Revenue is the driver of business, and most businesses for the longest time have been accustomed to building a pipeline of business, targeting specific demographics or segments of customers, or raising brand awareness so as to generate interest in products or services. Recently, however, a subtle shift to consumer engagement has made itself evident, one [...]
The PROTECT IP Act (Preventing Real Online Threats to Economic Creativity and Theft of Intellectual Property Act of 2011), is a proposed law with the stated goal of giving the US government and copyright holders additional tools to curb access to “rogue websites dedicated to infringing or counterfeit goods”, especially those registered outside the U.S. [...]
When you read a definition of Customer Experience you invariably will see two elements – the lifetime experience of the customer, and the total experience of the customer day to day as he engages in transactions with the provider of the goods or services he is utilizing. In meeting continuously with UK banks over the last two weeks I find an almost unhealthy obsession with branch experience as the be all and end all of the customer experience challenge. It is as if a poor customer experience across any other channel can be solved simply by a customer walking into a branch having a great service experience. I just don’t buy that.
In my recent discussions on branches I got some reader feedback that some have apparently interpreted my positive reporting of the effectiveness of direct channels as evidence that I am ‘against’ branches. This is not the case. However, I do think that branch networks are currently in a precarious situation and bank’s might find themselves saddled with a costly anachronism if they don’t anticipate where the customer behavioral shift will take branch networks in the very near future. There is hope – but it will take a determination to revisit what branch networks really do for us…