Beyond Philosophy

SEPTEMBER 10, 2015

Employee Culture: Why Amazon is On Top and Bank of America Isn’t. Colin Shaw is the founder and CEO of Beyond Philosophy , one of the world’s leading Customer experience consultancy & training organizations. Improving Your CX One Employee at a Time. Follow Colin Shaw on Twitter & Periscope @ColinShaw_CX.

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Beyond Philosophy

FEBRUARY 15, 2018

The San Francisco-based bank, whose employees opened many fraudulent and unauthorized accounts in their customers’ name, now enjoys the dubious honor of shouldering the most substantial penalty the agency has issued since its formation in 2011. So, after destroying the trust their customers felt toward their bank, what should they do now?

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Beyond Philosophy

SEPTEMBER 13, 2019

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. . It can’t be more probable for her to be a feminist bank teller than it is for her to be a bank teller because of math. I said the second one. However, it’s wrong. .

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Beyond Philosophy

SEPTEMBER 3, 2020

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. However, if your emotional bank account is in good standing with customers, the error you made won’t ruin the relationship.

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Beyond Philosophy

DECEMBER 19, 2017

It is the essential concept we tout at our global Customer Experience consultancy. Other brands in the top three spots are perennial performers like John Lewis and last year’s top performer, First Direct, an online and over-the-phone bank. My first work as a customer experience consultant was there. The Bad News.

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Beyond Philosophy

FEBRUARY 21, 2016

Consumer financial service industries, such as banking, investments and insurance, are sectors where trust and confidence play a particularly important role in key elements of the customer life cycle: selection, loyalty, and defection. Retail banking, in particular, has seen both success and failure because of customer trust.

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Beyond Philosophy

DECEMBER 19, 2016

In our customer experience consultancy, we help companies design a customer experience that that fosters customer loyalty and engagement by taking customers’ emotional behavior into account. We use tools like customer mirrors and emotional signature to assess the current customer experience and design a better one.

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Sales Banking Customer emotions Education 353

Beyond Philosophy

NOVEMBER 10, 2014

In an article about the moments of truth in customer service, McKinsey & Company revealed that 70% of customers at a bank reduced their commitment when they had a bad Customer Experience. That article also revealed that 85% of customers that had a good relationship with the bank increased their commitment. www.mckinsey.com.

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Beyond Philosophy

AUGUST 9, 2017

do not have a bank account at an insured institution (unbanked), which translates to about nine million households. Underbanked describes a household that has a checking and/or a savings account but has found outside resources for banking products, meaning other than financial institutions. households, around 24.5 I rarely use cash.

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Beyond Philosophy

OCTOBER 5, 2017

For example, banks provide customers pens—on chains. Banks put the pens there to help customers, but the chain tells the customer’s’ subconscious, “We don’t trust you.” Colin Shaw is the founder and CEO of Beyond Philosophy , one of the world’s leading Customer experience consultancy & training organizations.

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Journey mapping Banking Customer emotions Customer centricity 357

Beyond Philosophy

SEPTEMBER 2, 2019

For example, there was a blood bank in the US that wanted to increase donation rates. When the blood bank starts paying them for it in cash, they turned it into a transaction where now it’s more utilitarian. Signing the Emotional Bank Account with the Emotional Signature . Organizations have emotional bank accounts also.

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Beyond Philosophy

SEPTEMBER 11, 2014

Last year’s survey revealed that Amazon claimed the top spot and Bank of America…well, didn’t. That is to say, Amazon has it—and Bank of America doesn’t. Technically, Bank of America isn’t listed here by name but they do fall under the label of “Any Bank.” I would argue that this is true of Bank of America.

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Banking Employee engagement Customer centricity Surveys 150

Beyond Philosophy

JULY 13, 2016

What do a Bank, an Airline, and an Online Retailer Have in Common? Consorsbank is a bank; Lufthansa is an airline; Zalando is an online clothing retailer. As Customer Experience consultants we are always going on about how emotions drive over half of the outcome for your Customer Experience. How to Measure Customer Emotions.

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Customer Experience Airlines Banking Customer centricity 278

Beyond Philosophy

JUNE 6, 2019

For example, not so long ago, people didn’t want to migrate to online banking. In the minds of many people, the internet was a sinister nest of bad-actors waiting to steal all of our electronic money right out of the virtual bank. However, online banking has proved to be helpful to society. Get Used to It.

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Airlines Banking Technology Customer emotions 354

Beyond Philosophy

OCTOBER 10, 2016

As Customer Experience Consultants, we see our clients presume that customer evaluations of an experience occur at the product level. But there is also Zappos and Starbucks, Bank of America or Goldman Sachs or Amazon and Volkswagen. However, it’s probably not happening the way you think it is. This presumption is only partway true.

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Consulting Consulting Banking Customer Experience 419

Beyond Philosophy

JANUARY 18, 2016

Bank of America planned to charge Customers a $5 debit card fee right after taxpayers bailed them out of insolvency. Back in 2011, right after the huge bailout American taxpayers gave Bank of America (B of A) and other large financial institutions deemed “too big to fail”, the bank announced they would charge a $5 monthly fee for debit cards.

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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. Another example is Harley-Davidson motorcycles.

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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. Michael Lowenstein, Ph.D.,

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Callminer

FEBRUARY 23, 2021

For instance, cloud VOIP systems, live chat software, video consultation, asynchronous messaging, SMS service lines, and so on. The bank set up a microsite with information about COVID-19 assistance programs, including payment deferrals, stimulus payment information and branch hours.

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Call Center Technology Banking Contact Center 376

Beyond Philosophy

MARCH 31, 2020

A friend of mine told me, he received a text message from his bank that he’ll be charged for some supplementary medical insurance contract he signed 3 years ago. appeared first on Customer Experience Consulting. But there are other, not-travel related customer experience shambles too!

