Customer Experience
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Banking Customer Retention Strategies to Implement in 2024
Posted at: 10/24/2023 12:30 PM
Customer retention is the backbone of a successful banking institution. That's because, in an ever-evolving financial landscape, banks must prioritize retaining their existing customers to foster long-term profitability and growth. While attracting new customers is essential, it is equally vital to nurture and retain the relationships with the ones already in the fold. This blog post delves into powerful banking customer retention strategies to implement in 2024. They are proven tactics that
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![Blog: What Are Customer Experience (CX) Insights? [& How Do I Use Them]](/media/5747/laptop-screen-with-online-graph.jpg)
Explaining Customer Experience Insights [& How to Use Them]
Posted at: 9/25/2023 12:30 PM
Customer experience isn't just a buzzword; it's the lifeblood of businesses striving for sustainable growth and customer loyalty. Therefore, collecting customer experience insights to drive business decisions is incredibly important. In this blog, we'll explore the multifaceted world of CX insights, from deciphering customer sentiments to identifying pain points and implementing strategies that resonate with your audience. We’ll also dive into the methodologies that help collect customer feedb
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Conducting Stadium Experience Surveys: What Do Fans Really Want?
Posted at: 3/18/2023 12:30 PM
There are many factors that contribute to a spectacular stadium experience. Good food, comfortable seating, clean bathrooms, and available parking to name a few. For fans, it's more than just the sport they are watching or the music act they are seeing that impacts their experience. Stadium experience surveys are an excellent tool to truly understand what specific factors drive attendance to a venue outside of the entertainment act. They can also provide insight into areas of satisfaction,
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Improving Customer Service: Tips for Winning Big with Customers
Posted at: 12/8/2022 1:30 PM
It should go without saying, but if your business doesn't have excellent customer service, your business won't be open for long. Okay, maybe that's a little dramatic. But it's kind of true. Why? Because customer service is the foundation of your company. If you're not prioritizing improving customer service, then your retention rates will also suffer. And with repeat customers reportedly spending an average of 67% more than new customers, you're leaving a lot of money on the table. What's
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Measuring Your Bank or Credit Union's NPS
Posted at: 10/14/2022 12:30 PM
How likely are customers or members willing to recommend your financial institution? It's an extremely important question - but one that only a few banks or credit unions seek the answer to. Net promoter score (NPS) is a powerful tool used by many brands across industries to measure customer satisfaction and identify their happy clients and the not-so-happy ones. Undoubtedly, calculating NPS is beneficial for those in the financial sector as it quickly identifies areas that need improvement
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How to Analyze the Customer Journey with Surveys
Posted at: 9/20/2022 1:48 PM
Analyzing the customer journey is hugely important because it tells businesses how shoppers interact with their brand. This is why businesses need to prioritize the customer experience as a whole. Using secondary data, we can make accurate assumptions about this essential process. For instance, here are a few stats Google collected on online shopping behaviors: 87% of consumers said knowing they got a good deal is important when deciding which brand/retailer to purchase from 85% said produ
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Online Food Delivery: Using Data to Measure and Improve Customer Service Experience
Posted at: 12/3/2021 1:30 PM
Before COVID-19, many consumers never solely relied on online food delivery services, but more so used it as a luxury or out of convenience. However, as a result of more people needing to order delivery out of necessity and public safety,y man saw how convenient the process really was. Now, 60% of U.S. consumers order delivery or takeout once a week -- and 31% say they use these third-party delivery services at least twice a week (Upserve). Many restaurants and food delivery apps are left w
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What is Blind Testing in Market Research?
Posted at: 11/20/2020 2:03 PM
Bias. The sheer uttering of the term sends chills down the spine of a market researcher. Blind testing in market research assures any type of bias in quantitative or qualitative studies is eliminated. In a market research project, everything must be done to identify the threat, eliminate the threatening bias, and use precaution to prevent the threat from happening again. Purity in market research is essential. Any knowing or unknowing bias built into a focus group, survey, or in-depth intervie
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How to Create a Customer Journey Map to Improve Customer Experience (CX)
Posted at: 8/14/2020 12:30 PM
Not enough businesses take the time to audit the full customer experience for their products or services. Oftentimes, we make assumptions about customers, but we can’t truly understand their interactions with our organization without conducting some comprehensive market research. Customer journey mapping is the best way to document the thoughts, feelings, challenges, and successes throughout a customer process. These intricate studies typically require a multi-phase approach that seeks feedbac
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3 Ways to Create a Customer Experience Strategy
Posted at: 5/6/2020 1:22 PM
A customer who has a positive experience with a business is more likely to become a repeat and loyal customer. In fact, a Walker study found that by the end of 2020, customer experience will overtake price and product as the key brand differentiator. The study found that 86% of buyers will pay more for better customer experience. While this is likely not news to you, understanding a consumer’s buying pattern and creating an effective customer experience strategy around this behavior is a commo
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4 Market Research Tips to Boost Online Sales During COVID-19
Posted at: 3/23/2020 2:02 PM
As the times change, and more and more customers visit websites to purchase products and services, market research can set you up for success. It’s likely each day, each week, and each month your website is drawing more and more customers in for online sales as customers become more and more comfortable with making purchases from your website. In some cases, like COVID-19, consumers may not have any choice. When it comes to purchasing behavior, the more you know about the customer, the better c
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How to Use Market Research to Become a Disruptive Brand
Posted at: 3/5/2020 1:30 PM
We live in a world where cars drive themselves, we can ask Alexa to turn the lights on, and packages magically appear on our doorsteps in two days or less. As consumers, we have started to expect more from the products and services we use each day. We’ve been given a taste of evolving technology combined with innovation and personalization, so now we seek out disruption from the brands we consume. Disruption is a way brands can meet customer needs, possibly even fixing a disconnect we didn’t e