Customer Centric Action Plans

ClearAction

Customer Centric Action Plans Lynn Hunsaker. Monitoring voice of the customer is one thing, but can all your employees name the customers’ top ten wish list? Barclays’ personal performance reviews include a strategic satisfaction index, which includes a retrospective 3-month comparison to other banks and continuous improvement of the customers’ top ten wish list.

You Can’t Legislate Customer Centricity

Beyond Philosophy

One interesting bit of his speech touched on an important issue for Customer Centricity: data breaches. He said the federal standard he would impose to notify Customers their information had been compromised should be 30 days. I am surprised that it would take as long as 30 days to tell a Customer of a data breach! If they have the need to legislate, then lags in notifying Customers must have happened so many times they feel the need to put it in law!

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Four Key Customer-Centric Disciplines for Growth Banks

PeopleMetrics

In directing banks toward continued relevance and future success, banking executives face some tough, complex questions like: How do we avoid commoditization? How do we offer our customers a seamless, easy banking experience? But while the internal focus is important, it has never been more important to review business through the lens of customer experience. Not only will the customer-centric survive, but also thrive. Introduction.

Report: Small Banks Are More Customer-Centric

Toister Performance Solutions

The credit union had hired me to conduct a customer service assessment and I had asked him about his vision for serving credit union members in the future. A new report from the American Customer Satisfaction Index (ACSI) shows branches and ATM machines are just about the only place where credit unions and community banks lag behind larger financial institutions. ACSI Banking Report Highlights Smaller is better when it comes to service quality, according to the ACSI report.

Customer Centricity Masterclass with Doug Leather

Peter Lavers

Customer Centricity is the eco-system and operating model that enables an organisation to design and deliver a unique and distinctive customer experience”. A group of people representing some of the best brands in Europe gathered at Twickenham Stadium on a warm June day for a special masterclass focused “customer centricity” in companies that are primarily business-to-consumer (B2C). How constant board-level changes damage long-tern customer value development.

Top Five Obstacles to Customer Centricity #3 Numbers Focus

Peter Lavers

This series of blogs is based on the early results of research undertaken by Peter Lavers on customer centricity. Participants are asked to tell us what, if anything, they are pulling their hair out over when it comes to customer centricity. 54% of respondents agreed with this hindrance to customer centricity, and it is the top issue for B2B companies. This is despite years of CRM and customer experience thinking! Does it mention customers?

Customer Centric Culture – putting theory into practice

ijgolding

I speak and write regularly about the increasing addition of the word ‘customer’ to the typical vocabulary of business leaders. CUSTOMER service; CUSTOMER experience; CUSTOMER focus; are just three examples of combinations of words that are becoming easier and easier to SAY – in whatever industry a business leader represents, or wherever in the world their organisation operates. All businesses have a Customer Experience – whether they are conscious of it or not.

How to Improve Digital Customer Experience in Banking

REVE Chat Blog

Customer experience has reached a level of paramount importance in recent years, and customers no longer view their experiences in an industry-silo. Banks functioning digitally have witnessed reduced costs and streamlined processes. What is customer experience (CX) in Banking? .

Best Practices for Customer-Centric Decision Making

PeopleMetrics

Great customer experiences don’t just happen. 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. Let's imagine you've clearly connected your brand promise (which should be a thing you have) to your intended customer experience. Each of these promises should extend to a different customer experience.

Connecting People: The Key to Customer Centric Leadership

ijgolding

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. People who seem to completely ‘get it’ — the need to become ever more customer centric to enable sustainable business growth. What the customer strategy is – or if there even is one. How the business is performing – financially and from the customer perspective.

How to Measure Customer Centricity the Right Way

C3Centricity

As a customer first strategist (hopefully just like you), I spend a lot of my time searching how to better measure customer centricity for my clients. I also do a lot of analyses on what customers really want today. I’m always trying to understand exactly the solutions customers need, desire and dream of having. My regular searches include customer service, customer satisfaction, customer care and similar topic areas. CUSTOMER CENTRICITY.

The Bank Executive’s Agenda: Differentiating Their Bank in a “Me-Too” Marketplace

Integrity Solutions

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. Leaders at top-performing banks know that being able to win new customers and retain profitable relationships is essential to growing market share and increasing shareholder value.

How technology can drive a customer centric culture: 3 true stories

TechSee

Developing a customer centric culture in a large enterprise goes beyond addressing a customer by name in an automated email, or segmenting by interest; it is a holistic approach designed to focus on the consumer’s authentic needs. Assisting customers when time is of the essence.

Making Customer Experience Fun! The Budapest Bank CX Crossword Puzzle

ijgolding

This is a post about customer experience (CX) transformation – about the incredible work being done by a bank in Eastern Europe in their quest to become sustainably customer centric. Budapest Bank had actually started its customer experience program at the end 2015. The main objective was – by placing the CX mission in the centre of the banks thinking – to help customers to concentrate on and realise the most important things in their lives.

