Banks face more competition than ever before to attract and retain new customers. A new era of online retail experiences means customers have elevated expectations traditional banks often fail to meet.
This wouldn’t be such an issue for banks if they didn’t also face increasing competition from non-traditional players in the financial services industry. These players focus on the customer experience, while banks fail to do so.
http://customerthink.com/how-to-improve-customer-experience-in-banking/
STORIES of businesses leveraging technology to boost efficiency have prompted customers to develop higher expectations from the brands they engage with.
More than anything, customers expect a seamless journey and a personalized experience when they interact with a brand.
Identifying customers’ expectations and delivering on those expectations, is undoubtedly an integral part of business, especially now, in the digital age.
http://techwireasia.com/2019/12/cvs-directs-its-digital-journey-towards-elevating-customer-experience/
With all the focus on how AI, data, personalization and more can create a better customer experience, I thought it might be fun to go back to some basics and look at different ways we can connect and build better relationships with our customers. These are very tactical. Find one or two that you like and work them into your process. You’ll be surprised at how quickly the little things add up to increase your customer satisfaction, NPS scores and, more importantly, your bottom line.
http://forbes.com/sites/shephyken/2019/12/08/20-ways-to-create-an-amazing-customer-experience-in-2020/#73a5dbe04109/
The West seems to have a rather fascinating obsession with the individual. We write our addresses starting with a person and expand out until we get to a world view, which makes little sense when you consider that anyone functionally using that address must read to the end to even know where to start. This is a pattern we see in many things — from the way we tell stories to the way we design infrastructure and services. So naturally, it's through this lens that brands often solve customer experience challenges.
http://forbes.com/sites/forbesagencycouncil/2019/12/06/what-western-brands-can-learn-from-china-about-customer-experience/#1ac6fe5d3044/
Zion Armstrong, president of Adidas North America, joins Cheddar to discuss the company's solid North American growth, new customer experiences, and sustainability efforts in this video.
http://cheddar.com/media/adidas-north-america-president-talks-growth-customer-experience-sustainability/
Customer experience (CX) is more important today than ever. Providing an exceptional customer experience consistently, though, is hard. Measuring customer experience and tying it to tangible business outcomes is harder still.
The first step in your journey to improve CX is to measure customer experience. While you will be familiar with widely known customer experience metrics such as Net Promoter Score (NPS)® or Customer Satisfaction (CSAT), how and when you calculate these metrics, as well as how they influence your actions, can have an big impact.
http://customerthink.com/measuring-customer-experience-beyond-nps/
Subscriptions enable consumers to obtain a wide variety of products and services, from streaming video to boxes of fashion items, in a convenient way. Providing a good customer experience and evolving with customer needs are vital to ongoing success in selling via subscriptions.
http://digitalcommerce360.com/2019/12/05/customer-experience-is-key-to-subscription-success/
Cerebri AI's platform uses a machine learning paradigm called reinforcement learning, in which a machine learning model optimizes its actions based on new and historical data to yield the greatest reward. It analyzes digital customer interaction data and generates up to four “next best actions” for the company trying to make a sale, such as sending a marketing email or reaching out from a call center.
http://builtinaustin.com/2019/12/04/cerebri-ai-raises-7M/
Holiday shopping is known for deep discounts and big sales. Entire websites are dedicated to finding the best deals, but is continually slashing prices really a strategic move for businesses? Competing simply on price isn’t sustainable. Eventually, the business will no long be making money or be different from any other company. The solution is to compete on customer experience.
http://forbes.com/sites/blakemorgan/2019/12/04/10-customer-experience-alternatives-to-competing-on-price-for-the-holidays/#10bc7027a0c5/
While scrambling to drive in-store traffic in an online-focused retail environment, brands have let their customers’ digital experiences suffer. SMG data from a recent study involving a subset of our retail clients found the average Overall Satisfaction (OSAT) for online purchasers is 24 percentage points lower than that of in-store purchasers. In a competitive market where every touchpoint matters, brands can work toward decreasing that gap in satisfaction by considering the following ideas and concepts:
http://smg.com/blog/blog-detail/smg-blog/2019/12/03/provide-consistent-experience-across-channels/
