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coins-banking

A glimpse inside the retail bank of the future

In previous blogs we referred to the operating models of retail banks by identifying certain product and channel features that drive the changes in the industry. This post will focus on the evolving operating model and the impacts it has on people, process and enabling capabilities, which is more than the technology that drives most […]

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Analytics

Analytics at the core of customer engagement

There’s so much customer data around us, and it gets richer and faster each and every day. People are talking non-stop about Big Data and its many uses in various parts of the market. But what’s not really getting as much attention is how analytics are used to make loyalty platforms effective for meaningful customer […]

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Craig

Customer engagement surfing big data insights

Beaches, believe it or not, are a fantastic way to analogize customer engagement, Big Data and right-time marketing. Everyone loves the beach and its complex interaction of soil, wind, sea, geography, and physics. It has a course-grained scale like wave breaks and dunes, and is also very discreet at the level of drops of water and […]

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LL_Bean_Store

Customer intimacy, meet operational excellence

What is more important to company success, a strong external focus on customer experiences or an internal focus on effective and efficient operations? Of course, it’s a false dichotomy — you need both. I described in an earlier post how Tesco worked for years to improve its supply chain capabilities, then leveraged this value by using deeper customer knowledge […]

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breakthrough in banking

Are retail banks on course for an omni-channel revolution?

The following is a guest post by Sandesh Sharanappa. The banking industry is poised for a sea change as a result of the changing global and national regulations, demanding customers, disruptive technologies and the arrival of non-traditional players offering retail banking services. The industry faces a challenge in providing seamless customer experience, becoming truly customer […]

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Luggage

Misadventures in customer loyalty management

Recently, I had a great bad experience in brand social media use. It was great as a timely reminder of the danger of impersonal customer engagement, especially for someone who works in customer loyalty. It was bad because that lesson came at the expense of hours wasted at the airport. The Story My husband and I flew […]

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DNA

The new DNA of B2B marketing is Customer Experience

We usually think of customer experience (CX) as a consumer-facing concept. In most retail companies, it is a full-time position that puts heavy focus on the physical interfaces to the customer (Web, social, stores, support). It becomes easy to believe that customer experience is a combination of marketing, sales and service. CX has an identity […]

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Omni Channel Retailers teaching banks

Retail banks should take a lesson from omni-channel retailers

In a previous post I commented on the lack of innovation in retail banking in the UK and in other European countries. Riding the waves of the digital revolution, there is no doubt that most retailers will eventually adopt an omni-channel (‘OC’) approach to customer service. But is this equally true for retail banks? With […]

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Businesswoman shouting at telephone. Image shot 2008. Exact date unknown.

It only takes seconds to lose a customer

Getting the right information on demand is an eternal problem of today’s knowledge workers, and will only grow. Lack of knowledge causes a delay in decision-making, and ultimately leads to bad decisions. This is the essence of the Two-Second Advantage, where a little knowledge in the correct context at the correct time is much more […]

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USAA

USAA knows something other companies don’t

I used a long drive to Northern California this week to catch up with my insurance company, USAA. I had a laundry list of things to cover from a birth to a death and from selling a motorcycle to buying a new car. These administrative changes can take a long time and involve being passed […]

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Woman whispering in man's ear

Don’t think like your customers, get them to think like you !

Predictive analytics is big business now. Hand in hand with Big Data they represent one of the only ways to get to know your consumer market and understand how they’ll behave under conditions, respond to marketing and react to incentives. But the problem with all of this is that it’s a constant cat and mouse chase, consumers are […]

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Great Shopping Experience

Operational excellence, meet customer intimacy

Most organizations continuously strive to achieve operational excellence, but they spend less effort understanding customer needs — and few marry these two sources of customer value effectively. While a focus on lowering costs, improving quality, and providing consistent, reliable service will continue to be important, I see a shift in the coming decade to combining […]

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Shopping woman on the phone

Stop relying on luck for a good shopping experience

The following is a guest post by Sean O’Shaughnessey. Recently, my daughter was in the market for a dress and her experience with the retail store was so positive, she became a fan. Her particular experience was due to a one-in-a-million, perfect store clerk with a photographic memory. Yet now, technology is capable of consistently reproducing […]

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Bisi Bele Hulianna

Bisi Bele Hulianna and process (hint: famous in Chennai)

One of the foundational keys to consistently achieve business  benefits – whether they are related to inward looking drivers (such as efficiency, costs,  etc.) or outward looking (such as customer orientation,  customer service quality,  customer satisfaction, etc.) is the process. So as evangelists of ‘process thinking’, we all believe strongly that getting the process right […]

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united_airlines_boeing_737_image_33vm

Putting the customer first is a win for everyone, as United Airlines proves

This guest post was contributed by Clare Jeeves. Airlines are usually at the mercy of our acid tongues when it all goes wrong and the flight is delayed. However it is a rare thing to read about when they get it right, and in United Airlines case when they go more than the extra mile […]

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Healthrow taxes upgrades

Wake up, London, it’s a competitive world

We live in an increasingly competitive world, but more importantly, we live in a world where quality information doesn’t demand a premium. Anyone with a browser can know the most competitive details about pricing. Imagine the surprise when the United rep asked for a credit card before she could apply upgrade coupons to a flight […]

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