Top Priorities in Customer-Centric Contact Centers

RapportBoost

Did you miss this Customer Experience Update Webinar from the end of November? Read the transcript below: Nicholas Rodriguez: …the highest priorities for Contact Centers that focus on the customer. So, Talkdesk Enterprise Contact Center empowers companies to make their Customer Experience a competitive advantage. Over 1,400 innovative enterprises around the world with thousands of seats including IBM, Acxiom and Zumiez rely on Talkdesk to power their customer interaction.

Customer Service Trends 2018: Creating Effortless Customer-Centric Experiences

Kayako

At Kayako, we do our best to understand not just our customers’ needs, but their customers’ needs, as well. Armed with that empathy and over ten years in the business, there’s been one consistent signal that stands out from the noise in this year’s customer service trends: customers want effortless experiences. Customers hate putting in effort to get problems resolved. Did my bank have an error? Excellent customer experiences grow customer loyalty.

2015 Brand Ambassador Award Winners: Lessons in Customer Centricity

PeopleMetrics

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. Winners of the 2015 Award are: Jen Beier of 1st National Bank. Brand Ambassadors are invaluable to customer-centric cultures, as they consistently deliver on customer expectations and expand the boundaries of quality service.

Australian Banking and Financial Institutions Need a Seismic Shift in Culture

Noble Systems

In light of recent news from the royal commission exposing misconduct by Australian banking and financial institutions, businesses in the financial sector should consider taking a look at their internal sales practices and potentially recalibrating their corporate culture.

Role model customer centric leadership: why I am a huge fan of Jeff Bezos!

ijgolding

Jack Welch believed in people – employees AND customers. 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. Being customer-focused allows you to be more pioneering.

Communication — Essential to Creating and Sustaining a Customer-Centric Culture 

ijgolding

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 I point back again to last month’s article, there is little point having customer experience as a key element of your business strategy, or indeed having a strategy at all, if your people do not even know what the strategy is, or that it even exists! Misinformed customers and colleagues.

Three Truths Proving Why Companies Should Be Customer-Centric

Amity

Since the early 2000s, companies from nearly every industry have come to the realization that building enduring customer relationships is essential to their success. As a result, many older companies and a large percentage of newly created ones have made a concerted effort to shift from being product-centric to becoming customer-centric organizations. Organizations that are aligned around their customers seek to understand the world through their eyes.

How to Define Your Priorities and Build a Plan for Customer Centricity

PeopleMetrics

The final discipline of growth banking is all about listening and acting on feedback from your customers. And it starts with the decision to either build or buy a Voice of the Customer solution for your own organization. But it's important to note: having customer data and following up with individual customer and employee feedback is not enough to move your overall Net Promoter or Customer Loyalty scores. An increase in customer base?

Employee Culture: Why Amazon is on Top and Bank of America Isn’t

Beyond Philosophy

Each year, we do a Global Leader Survey of top executives in Customer Experience Management. Last year’s survey revealed that Amazon claimed the top spot and Bank of America…well, didn’t. That is to say, Amazon has it—and Bank of America doesn’t. According to the global leaders, that’s because: They deliver excellence customer service. They have stated publicly they want to be the “ Earth’s most customer centric company. ” I am not a fan of banks.

Digital Transformation in Retail Banks: Potential Impact on Brand Equity, Customers, and Employees

Beyond Philosophy

It is having most impact, and will likely continue to do so, in traditional industries such as retail banking. Digital innovation in banking can be seen in the transformative way people transact and organize their finances. It is also impacting financial service cultures, as it forces banks to shift from a largely product-centric perspective to a customer-centric one. Needs a bank’s product to support their activities (home purchasing, auto loans, etc.).

Customer Centricity has to be an Intrinsic Principle: an Exclusive Interview with Mr. Rohit M A, Co-Founder and Managing Director, Cloudnine

Customer Guru

We, at Customer Guru, are on a mission to spread awareness of how Customer Experience (CX) should be the number one priority for Indian businesses to become more sustainable and successful globally. Thus, we have taken this initiative of sharing the experiences of successful CX leaders across India to inspire and guide professionals in adopting and inculcating a customer-centric approach in their organizations.

A Customer-Centric Approach To Shaking Up Your Corporate Culture

Micah Solomon

A strong, consciously developed pro-customer (and pro-employee) company culture is a business advantage that will serve you for years—and inoculate your brand against competitive inroads. Here’s why a focus on culture is so powerful in ensuring success with customers: • The number of interactions at a business between customers and staff is nearly infinite, and only a strong, clear pro-customer culture gives you a fighting chance of getting the preponderance of these interactions right. •

Corporate Culture: Consulting The Customer-Centric Approaches Of The Greats

Micah Solomon

A strong, consciously developed pro-customer (and pro-employee) company culture is a business advantage that will serve you for years—and inoculate your brand against competitive inroads. Here’s why a focus on culture is so powerful in ensuring success with customers: • The number of interactions at a business between customers and staff is nearly infinite, and only a strong, clear pro-customer culture gives you a fighting chance of getting the preponderance of these interactions right. •

Digital Trends and Technologies Transforming CX in Banking and Finance

Tenfold - Contact Center Blog

These digital natives will not just comprise the new workforce, they will also define the new breed of customers for financial services companies. The taste of this new class of customers clashes with the traditional mode of service that dominates the finance sector. They have no attachment to legacy systems that banks and finance companies have been holding onto for years, despite the wave of new technologies in business and communications. Banking-as-a-Service.

