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2022 Banking Outlook

West Monroe

It is also assumed that M&A will be a hot topic in 2022 as banks look for new growth opportunities and to increase the speed at which they can invest and scale their technology platforms. Payment and monetary disruption: the rise of crypto in mainstream banking. This outlook will not include an analysis of M&A trends.

Banking 52
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AI in CX: How to Incorporate AI in Customer Experience to Elevate Your Business

SurveySensum

For example, if a customer wants to exchange an online purchase but finds the shipping time too long, they can do it at the nearest retail store, since AI integrates customer data from multiple channels. Segment Customers AI can help you deliver highly personalized customer experiences through segmentation.

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Referral marketing software for the win: Our top 20 picks

BirdEye

Referral marketing is a strategy that encourages existing customers to refer new ones to your business. It’s an organic way that leverages the power of word-of-mouth — the most credible form of advertising — to grow your customer base.

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Loyalty partners: co-creating customer value

Currency Alliance

If you succeed at this, you will also harness recurring benefits in the form of insightful customer data, which will allow you to market to the mid-long tail more effectively and affordably, and maximize the lifetime value of every customer. The graphic below indicates the categories of spending for many customers.

Loyalty 59
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How Improving Customer Response Time Can Win a Customer

LiveChat

Jack made the transaction, happily and was assured that the bank had meaningful concerns about their customers. Jack remained a loyal customer to the particular bank, onwards. The above cited incident is a conspicuous example in the current customer service environment.

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Understanding Customer Experience Analytics: Unlocking Insights for Success

InMoment XI

A low CES indicates a smoother customer experience, while a high score signals potential areas of friction. Consider a mobile banking app that recently updated its user interface. By implementing CES surveys following the update, the app can quickly identify if customers find the new design intuitive and user-friendly.

Analytics 324
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Customer experience, whose business is it?

Lumoa

Marketing Marketing, which often substitutes or fulfils the role of Customer Experience management, must tailor the customer communications to align with customer segments. In many organizations, marketing has an overall responsibility for the customer experience improvement initiatives and customer insights.