The first cycle of the Mohammed Bin Rashid Al Maktoum (MRM) Customer Excellence Award was officially launched earlier today at the MRM Business Conference in Dubai which also saw the launch of the 11^th cycle of the MRM Business Award and 3^rd 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.

The conference, entitled The Experience Economy: Delivering an Unparalleled Customer Experience for Long Term Growth, put the spotlight on evolving customer experiences in the digital age and featured several informative presentations from industry experts covering best practices and effective strategies for improving customer retention and loyalty, as well as key consumer trends and case studies from companies that have seen success in this area.

Organised by Dubai Chamber of Commerce and Industry, the conference was attended by key stakeholders from the public and private sectors, including members of the business community who expressed interest in applying for the awards.

In his keynote address, H.E. Majid Saif Al Ghurair, Chairman of Dubai Chamber of Commerce & Industry stressed the importance of investing in the right strategies and technologies that enable businesses to build a real connection with their customers and deliver seamless experiences across online and offline channels.

“Creating and delivering exceptional customer experiences is no longer just an option but a necessity for businesses and organisations operating in all industries. By enhancing customer experiences, companies can reap far-reaching benefits and drive sustainable business growth,” said H.E. Al Ghurair.

“With this in mind, we decided to launch the MRM Customer Excellence Award as part of our efforts to recognise outstanding companies optimising their customer-oriented practices and delivering world-class customer experiences,” H.E. Al Ghurair added.

During his presentation, Mr. Farhan Syed Partner, Head of Digital and Innovation KPMG Lower Gulf Limited, examined key trend and advanced technologies reshaping customer experiences which are creating new opportunities and challenges. He also spoke about importance of embedding customer experience into organisational cultures, adding that strong buy-in from leadership is crucial to making this work.

Speaking on the topic of customer-centricity, Adrian Terron, Head of Customer Centricity Tata Group, shared his insights on how companies can build a strategic blueprint to boost their competitive edge and achieve positive customer experiences in the era of disruption. He underlined the importance of building trust with customers, and pointed out that a recent Edelman survey found that 81% of consumers consider trust in a brand to essential to purchasing decisions; however, added that only 30% of respondents actually trust the brands they buy.

For his part, Edward Zhou Vice President of Global Public Affairs 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.

The conference concluded with an interactive panel discussion which saw the above-mentioned speakers shared their perspectives on how organisations can win customers and sustain growth in the experience economy.  

A member of the Mohammed Bin Rashid Al Maktoum Global Initiatives, the MRM Business Award was initiated in 2005 to recognise and celebrate the success of organisations that contribute to the sustainable economic development of the UAE and the wider GCC region. The MRM Business Innovation Award, launched by Dubai Chamber in cooperation with the UAE Ministry of Economy in 2015, aims to encourage companies across the GCC to embrace innovation. The award places a strategic focus on transforming business models to meet current and future challenges.