Remember that time you went to that store and couldn’t find that thing you needed? And since there was no one nearby to help, you just turned around walked out?
I’ll bet you thought something like, “I don’t have time for this. I’ll just take my business elsewhere!”
Now imagine that your customers are you in this scenario. And the store is your financial institution.
Customer experience is the most critical driver in increasing customer loyalty.
Just fourteen percent of your customers will stick with you if you disappoint them.
Gone are the days of simple comparisons based on price, features and benefits.
Today’s consumers evaluate every interaction they have with a brand, its products and its people.
Then they compare that to experiences they’ve had elsewhere.
This means, expectations are high.
But with the right strategy in place, you can exceed those expectations!
Here are Rachel’s Four Rules for Building a Strong Foundation of Customer Engagement.
Rule number one. Leverage customer data. It’s not enough to just know their email address and phone number! Find out as much as you can about your customers’ preferences, habits, and needs.
Rule number two. Measure, adjust, repeat. If you don’t know where you stand, you won’t be able to improve, or build on your positive customer service attributes.
Rule number three. Don’t just be prepared, be proactive. Address customer experience deficiencies before they become an issue. There’s no guarantee they’ll give you a second chance!
Rule number four. Enlist the expertise of experts. Transforming complex customer experience data into a successful action plan can be overwhelming. Don’t spin your wheels! Call on customer engagement professionals to help you build a customized path that delights and retains customers. It will be worth every penny.
Your customer experience is your competitive advantage. Financial institutions that embrace a culture of customer engagement will be the ones that come out on top.
And those, are Rachel’s Rules!
Check out our next videos for more on boosting your customer experience.
 2018 Forrester US Customer Index Survey