Welcome to Customer Insights, a weekly digest of the most important stories about online reviews, customer feedback, and customer experience. This week: Banks must adopt a customer journey mindset, healthcare leaders discuss the importance of data, and more.
Get Into the Right Mindset
Banks must get into the customer journey mindset as one of the factors for success in the future.
According to Boston Consulting Group, the elements that consist of a strategy to overcome current issues in financial institutions is part of a “bionic” strategy.
The strategy also consists of blending digital and personal interactions and combining human judgment with data.
Banks should identify the customer journeys that are most important and redesign them. Part of this process involves using customer feedback to improve service operations across all customer interactions.
The Importance of Data
Paul Kusserow, president and CEO of Amedisys Home Health & Hospice, said the continuity of data is essential to drive customer experience.
Kusserow said that “providers have more of a difficult time” than payers because providers’ “data is more sporadic from intermittent experiences with patients.” Hospitals have the least amount of continuous data, he says.
Sandra L. Fenwick, president and CEO of Boston Children’s Hospital, said data is crucial for the management of patients across the spectrum of care.
The point is, having a continuous stream of data is important for every component of healthcare, especially when it comes to the customer experience.
Technology Provides Multiple Opportunities for Engagement
The insurance industry must rethink the customer experience, and technology is changing the way insurance companies can provide that experience.
According to PwC, 28 percent of insurance CEOs believe technology will reshape competition in the insurance industry entirely during the next five years and 58 percent believe that will have a large impact.
Insurance providers should offer customers a variety of ways for customers to engage, writes Kathleen Garlasco in PropertyCasualty360. This includes giving customers the ability to “research, quote, and purchase coverage through the channel of their choice.”
The customer expects insurers to understand them and engage with them. Customer data analytics provides the right information to help companies get to know their customers to better meet their needs.
Guest Expectations Will Continue to Evolve
Personalization is now an expectation for customers, not just an added experience.
Hotels need to capture customer data to provide that personalized experience. An example of one hotel brand that is focused on personalizing the customer experience is Virgin Hotels.
Virgin’s mobile app allows guests to create their own hotel experience, which includes the ability to adjust temperature in rooms and make reservations at restaurants.
Marriott also developed a mobile app in February to meet world travelers’ needs.
The personalized customer experience will need to continue to be innovated based on new technology and customer expectations. Mobile apps are just one example of guest expectations.