Financial industry executives are becoming increasingly aware of the role a quality customer experience has on their bottom line. Gone are the days when customer service could almost be treated as an afterthought. More competition and less loyalty mean financial institutions have to work harder to retain customers, and that means providing a quality experience, one more tailored to individual needs.
But before services can be tailored, financial institutions need to know what those needs and preferences are, Ed Burek explained. Mr. Burek is the director of SiteSpect, a company that works with digital businesses to create a customer experience that improves revenues, reduces costs and mitigates risk.
Those three factors are important and need to be clearly measure so the client can determine their return on investment. That means the client has to conduct detailed testing of their website and mobile capabilities if it truly wishes to optimize the omnichannel customer experience. SiteSpect assists by delivering more relevant, interesting and personalized content across all channels, optimizing all functionalities including new feature releases, search algorithms, pricing and shipping, process flows and site redesigns, and generating actionable insights into customer behaviors and patterns in real time.
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Testing across the system can help a company prioritize where to concentrate their investment, Mr. Burek explained. The mainframe may be working fine, so the challenge becomes how to build the customer experience on top of it, for example. As more customers choose a mobile experience testing can reveal the best processes so the right outcomes can be provided.
“We allow companies to disrupt themselves with a safety net,” Mr. Burek said. “We consistently marry outcomes and expectations while constantly measuring those.
“If it’s not consistent, by the time something goes wrong you’ll be asking what happened.”
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