As the uncertainty caused by COVID-19 will exist for the foreseeable future, banks and financial institutions need to stay vigilant until a path to normalcy emerges. By catering to customer needs, motivating employees, and analyzing the operational and risk compliance implications, the finance sector can successfully facilitate its return to stability. Here’s where a question arises - How do banks and capital markets maintain operational resilience even during the pandemic?
Adding competitive advantage with CX and EX
During uncertain times, customers matter more than ever so delivering superior customer experience (CX) can empower financial services businesses with enhanced customer loyalty as well as market revenue. Likewise, focussing on employee experience (EX) can help businesses sustain employee engagement to strengthen organizational culture even during the pandemic. So, leveraging EX playbooks for achieving CX excellence can be the best way to infuse organizational agility.
Treating your employees nice will go a long way. As exceptional EX enhances the productivity of the employees, it uncovers their full potential which helps them drive business value. Enable your employees to make significant changes to the work arrangements and provide full support for it. By doing so, they will be able to seamlessly cater to the customers while fulfilling their family responsibilities.
In most countries severely hit by the pandemic, the role of the finance sector has become even more crucial. While customers are dealing with the loss of jobs, disrupted revenue, and fewer sources of income, financial businesses need to focus on elevating their customer experience (CX) for helping their customers deal with temporary difficulties. Providing necessary support & forbearance and meeting the “liquid” expectations of the customers will help build trust at an individual level.
How Finance Surveys can help?
Given the current situation of the COVID pandemic, finance surveys are the best way to understand how people are weathering through the crisis. A finance survey helps you explore the key drivers behind customer experience while empowering your employees to get a unified view of the customer journey.
To monitor and manage their customers well, banks and financial institutions need to invest in customer experience which can be achieved using finance surveys. Here’s why you need to consider finance surveys for your business:
Customers prefer personalization
While the customers' relationship with their financial services provider is purely transactional, offering personalized experience to the customers can make them stay longer with the same bank. Using finance surveys can help you gain a true, 360 view of your customers. This lets you cater to them personally which promotes client loyalty and boosts revenue growth.
Brand perception is crucial
Being an important aspect of the business, customer service plays a pivotal role in overall brand perception. Most customers tend to cut ties with its financial service provider due to poor customer service, including finance surveys can empower the customers to solicit their open & honest feedback. This lets you serve them better which enhances your brand value.
For instance, conducting finance surveys to track bank customer service, can help you gather customer feedback which ensures a convenient banking experience to all your clients. In the case of personal finance, these surveys can help you gain in-depth insights into the financial health of your customers and their spending habits too.
Use Voxco's omnichannel finance survey solutions to fully understand your customer issues, align your employees, and pinpoint growth opportunities even in turbulent times.