Beyond Philosophy

OCTOBER 7, 2021

However, customer loyalty necessitates thinking long term. Wells Fargo is a big retail bank in the U.S. Unfortunately, it led to the team signing customers up for things they didn’t want. Customers often didn’t know about it until an additional credit card arrived or the new account showed up in their statement.

Airlines 432

Airlines Banking Accountability Customer centricity 432

Beyond Philosophy

SEPTEMBER 2, 2019

Customer loyalty is more than automatic or indifferent behavior. Understanding Customer Loyalty and the secrets to creating it is vital to your Customer Experience. We discussed the two secrets to Customer Loyalty in a recent podcast. The customer may still shop with you, but not because of loyalty.

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Banking Accountability Customer Experience Consulting 352

Beyond Philosophy

DECEMBER 19, 2016

The other part lies in behavioral economics, which tells us that customers behave irrationally and emotionally. I discuss this in depth in my new book, The Intuitive Customer: 7 imperatives for moving your Customer Experience to the next level , which I co-authored with Prof. Ryan Hamilton of Emory University.

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Sales Banking Customer emotions Education 353

Beyond Philosophy

FEBRUARY 29, 2024

I mention it here, not to rub it in your face (much), but because in the booking of this cruise, I saw an excellent example of how my wife and I leverage mental accounting regarding our splurges. It was our version of Mental Accounting. Mental Accounting ruins all that. People have various rules regarding found money.

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Accountability Finance Banking Management 195

Beyond Philosophy

AUGUST 9, 2017

But is it right for Customer Experience? On the one hand, speeding up service and eliminating mundane tasks to free employees up to do other tasks, like coaching their direct reports, seems like it would be a boon to Customer Experience. Act Now to Turn Customer Pain Points into Pleasurable Profits.

Banking 0

Banking Coaching Surveys Employee engagement 0

Callminer

NOVEMBER 9, 2020

Further, malicious callers can manipulate customer service agents and automated systems to change account information, transfer money and more. Luckily, there are ways to spot inbound call fraud in real time, allowing agents to take back control over customers’ security without jeopardizing the overall customer experience.

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Call Center Banking Contact Center Accountability 345

Beyond Philosophy

JUNE 15, 2023

Forming an attachment is vital, here, establishing an Emotional Bank account. You might remember Stephen Covey, author of The 7 Habits of Highly Effective People, first proposed the concept of the Emotional Bank Account. For example, you have an Emotional Bank Account with the people in your family.

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Banking Construction Accountability Advertising 363

Beyond Philosophy

SEPTEMBER 3, 2020

A friend of mine who is very knowledgeable about Customer Experience said this to me, and I thought, “Bloody Hell! As Stephen Covey says in The Seven Habits of Highly Effective People , you build up an emotional bank account with customers, and when you make a mistake with them, you make a withdrawal from it.

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Beyond Philosophy

OCTOBER 6, 2015

Banks lied to us, nearly crashing the world economy and causing the Great Recession. I had thought the banking crisis was the pinnacle of organizational stupidity but then last week we hear Volkswagen (VW) lost 30% of their value. which accounts for only about 6% of global sales for the brand.

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Beyond Philosophy

SEPTEMBER 13, 2019

This psychological principle could have a significant influence on how customers behave in your Customer Experience. . However, they are only interested in two of the descriptions: Linda is a bank teller. . Linda is a bank teller that is active in the feminist movement. . So, how did you arrive at your number?

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Banking Consulting Consulting Government 325

ShepHyken

MAY 27, 2016

This week on our Friends on Friday guest blog post Shaista Haque writes about a very timely topic, the digital customer experience. Digital experiences are starting to mirror in-person experiences and you better be monitoring your digital customers now! – Shep Hyken.

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Customer Experience Banking Analytics Technology 200

ShepHyken

APRIL 12, 2017

My wife and I were on the phone with our bank. They take care of our checking accounts and credit cards for our entire family, and we were having a problem transferring money from one account to another. Once the customer service representative came on the call, Cindy briefly described the problem.

