1CUSTOMER ENGAGEMENT AND EXPERIENCE MANAGEMENT

FOR BANKING

INDUSTRY

2In the age of digital media, providing

seamless customer experience is a

challenging task. Unlike traditional media

where the communication was primarily one

way, has changed lately to being more

conversational. And brands no longer have

control over these conversations.

This paradigm shift demands a new way for

managing your customer engagement and

experience. It has become a priority for

every brand to develop an effective

customer experience management program

and measure its success.

Customer experience is more than just

customer feedback. It is about

understanding their journey and gaining a

360 degree view of every customer.

365%of organizations have a formal CRM program in place.Source: The Service Council

4Loyaltygives you the right to win

more businessbut you do have to ask for the sale.

Source: Bain and Company research on Global Banking Industry.

5Successful Customer Engagement and Experience Management enables the

bank to increase their customer loyalty.

65major aspects of Customer Engagement

and Experience Management.

Customer Satisfaction

Customer Retention

Customer Loyalty and

Advocacy

New Customer Growth Customer Sentiment

Continuous monitoring of customers loyalty enables banks to reach out to their customers with targeted communication.

Keeping track of existing customers tendency to shift banks could help

banks carry out pre-emptive measures.

Regular reach out program must be carried out to understand the

customers satisfaction level.

Monitoring customers voice on social media can help banks be

aware of their brands perception.It is vital to measure the new customers growth to understand the performance of the CEEM program.

7Customer Feedback ManagementIt is vital to have an integrated customer feedback system that can gather feedbacks from websites, social media, various touch points.

Cross-Functional CollaborationCustomer experience is not just about engagement with customer support agents, it transcends across your product, marketing, sales, service and support. Hence the system needs to be a collaborative platform.

Customer AnalyticsUnderstanding your customer from every angle is vital to deliver personalized experience with the brand.

Customer Experience DesignIn order to deliver the best experience, the brand needs to test and iterate various strategy across multiple channels and measure their performance.

Customer Insights and

performance reportingRegular measurement and reporting of customer insight and the performance of your program is essential for the success of the program.

5Main components

of Customer

Engagement and

Experience

Management

8Typical Customer Voice

break-down from a banking industry.

Understanding customers voice on social media can help banks prioritize their Customer Engagement and

Experience Program.

9Customer Experience

Manager Control Understanding customers voice on social media can help banks prioritize their Customer Engagement and

Experience Program.

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80%Reduction in the first response time on social media. A leading bank uses Simplify360 to achieve this.

Source: Simplify360 Customer Case Study

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Simplify360Customer Engagement and Experience Solution

FOR BANKING

INDUSTRY

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Enables organizations to monitor all social media channels for customer voice.

Enables organizations to capture feedback from websites through form fill.

Design customer surveys to understand customer's satisfaction.

Customer Feedback

Management

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CRM Integration Enables organizations to connect with any

customer's core database system or marketing automation tools.

In-built workflow and routing feature to manage customer feedback across the organization.

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Customer Experience

Designer Enables organizations to manage all

their content across multiple social media channels.

Multi-channel engagement across social media platforms.

Measure performance of your marketing campaigns and optimize them.

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Customer Insights

Dashboards Monitoring all the social media conversations

and derive trends and insights.

Segment customers voice into various units to measure the customer experience metrics.

Carry out 360 degree profiling of your customers to deliver targeted communications.

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For more details about Banking Solutions,

Click here

Visit: www.simplify360.com

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