How to Prepare Your Bank for Ongoing Customer Feedback and Action

PeopleMetrics

With insufficient planning and preparation, your customer feedback strategy may stumble, you may lose team members along the way, or find yourselves lost in a sea of information. Early on, our most successful banking clients took time to plan their programs with representatives from branch operations, contact centers, and digital channels. You may be tempted to limit communications to departments or individuals who will be receiving and responding to customer feedback.

Employee Culture: Why Amazon is on Top and Bank of America Isn’t

Beyond Philosophy

Each year, we do a Global Leader Survey of top executives in Customer Experience Management. Last year’s survey revealed that Amazon claimed the top spot and Bank of America…well, didn’t. That is to say, Amazon has it—and Bank of America doesn’t. According to the global leaders, that’s because: They deliver excellence customer service. They have stated publicly they want to be the “ Earth’s most customer centric company. ”. I am not a fan of banks.

How to Evolve Banking Customer Experiences for Survival

PeopleMetrics

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. But the bank execs in attendance were open to facing the daunting facts, such as: Small banks are dying out. In 2006, the most common reason customers visited a branch was to deposit funds. Who are our customers?

Customer Engagement is an Enterprise-wide Imperative

ClearAction

Customer Engagement is an Enterprise-wide Imperative Lynn Hunsaker. Does customer engagement rely solely on Marketing, Sales, Success or Service strategies? Customer engagement is successful to the degree that the rest of the company empowers its success.

12 Top Choices to Read and Follow over the Holiday Season

Peter Lavers

These blogs have generated the most engagement from my twitter and LinkedIn communities: It’s hard to believe that the Credit Crunch hit 10 years ago, and this blog considers 4 “seismic changes” that have resulted in the field of Customer Management, with versions specific to B2B and B2C. Big data, analytics, AI and IoT continue to be hot topics, and in this 2-part blog I argue that customer data is the new marketing battleground , and that analytics are the new weapons guidance systems.

B2C 125

What Customers Want Today. (And How to Give It To Them!)

C3Centricity

As a customer centricity champion, just like you I hope, I spend a lot of my time researching what customers want. My regular searches online include customer service, customer satisfaction, customer care and similar topic areas. Customer Centricity.

5 Top Customer Service Articles For the Week of June 20, 2016

ShepHyken

Each week I read a number of customer service articles from various online resources. World’s 3 MOST Customer Centric Companies: How do they do it!! Customer Guru) Here are our top three picks for the most customer centric companies and some lessons on how they manage to be customer-centric despite their size and diversity. The author shares nine specific tactics and strategies that these companies excel at to achieve customer centricity.

How to Leverage Employee Feedback on Your Customer Experience

PeopleMetrics

If you can tell, we’re fans of using feedback in your customer experience strategy. However, when thinking about collecting feedback on the customer experience, we can limit ourselves to considering feedback from customers. After all, customers are the end-users of our experience. But as I’ve mentioned before, only the vocal minority of customers will give you feedback. You’ll never hear from most of your customers.

Peter Lavers named as a Top Customer Service Influencer

Peter Lavers

WCL Customer Management’s founder and MD Peter Lavers has again been named as one of the world’s top customer service influencers. He has been featured on Fit Small Business’s Top Customer Service Influencers of 2018 list. . This list features influencers who are contributing to the customer service industry in an outstanding way. Please get in touch if you’d like to engage Peter to add value to your customer service or experience programme.

4 key barriers to challenger brand growth; a focus on retail banking

Maru/Matchbox

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. It reinforces the notion that brands must have the basics in place first before they can begin to wow and delight customers.

5 Facts to End the ROI Debate on Customer Experience

Beyond Philosophy

For many years, there has been a debate whether you could assign a dollar amount to determine the return on investment for any Customer Experience improvements. At times (more in the “old days” but every now and then it happens in present times) we’ve literally have been accused of “having religion;” i.e., believing in Customer Experience (CX) without proof and asked to show the value of CX. Customer Satisfaction results in a higher share price.

What Does The Scottish Independence Vote Have to Do with Customer Experience?

Beyond Philosophy

Before I explain what I mean by that and how it has to do with Customer Experience, however, let me first tell you where I was born. 2] The study found price increases had twice the effect on customer switching, compared to price decreases.”. How is this applicable to Customer Experience? Well, Loss Aversion is applicable to Customer Experience as well. Regardless, the public outcry was huge because Customers felt they were losing something.