Learn from Wells Fargo

April 27, 2017

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Welcome to Customer Insights, a weekly digest of the most important stories about online reviews, customer feedback, and customer experience. It’s the end of the month, so that means this weeks’ Customer Insights focuses on four different industries: banking, hospitality, healthcare, and technology.

Reviews Hint at Illegal Practices

Customers of Wells Fargo were writing negative reviews about the opening of fake accounts before the news broke about the scandal in September 2016, according to research by ReviewTrackers.

The reviews hinting at illegal practices dates as far back as August of 2015. Although reviews were analyzed from August of 2015, it’s possible that with further research, there could be reviews about the crimes even further back in time.

The negative phrases in the reviews include “wrong fees,” “unethical sales tactics,” “hidden fees,” and “bogus fees.”

Get the Guest Talking

The founders of boutique and luxury hotel booking platform Mr. & Mrs. Smith say that word of mouth is the best form of marketing, according to Skift.

“I think advocacy is still the best marketing,” James Lohan, co-founder of Mr. & Mrs. Smith, said at the Skift Forum Europe. “For our type of niche business, people should be talking about you. Social media helps for us as well. It’s all about people telling other people about you. It’s still the most powerful and cheapest marketing out there.”

Tamara Herber-Percy, co-founder, said it’s important for hotels to understand what type of loyalty their guests have. Mr. & Mrs. Smith focuses on customers who appreciate curation and customer service.

“People who will stay loyal as long as that brand is delivering — those are the customers we focus on,” she said.


The Chief Experience Officer: An Important Role in Healthcare

The first chief experience officer was Bridget Duffy, M.D., at the Cleveland Clinic from July 2007 to July 2009, according to Managed Healthcare Executive.

When she took the job, she made it clear to leadership that they would have to look at the real problems happening with culture and organization structure.

HCAHPS scores at the clinic were low when Duffy first took the job. She spent three years fixing trust with patients and the relationships between physicians and nurses. She also addressed the problem of caregiver burnout: the physical and emotional burnout of caregiving.

Technology in Insurance

According to Bain & Company, technology will impact the insurance industry at an accelerated pace in the next three to five years.

Customers will have more choices in insurance, and they’ll receive better service at lower prices. The new technologies – from advanced analytics to machine learning – give companies an opportunity to innovate and improve the customer experience.

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