Centriam Customer Experience Lab

OCTOBER 25, 2018

So you’ve decided to get going with a data driven Customer Experience program. Now what? Historically, it would have taken many steps, involving several internal and external individuals, months of meetings, emails, signatures, and headaches. With Centriam, you can go from a list of customers to live closed-loop transactional NPS surveys in less than one day.

NPS 75

NPS Survey Meeting Customer Experience 75

Centriam Customer Experience Lab

OCTOBER 11, 2018

The shopping habits of millennial's are a perpetual source of anxiety for retailers. Within the past week, the Economist discussed how established companies can win over these customers, and Deloitte released the results from their 2018 Millennial Survey Report. The crux of the matter is that many retailers are finding it difficult to connect with mi llennial shoppers.

Retail 150

Retail Tips Study Survey 150

Centriam Customer Experience Lab

OCTOBER 10, 2018

Maggie had a problem. In addition to her "day job" as marketing director for a regional telecom, she had been assigned a pilot project to gather more customer experience data. She knew she could send out more surveys but was wary if that would have any lasting impact. After all, had her company made any changes after five years of reviewing the annual customer satisfaction survey?

Data 150

Data Customer Satisfaction Survey Customer Experience 150

Centriam Customer Experience Lab

SEPTEMBER 26, 2018

Editor’s note: We have already discussed in our CX Lab about the importance of making things easier for customers. We have expanded this conversation to include millennials , as a reason for digital investments by banks , and as an argument for simpler surveys. But as we talk to more and more CX professionals, we are finding a strong hunger for more examples of how to simplify experiences for customers.

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Banking Survey Examples Customer Experience 150

Centriam Customer Experience Lab

SEPTEMBER 7, 2018

As outlined in our Community Banking Customer Experience Blueprint , designing an action plan for customer follow-up is the third and final step to launch your customer experience initiative. This blog will discuss key considerations to achieving successful customer winbacks.

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Banking Tips Customers Customer Experience 150

Centriam Customer Experience Lab

AUGUST 23, 2018

Centriam’s Data Science team recently authored a new white paper on the massive opportunities for modern machine learning algorithms to improve customer experience. This paper argued that newer methodologies such as gradient boosting, deep learning, and multi-arm bandits dramatically outperform regression, text analytics, A/B testing, and other methods commonly used today.

Customer Experience 150

Customer Experience Analytics Survey Report 150

Centriam Customer Experience Lab

AUGUST 2, 2018

As you begin building a customer experience (CX) program, a common first step is gathering feedback from your customers. We’ve found that surveying customers about their interactions across major touchpoint is an easy place to start. We recently published a three step guide to starting a CX program based on this method. Download our Community Banking CX Blueprint here to get a jumpstart on your CX planning.

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Touchpoint Banking Survey How To 210

Centriam Customer Experience Lab

JULY 26, 2018

Touchpoint 199

Touchpoint Banking Tips Survey 199

Centriam Customer Experience Lab

JUNE 27, 2018

Machine learning. Artificial intelligence. Big data. Deep learning. These terms have saturated the modern business lexicon and permeated the zeitgeist. What is your experience with these buzzwords? You’ve certainly read about them and likely talked about them, but have you implemented them? Are you leveraging them to improve your customer experience?

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Chatbots Customer Experience Data Customers 150

Centriam Customer Experience Lab

JUNE 13, 2018

We founded Centriam with a simple vision: help companies get more value out of data to become more customer centric. I strongly believe that organizations who put effort into understanding customer behavior and act on those insights will have a tremendous competitive advantage over the long run. So our goal has always been to develop tools and solutions that drive a customer-centric culture and enable companies to build deeper customer relationships to improve customer experience.

Competitive Advantage 150

Competitive Advantage Software Customer Experience Customer Centricity 150

Centriam Customer Experience Lab

MAY 17, 2018

When it comes to improving customer experience, not all retailers are the same. Different business models, customer bases, and product selections prevent a one size fits all approach to providing great customer service. In their recent article titled “The Great Retail Bifurcation: Why the retail “apocalypse” is really a renaissance” , Deloitte divided retailers into three groups—price-based, balanced offering, and premier—to help explain differences in retail business performance post-recession.

Retail 150

Retail Customer Experience Groups Customers 150

Centriam Customer Experience Lab

MAY 17, 2018

When it comes to improving customer experience, not all retailers are the same. Different business models, customer bases, and product selections prevent a one size fits all approach to providing great customer service. In their recent article titled “The Great Retail Bifurcation: Why the retail “apocalypse” is really a renaissance” , Deloitte divided retailers into three groups—price-based, balanced offering, and premier—to help explain differences in retail business performance post-recession.

Retail 150

Retail Customer Experience Groups Customer Base 150

Centriam Customer Experience Lab

APRIL 30, 2018

You are serious about customer experience (CX). You want to collect feedback. You need to learn more about your customers’ pain points and needs so you can increase their loyalty and retention over time. Great! With a high-level strategy in hand, one of the first technology decisions to make is deciding which customer feedback tool to purchase. The most common practice is to utilize a traditional survey tool since there are many to choose from and they are inexpensive.

