You’ve got brand. You’ve got customer and member experience. But are you focusing enough on the link between the two?
We’re talking bridges here, folks. And joining us to offer his expert advice on what steps financial institutions can take is Co-Founder and President of InnerView Group, Chris Wallace—this week on CRMNEXT’sBanking on Experience.
Biggest misconceptions about experience in the financial world.
Chris believes the biggest misconception is the idea that the digital realm is the cornerstone of experience. Yes, it’s a huge enabling factor. But, in his words, “The core of the experience is human. The human connection still has to be the backbone.”
The role that brand plays.
There are some fascinating points made in this section of the conversation, but to sum up: Brand is the promise you’re making to your members or customers; Experience is keeping it. And the two are “inextricably linked.”
Measuring experience: foundational steps for FIs.
Our expert admits that measuring experience can be tricky. “More than anything,” he says, “You have to measure something. You have to have some standard that you’re working from. It allows you to set the bar for yourself and to compare yourself to your peer set. And I think in the banking space, NPS or Customer Satisfaction (CSAT) will probably be the two biggest standards.”
Chris discusses ways to take it beyond just these scores as well, and there’s some great info you’ll definitely want to tune in for.
How your FI can manage branding experience more effectively.
Chris puts it simply: “Look at the connection points of human and digital. Look for ways to innovate and have those be human first and digitally enabled.”
Who owns experience in your org.
Our expert 100% believes that marketing owns the customer or member relationship. With all the data marketing has access to, the experience can be more efficient, more effective, and induce those true wow moments.
And the importance of making sure that data is shared – particularly to frontline teams – cannot be emphasized enough. Give your customer-facing staff the tools that empower them to feel confident in the experience they deliver. In Chris’s words, “That’s where brand promise and brand experience come together.”
Chris believes technology plays a role in everything. But he believes it’s the enabler – NOT what drives the experience. As he says, “It’s the backbone on which the experience rests.”
He once again points to that essential human factor and advises, “Always look at ways to use technology to make things more human.” Good advice, indeed.
Want to contact our expert?
You can find Chris on LinkedIn or email him at email@example.com. And be sure to check out both Innerviewgroup.com and brandtransferstudy.com to learn more.
Find this interview, and many more by subscribing to Banking on Experience Podcast on iTunes. You can also find us on Spotify, Google Podcasts, or visit our page on Casted.