Disconnected customers journeys are not compatible with customer satisfaction and loyalty.
Banks are thus forced to hunt for a unified platform that identifies and optimizes end to end customer journeys. You need to have a loyalty platform provides a perspective on where the value lies in individual technologies, journey stages and operational capabilities. Mapping the right stages on a customer’s financial buying journey will help set the right priority for solving important gaps and taking advantage of new revenue opportunities presented.
Customer experience trumps price and product as the main differentiating factor in digital banking.
Following are some of the key steps in the digital customer journeys mapping:
1. Connecting the journey to the individual customer
Focusing only on individual customer touch points isn’t enough. Understanding customer’s end-to-end journey experience will help brands to improve their performance by looking at these end-to-end customer experiences from customer’s point of view. These journeys can be across multiple channels, touch points and that’s where complexity starts.
Visualize how different journeys can affect a customer. Anticipate the needs and expectations of customer and prioritize processes that deliver instant fulfilment along with better experience to customers. This can be achieved with innovative digital customer journey designers of LOYALTYNEXT.
2. Identify moment of truths
Digital journey mapping will help firms to identify moment of truth. These are instances where the customer expereince changes from good to poor or worse. It can be due to irrelevant application forms, unsavory messaging and disconnected journey processes. Mapping the customer experiences will help bankers to mitigate negative expereince and boost positive ones.
3. Unravelling buying personas with customer 360-degree intelligence
No two customers are the same. You can leverage customer journey mapping to improve customer experience and more importantly, personalize the journeys down to the level of one unique customers. With the preferences captured on a holistic customer 360-degree, you can build multiple customer personas and map the digital journeys within context of those personas. Intelligent digital journey designers can help financial firms to proactively segment the target audience and boost acquisition or retention campaign effectiveness.
4. Shifting from inside out to outside in view
Inside out refers to business view. Outside in view refers to cusotmer view. Your business will be adept at inside out view. However, for bringing out true digital journey transformation, you need to shift to outside in point of view i.e the customer’s view point. This will ensure that gaps are filled and all journey points are visible and linked appropriately.
For instance, the credit application customer journey will not about ‘getting a loan’, but about ‘buying a house or a car’.
When number of touchpoints increase, the complexity of processes will increase as well. Your business will need to map the customer journey such that it will predict where the challenges can be faced by customers and accordingly the actions can be taken in advance. So when youoptimize customer journey, it will automatically improve the customer experience and there by customer loyalty as well.