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Airlines Healthcare Government Self service 499

Beyond Philosophy

NOVEMBER 3, 2015

Employee Culture: Why Amazon is on Top and Bank of America Isn’t. The post What My Boss Taught Me about Leadership appeared first on Beyond Philosophy | CX Consultants | Customer Experience. If you enjoyed this post, you might be interested in the following blogs: Cracking Employee Engagement Through Leadership.

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Beyond Philosophy

JULY 5, 2015

Companies that are customer-obsessed, and what makes them both unique and successful, have been extensively profiled by consultants and the business press. . – Management model is far more horizontal, replacing traditional hierarchy; and there is an emphasis on teaming, and inclusion of customers, to create or enhance value.

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Beyond Philosophy

AUGUST 29, 2020

Furthermore, suppose you have a good standing with your customers, what Stephen Covey’s book The Seven Habits of Highly Effective People calls an emotional bank account, customers will usually forgive your mistake without losing trust. The post 5 New Rules Guaranteed to Build Trust appeared first on CX Consulting.

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Beyond Philosophy

NOVEMBER 13, 2017

As a global customer experience consultancy we have recognized for a long time that customers’ overall experience with a company or brand is driven primarily by emotional and subconscious factors. When you go into a store, the bank, or your local cafe, it feels different when the employees recognize you. The post Revealed!

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Beyond Philosophy

APRIL 3, 2016

The surveying, such as referenced by TD Bank, to identify what drives satisfaction-reducing pain will provide superficial guidance on emotional drivers of desired customer behavior. It’s understandable why TD Bank’s marketing takes this approach to value. The bank found that about half of these customers had service complaints.

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B2C Banking B2B Consulting 231

Beyond Philosophy

APRIL 3, 2016

The surveying, such as referenced by TD Bank, to identify what drives satisfaction-reducing pain will provide superficial guidance on emotional drivers of desired customer behavior. It’s understandable why TD Bank’s marketing takes this approach to value. The bank found that about half of these customers had service complaints.

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B2C Banking B2B Consulting 231

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. Would You Work Here?!?!

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Consulting Consulting Banking Customer Experience 317

Beyond Philosophy

MAY 10, 2016

My example is TD Bank, where viral communication meets real, and valued, experience delivery on a personalized, and deeply emotional, level. Here’s a quick thumbnail summary of where some examples of TD Bank’s marketing unique marketing and communication initiatives have taken the company over the past year or so.

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Marketing Banking B2C Consulting 186

Beyond Philosophy

JUNE 11, 2020

In our business growth consultancy, we worked with the largest insurance companies in the UK back in the day. Colin Shaw is the founder and CEO of Beyond Philosophy , one of the world’s leading Customer experience consultancy & training organizations. Uncertain waits are longer than known, finite waits. Sources: Maister, David.

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Wait times Management Consulting Consulting 403

Integrity Solutions

SEPTEMBER 18, 2024

Banking sales strategies are being redefined: Here’s how to pivot your customer relationships. The predicted ups and downs in the yield curve can affect your bank’s overall profitability. Despite higher interest rates on loans, many banks’ margins are compressed due to the corresponding increase in funding costs.

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Banking Sales Employee engagement Consulting 83

Outsource Consultants

OCTOBER 29, 2021

Saint Louis Park, MN, October 29, 2021 – Outsource Consultants is excited to announce that we are a Minneapolis/St. Outsource Consultants, a BPO advisory firm, has been named to the Minneapolis/St. This year, Outsource Consultants came in at number 14 after remarkable growth of 123%. About Outsource Consultants.

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Beyond Philosophy

DECEMBER 20, 2019

From our research in our global Customer Experience consultancy, we know that over 50 percent of experience is about how a customer feels. . Meanwhile, this unlucky phone bank employee, who had only just returned from break where she was chatting with some friends and in a completely different emotional space, was not.

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Customer emotions Consulting Consulting Call Center 390

Beyond Philosophy

JULY 26, 2017

That is what manufacturers are banking on with their strategy to reduce the amount included in your purchase price. However, in our experience as a global Customer Experience Consultancy, we know that doing what is best for the customer is the best way to increase profits. Me neither. Driving Value by Driving Emotions.

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Consulting Consulting Banking Customer Experience 300

Beyond Philosophy

MARCH 12, 2022

To begin with, we borrow from a concept in Stephen Covey’s 7 Habits of Highly Effective People called the Emotional Bank Account. An Emotional Bank Account is a lot like a regular bank account where you make deposits and withdrawals. This is How to Create Loyal Customers appeared first on CX Consulting.

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Myra Golden Media

DECEMBER 8, 2019

I’ve designed start-up chat support for banks, libraries, consulting companies, medical practices, and contact centers. When I set up a chat platform for my clients, I have two goals. First, I want to deliver a fast and complete support experience. Meaning, I want to answer the customer’s questions and solve any issues.

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CX Accelerator

JUNE 8, 2020

That’s why ,, Schulbert Koleka , Business Manager at Standard Bank Malawi, recommends, “Initiate the conversation. Walk in the customer’s shoes. ,, Nicholas Zeisler , Principal at Zeisler Consulting, challenges us to experience our product or service in the exact same way as customers do. Listen to customer complaints.

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Beyond Philosophy

OCTOBER 2, 2021

25:42 Colin explains the importance of having an Emotional Bank Account with people and to keep up with putting deposits in it. The Financial Times selected Beyond Philosophy LLC as one of the best management consultancies for the last two years. Please tell us how we are doing! Complete this short survey. Click here to learn more.

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