customers have become loyal, the brand has the potential to lead to new behaviors.



How do brands do it? Brand strengthens its positioning by offering the features that are the fastest and right to answer customers' needs; the best selling feature when this article was written was various reward points and ease of cross merchant transactions. This is where competition occurs between old and new players. Between incumbent brands (such as conventional banking) and newcomers such as fintech which on the one hand grow a cashless culture in the community.


We agree that customers are the biggest disruptor. This is driven by external and internal factors. Changes in lifestyle shopping from comparing at several merchants to making purchasing decisions occur very quickly. Customers' behavior can change in just minutes after the process of comparing prices and quality with other superior products. But for brand owners, change cannot be that easy. Brands need to change the course of a bigger ship, which is harder.


In the past, when we wanted to transfer, there was no m-banking and internet banking, we had to find the nearest ATM outlet. Buying pulses can be complicated. When the era has shifted with m-banking and internet banking but the system has not been formed, we still find it difficult to implement integrated payments for various bills. But now, all transaction needs can be all-in in one application, such as: Gopay from Gojek, Akulaku, and OVO.


Disruptive era closely with the collaboration model. The business owners who still rely on their own strength and are reluctant to collaborate will be easily eliminated. Collaboration exists not only among fellow brands but also between brands and customers. Many customers meet and have a positive influence on each other. Brand people and customers collaborate almost without boundaries. The emergence of Gojek and brand sharing transportation accommodates the collaboration of customers. After starting with the Nebengers community or the Ojek community, the startup business initiates develop customer activities with a system that is integrated by technology.


Customers Centricity is Critical


To respond the current customer demand about what can brands do? Technology-collaboration and human elements are the answer. Brands needs to always respond to what the customers need with human-based innovation. In the arena of the new business world with new media, the human element in business always gets value. Future customer-relationship does not mean eliminating human touch, but integrating human and technology; seek a human connection. In the context of a brand for cashless service, the biggest challenge remains to maximize touchpoints to bring about a sense of humanity. Some of them are integration of features with other innovations (customer service) or collaboration with other brands (cashback and reward points).




This chart illustrates that all brands can adopt the concept. Not only in the field of cashless service but for all business fields in this digital-human era to establish the customer lifestyle.


When the description at the top is getting clearer, it's also clearer to the bottom. Today's modern customers hope to be able to get a variety of added values ​​such as the ease of transactions with cashless service, cashback offers from various merchants, and reward points from brand collaboration. The pyramid model above shows relevance in the form of: all-in-once service, fast, integrated, safe system, discounted prices, and various other conveniences. All are summarized in various touchpoints. Then where is the role of technology? Technology plays a role in presenting features that become enablers for human connections. This is where disruptions will lead to customer loyalty and customer devotion. Achieved a fundamental goal, namely (re) solving the issues, does not stop as simple as working on everything digitally.