A Personal Bank Story: How to Win, and Lose, a Bank Customer
eglobalis
JULY 13, 2023
A Personal Bank Story: How to Win, and Lose, a Bank Customer The post A Personal Bank Story: How to Win, and Lose, a Bank Customer appeared first on Eglobalis.
Customer Retention Strategies for Banks: Customer Experience is Key
ReviewTrackers
MARCH 24, 2021
Bank Customer Retention: Why It Matters. You’ve probably heard this more than a dozen times: retaining a customer is so much cheaper than acquiring a new one. This holds true for banks and financial services providers, too. times higher than banks at the lower end of the index, their share of deposits is 1.9
Banking 
123
123 Join 40,000+
Insiders
Sign Up for our Newsletter
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Trending Sources
2023 Banking Outlook: Mid-Year Update
West Monroe
JULY 30, 2023
In our 2023 Outlook: The Future of the Banking Industry , we anticipated murky waters and a rising need for the use of digital solutions to better evaluate profitability, identify key customer touchpoints, and work to prevent deposit outflows and overconcentration. This urgency has only increased.
Banking 52
52 
[Experience Action Podcast] CX Pulse Check – March 2024
Experience Investigators by 360Connext
MARCH 26, 2024
Unlock the future of customer experience as I, Jeannie Walters, team up with Greg Kihlström from the Agile brand to dissect the fascinating blend of strategy and technology that’s shaping how we interact with businesses today. Will this approach truly empower customers or is it merely a stepping stone to a fully digital future?
2024 178
178 
2015 Brand Ambassador Award Winners: Lessons in Customer Centricity
PeopleMetrics
JULY 14, 2015
PeopleMetrics is proud to recognize its fifth-annual Brand Ambassador Award Winners. These individuals received the most customer recognition through PeopleMetrics customer experience software in 2014, proving their consistency in going above and beyond to deliver for customers. Three Qualities of Brand Ambassadors.
How Consumer Banks Will Survive This Recession
2020 Research
AUGUST 26, 2022
The Looming Economic Storm: How Consumer Banks Will Survive This Recession. Schlesinger Group surveyed more than 3,000 customers of the 20 leading financial institutions in the U.S. Explore our five key findings from the 2022 US Banking Industry Loyalty Report, created in collaboration with Apex Scoring System.
Banking 52
52 
The Role of NPS in the Banking Industry
SurveySensum
MAY 19, 2023
Customer loyalty and satisfaction are crucial when it comes to banks. More than often, customers are attracted to banks that value them and offer good service. But when every bank strives to achieve the same, how can you get a competitive edge? How to use NPS in banking and financial services?
Banking 52
52 
Defining the Value of Customer Experience: A Guide for Creating CX ROI in A Constantly Changing World
Experience Investigators by 360Connext
APRIL 23, 2024
Leading customer experience efforts within a larger business strategy can offer a blueprint for fostering customer loyalty, enhancing customer (and employee) retention, and ultimately, driving brand loyalty. Understanding Customer Experience Management (CEM) Let’s start at the beginning.
ROI 260
260 
Customer Retention in Banking: Strategies to Get You Started
ReviewTrackers
APRIL 1, 2019
Bank Customer Retention: Why It Matters. You’ve probably heard this more than a dozen times: retaining a customer is so much cheaper than acquiring a new one. This holds true for banks and financial services providers, too. times higher than banks at the lower end of the index, their share of deposits is 1.9
Banking 89
89 
What Customer-Centric Companies Must Do To Become Customer-Obsessed
Beyond Philosophy
JULY 5, 2015
In building relationships with customers, and value for them, my long-time observation is that most organizations tend to progress through several stages of performance as they are becoming truly customer-centric: a) customer awareness, b) customer sensitivity, c) customer focus, and d) customer obsession.
4 key barriers to challenger brand growth; a focus on retail banking
Maru Group
OCTOBER 24, 2018
According to the latest finance results from Maru/edr , reliability and trust remain the two main drivers behind consumer banking choices. It means that customer loyalty within the finance industry is almost an oxymoron – customers stay with their banks out of necessity and convenience rather than any genuine affinity to a banking brand.
