Dubai Chamber launches Customer Excellence Award
The first cycle of the Mohammed Bin Rashid Al Maktoum (MRM) Customer Excellence Award was officially launched on Monday at the MRM Business Conference in Dubai.
The event also saw the launch of the 11th cycle of the MRM Business Award and the third cycle of the MRM Business Innovation Award. Applications for all three awards are now open to companies of all sizes, types and sectors that are based in the UAE and wider GCC region, and should be submitted through the Dubai Chamber website.
Organised by the Dubai Chamber of Commerce and Industry, the conference brought together several experts to talk about evolving customer experiences in the digital age, as well as the best practices and effective strategies for improving customer retention and loyalty.
"Consumers are changing and raising their expectations as they have more choices than ever before, and they are also demanding better experiences across both online and offline channels," said Majid Saif Al Ghurair, Chairman of Dubai Chamber of Commerce & Industry. "The growing use of smartphones and the rise of e-commerce are driving this trend and placing the burden on businesses to deliver experiences that keep customers coming back."
He added: "Companies must ensure that they are ready for this digital shift and have the right systems in place to keep pace with new technologies. At the same time, they should be careful about not losing the human touch as digital systems take over more business functions. Businesses that have been successful at improving their customer experiences are seeing far-reaching benefits such as lower costs, better loyalty and higher revenues."
Edward Zhou, VP of Global Public Affairs at Huawei, explained how customer-driven innovation systems can help companies can utilise the latest technologies to deliver better customer experiences. According to Zhou, investing in effective research and development strategies and continuous innovation is crucial to meeting customer needs, which are changing rapidly amid the emergence of new technologies.
"We are focused on continuous investment on innovation for sustainable growth," he said. "R&D investment accounts for about 10 per cent of annual revenue, and 10 per cent of that investment is for fundamental research. Our mission is to bring digital to every person, home, and organisation for a fully connected intelligent word."
Farhan Syed, partner, and head of Digital and Innovation at KPMG Lower Gulf, noted that advanced technologies are reshaping customer experiences which are creating new opportunities and challenges. He also spoke about the importance of embedding customer experience into organisational cultures, adding that strong buy-in from leadership is crucial to making this work. "Profit is an output that will arrive when the input is right - in this case, the input is great customer service."
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