Bruce Temkin delivered this morning’s opening keynote at Forrester’s Finance Forum in New York. New Forrester research with American Banker indicates that 97% of banking executives indicate that focusing on customer experience is important to competitiveness over the next three years.
A great way to think about customer experience (CXP)? It’s a production, just like a movie. Successful firms practice "experienced-based differentiation" based on three key areas.
- Obsess about customer needs, not product features. For example, Disney mobile and Best Buy’s Geek Squad.
- Reinforce brands with every interaction, not just communications. I.e. make promises and keep promises. For example, Westpac Bank.
- Treat customer experience as a competence, not a function. E.g. Pret A Manger‘s manager hiring process. Dell’s call center monitoring. British Telecom‘s front line immersion.