Customer experience will become key brand differentiator by 2020
Customer intelligence consultancy, Walker, has predicted that customer experience will overtake price and product as a key brand differentiator by 2020; and for the most part, this experience will be digital.
As the gap in the mobile and online experiences between financial brands widens, wealth and investment managers should already be looking to increase their digital offerings or risk becoming increasingly irrelevant to consumers. But how much is it enough?
"Digital service has become a hygiene factor. Sitting alongside humans in the delivery of good client outcomes and efficiency, it’s a necessary and expected part of any service proposition. But if financial brands want to be seen as interesting and relevant by an increasingly consumer-led market, they must get even closer to their customers and deliver an exceptional customer experience. Above all, they must find ways to reduce friction in the customer journey and use digital technology to offer simple, fast, informative, transparent – and increasingly personalised – client experiences."
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