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Banking Accountability Customer Service Personalization 254

Callminer

FEBRUARY 23, 2021

COVID-19 led to new realizations about how call centers need to operate, including a shift to remote work , system-wide stressors and important shifts in customer experience and service expectations among consumers. Live engagement sets customers at ease. Attention to Detail. Analytics are more important than ever.

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Call Center Technology Banking Contact Center 376

TechSee

APRIL 17, 2022

Your bank details are on file so you should see a deposit from us in the next 24 hours. ” The Modern Call Center Customer Journey. The unpleasant experience of being bounced around, waiting on hold as you are passed from one customer service agent to the next is why many consumers dread contacting customer support.

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Customer Experience Self service Call Center Chatbots 207

Beyond Philosophy

NOVEMBER 22, 2019

In our global Customer Experience consultancy, we did some work with Harley-Davidson. Stephen Covey, in The Seven Habits of Highly Effective People, talks about the Emotional Bank Account. The existence of a tribe is like getting an extra deposit in that emotional bank account. Tribes Are Powerful .

Banking 64

Banking Consulting Consulting Accountability 64

Beyond Philosophy

AUGUST 29, 2020

The same goes for mistakes; admitting them and trying to correct them goes a long way to prove that you are a trustworthy company or individual that customers can rely on. For example, people know when they go to a Hilton anywhere in the world, they will get roughly the same level of experience. Do what you say you are going to do.

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Banking Consulting Consulting Accountability 397

Beyond Philosophy

APRIL 5, 2017

Seeing that Wells Fargo violated the trust of their customers by their employees opening and moving customers money into their account, they had to accept responsibility. By accepting responsibility, the CEO had to show remorse for the way it didn’t handle their customer accounts responsibly. Business Apologies.

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Journey mapping Accountability Banking Consulting 334

Beyond Philosophy

AUGUST 17, 2015

As customer experience consultants who focus on the emotional elements of service and product customer experience and value delivery, we are often asked about the behavioral role of tangible, rational, and functional elements of value and experience. The stats on this, and their behavioral impact, are well known.

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Banking Customer centricity Consulting Consulting 250

Beyond Philosophy

JANUARY 18, 2016

Here are 8 big mistakes with Customer Experience that we hope brands learned from: “It’s not the pants, it’s your body type” excuse from Lululemon. Bank of America planned to charge Customers a $5 debit card fee right after taxpayers bailed them out of insolvency. We all have. Mistakes are part of being human, after all.

Airlines 274

Airlines Entertainment Banking Consulting 274

ijgolding

MAY 6, 2020

This is a post about customer experience (CX) transformation – about the incredible work being done by a bank in Eastern Europe in their quest to become sustainably customer centric. Budapest Bank had actually started its customer experience program at the end 2015. customer insight.

Banking 93

Banking Customer Experience Customer centricity Government 93

Talkdesk

SEPTEMBER 4, 2020

The reimagining of business places the customer at its forefront and affects every aspect of the banking industry — from human resources and security to sales and marketing. After COVID-19 hit, many business owners felt underserved by their banks and voiced their displeasure by moving their money elsewhere.

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Banking Contact Center APIs Cloud contact 114

Beyond Philosophy

MAY 19, 2015

Having a great Customer Experience is no accident. Companies that excel in providing a great Customer Experience engaged in lots of deliberate designs to make their experience what it is today. To that end, here are three things all great CX companies do that you need to emulate in your Customer Experience. #

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Employee engagement Analytics Banking Customer Experience 370

Lumoa

SEPTEMBER 30, 2022

By now, the importance of delivering a superb customer experience in banking is crystal clear. It’s estimated that financial brands that deliver a better customer experience (CX) receive twice as many recommendations. Plus, their customers are also two times more likely to try new products or services. .

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Banking Customer Experience Big data Chatbots 88

CSM Magazine

MARCH 20, 2025

Tasks that once required a trip to the bank can now be completed in seconds from a phone or computer. Payments, loans, investments, and customer support have all moved online, creating a demand for faster transactions, stronger security, and services tailored to individual needs.

