By Siddharth Parashar, Chief Revenue Officer at Firstsource Solutions
Financial services companies are under more pressure than ever before to both defend and gain market share, and with so many businesses in the sector citing ‘customer experience’ as a key focus, or USP in order to win custom, it’s more important than ever that we know exactly what that means.
‘Customer experience’ is a massively catch-all term and it can encompass a vast variety of interactions – from applying for a mortgage to a simple balance check. This means that for many FS companies, there can be thousands, if not millions, of touch-points with customers every day, all contributing to their ‘experience’. Ensuring each and every one is successful is a herculean task. So, where to begin?
Define the customer journey
Banks should look away from this intimidatingly large umbrella term and focus on what’s more tangible. The customer journey is one of the most crucial elements of customer experience – and, getting it right is a significant challenge. A customer’s journey can be long or short, urgent or menial, profitable or loss making – but each one needs due care and attention. Something as small as a phone call to change address can become a negative experience if the customer doesn’t achieve the resolution they are after, or if it takes too long to complete.
In these days where customers extensively use apps and technology in their everyday lives, they are not only extremely well informed, but also impatient for response and…