Banking 40
40 
How AI Customer Experience Can Advance Your Business Strategy
InMoment XI
NOVEMBER 20, 2023
It involves harnessing advanced technology, specifically artificial intelligence and machine learning, to enhance the way businesses connect with their customers. It goes beyond the traditional methods of customer feedback analysis, offering a sophisticated approach that enables brands to stay ahead in an intensely competitive landscape.
The Bank Executive’s Agenda: Differentiating Their Bank in a “Me-Too” Marketplace
Integrity Solutions
AUGUST 19, 2019
In a complex, highly competitive marketplace, bank leaders and managers who make it a priority to create a culture that is built around understanding what the customer needs and values—and the mindset necessary to deliver on it—will have the advantage. The Rise of Technology in Banking: A Double-Edged Sword. By Donna Horrigan.
Banking 46
46 
Is Your Financial Services Brand Measuring Its Customer Experience?
Second to None
AUGUST 16, 2018
Creating an excellent Customer Experience has become a major differentiator across most industries, but is especially impactful in the financial services space. Nowadays, creating a great experience requires more than training employees to provide exceptional customer service. 1] [link]. [2] 2] [link].
Financial 59
59 Customer Service Trends 2018: Creating Effortless Customer-Centric Experiences
Kayako
JANUARY 24, 2018
I’d purchased flights through a popular comparison site only to find double charges in my bank account. Did my bank have an error? I got my answer in the end (and my refund), but it wasn’t an ideal way to spend the first hour of my Sunday morning or my first customer service transaction this year that stressed out.
Best Practices for Customer-Centric Decision Making
PeopleMetrics
MARCH 1, 2017
As we mentioned in an earlier section, our research found that adhering to a decision-making process that considers the impact on the customer is one of the practices that separate growth banks from non-growth banks. Each of these promises should extend to a different customer experience. Know our customers."Listen
Build Successful Brand Communities at Scale
2020 Research
AUGUST 29, 2022
11, 2022, on how to build successful brand communities at scale. This can be done through a branded insight community (IC). A quantitative insight community (IC) enables customer-centric brands to create a continuous flow of deep customer insights. What are Some Examples of Brand Communities? .
Brands 52
52 
Building a fintech ecosystem: Why customer experience should come first
Alida
DECEMBER 1, 2016
If banks weren’t already feeling the pressure from financial technology (fintech) startups, they should be now: Fintech companies are officially mainstream. Half of banking customers around the world now use at least one product or service from a fintech firm. . Establishing a customer-centric culture.
Connecting People: The Key to Customer Centric Leadership
ijgolding
JULY 25, 2017
Two years later, I moved on to my second role, a promotion into one of the UK’s biggest corporates – The Royal Bank of Scotland (RBS). I worked for a division of RBS called Royal Bank Invoice Finance. I have written many times before about my view of Jack Welch and his brand of ‘transformational leadership’. I was delighted.
Customer Centricity Masterclass with Doug Leather
Peter Lavers
JULY 7, 2015
“Customer Centricity is the eco-system and operating model that enables an organisation to design and deliver a unique and distinctive customer experience”. Metro Bank “stupid bank rules”). Do we ask customers if they think we’re agile? The dangers of “firing” customers. Doug Leather. Execution Layer.
Communication — Essential to Creating and Sustaining a Customer-Centric Culture
ijgolding
JUNE 14, 2017
Over the last few months, I have been exploring in detail my perspective on seven ‘tips’ that will enable any organisation to become genuinely customer centric. If you have an aspiration to lead or be part of a sustainably customer centric organisation, then you must master the art of COMMUNICATION! “If
How to Evolve Banking Customer Experiences for Survival
PeopleMetrics
APRIL 28, 2015
This was the terrifyingly binary challenge Joe Sullivan , CEO of Market Insights delivered to a group of banking execs last Friday at the N.J. Joe shared some statistics that would make less-intrepid bank executives contemplate a career change. Customer loyalty and customer retention are at risk.
Banking 79
79 
Unlock the Secrets of Customer Service Excellence: Who’s Winning and What’s Broken?
