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Identifying Best Practice Channel Customer Experience

Here is a presentation I gave at Customer Experience Sydney last week on identifying best practice customer experience across channels. More notes and explanation to come this week.

Credit to David McQuillen, the most awesome of CX gurus, for the use of some of these images.

Here is the guts of the presentation

7 Current Challenges in Multi-Channel Management

  1. Competitors are always moving forward
  2. Channels are changing, growing, moving
  3. Managing these channels takes increasingly specialised – and rare – talent
  4. Now that many products and services are being commoditised, innovation is critical
  5. Technology presents opportunities and threats
  6. You’re people are the variable, and the key
  7. Is best practice really achievable anyway??

7 Ways To Achieve Best Practice

  1. Maintain the brand through every interaction
  2. Live the end-to-end customerjourney
  3. Leverage integrated or single platform technology
  4. Get your channel balance and mix right
  5. Understand the importance of design
  6. Do it better, or differently, or preferably both
  7. Be selective in what you want to be famous for
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Newspapers seen as the most trusted media source

From The Australian:

AUSTRALIA’S newspaper industry will position itself as the most trusted media and the one with the greatest attention of its users, following the release of ground-breaking research. The Newspaper Works, the industry body created 15 months ago by Australia’s major newspaper publishers, today releases the first major report to clearly define newspapers’ role, relevance and impact in the changing media landscape. The study, conducted by Celsius Research and The Leading Edge late last year, shows that Australians are most likely to engage with newspapers as they are “absorbing, dynamic and reputable”. “no other medium can offer the reputation, the involvement and the dynamic nature that newspapers have in the one medium, so we think it’s a powerful position for newspapers to be able to adopt.” Newspaper Works CEO Tony Hale said. “Ninety per cent of people pay full attention when they’re reading a newspaper, compared with 50 per cent for TV.”

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ABA offers a range of stats

The ABA site offers a range of high level industry stats on accessability (a good one), community involvement, competition, fees, profits, and a section called New Ways of Banking which details electronic banking and other new forms to interact with your finance. Another page of interest is titled ABA’s Accessiblity of Electronic Banking – a set of industry standards that includes action plans. A good resource for all your business cases out there.

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Generations clash over bank channel preferences

From Finextra:

“US bank customers under the age of 34 prefer the anonymity of banking by laptop to the in-person branch banking experience, according to a survey conducted by the American Bankers Association.

The annual survey of 1000 consumers, conducted for the ABA by Ipsos-Reid asked questions designed to take a snapshot of current consumer trends. When consumers were asked what banking method they use most often, respondents put branches out in front at 36%, followed by the online channel at 23% and ATMs at 21%, with telephone (five percent), and mail (eight percent) bringing up the rear.

However, the survey found strong generational differences in consumer preferences. While banking at a local branch was the clear favourite of nearly half of those over the age of 55, only a quarter of under-34s used the branch on a regular basis. In fact, younger customers ranked branches behind online banking (30%), while older customers rated the branch (47%) and ATM (17%) far ahead of banking by PC (13%).

Edward Yingling, ABA president and CEO, comments: “We are continuing to find that while our younger consumers feel comfortable banking from their laptops, traditional services are still preferred by many. This is why banks are trying to offer a variety of banking options in order to meet all of their customers’ needs.”

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UK banks providing second rate online customer services

From Finextra:

“Despite the millions invested by banks in the Internet channel, clients still find it quicker to call contact centres for basic information, according to a UK study conducted by Cambridge-based Transversal.

The annual research measures customer service by searching for answers to ten common sector-specific questions on the Web sites, via e-mail and contact centres of ten major UK banks.

The study found that bank sites could only provide answers for 50% of routine questions asked online, with the majority relying on static and complex FAQ pages rather than interacting with customers to deliver the right answers through the right channel.

Around a third (30%) of sites struggled to answer more than two out of ten product and service questions – while only one scored top marks.

Customer service was even worse for those trying to get answers from banks via e-mail, says Transversal, with a almost third (30%) of the banks surveyed still not offering the facility to e-mail questions. Of those that did, the average reply time to an e-mail was 30 hours – and even then only three out of ten satisfactorily answered the question, so customers would still need to contact a call centre for the information.

In contrast, the study found that 60% of customer service calls to a contact centre were answered within three minutes, with the shortest wait times being just a few seconds. During the busiest time in the evening, some longer wait times of between six and 15 minutes were experienced, but overall answer times were less than four minutes.”

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This interesting report on Web 2.0 also comes from Traversal:

Web 2.0 Powers Revolution In Customer ServiceInteraction and personalisation creates new communication channels, but also potential pitfalls, believes Transversal.
The advent of Web 2.0 technologies provides organisations with the ability to radically change how they interact with their customers, dramatically improving service levels and consequently increasing sales. This is the view of web self-service leader Transversal (www.transversal.com), which has created a top 10 guide to help companies embrace areas such as two way interaction, personalisation, RSS feeds and blogs to get closer to customers.

Web 2.0 is the umbrella term for new technologies and techniques that enable users to drive greater personalisation and interaction with web sites. Examples include social networking sites such as YouTube and MySpace, blogging and wikis. The challenge for organisations is selecting and implementing the right Web 2.0 techniques to positively enhance their brand and sales.

“The advent of Web 2.0 opens up communication between organisations and their customers, enabling unprecedented personalisation as users drive how they interact with brands of all sizes,” commented Dee Roche, head of marketing, Transversal. “This is the perfect opportunity to increase customer satisfaction and interaction. Customer service departments should be at the forefront of adopting Web 2.0 techniques and use them to build stronger relationships based on listening to customers and responding to their needs.”

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And this one on Record numbers of customers moving to self-service:

Record Numbers of consumers turn Web self-service for answers

The web is becoming a primary customer service channel for businesses as more consumers shop and access information online, according to Transversal.

Transversal’s Web Self-Service Index has highlighted a sharp increase in the number of consumers asking questions through web self-service systems to obtain customer service information. In the quest to avoid calling or emailing contact centres, the amount of customers turning to this channel for faster responses to questions has risen 224 per cent from 2004 to 2006.

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Slight conundrum there – customers are moving fast to web self-service, but not getting the right answers and having to call contact centre.

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McKinsey – Bank branches that meet customer needs

McKinsey Quarterly have produced this report – Bank branches that meet customer needs -

“Banks in Europe and elsewhere agree that branch networks will long remain the cornerstone of their retail distribution strategy. Yet many seem disenchanted by the payback on their efforts to breathe new life into brick-and-mortar outlets. Few can demonstrate that these investments are yielding tangible economic benefits.

The problem arises when banks adopt an intuitive design approach that emphasizes aesthetics and expensive format changes, overlooking the customer’s needs.

Instead, banks should put utility before appearances, favor lower-budget tactical adjustments, and use branch formats to manage customer visits actively. “

For Premium Members.

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