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How well are your customers engaged with your organization so that you have multiple opportunities to offer/create meaningful customer experiences? Historically we depended on the branch staff, next we added other distribution channels such as advertising media including direct mail, ATM's, contact centres. online banking, mobile representatives and, most importantly, full mobile banking apps, payments, etc in your omnichannel landscape. Customers are mutli-channel users today, although certain ones are critical customer engagement pivots especially with integrated digital solutions which can be customized/personalized to one customer at a time. Consumers are engaged more than ever and they control when, where and how those events take place or which ones they activate. How engagement effective are your channel choices or are they primarily reactive? How about your competitors- traditional, digital and platform? Customers are actually being engaged for financial services by non-bank/credit union digital disintermediators!

My favourite is Amazon, a platform digital retailer cannibalizing just about every retail sector including financial services. Amazon, once you have made a search or contact initiates their continuous engagement offers through any Internet/mobile device. In this high shopping time between Thanksgiving and Christmas it is amazing how many intra-day prompts/offers you receive in your e-mails. as pop-ups and side bars or other applications- as we say in sports, it is a full bench press! You always get the sense that Amazon has something new to offer in products, services or prices. So are we financial services spectators or participants in this digital transformation? Perhaps it is time to do some customer engagement/experience research and verify where you stand as a lead, complimentary or supplementary partner with your relationships? Digital dynamics are revolutionizing business and customer preferences and your research should be continuous and be tracking trends through daily data analytics.

Pat Palmer | Thursday, November 30, 2017 | Trackbacks (0) | Permalink


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