InMoment XI

OCTOBER 23, 2024

It’s no longer enough for banks and credit unions to simply provide financial services. Customers expect to walk into a branch and want to immediately feel valued. Needless to say, providing a memorable customer experience in banking should be a top priority for all financial institutions.

Banking 195

Banking Customer Experience Financial Touchpoint 195

eglobalis

DECEMBER 11, 2024

By measuring how much effort customers must exert to resolve an issue or complete a task, companies can identify pain points and optimize processes to enhance CX. Retention Rate Monitoring customer retention rates helps gauge the long-term impact of CX experiments.

Insights 358

Insights Customer Journey Mapping Omnichannel Effort Score 358

Customer Bliss

JUNE 23, 2016

I talk often about customer experience , but recently I’ve heard from some followers that they’d like a bit more on customer retention. The first thing to understand about customer retention is that obviously it comes straight from customer experience. Five steps for regaining customer trust.

Customer Retention 173

Customer Retention Customers ROI Sales 173

eglobalis

JANUARY 20, 2025

While customer experience (CX), product design, and delivery are critical factors, the underlying success stems from a comprehensive understanding of client needs and a commitment to exceeding expectations. Companies that align their pricing strategies with the value they deliver often enjoy stronger customer retention.

B2B 423

B2B Loyalty Workshop Loyalty Programs 423

eglobalis

MARCH 30, 2025

Crucially, it can highlight why customers feel that way by extracting common themes. financial institution, realized that surveying only a handful of customers left them in the dark about most interactions. Real-world deployments show the impact. Fifth Third Bank, a U.S.

Banking 317

Banking NPS B2B Social Media 317

InMoment XI

OCTOBER 24, 2024

Improved Customer Loyalty Customer engagement platforms increase customer loyalty by making the customer experience engaging and consistent throughout the whole customer journey. Research shows that loyal customers are 64% more likely to make more frequent purchases from your business than regular customers.

Customer Engagement 195

Customer Engagement Engagement E Commerce Omnichannel 195

ReviewTrackers

MARCH 24, 2021

Bank Customer Retention: Why It Matters. You’ve probably heard this more than a dozen times: retaining a customer is so much cheaper than acquiring a new one. This holds true for banks and financial services providers, too. 80 percent of consumers would switch financial institutions for a better experience.

Banking 123

Banking Customer Retention Customer Experience Financial 123

eglobalis

AUGUST 13, 2024

Background on Samsung and Apple To fully understand how Samsung and Apple differentiate in customer experience, it’s essential to delve into the backgrounds of these two industry titans. Here, we provide an overview of their corporate structures, leadership, and financial performance.

E-support 509

E-support Innovation Customer Centricity Loyalty 509

Experience Investigators by 360Connext

DECEMBER 10, 2024

Defining What Customer Experience ROI Looks Like There are countless ways to show the value of your CX efforts. Prioritize the onboarding and new customer experience. Speak with new customers to understand what support they need and identify how you can improve their experience to make it better.

ROI 143

ROI Customer Experience Touchpoint Customer Journey Mapping 143

InMoment XI

JULY 14, 2022

And while they faced an immense challenge, the retail leader also saw an opportunity to emerge into a post-COVID world equipped with reliable data that would revitalize its customer experience, improve customer retention, and solidify brand loyalty. That’s when they turned to their team at InMoment. The Impact.

Feedback 397

Feedback Retail Metrics Customer Retention 397

InMoment XI

AUGUST 18, 2022

Evaluate and demonstrate results of experience initiatives including organizational change, improved metrics, and financial impact while determining appropriate next steps. Additionally, if there is too much focus on the financial drivers of the past, there isn’t much room to ideate, test, and implement financial drivers for the future.

ROI 418

ROI Customer Experience Webinar Financial 418

InMoment XI

NOVEMBER 18, 2024

By understanding customer motivations, your business can make decisions that lead to higher customer satisfaction , loyalty, and profitability. Improved Customer Retention It is no secret that retaining customers is more cost-effective than acquiring new ones.

Customer Journey Mapping 195

Customer Journey Mapping Social Media Customer Journey Competitive Advantage 195

InMoment XI

OCTOBER 30, 2024

Life insurance customer experience : Life insurance customers need clear, simple communication about policy terms. They expect personalized financial advice and a smooth application process to build trust. A positive customer experience fosters trust and satisfaction.

