Blogs

With every passing year, the competition in the banking industry rises, making it crucial for leaders to stand out to maintain a healthy customer acquisition and retention rate. And to be distinctive, you have to leverage customer experience trends in the banking industry to stay ahead in the competitive race.

A study conducted by Forrester revealed that “More than 90% leaders agree that their overall success as a business relies on data that is timely, accurate, complete, and accessible. But data is only useful when it is transformed into insights, which is why nearly that many respondents see customer analytics as a critical competitive differentiator.”... It is a rising trend that brands invest millions of dollars in gathering customer data, paying a lot of money to market research firms, conducting studies one after another, and frequently trying different methods and techniques. But are they working?

Company leaders are putting a lot of effort into a plan to recession-proof their business model as a recession hangs over the economy. However, if a proactive strategy is swiftly put into place, a recession doesn't necessarily mean that your business will slow down.

If you want to create a better customer experience, then communication is key. In order to provide your customers with what they want and need, you need to be able to effectively communicate with them. This means listening to them, understanding their needs, and responding in a timely manner. By establishing good communication habits, you can ensure that your customers always feel heard and appreciated.

Too often, the customer experience is viewed as the sole responsibility of the marketing or customer success teams. But the truth is, delivering an exceptional customer experience is a team effort. Every single department in your organization plays a role in shaping the way customers perceive your brand.

You may have heard the term "customer experience analytics" thrown around a lot lately. But what exactly is it? And more importantly, is your business using the right customer experience analytics? Let's take a closer look.

Every business talks about how important customer experience is, but not every business is doing everything it can to improve its customer experience programs.... A PwC report reveals approximately one in three consumers (32%) would stop doing business with a brand they loved after one bad experience.

Your company's customer experience (CX) program is a critical piece of your overall business strategy. But like any other important initiative, it's also susceptible to risk. 93% of CX efforts fail during execution.... Although companies firmly believe ( 86% ) that they must compete on customer experience (CX), only 51% of brands used social listening or monitoring in any way.

In today's tech-savvy world, customer experience is nothing without CX analytics. Customer Experience Analytics is the backbone of your CX tech operations. Understanding and executing CX analytics operations effectively helps you create the best experiences that customers cherish and share with others.