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Customer Experience

A few weeks ago while trying to make a change to my mobile plan, I had a customer experience that was poor at best and in this day and age, completely unnecessary. I was in my account on my mobile carrier’s website trying to figure out how to add a temporary international data option. You’d figure that option would exist somewhere, right? But, after jumping from link to link, I couldn’t find anything close to what I...

Contact centers (traditionally known as call centers) have always been a crucial part of the customer experience. However, in past decades, the role of contact centers has been drastically evolving in order to meet customer expectations. When thinking about “call centers”, most people imagine a roomful of robotic customer service agents answering customer support phone calls. But this isn’t necessarily the case as the new meaning of this term now reflects a much wider function. In order to...

When clients entrust their financial advisors and wealth managers with their assets, they develop a relationship that goes far beyond a simple financial transaction - the currency is their family’s well-being and peace of mind. This type of relationship between a financial advisor and their client has always been a high-touch one, with in-person meetings and phone conversations at the center of each touchpoint. However, with the sheer amount of growth that communications technology has seen...

It's been roughly four months since we launched our hypothetical CX Fund, a portfolio of stocks from 10 companies we felt were delivering a best-in-class customer experience. Our thesis was that in today's market where customers often value experience over price, companies that offered a great customer experience should hold an advantage over those that did not and, thus, have better business results. As we discussed in our previous post on the fund, narrowing our portfolio down...

What’s the best customer service story you know? Every company seems to have that one story where their customer service department went above and beyond to create a legendary customer experience. These experiences often lead to glowing letters of appreciation from the customer which are framed and hung on the wall in the breakroom. The story gets told at every annual meeting and is written about in the training manual. A Google search for “outstanding customer service...

  When it comes to the insurance industry, the most important values that should be nurtured between the agency and customer are trust and loyalty. But what if you have a hard time building trust and loyalty? According to a 2015 report by Accenture, this may very well be the case in the insurance industry - where churn totals as much as $470 billion (in Life and Property & Casualty premiums) globally as a direct result of...

User experience (UX) and customer experience (CX) have overlapping traits but completely different end goals. With that in mind, it’s no wonder people often confuse the two terms and misunderstand how to utilize them within their company’s product framework. In a technology centered business arena, understanding the fundamental differences between UX and CX is vital. Once you’ve got the basics of both UX and CX down, creating effective processes for your company then becomes easier to...

As Fintech and Insurtech companies disrupt traditional financial services providers with a laser focus on their consumers and a rising millennial consumer base demanding personalized service, businesses will continue to innovate into the next year and beyond. Here are a few predictions on where we see customer experience moving in 2017. 1. Customer experience will make the difference between successful and unsuccessful companies. The customer journey is increasingly defined by customer experience. Forrester called the phenomenon three years...

Customer experience. You’ve probably heard the term, but what does it really mean? In Movers & Shakers, our podcast on customer experience, we always ask our guests to define the term. While each definition is different, there’s always a common thread, which we expected due to our notion that the idea of customer experience is inherently ingrained in...

With the speed at which technology is moving, companies are finding themselves armed with more data and possible touch points than ever before. It can be challenging to keep up with the latest trends in customer experience, yet not doing so can result in losing prospects to competitors who are more informed on new experience channels and how they work to enhance the customer journey. On our Movers & Shakers podcast, we like to ask our guests,...