Insurance 195

Insurance Customer Satisfaction Customer Experience Multi-Channel 195

InMoment XI

NOVEMBER 7, 2024

Customer Experience Automation Examples Here are some industry-specific examples of customer experience automation: E-commerce : Automated cart abandonment emails that include a personalized discount, encouraging customers to complete their purchases.

Customer Experience 195

Customer Experience 2024 E-support Touchpoint 195

SurveySensum

DECEMBER 4, 2024

What is NPS in Banking and Other Financial Institutions? In banking, it is crucial to gauge customer satisfaction and loyalty. Now, let’s move on to the next part, where we’ll discuss why having loyal customers is such a big deal for banks and other financial services. Let’s start with the simplest one.

Banking 52

Banking NPS Financial Net Promoter Score 52

InMoment XI

MAY 18, 2022

Instead of relying solely on direct surveys, brands can do this by combining survey listening with other sources of data , like your employees’ perspectives, and putting it against a backdrop of financial and operational information. Want to learn more about improving customer retention?

Customer Journey 397

Customer Journey Touchpoint Customer Retention Banking 397

InMoment XI

DECEMBER 10, 2024

How to Use NPS to Reduce Customer Churn Net promoter score (NPS) is a valuable metric for understanding customer loyalty and reducing churn. It categorizes customers as promoters, passives, and detractors to highlight the likelihood of customer retention. Customer Retention Versus Customer Acquisition ( [link] ).

2024 195

2024 ROI Net Promoter Score Multi-Channel 195

InMoment XI

OCTOBER 29, 2024

To see how you could maximize your business revenue and ROI with InMoment’s voice of the customer (VoC) tools, fill out the ROI calculator below! These actions add a personal touch, which creates stronger customer relationships. How Do You Measure Customer Loyalty Analytics?

Loyalty 195

Loyalty Net Promoter Score Social Media Loyalty Programs 195

eglobalis

OCTOBER 1, 2024

Each team is aligned to improve customer satisfaction, and no department is left behind. To facilitate collaboration between CX (Customer Experience) and Finance, the company can set a shared KPI related to customer retention rates and link it to financial performance metrics.

2020 446

2020 Customer Journey Mapping Culture Innovation 446

InMoment XI

NOVEMBER 9, 2021

An example of a program goal could be: 20% increase in customer retention, 10% reduction in cost to serve, +10% increase in revenue per store year on year. Decide which initiative you will tackle first—will it be customer retention, reducing costs, cross- or upselling, or customer acquisition?

Roadmap 370

Roadmap Customer Experience Customer Retention Download 370

Ecrion

JULY 23, 2020

Many brands place a heavy emphasis on customer acquisition in order to increase their sales numbers. But, customer retention is something just as important. After all, a company isn’t likely to survive if it essentially has a revolving door of new customers. Provide Stellar Customer Service. Stay in Touch.

Customer Retention 102

Customer Retention Loyalty Programs Loyalty Social Media 102

Blueshift

FEBRUARY 28, 2025

Its customer retention. Think about it: Knowing how to reduce customer churn is just as vital as acquiring them. It captures the genius of Steve Jobs, the visionary who redefined Apple and revolutionized the way we interact with technology. But how many of us truly understand the depth of his insight? The answer?

Financial 66

Financial Social Media Customer Retention Loyalty 66

Experience Investigators by 360Connext

APRIL 23, 2024

Prioritizing the right CX management not only helps in retaining customers by improving their experiences, but also enhances the overall brand image and increases profitability. Some organizations find that focusing on retaining customers in volatile times can provide more revenue than sales. For now, let’s help you make your case.

ROI 260

ROI CEM Net Promoter Score Customer Experience 260

Hello Customer

JANUARY 16, 2020

January typically is a month to forecast trends, and we believe customer retention will be an important one. But we see increasingly more organisations move their focus from aggressive acquisition investments to retention management. Customer retention or acquisition? On top, new customers often get more benefits.

Customer Retention 92

Customer Retention Fashion Customers NPS 92

Kustomer

JUNE 7, 2023

The time has come for financial services organizations to move from a transactional mindset to an engaging mindset. Customers want to feel financially confident, including having trust in their financial institutions to work in their best interests, and they expect service to be streamlined and personalized.

