Next Generation: Voice of the Customer

Firms have an unprecedented ability to listen to and understand changing customer needs. Advanced technologies turn unstructured social media posts or contact center transcripts into meaningful and actionable insights. Predictive analytics hone the noise of billions of interactions into signals that can help firms avoid scaling costly mistakes and tap into emerging opportunities.…

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With the First Pick of the NFL Draft… Irrational Economic Behavior

Earlier this month the NFL held their 2015 Draft in Grant Park, Chicago, about one mile from our West Monroe headquarters. With the first pick, the Tampa Bay Buccaneers selected quarterback and 2013 Heisman Trophy winner Jameis Winston. Immediately thereafter, 2014 Heisman Trophy winner Marcus Mariota was drafted as the second pick to the Tennessee Titans.…

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How “Illuminating” is Your Utilities’ Customer Experience? 2015 Customer Effort Index in Utilities Results

In the utilities industry firms are zeroing in on customer experience as a means of predicting and improving customer satisfaction. Their approaches to elevating customer experience vary significantly. We have found that rather than waiting for stakeholders and regulators to force improvements, utilities gain more credibility and support by proactively designing customer interactions to be as...

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How hard is it to do business with your bank? 2015 Customer Effort Index in Banks & Credit Unions Results

In the financial services industry the banking sector is seeing positive yet modest growth, and  many firms are zeroing in on customer experience as a means of fueling growth and competitive advantage. Their approaches to elevating customer experience, though, vary significantly. We have found that rather than simply trying to “wow” customers/members, banks and credit unions can gain more by...

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Happy Cyber Monday! Are you Using Behavioral Economics to Design your Customer Experiences?

Today, Cyber Monday, is perhaps the biggest online and digital shopping day of the year.  But all one needs to do is go to any brick and mortar store on Black Friday to observe that consumers don’t always behave rationally. Companies fail when they assume that customers always make rational decisions or even perceive their experiences logically. …

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How to Beat the S&P 500… Lead at Customer Experience

How to Beat the S&P 500… Lead at Customer Experience

In the movie Wall Street, corporate raider Gordon Gekko (Michael Douglas) interrogates young, upstart stock broker Bud Fox (Charlie Sheen), “Do you know why fund managers can’t beat the S&P 500? “Cause they’re sheep, and sheep get slaughtered!”  However, there appears to be an easy, fail-safe way to consistently outperform the S&P 500 Index without getting slaughtered…invest in a...

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Fun and Gains: Increasing Customer Engagement through Gamification

Gamification is the use of game design techniques, game thinking and game mechanics to enhance non-game contexts.  When executed properly, gamification creates value beyond added entertainment to mundane business processes or even data collection. In fact, the overarching goal of gamification is to provide incentive and therefore inspire change or adoption of behavior.…

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Is Sentiment Analysis the New Customer Insights Gold Mine in Banking? Part I

A common question asked by banking executives in the highly competitive commercial banking marketplace is, “Are we doing a good job serving our customers?”  This can be analyzed in two ways: “Are we doing better or worse than before?”  In other words, how do we stack up in comparison to our past customer experience and service? …

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Re-launched…not quite yet the ‘Big Easy’ for Customer Effort

The Patient Protection & Affordable Care Act’s (PPACA’s) enhancements to’s online marketplace went live on Monday, December 2 – after a bumpy initial launch on October 1.  The website is designed to allow consumers to shop for health insurance plans in their respective state, supporting the 36 states that opted not to develop their own state-level marketplaces.…

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2013 Customer Insights & Experience Diagnostic Survey Results

Many firms believe they are customer-centric and focused on improving their customer experience, but what measurements do they have in place to be sure? Industry benchmarks and best practices vary, and the customer landscape is constantly shifting, so success in this area can feel like a moving target. While some of organizations are realizing results from their customer experience efforts...

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