In this scenario, email is used as the only form of interactivity. So while the Internet promises to change the way people live their lives, very few companies are taking advantage of new capabilities on the Net to better their business practices. But for those corporations that are pioneering the shift to a more interactive Internet experience, the Internet is offering a new dimension, not just with the possibility of electronic commerce, but a way to enhance their relationship with their customers. The fact is that the Internet offers a direct channel into the homes of customers, and more importantly, a way to let customers help themselves. Corporations save money on operational costs since their customers can now get the information they want off the Web site instead of calling into call centers or hotlines.
Customers also benefit by having an around the clock service center at their fingertips.
Banks already know this, and many are hoping to move more of their customer service online. It is estimated that a customer visiting a retail branch costs the bank as much as 10 times more than a customer who helps themselves at the Automatic Teller Machine. Customers are also proving that online is better than the real thing. In Singapore, Citibank, with less than a handful of branches, has managed to capture some 70,000 retail accounts by allowing customers to carry out transactions over the Internet. Online benefits Despite the fact that public utilities are not known for their techno-savviness, Hong Kong's natural gas supplier is paving the way in the adoption of the Internet.