Financial 94

Financial Banking Social Media Customer Satisfaction 94

InMoment XI

AUGUST 19, 2024

Customer Experience ROI is a critical metric that measures the financial impact of enhancing customer experiences. By improving customer interactions, businesses can see tangible benefits like increased sales, improved retention, and heightened customer loyalty. Why is Customer Experience ROI So Important?

ROI 195

ROI Customer Experience Net Promoter Score Telecommunications 195

BirdEye

SEPTEMBER 8, 2023

Financial services companies, like investment firms, banks, and insurance agencies, operate in a landscape where trust and credibility are paramount. Here are five tips to help you master online reputation management in the financial services sector. Reputation management: Why is it important for financial services?

Financial 105

Financial Management Social Media Banking 105

InMoment XI

JANUARY 12, 2023

For several years, it was also one of four economic pillars (along with customer acquisition , customer retention, and lowering cost to serve) my colleagues and I used to frame customer experience (CX) programs for our clients.

Social Media 397

Social Media Customers Connections Customer Retention 397

ShepHyken

NOVEMBER 12, 2024

I was recently hired as a keynote speaker to talk to a group of financial advisors about client service. The most obvious reason might be that the financial advisor gave bad advice, and the client lost money. One of the topics of the meeting was a discussion about why a client would leave. I did further research to confirm.

Return on Investment 101

Return on Investment Financial Workshop Customer Service Training 101

Comm100

FEBRUARY 6, 2023

To drive business, attract new clients, and retain existing ones, financial institutions must invest in improving their customer experience. Enhancing your customer experience is important not just because it will increase customer loyalty and satisfaction but because customers also expect it.

2023 97

2023 Financial Blog Customer Experience 97

InMoment XI

APRIL 5, 2022

What is the future for employee and customer experience trends in banks, wealth advisory firms, and credit unions? InMoment recently dove into the financial services industry’s 2022 outlook—and there’s a lot to unpack. Employee and Customer Experience Trend #2: Focus on Both Digital and In-Person Interactions to Serve All Customers.

Banking 221

Banking 2022 Customer Experience Financial 221

Kustomer

SEPTEMBER 1, 2023

Successful organizations today are those that prioritize providing excellent experiences for customers. For financial services organizations in particular, building trust with customers and providing them with human-first customer service makes a significant impact in garnering loyalty and repeated use of products and services.

Financial 91

Financial Omnichannel Loyalty Information 91

GetFeedback

MAY 9, 2019

You can prove an increase in revenue through customer retention and sales optimization. . Customer retention: It’s easier to sell to existing customers than generating new business. And focusing on retaining existing customers is smart given that loyal customers spend 67% more than new ones.

Article 337

Article Customer Experience Metrics Customer Journey Mapping 337

eglobalis

JUNE 27, 2024

Customer Satisfaction (CSAT): Measures how satisfied customers are with specific interactions, products, or services. Customer Lifetime Value (CLV): Estimates the total revenue a company can expect from a single customer account throughout its relationship. Samsung often does that.

Customer Experience 455

Customer Experience Customer Centricity Net Promoter Score Government 455

eglobalis

OCTOBER 9, 2024

Will this new feature attract more business or improve customer retention? Will it enhance customer satisfaction and the overall experience? Feature development requires time, manpower, and financial investment. Challenges : Balancing internal resources with customer expectations is always a challenge.

Feedback 513

Feedback ROI Innovation B2B 513

InMoment XI

NOVEMBER 9, 2021

An example of a program goal could be: 20% increase in customer retention, 10% reduction in cost to serve, +10% increase in revenue per store year on year. Decide which initiative you will tackle first—will it be customer retention, reducing costs, cross- or upselling, or customer acquisition?

Roadmap 259

Roadmap Customer Experience Customer Retention Download 259

Totango

FEBRUARY 9, 2022

One of the most basic factors that can influence contract renewal is simply whether or not the customer remembers that it’s time to renew. Automated procedures also may be set up to reach out to customers who fail to renew. For companies, making renewal easier for customers increases retention, thereby increasing revenue.

Customer Retention 100

Customer Retention Financial Customers Technology 100