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Excelling at Customer Experience: A Journey to Differentiation

Product Type: Market Research Report
Published by: TowerGroup
Published: July 2007
Product Code: R301-1298
Description
The customer experience (CE) is the first line of defense in sustaining long-term customer relationships. A favorable CE is fundamental to building customer loyalty and improving customer retention. Better retention allows a financial services institution to spend time and effort achieving long-term growth objectives rather than replacing customers. This TowerGroup Research Note discusses the rising importance of the customer experience for achieving sustained growth in the financial services industry. The Note discusses the trends that drive CE as a major initiative in many FSIs and examines the future challenges of product and service delivery.
Table of Contents
TowerGroup Take-Aways

Report Coverage

The Value of the Customer Experience

Industry in Flux

Recent Trends in Customer Satisfaction

Exhibit 1 Customer Satisfaction Index Trends in Financial Services (2000-06)

Product Complexity and Customer Expectations

Exhibit 2 Product Complexity and Customer Experience Expectations

Revising the Notion of Customer Life Cycle

Enabling Customer Experience: An Evolutionary Process

Exhibit 3 Example: A Bank Improves Customer Experience via Loyalty Programs Based on Beliefs and Principles

Exhibit 4 Example: A Mortgage Lender Improves Customer Experience via Business Process Improvement

Exhibit 5 Example: A Cell Phone Company Improves Customer Experience via Real-Time Feedback and Offers

Emerging Channel Trends

Exhibit 6 Merging of Delivery Channels, Products, and Services with Lifestyle Choices

Summary
Ordering and More Information
Price and Delivery Options


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