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As a growing number of businesses begin competing more on Customer Experience and less on price, we expect to see a shift in the mindset of companies. Whereas in the past, Customer Experience might have been the responsibility of a single person or department, we fully expect to see responsibility spread and take hold across the entire organization. This seismic shift means that there will soon be more individuals involved in influencing the Customer Experience than ever...

Over the last decade, the role of Chief Marketing Officer has rapidly evolved. New technologies allow for better personalization, which 86 percent of consumers say play a role in their decisions to buy. Traditional marketing approaches—like “spray and pray” tactics where marketers create messages and simply hope their customers will respond—no longer work. Company leadership has taken notice. According to Gartner, a CEOs’ No. 1 priority for CMOs today is to lead customer experience at their...

Remember the movie Back to the Future II? Filmmakers created a landscape of what they thought the world would look like 30 years into the future. They got some things wrong (they were only a year off on their Cubs world series win prediction) and there were other things they got just right. In one scene, Marty McFly talks to his boss on a two-way video chat interface. While the filmmakers correctly predicted that video chat...

A few days ago, Geoff Teehan, Product Design Director at Facebook, posted an update on the UX Fund experiment he and his former company (Teehan+Lax) conducted 10 years ago. For those of you unfamiliar with the UX Fund, it was essentially a stock portfolio comprised of the 10 publicly traded companies that embodied user experience (specifically on the design side) above all else. The experiment consisted of buying $5,000 in stock for each of the 10 companies,...

Automation is the name of the game in 2016. Companies like Domino’s and Macy’s are increasing efficiency by using bots as a part of their customer service process. In fact, you’ve likely interacted with one while trying to reach a desired party through an automated phone system. Through an Interactive Voice Response (IVR) system, callers can often access the information they desire without having to talk to a real person. Before you start worrying about bots...

According to the most recent Accenture Global Consumer Pulse Survey measuring the experience of 24,489 customers in 33 countries across 11 industries, “52% of consumers have switched service providers over the past year due to poor customer service”. In the United States alone, Accenture claims that the estimated cost to companies for customers making this switch is $1.6 trillion in lost revenue. But, what do these customers mean when they cite poor customer service as the reason...

Retail banking (or consumer banking) accounts are a large part of any bank’s portfolio. While corporate accounts come and go with the ebb and flow of today’s market, consumer accounts can be relied upon to provide stability for a bank through the ups and downs of an ever-changing economy. BAI  claims that “For most banks, their retail franchise is the most valuable part of the company.” For this reason, it is no wonder that there is so...

Over the past few years, fintech has disrupted traditional financial services by putting customers first. According to a PwC report, 53 percent of financial institutions see themselves as customer-centric compared to more than 80 percent of fintech companies. As one global banking executive says, “We thought we know our customers, but fintechs really know our customers.” Emphasizing a seamless customer experience is growing even more important as services become more automated and individualized. Here are a handful of...

Earlier this month, Apple opened a new branch of its retail stores in southern Manhattan. Apple World Trade Center welcomed huge crowds of zealous fans and customers, elated at the chance to sample the newest offering from the company. Considering the hype and magnitude of runway for any new Apple product, the enthusiasm displayed at the grand opening wasn’t unexpected. The cheering crowds, meticulous building architecture, and grinning employees remained synonymous with the brand. Only one thing...

These days, consumers are becoming more and more connected to non-stop content that is based on their personal preferences. This flow of information spills out to people on their phones, tablets, and other machines. To get access to these data-driven solutions, customers must provide personal information. It’s easier for users to give up personal details when they trust the names of the providers. Names like Siri, Alexa, and Cortana would have seemed like characters in a Greek...