{"id":47988,"date":"2020-06-12T18:12:10","date_gmt":"2020-06-12T22:12:10","guid":{"rendered":"https:\/\/www.sogolytics.com\/blog\/?p=47988"},"modified":"2025-02-18T06:13:10","modified_gmt":"2025-02-18T11:13:10","slug":"how-to-improve-customer-experience-in-banking","status":"publish","type":"post","link":"https:\/\/www.sogolytics.com\/blog\/how-to-improve-customer-experience-in-banking\/","title":{"rendered":"How to Improve Customer Experience in Banking"},"content":{"rendered":"

The customer journey in the banking market<\/strong><\/h2>\n

The minute individuals begin thinking about the institution they want to look after their financial transactions and safeguard their assets; the customer journey has started. The <\/span>customer experience (<\/span><\/a>CX) at every touchpoint along the way will guide him or her or the company to the final destination.<\/span><\/p>\n

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Banks, to no small degree, have lost brand value by becoming commoditized. The opportunities for differentiating <\/span>customer services <\/span>are limited when it comes to retaining existing customers and turning prospects into new ones. Strategic decision-makers cannot ignore CX and <\/span>NPS (Net Promoter Score) <\/span><\/a>as pivotal to their plans. Indeed, NPS surveys are the bottom line indicators of a customer’s willingness to recommend a bank to friends and family. It’s the litmus test of whether or not marketing and sales enablement are getting the job done as expected.<\/span><\/p>\n

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The quality of banking customer services figures into CX and the <\/span>customer journey<\/span><\/a> through numerous touchpoints. However, it goes a lot further than offering lower fees, higher returns, and new online options. Failure to recognize the valid drivers of CX in a banking scenario will ultimately result in an uninspiring competitive performance. The worst thing coming out of an NPS survey is a picture of more bank detractors than ambassadors. Nothing travels faster than bad news.\u00a0<\/span><\/p>\n

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So what can bankers do to make sure that each touchpoint keeps propelling existing customers and prospects positively forward to the next one?\u00a0\u00a0<\/span><\/p>\n

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\"customer<\/p>\n

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Monitor your customer journeys to look at the customer experience from every angle<\/strong><\/h2>\n

Mapping customer journeys by identifying all touchpoints is the in-science today. When it comes to a banking customer, it can be a dizzying experience involving any number of actions. Here are just a few of an almost endless list:<\/span><\/p>\n

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