financial services customers and their emotions
TRANSCRIPT
Financial services, customers and their emotions
Jerry Angrave
Why it’s so important, and how do we turn transactions into relationships?
Those who focus on selling
by being emotionally engaging
to their customers
What type of company is more successful?
A BThose who focus on selling
to their customers
Good news
Bad news
We already put emotions into our customer experiences
P
?We can’t assume they’re the right ones
The reason your business exists
Customer experiences
Employee experiences
Stakeholder experiences
Objectives
Operating and brand strategy
Values and beliefs
Functional – did it work as I expected it to?
Accessible – was it easy?
Emotional – what will I remember about how it made me feel?
Customer strategy
Making the connection
DIFFERENTIATED
EXPERIENCES
RANDOM EXPERIENCES
INTENTIONAL EXPERIENCES
Exceed expectations
Minimum expectations
Process, task and product focusLittle / no measurementExceptions are the norm
Unintended consequencesDisengaged employees
Carrying unnecessary cost
Shared visionThink “customer”
Fixes own problemsMeasurement programme
Cross-functional governance
Profitable
Easy to do business withThink and act “customer”Fixes customers’ mistakesBrand promise deliveredSelf-regulating
Sustainable
Customer experience maturity
Insurance sector is using video to good effect for onboarding and claims
SundaySky SmartVideo Index
The rational drives emotions; emotions drive actions
The journey / experience this time
FUNCTIONALDoes it work?
ACCESSIBLEHow easy is it?
EMOTIONALHow did it make me
feel?
I expect it to be effective
I experience how efficient it is
I examine what happened
I have a choiceI have a voice
It worked well
It didn’t work
It was hassle It was easy
I’ll buy againI’ll take out my next product there
I’ll tell everyone I know
What I’ll do next time
What I’ll tell others
I won’t bother complainingI’ll try somewhere else next timeMaybe I’ll move all my stuff
…and next time
9
Myth-busting: it’s not all about Wow!, exceeding expectations or surprise & delight
The utility story
The railway storyThe retail bank story
The airport story
A simple experience, shared
288,000 followers
287,000 followers
565,000 people15 minutes
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So what…?
WOW! experiences without the basics are a Waste Of Work
1. What do your customers of your products find emotive?
2. How does the Customer Strategy say we should make customers feel at each stage?
3. What does our measurement say about how we make our customers feel today?
4. If you were the customer or employee, how will that change make you feel?
5. Is our governance robust enough to make customers feel the right way every time?
In journey mapping and experience design, ask:POSITIVE?
NEGATIVE?
STRATEGY
MEASUREMENT
IN THEIR SHOES
DISCIPLINE
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How emotions can impact customers of financial services
How can we manage customer emotions to drive better performance in financial services?
The original questions:
A big part of the answer:
Protect all the functional basics,
get them right every time
and the right emotions that drive the right behaviours will follow
do
Financial services, customers and their emotionsWhy it’s so important, and how do we turn transactions into relationships?
Jerry Angrave
[email protected] 718 072
www.custerian.com