Customer Experience 52

Customer Experience Banking Finance Entertainment 52

Beyond Philosophy

MARCH 31, 2022

Stephanie wrote to us to ask about what to do about a price increase regarding their Customer Experience. Before we dive into how you can maintain and improve your Customer Experience even during a price increase, it is essential to appreciate the role of inflation in the broader economy. Subscribe today right here.

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Customer Experience Real estate Customer centricity Call Center 221

Beyond Philosophy

APRIL 24, 2017

From lying on emissions tests like Volkswagen to overstating efficiency performance figures like Mitsubishi, to opening bank accounts your customers didn’t want like Wells Fargo , numerous recent examples exist of brands telling customers lies. Despite this widespread agreement, companies still do, too many, in fact.

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Consulting Consulting Banking Customer Experience 317

Beyond Philosophy

MARCH 12, 2022

We explain why emotional bonds protect you in business relationships and how to lay the foundation for customer loyalty. Key Ideas to Improve your Customer Experience. To begin with, we borrow from a concept in Stephen Covey’s 7 Habits of Highly Effective People called the Emotional Bank Account.

Banking 39

Banking Construction Consulting Consulting 39

Beyond Philosophy

JUNE 29, 2015

These efforts, however, only scratch the surface on what would help Target make large deposits to the severely depleted consumer trust account. They can build a veritable bank account of trust; and high trust, and the positive reputation and image it breeds, is an enduring strategic advantage, a definite competitive differentiator.

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Wireless Banking Enterprise Accountability 257

Beyond Philosophy

APRIL 3, 2016

This is extremely important, because it speaks to how more progressive companies endeavor to make experiences less painful, if not more fulfilling and memorable. At the outset, I’d like to applaud the active inclusion of employee input and insights into TD Bank’s customer experience program design.

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B2C Banking B2B Consulting 231

Beyond Philosophy

APRIL 3, 2016

This is extremely important, because it speaks to how more progressive companies endeavor to make experiences less painful, if not more fulfilling and memorable. At the outset, I’d like to applaud the active inclusion of employee input and insights into TD Bank’s customer experience program design.

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B2C Banking B2B Consulting 231

ShepHyken

JUNE 28, 2019

Yet bank employees did not disappear with the advent of the ATM. The World Bank finds in its 2019 examination of the workforce that while technology is indeed changing how people work, it’s also creating new opportunities. Accountants today couldn’t imagine performing their job without some form of calculator.

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Contact Center Self service Banking Airlines 289

Myra Golden Media

JULY 29, 2019

Let’s quickly look at these situations, and then I hope you’ll take my challenge of asking “what else” you can do to surprise and delight your customers. My bank thought to help me with two issues. I couldn’t log in to my banking app one afternoon. ” 2. Get More Ideas Like This.

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Customer Experience Banking Accountability Sales 136

Beyond Philosophy

JUNE 11, 2021

Now, I believe that the customer relationship goes both ways and customers that aren’t treating your organization or employees well should get sacked. We also discovered that when they were squeaking, we would add resources to manage their accounts. Holding Customers Accountable.

Airlines 248

Airlines Accountability Banking Telecommunications 248

TechSee

SEPTEMBER 24, 2019

Was this evidence of a successful customer experience strategy? Delivering a consistent customer experience is imperative for companies that want to drive loyalty. Inconsistent interactions confuse customers and can damage the brand’s reputation. Inconsistent experiences do serious damage. Will Sam be back?

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Customer Experience Self service Banking Analytics 150

SharpenCX

FEBRUARY 24, 2023

If your customers don’t feel they’re receiving the personal experience they are looking for, they’ll find it elsewhere. Banks and credit unions are no exception here. Banks have long been struggling to keep up with digital customer experience expectations. faster than their competitors.

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Banking Personalization Customer Experience Chatbots 76

Beyond Philosophy

JANUARY 26, 2015

. “ Unlocking the Hidden Customer Experience: Short Stories of Remarkable Practices that Ensure Success” is designed to help organizations take their Customer Experience to the next level. If you enjoyed this post, you might be interested in the following blogs: The Draining of Target’s Emotional Bank Account.

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