Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

How mobile banking earned a 300% ROI

The mobile banking channel, the study found, provides an opportunity for banks to create a more meaningful dialogue with their customers, deepening loyalty and broadening the services to which their customers can subscribe.

In fact, according to Andy Zimmerman, director of mobility services for Accenture, the banks studied have found that high mobile adoption and ROI hinges upon providing a suite of services that are relevant to their customers, educating customers on how to use mobile services, and regularly measuring customers' usage patterns and satisfaction rates. Banks generating the highest returns on their mobile banking investments achieved that level of ROI by emphasizing customer convenience, providing rich exchanges of information between bank and customer and accurately measuring how customers use their mobile phones to bank.

"Bank customers want greater control over managing their finances and prefer to bank in ways that fit their lifestyles," said Zimmerman. "Technology is enabling customers to move beyond simple account notifications sent by text message from their banks to more sophisticated interactive applications."

According to the study, financial institutions with successful mobile banking programmes share several common features:

• They fully understand customers' expectations of mobility, such as their need to have the same experience on their smart phone as they have on their laptop.
• They minimise customer fees, which helps ensure greater customer engagement.
• They monitor and leverage the evolving functions of customers' handsets and the platforms they use.
• They ensure that their staff is fully engaged in supporting mobile banking.

Among the ten major financial institutions studied, the report's key findings included:

• ROI of 300%
  A Middle-Eastern financial institution has achieved a return on investment of at least 300% through customer education by showing its two million mobile banking customers how to access and use services, and offering new, convenient ways to pay bills online using their mobile devices, including "topping up" their pay-as-you-go mobile phones, paying utilities bills, or paying a fixed monthly fee for a premium services package.
• ROI of 230%
  An Asia-Pacific bank has achieved a return on investment of 230% since launching mobile banking in 2007. It is transitioning from informational services - sending text message reminders to customers for example, to interactive services such as enabling customers to register online for mobile banking. The bank's executives said the focus on engaging staff at branches and the call centre was critical to success.
• Annual customer growth of 60%
  A European bank whose customers can check balances, transfer money between accounts and trade stocks with their mobile phones has achieved 60% annual growth of its mobile banking customers. The bank's executives said support of multiple smart phone device platforms has contributed to success.

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)