Driving Relevant Messaging Using Voice of The Customer

Today’s first digital banking landscape requires institutions to meet high customer expectations. To maintain competitiveness successful financial institutions must go beyond traditional service models and listen more intently to what their customers are saying.

Banks can accomplish this objective by leveraging the voice of the customer (VOC) to identify drivers of satisfaction and loyalty. Moreover, VOC pinpoints the necessary actions institutions should take regarding their brand, products, services, and transactions throughout the customer journey. A key component of VOC starts with asking customers the right questions so institutions can gather valuable feedback. This feedback can be interpreted to provide actionable insights for a bank’s customers.

To increase relevancy, segmentation can be used to match engagement plans to customers that are similarly situated. VOC engagement content can be based on customer patterns, similar market segment patterns, and individual customer needs.

Part of a successful VOC program involves asking relevant questions to gather feedback through relational, transactional, and clarifying intent surveys. These surveys can relate to trigger events. For example, if a customer is in the early stages of product research, the survey may prioritize clarifying the customer’s intentions. During the fulfillment stage, another customer may be asked transaction-specific questions after an account opening, focusing on success and satisfaction with the process.

This approach serves as an integral part of an effective VOC program. By listening to key touchpoints, showing sensitivity to customer’s environment, and driving timely actions ensure institutions stay abreast of expectations and prioritize customer experience in today’s digital consumer landscape.

For more information download our interview: Listening to the Voice of The Customer.