Managing a better customer journey begins with leveraging technology solutions that prioritize stages such as awareness, consideration, decision making, servicing, and retention. For example, digital marketing solutions require digital sensory technology for detecting customer needs, intent, and propensity based on website navigation and time on page to engage during the early awareness and consideration stages. With the industry experiencing an 80 percent abandonment rate, automation and rapid response can help convert up to 30 percent of these otherwise missed opportunities.
Adopting a goal-centric personal financial planning application enables financial institutions to target customer needs during the consideration and decision-making stages. Customer self-service and employee-assisted Omni fulfillment provide essential customer satisfaction benefits of both convenience and assistance, reducing potential friction and abandonment loss during the decision stage.
Additionally, automated online customer questionnaires and error detection support the service stage by providing early warning mechanisms for potential customer dissatisfaction. Gaining feedback triggers human or automated campaigns depending on customer needs and opportunity value, proactively initiating outreach needed to increase satisfaction.
Effective solutions also implement Customer Relationship Management (CRM), that stores prospect and customer data and provides a 360-degree view of customer contact and activity. CRM supports all customer journey stages by ensuring relevance and effectiveness of customer engagement for the lifetime of the relationship.
For more information, download the Acquiring Customers and Fulfilling Their Needs in an Omni-Channel Environment interview brief.
