How can you improve if you don’t know where you stand?
Nothing new here – we all know the customer landscape is changing. Gone are the days where every interaction was done in person, with a handshake and a smile. Now your website does the talking for you and mobile apps are closing the sale. With so many channels, and so many customer touch points, do you know – I mean really know – what it’s like for your customers to do business with you? If you don’t, your business could be in danger.
It is shocking how few companies not only lack a current state perspective, but also a prioritized plan to improve their customers’ experience. I believe this is the result of companies being unsure of how to (1) simply and quantifiably measure the customer experience and (2) evaluate the multi-channel customer experience without spending 6-12 months doing so.
To solve this challenge, we created a scoring model that quantifies the customer experience based on one measure – effort. At the end of the day, if you aren’t easy to do business with, all the bells and whistles you offer your customers won’t matter. Our Customer Effort Scoring assessment measures the effort it takes to interact with an organization at each touch point: in-person, online, mobile, contact center, etc. Next, we benchmark industry standards based on these results, provide organizations with insight into where they stand and define a clear road-map for how they can improve.
West Monroe’s Customer Experience team recently completed an in-depth Customer Effort Score initiative where we evaluated a selection of banks on their cross-channel customer experience. From this, we developed critical insights and identified key trends that have a big impact on how banks interact with their customers today – for better or worse – and what they should be doing to remain competitive.
Over the coming weeks we will be sharing these insights and trends with you through a series of blog posts. In an economy where “Customer is King”, you can’t afford to not understand your customer’s experience.