The finance industry has been undergoing quite a few changes over the last few years. Financial institutions that were once very traditional are now looking to adopt best practices used by more agile and flexible FinTech organisations. These practices that will not only enable these organisations to adapt to a fast-changing and increasingly tech-driven industry ecosystem, but also meet the rising expectations of their research-savvy and technologically inclined customer base.
In this article, we will analyse the current state of the financial industry as well as summarise 5 best practices for Financial Companies entering into the ‘Digital Age’ .
https://mopinion.com/best-practices-for-financial-companies-entering-the-digital-age/
Providing a good Customer Experience (CX) is on just about every organisation’s agenda these days. But where exactly is it headed? We can’t say for sure. What we can tell you though, is that this CX’s ecosystem of solutions is tethering between both expansion and consolidation. New niche solutions are sprouting up everywhere you look, from Live Chat tools and Customer Experience Management (CEM) software to Customer Success platforms and User Feedback solutions. Meanwhile, many of these same tools are being acquired by larger enterprises and ‘all-encompassing’ CX suites, such as Verint and Medallia. Movements in the market which are all attributed to trends in CX. So let’s address the question on everyone’s mind…What’s happening in CX and what lies ahead?
https://mopinion.com/state-of-customer-experience-cx/
One of today biggest challenge's in business is effectively deepening connection with and identifying better ways to serve customers while also anticipating their needs. Missing such a mark can often mean losing market share that can be next to impossible to regain. However, getting the equation right can be transformative to a brand. Indeed noted management consulting firm McKinsey & Company noted in a recent insight piece that brands that can improve the customer journey see revenues increase as much as 10-to-15 percent while also lowering the cost to serve 15-to-20 percent. How? New trends leveraging technology are making such achievements possible. In fact, McKinsey says "customer care is actually on the cusp of a technology explosion that will greatly enhance frontline capabilities."
https://www.forbes.com/sites/laurencoleman/2019/03/07/how-tech-is-powerfully-transforming-new-trends-in-customer-connection/
Some companies think digital transformation is about efficiency—saving time and money, beating competitors to market, and wooing customers with fancy apps and tech bling. They’re wrong. As I’ve said for years now, digital transformation is about one thing: improving customer experience. And many companies are finally starting to realize that customer experience management needs to be on their radar if they want to thrive in 2019. Here’s what good customer experience management looks like.
Knowing CX is everyone’s job. Think back to the last time you had a fulfilling customer experience. Can you even remember? Overall, CX is incredibly fragmented today—a jumbled mix of digital phone trees, somewhat articulate chatbots, disorganized web FAQs, and glitchy apps—that customers are starting to clamor for more and better. What if your company was the one who rose to the top—exceeded expectations—provided a seamless web to mobile experience? You’d instantly rise to the top of your industry.
https://www.forbes.com/sites/danielnewman/2019/02/28/5-digital-transformation-trends-reshaping-customer-experience-for-2019/#30a751553fbc/
Welcome to 2019… where digital technologies will start evolving faster than we can adapt. Where customers’ experience expectations will rise above everything else. Where predictive analytics will boost customer experience for good, and where data ethics will become the new competitive advantage. Bottom line: our customers expect now more than ever that the digital customer experiences (CX) we provide are not only seamless and integrated but also more advanced and secure.
https://mopinion.com/top-digital-customer-experience-cx-trends-for-2019/
The use of metrics is a practice businesses apply to nearly all aspects of their organisation. Whether that’s finance, competition, customer requirements, expectations, employee performance, or marketing, metrics matter. Metrics reflect and support the strategies of these business areas, giving us leverage to improve in any way we can. So why would this be any different when collecting online customer feedback? And while we’re on the subject, what is a customer feedback metric?
https://mopinion.com/what-is-a-customer-feedback-metric/
Get customer experience right and profit will follow. That’s the conclusion of a survey by Hotjar of 2,000 CX professionals published in November 2018. Only 12 percent of respondents regarded their companies as being mature when it came to customer experience.
“Customer experience leaders prioritize delivering an outstanding experience over everything else (yes, even over revenue),” the Hotjar survey states. The leaders focus on current customers, rather than obsessing about potential ones. They allocate a regular amount of time every week to make calls, meet for coffee or find out about the support issues of their customers. They follow the Golden Rule of customer experience: “Treat customers how you would like to be treated.”
https://www.cmswire.com/customer-experience/customer-experience-trends-for-2019/
We’re at a tipping point for many transformation triggers, including globalization, digital growth, regulatory compliance and a changing economy. Each of these things has the power to dramatically impact customers and change how they interact with brands. The combination could completely change the face of customer experience moving forward. Buckle your seat belts because we’re in for a bumpy (and exciting) transformation journey heading into the new year.
https://www.forbes.com/sites/blakemorgan/2018/12/05/five-trends-shaping-the-future-of-customer-experience-in-2019/
Consumer tastes can change on a dime.
The attitudinal undercurrents can be mystifying, difficult to detect, alien to interpret, dangerous to place a sizable bet on, and visible only in retrospect.
Can research help marketers anticipate these shifts and get ahead of the curve to identify trends?
https://www.forbes.com/sites/paultalbot/2018/06/20/keeping-up-with-change-how-marketers-give-customers-what-they-want/
Stitch Fix, established in 2011 in San Francisco, has disrupted the fashion retail industry. With input from the customer and collaboration between artificial intelligence (AI) and human stylists, the online styling subscription service eliminates the need for their customers to go out and shop for clothing or even browse online, because they deliver personalized recommendations right to their door on a regular schedule. The customers can keep all of the products or return what they don’t like or need. That feedback gets input into the company’s data vaults to make the algorithms even better at determining the preferred style for each person and even identify trends.
https://www.forbes.com/sites/bernardmarr/2018/05/25/stitch-fix-the-amazing-use-case-of-using-artificial-intelligence-in-fashion-retail/#2f7538943292/
Bookmarks on this page are managed by an admin user. 
