Open Enrollment: Take Two

Members of the Obama Administration were likely holding their breath recently as they braced for the 2015 open enrollment period to begin on November 15th. Last year’s launch of Healthcare.gov began with the site collapsing on the first day and only six people successfully purchasing an insurance plan. This year’s open enrollment period got off to a better start with 100,000 people...

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If You Want to Control Your Destiny, Let Your Customers Control Theirs

Digital access has increased customer expectations, thereby impacting insurer’s retention rates. In today’s increasingly digital market, consumers want to control their destiny when purchasing insurance policies. In 1995, less than 1% of the world had access to an internet connection. However, the International Telecommunication Union reported that this number has skyrocketed to 40% (3 billion...

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What’s New in Tableau Maps 8.2?

Tableau’s recent release of Maps 8.2 brought a lot of changes to the existing map functionality. What were the changes and why do they matter? The most noteworthy change in Maps 8.2 was the complete switch of how the maps are being provided. Originally, Tableau used Urban Mapping servers to host all their boundary, label and data layers, meaning that if Tableau wanted to make a change in any...

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Do You Like Taking Surveys? (A) Yes (B) No

Tips to Keep in Mind for Deploying Organizational Surveys It seems today that we are constantly asked for feedback, ideas for improvement, and preferences from the companies we interact with. Whether it be post-purchase emails, spam pop-up windows, static feedback links, or “suggestion” adds, organizations are finding ways to creatively engage customers for their thoughts and opinions for...

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Measuring Customer Effort: Key Steps to Drive Customer Experience Success

In many customer-centric organizations, the customer service mantra has historically read: “The customer is always right.” Successful customer experience innovation requires understanding what your customers want and your business needs from the value exchange. This requires acknowledging that not all customers are created equal. The new manta for CX success needs to read: “The customer is...

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Wealth Management – Enriching Service with Every Contact

For those Wealth Management firms focused on high net worth individuals and family offices, “high-touch relationships” are and will remain a cornerstone of the business.  Many of those firms serving clients with $1M and preferably greater than $5M in investable assets are presently setting course to cross the chasm into extending their touch with digital and multi-channel capabilities.…

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West Monroe Partners and BearingPoint Announce New Book, “Darwinism in a Consumer-Driven World”

Customer Experience experts discuss how evolutionary thinking is driving the digital revolution Management and technology consulting firms West Monroe Partners and BearingPoint today announced the publication of their book, Darwinism in a Consumer - Driven World. The book, co-authored by Kyle Hutchins, director of Customer Experience at West Monroe Partners, and Erik Campanini, Digital...

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Getting Started with Sentiment Analysis Part III

In the first two posts of our series on sentiment analysis, we discussed, how to use sentiment analysis to get value from service and how to get a competitive advantage. Let’s spend some time talking about how sentiment analysis works on a functional level. For simplicity sake, we will assume that a model has been constructed that is sensitive to banking terminology.…

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The Internet is a Utility that Retail Banks Should Want

The branch is dead. Imagine a world, not too far from now, where the vast majority of banking occurs digitally via some kind of device, PC, smartphone or tablet., Now imagine that world without net neutrality. A world where the owners of the ‘last mile’ of broadband, the essential, single threaded link between you and your online bank, can accept payment from content providers to control the...

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Gaining clients and staying relevant in a digital world: The future of financial services marketing

Historically banks have leveraged branches as their primary source for client interactions and have trained bankers and tellers with varying levels of success to market and cross-sell their products.  While still applicable, that model is slowly becoming less effective as clients transition from branch banking to more digital channels.  According to the 2013 Teller line study conducted by...

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Email: marketing@westmonroepartners.com
222 W. Adams
Chicago, IL 60606
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