Finance:High-touch
High-touch refers to the involvement of personal attention and service.[1] In business, the term often refers to situations where trust between the customer and employed individual(s) is necessary.[2] High-touch areas include: medicine, wealth management, real estate, and legal.[2] Stock trading done by humans, as opposed to automated trading or using online brokers, is also referred to as high-touch.[3]
Origins
The term was coined in 1982 by John Naisbitt in his book Megatrends.[4] It was explored further by Naisbitt in his follow-up book High Tech/High Touch.[5]
In medicine
High-touch may also refer to the frequency in which a surface is touched.[6]
In pharmacology, high-touch may refer to medicines that require temperature control, ongoing drug management, or compliance monitoring.[7]
Related to High-Tech
High-touch was coined as a term in response to "high tech."[5] High-tech, as opposed to high-touch, is when customers don't need human interaction to perform activities such as onboarding, ordering, and account management.[8] High-tech services, such at chatbots, allow customers to get what they want on-demand.[8]
References
- ↑ "HIGH-TOUCH | meaning in the Cambridge English Dictionary" (in en). https://dictionary.cambridge.org/dictionary/english/high-touch.
- ↑ 2.0 2.1 Stewart, Karl Stark and Bill (2013-06-04). "Building a High-Touch Business". https://www.inc.com/karl-and-bill/building-a-high-touch-business.html.
- ↑ "Human high-touch trading is here to stay" (in en-US). Bloomberg Professional Services. 2017-05-11. https://www.bloomberg.com/professional/blog/human-high-touch-trading-stay/.
- ↑ "Definition of high touch" (in en). https://www.pcmag.com/encyclopedia/term/high-touch.
- ↑ 5.0 5.1 McDonnell, John. "Council Post: How To Offer A High-Touch Experience In A High-Tech World" (in en). https://www.forbes.com/sites/forbesbostoncouncil/2018/07/23/how-to-offer-a-high-touch-experience-in-a-high-tech-world/.
- ↑ Huslage, Kirk; Rutala, William A.; Sickbert-Bennett, Emily; Weber, David J. (August 2010). "A Quantitative Approach to Defining "High-Touch" Surfaces in Hospitals" (in en). Infection Control & Hospital Epidemiology 31 (8): 850–853. doi:10.1086/655016. ISSN 0899-823X. PMID 20569115. https://www.cambridge.org/core/journals/infection-control-and-hospital-epidemiology/article/quantitative-approach-to-defining-hightouch-surfaces-in-hospitals/47211D8DC5A1353B4C7910D6C415A234.
- ↑ "Specialty Pharmacy Drug List". 2015. https://magellanrx.com/member/external/commercial/common/doc/en-us/MRx_Formulary_Specialty.pdf.
- ↑ 8.0 8.1 Williams, Howard. "Do Customers Want High Tech or High Touch?". https://homebusinessmag.com/sales/customer-service/customers-want-high-tech-high-touch/.
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