CSM Magazine
MAY 16, 2024
Helen Wilson, Chief Operations Officer at Atom Bank; Heather Drinkwater, Head of Operations at Benenden Health; and Joe Quinliven, Head of Customer Care at Gousto, all shared their wisdom as contact centre and customer service leaders. As Helen from Atom Bank put it, “We had a very clear strategy from day one.”
Leveraging the Power of CRM to Create Extended Loyalty for Your Bank
West Monroe
MARCH 27, 2017
As of September 2016, there were 5,980 FDIC-Insured banks in the United States. While this number dropped from 6,270 FDIC-Insured banks in September of 2015, total assets actually increased from $15.8 As the banking consumer grows more loyal, they no longer use multiple banks for their various financial services needs.
Banking 40
40 
I am Brand: Q&A with Americus Reed II, Professor of Marketing, The Wharton School
C Space
FEBRUARY 12, 2020
I am Brand: Q&A with Americus Reed II, Professor of Marketing, The Wharton School. When a customer is identity loyal, any competitor has to ask your customer to change who they are. Loyal in how the brand that communicates something about me that’s deeply personal and deeply emotional. Americus Reed II.
Brands 52
52 
Role model customer centric leadership: why I am a huge fan of Jeff Bezos!
ijgolding
MAY 17, 2017
Although I have never met him, or worked for his company, perhaps my biggest business hero of all – especially from a customer experience perspective, is the founder of Amazon, Jeff Bezos. Creating one of the most customer centric brands on the planet is obviously a major reason why. That’s approaching evil.
Why Customer Experience is Better Than “Brand”
PeopleMetrics
FEBRUARY 20, 2015
I’ve written about the relationship between customer experience and brand before, but I think it’s an important topic to think about. So let’s go over three reasons why I think it''s better to focus on customer experience than brand. Customer experience is tangible. Customer experience is human.
Brands 79
79 
5 Creative Ways to Use AI for Sentiment Analysis
Lumoa
DECEMBER 19, 2023
Here are three examples of AI applications in unveiling market trends: Social media sentiment analysis : Some AI-powered tools can analyze social media conversations and identify trends and shifts in customer sentiment related to specific products, brands, or industries.
Social Media 83
83 
Top 5 Customer Service & CX Articles for Week of January 8, 2024
ShepHyken
JANUARY 7, 2024
Deloitte Shares Loyalty Trends and Best Practices for 2024 by Alicia Esposito (Retail TouchPoints) To drive customer retention and loyalty, most brands and retailers continue to rely on purchase discounts (77%) and loyalty program points (61%), according to Retail TouchPoints research. I’m often asked to define customer centricity.
2024 67
67 
How to Think Like a Service Brand and Take the Lead
CSM Magazine
APRIL 23, 2021
Cierra Dobson, strategy director at design and technology agency, Rufus Leonard , explores how brands of all shapes and sizes can adopt the successful strategies of category-defining service brands to grow their market share and take the lead. The strength and resilience of service brands.
Brands 52
52 
5 Rules That Absolutely Build Customer Loyalty
Beyond Philosophy
OCTOBER 7, 2021
However, customer loyalty necessitates thinking long term. Wells Fargo is a big retail bank in the U.S. The damage to the brand was even worse than the fines. Do you take their customers for granted? Customer-centric organizations do not. Remember the Wells Fargo debacle? But it didn’t last.
Loyalty 172
172 
Tips To Ace Personalized Customer Experiences Like Industry Leaders
SurveySparrow
JUNE 28, 2023
The true essence of a personalized customer experience lies in tailoring the individual’s journey with your brand to meet their specific needs and expectations. Personalization is no longer a mere option but an imperative for businesses in today’s customer-centric world.
Top 4 Customer Experience Trends for Financial Services to Expect in 2022
Comm100
DECEMBER 2, 2021
Writing for Financial IT , Hans Tesselaar states that, “In 2022, banks will have to focus on overcoming the extensive use of legacy technology which prevents them from bringing new services to life.”. According to a recent survey, 50% of banking consumers want a seamless mix of physical and digital services during their buying journey.