Tools 150

Tools Survey Customer Experience Feedback 150

Centriam Customer Experience Lab

APRIL 11, 2018

Scott Brinker's most recent Marketing Technology Landscape famously touts 5,381 different software solutions. Software choices are obviously growing, but this abundance of choice fuels confusion. This bewilderment is further fanned by aggressive marketing and an alphabet soup of technology acronyms. So which technology should you turn to improve your customer experience?

Technology 218

Technology CEM Customer Experience Software 218

Centriam Customer Experience Lab

APRIL 5, 2018

In J.D. Power’s most recent U.S. Retail Banking Customer Satisfaction Study, the six largest banks (Bank of America, Citigroup, JPMorgan Chase, PNC Financial, U.S. Bancorp and Wells Fargo) lead the industry in customer satisfaction. Smaller banks and credit unions fell behind, suggesting less effective investments. But how can this be? Shouldn’t these big banks be losing the customer experience battle to the more personalized service of their smaller, more local competitors?

Banking 150

Banking Customer Experience Financial Retail 150

Centriam Customer Experience Lab

MARCH 28, 2018

Bracket busted? Mine too ??.

Data 199

Data 199

Centriam Customer Experience Lab

MARCH 22, 2018

Customers and call center employees are frequently envisioned as the houses of Montague and Capulet, eternally struggling against each other. Customers constantly complain about poor treatment, hold times, and unhelpful staff. Employees describe these jobs as the worst they’ve ever had, facing the full brunt of customer wrath. As a result, call centers average annual turnover rates above 40%, while customer loyalty numbers continue to decline.

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Loyalty Call Center Customers Financial 150

Centriam Customer Experience Lab

MARCH 15, 2018

The Mall of America delights patrons with a chatbot creating a high-tech, engaging retail customer experience. With the increase in online shopping and questions whirling around the relevancy of brick and mortar shopping malls, our local retail icon, Mall of America, welcomed a new chatbot named Pepper. The chatbot can not only direct visitors to specific locations within the mall, it can talk about deals and promotions, and even connect them to an actual human being.

Chatbots 170

Chatbots Retail Connections Customer Experience 170

Centriam Customer Experience Lab

MARCH 5, 2018

We have published the Centriam CX Money Map , which details 12 drivers that make the financial case for a customer experience program. In our last post , my colleague Joe focused on customer enrichment. This week, I will delve into the two drivers involved with reducing costs in contact centers and marketing while maintaining, and potentially improving, customer experience.

Case Study 170

Case Study Study Customer Experience Contact Center 170

Centriam Customer Experience Lab

DECEMBER 12, 2017

Using conclusions drawn from Centriam’s 2017 Retail Study, we have proposed areas of focus to enhance customer experience for two common NPS objectives.

Retail 218

Retail Customer Experience Strategy NPS 218

Centriam Customer Experience Lab

DECEMBER 20, 2017

Many retailers are finding it difficult to connect with mi llennial shoppers. Even when able to sell to them, they are often unable to sustain the relationship. Findings from Centriam’s 2017 Retail Study confirm this: millennials are more price sensitive, less likely to repurchase, and 40% more likely to be detractors. [ Click to Tweet ].

Retail 150

Retail Customer Experience Study Connections 150

Centriam Customer Experience Lab

JANUARY 5, 2018

Make Shopping Enjoyable to Encourage Sales. On a previous blog , my colleague Jason shared a finding from Centriam’s 2017 Retail Study : customers who had an enjoyable shopping experience were more likely to be promoters. This finding is especially robust among millennials, the largest generation in the US. Millennials who said their experience was extremely enjoyable were nine times more likely to be satisfied with the price they paid, and twice as likely to repurchase as millennials who said t

Sales 231

Sales Retail Study Customer Experience 231

Centriam Customer Experience Lab

JANUARY 25, 2018

Data-driven decision making. We all aspire to it. Whether it’s in Customer Experience management, targeted marketing, deciding which candidates to hire, choosing a new car, or picking the teams in your March Madness office pool.

Case Study 274

Case Study Study Data Customer Experience Management 274

Centriam Customer Experience Lab

FEBRUARY 8, 2018

To help you build or improve your business cases, Centriam built a single page summary — a map of sorts — which outlines twelve different financial gains resulting from customer experience improvements. These twelve drivers are aggregated into five categories.

Financial 218

Financial Customer Experience Customers 218

Centriam Customer Experience Lab

FEBRUARY 22, 2018

Improving customer experience increases customer lifetime value. In fact, it dramatically increases it, as research indicates that satisfied customers spend more than twice as much as unsatisfied customers. But how does one begin constructing a business case applying this fact?

Customer Experience 170

Customer Experience Financial Customers 170