Customer Service vs Customer Experience: What’s the Difference?
Over the years, the concept of customer experience has rapidly evolved. In the past, the concept usually meant customer support. Customer experience was synonymous with customer service, defined by how well support teams solved problems. The success of customer experience was measured by how well reps could resolve issues. However, the landscape has undergone a […]
What is the Customer Experience Pyramid?
Picture walking into a store, and you immediately feel overwhelmed and unsure of where to find what you need. The store layout is confusing, the staff seem disengaged, and you leave without ever finding what you need, feeling frustrated knowing you’ll have to stop by another store. This scenario highlights the critical importance of understanding […]
What is a Customer Experience Map?
In a marketplace where customer engagement is critical to a business’s success, a deep understanding of the customer journey has never been more crucial. A Customer Experience Map, or Customer Journey Map, is a strategic tool that helps you visualize this journey chronologically from start to finish. It is not one-size-fits-all – but it often […]
What is a Frictionless Customer Experience?
Imagine you’re trying to open a new account with a bank. Instead of a cumbersome, paperwork-filled process, you’re greeted with a seamless, digital-first approach. Within minutes, you complete the application on your smartphone, receive instant confirmation, and even get personalized product recommendations. This is the ideal experience. Of course, we’ve all also experienced the flipside […]
Bridging the Survey-Action Gap Turning Customer Feedback into Meaningful Insights
Customer surveys have become an indispensable tool for banks aiming to improve the customer experience. They help banks gauge satisfaction, identify pain points, and understand expectations. However, turning survey data into actionable insights is often difficult, and it’s easy to get stuck in the survey-action gap. Several factors contribute to the existence of this gap: […]
How Artificial Intelligence Will Transform Customer Insights
To thrive and grow, financial institutions need to understand their customers – their motivations, needs, and expectations. This involves collecting, analyzing, and putting into action data on customer satisfaction. It can be very time-consuming – banking leaders are often surprised to learn how difficult it is to get accurate customer insights. The advent of Artificial […]
