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)

FSI customer relationships suffer from irrelevance

The survey found that the marketplace is ripe for firms that are marketing investment products and services, with 71% of consumers saying they invest either directly themselves or through a financial advisor. Some 65% of those who said they invest also said they were increasing the amount they invest during the coming year.

The survey, which was balanced by gender, region, social class and age, found that the older the person, the more likely they are to be investing. The 55+ age group - those most likely to be considering their pensions as they near retirement age - led the way in terms of making their savings work for them, with 84% saying they were actively investing. And more than half of the 18-24 age group said they were investors.

However, financial firms are generally doing a poor job of marketing their products and services to prospective and existing customers, as 70% of consumers said that the majority of direct mail they received from these companies is irrelevant to them, while only 13% said that a substantial proportion of the direct mail they receive from such companies is of interest.

A breakdown of the findings indicated, however, that financial firms were doing better in certain markets - particularly in London where 19% of respondents said they found that a significant portion of this type of direct mail was of interest to them, and only 64% found the majority of this mail to be irrelevant.

But the demographic groups with the greatest earning power and likelihood to invest - those aged 45 and up - appear to be the very groups that these firms are doing the worst job of reaching with their marketing messages. In fact, the survey found that 77% of these consumers said the majority of the direct mail they receive from financial companies is irrelevant to them. Only 9% of 45 to 55-year-olds and 11% of the 55+ age group felt that a significant portion of the printed communications sent to them from financial firms was of interest.

According to Matt Boot, chief analyst for KDB, "At a time when marketing and communications are vitally important for firms focusing on investment products and services, these findings do not bode well for most companies in this arena, but it also means that there are huge opportunities for those that get their messaging and their approach to customers right."

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)