Customer Experience A Competitive Weapon
A few months old, important nonetheless. A recent survey by Forrester and American Banker Magazine indicates that 97% of banking executives indicate that focusing on customer experience is important to competitiveness over the next three years. A great way to think about customer experience? It’s a production, just like a movie. Successful firms practice “experienced-based differentiation” (Read a summary of the Forrester Report) based on three key areas. Obsess about customer needs, not product features, says Forrester analyst Peter Kim. His examples, Disney mobile, with plans designed for the family and Geek Squad . Reinforce brands with every interaction, not just communications. I.e. make promises and keep promises. For example, Westpac Bank. Treat customer experience as a competence, not a function. British sandwich chain Pret A Manger has some innovative ideas in this space. Take the experience-based differentiation self-test . Consider hiring a Chief Customer Officer . Start a customer listening/VOC program .