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Optimizing High-Value Customer Journeys: The Case of Banking

The New Role of Documentation

Given a choice, would you rather go to the dentist, or listen to what your bank has to say? In an exhaustive study of 10,000 millennials in the U.S. (defined as those born between 1981 and 2000), Viacom Media Group found that seven out of ten respondents preferred a session in the dentist’s chair. Banks need to get digital engagement right – or risk going the way of the dinosaurs. What determines success or failure? In this paper, Tim Walters identifies one prominent misconception that gets in the way of successful customer experience management (CEM).  This misunderstanding concerns the difference between the overall customer lifecycle and customer journeys. Tim suggests that instead of trying (impossibly) to manage the entire lifecycle, you should aim to optimize the key high-value customer journeys.

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