The last 5-6 years have been a turning point for CX in the Middle East region. Thus, VOC has been in the spotlight.
The customer has been empowered and informed that “your voice matters”. Therefore, there is more onus on BFSIs to not take customer feedback lightly.
Customer behaviour has changed, thus whilst bots/ AI can glamourize the perception of the BFSI institution, today’s customer is well informed to rate the service provision they receive.
The customer-first strategy must ensure solutions are developed and deployed with the customer at heart. The success of these can be seen when net promoter scores go up and via industry awards.
By doing customer surveys month on month, and taking the feedback seriously, service delivery should be constantly enhanced. Some BFSIs set up a customer service committee to audit the feedback findings, this is also a great way to establish metrics to measure the success.
Customer feedback should be collected from multiple channels. Post call surveys are extremely valuable, there should be dedicated resources and budget to analyse it and draw insights.
The Voice of Customer is invaluable. By utilizing VOC and insights in developing products and services CX can be amplified.
Post pandemic, the tolerance level of customers is very low, one bad experience can make you lose a loyal customer.
CX is complicated
Post pandemic CX is a complicated affair. The number of fraud attacks are growing at a fast pace, and unless these are tackled appropriately, the regulators will revoke the BFSI’s license to operate. A lot of the paperwork is required by the central banks and therefore creating paperless journeys to provide great CX is not always possible and will lead to failure in audits.
CX Leaders must reimagine human experiences keeping these constraints in mind.
Next: 3 ways to design a strong data foundation. Read on.