Financial 94
94 
Your CX Playbook for Financial Services
Kustomer
JUNE 7, 2023
This interaction is often initiated by the customer rather than the company, such as when a customer reaches out to a bank or a financial services organization with a question about a service (budgeting tools or spending trackers) prior to enrolling in that service. What Is a CX Playbook?
Financial 98
98 UK Scores Fall Whilst U.S. Rise – What’s The Problem?
Beyond Philosophy
DECEMBER 19, 2017
Per the 8th annual “ Customer Experience Excellence Study” published by KPMG Nunwood, shows that Customer Experience in the UK is lagging. Ten-thousand respondents ranked brands’ Customer Experience based on six categories. Per the report, brands in the U.K. Per the report, brands in the U.K. Resolution.
2002 153
153 
The State of Customer Experience in Financial Services: Where Do We Go From Here?
CSM Magazine
NOVEMBER 10, 2022
Financial services leaders are increasing their focus on digital-first initiatives to optimize the customer experience and increase retention and loyalty – a trend that emerged out of pandemic necessity and became a preference that is here to stay. Optimizing Digital-First Customer Engagement.
Financial 52
52 
Driving CX transformation within the C-suite
Alida
JULY 16, 2018
S haped through a national campaign “ What matters to you, matters to us” to understand what Australians expected of Australia Post, Australia Post created four resounding customer commitments, which can be found in every post office and part of the business: Seamless customer experiences, especially the parcel delivery experience (92% people care).
Unlocking the Benefits of Specialized Training Companies for Online Professional Development Programs
CX University
AUGUST 1, 2023
A multinational retail corporation, Company XYZ, sought services from CX University to improve their customer experience and meet key performance indicators (KPIs). CX University conducted an in-depth analysis of a recent client, United Bank for Africa (UBA). I highly recommend it.
Banking 52
52 
C Space announces winners of inaugural Better Why Awards, Merck, McDonald’s, Logitech, ATB financial and Mars Food all scoop prizes
C Space
OCTOBER 8, 2021
A host of prestigious judges, from brands including LEGO, Google, SAP, Truist, General Mills and Insights in Color, selected the winners based on their ability to generate insights that change the world of business, transforming customer insight into strategic advantage.
Financial 69
69 
Getting Your Board to Embrace Customer Experience, With Maury Kask – CB72
Customer Bliss
OCTOBER 10, 2017
As Senior Vice President, Consumer Operations and Chief Customer Experience Officer (CXO), Maury is responsible for overseeing our end-to-end customer experience and the execution of customer-centric strategies to enhance customer loyalty and business growth. We’ll get into further detail later: Brand.
Book Review – On Purpose – Delivering a branded customer experience people love
ijgolding
SEPTEMBER 21, 2015
As recently as June 2015, I wrote a review of the new offering from Chief Customer Officer ‘guru, Jeanne Bliss – (Chief Customer Officer 2.0) The book has been designed to specifically do the following: ‘Inspire’ – through the sharing of stories and their underlying customer centric philosophy.
Books 91
91 
Authenticity Matters: Why Should You Stop Gaming the NPS Score
SurveySensum
DECEMBER 22, 2023
Recently, I contacted the customer support of an electronics brand to address an AC installation issue. However, these manipulated scores don’t reflect actual customer sentiment, resulting in misguided investments that will not align with genuine customer needs. Want to launch NPS Surveys the right way?
NPS 52
52 
Lessons for How to Swim in a Blue Ocean from the Girls Auto Clinic
Michelli Experience
JANUARY 24, 2017
Often entrepreneurs reach out to me to discuss “customer-centricity” and the likely viability of their innovative products or services. If you spend some time at the Girls Auto Clinic website you’ll get a more detailed sense of what you can learn from the brilliance of its founder, Patrice Banks.
2005 111
111 
10 Inspirational Customer Experience Examples
Help Scout
JUNE 17, 2021
We’ve all read those great customer experience stories that make us feel awed and admiring, but some of those stand-out examples can be misleading. While they certainly jerk at the emotions and evoke a sense of wonder for the brand, they usually end up drawing attention because they are so far outside of the norm.
Let's personalize your content