With COVID-19 dictating how much of our business and social lives work, it’s easy to throw in the towel on any plans you had and simply try to stay afloat. In some ways, this is good. You should be flexible enough to sense market forces, adjust and potentially preserve capital during uncertainty.
However, now is not the time to throw customer experience out the window.
The reality is that now, when things are stressful and uncertain, is an opportunity to acquire new customers due to changes in their everyday lives, build relationships that expand beyond a transactional level, and differentiate yourself as a brand.
Consider the following ways you can help your team stay competitive and keep customers as your focus.
Don’t Get Bogged Down With Tech Initiatives
If you’re in a leadership role at a financial institution, you’re constantly hearing about the omni-channel experience, FinTech partnerships and new technology like voice controls and AI as part of your strategy. All of these things are great, and they can greatly support your overall customer experience. However, they’re a means to an end, with the end goal being a positive customer experience.
Most businesses are having to make cuts to their budgets to weather the current financial storm, and while it can be tempting to cut everything except your budget to revamp your digital experience, it should never come at the cost of accurately measuring and improving your customer experience.
Constant measurement across touch points is more important than ever. There may be a temptation to let these pieces of measurement go by the wayside due to the extreme market/lifestyle fluctuations we’re seeing. In reality, these fluctuations make it more important than ever to keep soliciting feedback, improving, and soliciting more feedback.
Understand Unfamiliar Customer Experiences
Your customers are likely interacting with your organization in new and unfamiliar ways. For example, an older individual who is accustomed to visiting your branch may be interacting with your website or mobile app for the first time. Make sure you have a plan in place to capture their feedback, understand their pain points, and then come up with an agile plan to improve. These new interactions are both tests and opportunities — tests of the efficacy of the systems you have in place, but opportunities to improve them and show your customers your ability to listen, respond and meet their needs.
