Branch or Digital? That’s Actually Not the Right Question

Posted by Jenni Palocsik

Sep 29, 2014 11:31:38 AM

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In response to the growth of consumer digital channel use—and the reduction in use of physical bank branches—some industry experts have forecasted the death of the branch. However, retail banks have long relied on the interpersonal interactions between their employees and customers in the branch, so they are not so quick to close up their networks.

Instead, many financial institutions are testing out new, smaller branch formats as part of their strategy. But not everyone thinks this is a good idea. A recent opinion piece in American Banker1 warned banks to proceed with caution, because “micro space means a micro [implying less than satisfactory] customer experience.” Although mini-locations offer convenience for routine banking transactions, they are not typically staffed or suited for driving sales or providing more complex financial advice to deepen relationships. To accommodate both convenience and full-service banking, an alternative approach many financial institutions are exploring is a hub-and-spoke formation of full-service branches surrounded by micro-branches.

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Topics: Retail Financial Services, Branch Office Operations, Customer Service, Customer Experience, Retail Banking

New Ways To Engage Customers More Effectively – Part 2

Posted by Nancy Porte - Vice President, Global Customer Experience

Sep 25, 2014 12:04:55 PM

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In Part 1 of this blog I highlighted some important ways I’ve observed today’s leading organizations move toward driving customer engagement, including omnichannel customer experience and more personalized interactions with customers. In this second part of the post, I want to address another way I’ve seen true engagement begin to take shape.

Optimizing the Workforce

Employee engagement arises in so many contexts these days. Research has shown that employee engagement is crucial to the customer experience. Smart and successful CEOs understand that employees are the largest asset of the organization—and HR departments know that talent is hard to find and sometimes even harder to keep. Companies seem to recognize that employee engagement drives customer engagement—which directly impacts loyalty and revenue—and that these attributes ultimately help achieve organizational success and result in more employee engagement.

However, while organizations and supervisors have great intentions to make their employees happier, they still consistently miss the mark because, according to recent surveys, only one-third of employees are engaged at work. No doubt, there is still a lot of room for improvement in this area.

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Topics: Customer Service, Customer Experience, Loyalty, customer engagement optimization, employee engagement

Get Your Security Situations In Order

Posted by Courtney Mamuscia

Sep 24, 2014 10:17:06 AM

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Within the security industry, threats and the technology used to detect them constantly evolve. In one of the most recent evolutionary steps of security technology, end-users have become increasingly drawn to solutions that integrate multiple disparate systems and sensors to provide comprehensive, facility-wide situation awareness and incident management. Considering the various threats that many end-users face, this high level of security has actually become a must-have.

A Wealth of Information

Today’s security technology provides end-users with more information than ever before. From license-plate recognition, fire alarm and intrusion detection systems to video management software, GPS and even social media, security officials are inundated with a flood of information about their facility every single day. This is especially true for users in the safe city, banking, retail, large corporate and enterprise environments, where hundreds or even thousands of systems and sensors might be used on a day-to-day basis.

As a result, many operators experience difficulty making sense of all that data—and much of it goes completely unused. In the event of an emergency, it can be challenging to swiftly and effectively respond, especially when vital information is spread throughout various systems or business silos.

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Topics: Video Intelligence Solutions, Video Management Software, Security Solutions, Video and Situational Intelligence, video analytics, Situation Management

Customer Experience Executive Briefing Takeaways

Posted by Greg Sherry - Vice President of Marketing

Sep 23, 2014 3:45:21 PM

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The rewards for those organizations that get customer experience right are significant. According to Forrester Research, customer experience leaders outperform the rest of the Fortune 500 by 22.5 percent in shareholder value. The research goes on to say that providing great customer experiences leads to increased loyalty and can drive a 23 percent increase in customer wallet share. So, it’s no surprise that 92 percent of companies have customer experience excellence as a top strategic priority1.

The constant change in technology and the competitive vertical landscape continues to shape new challenges and opportunities for customer experience executives. Verint’s Nancy Porte, Vice President, Global Customer Experience, and I facilitated a session on customer experience yesterday at an executive briefing that was part of the Customer Response Summit in Memphis, Tennessee.

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Topics: Voice of the Customer, Speech Analytics, Desktop and Process Analytics, Customer Feedback Surveys, Voice of the Customer Analytics, Workforce Optimization, Customer Experience, customer engagement optimization, employee engagement

Verint's New Engagement Analytics: Act on What Matters Most

Posted by Alain Stephan - Global Vice President, Customer Analytics

Sep 22, 2014 11:16:00 AM

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In today’s ever-changing customer experience landscape, you need all the insight you can find to compete effectively, much less gain a leg up in the marketplace. However, your organization may be like many others—the customer data needed for better and faster decision-making is trapped within departmental silos, leaving little visibility and understanding across channels, interactions, processes and outcomes.

Meanwhile, customers aren’t slowing down and are using more channels than ever to interact with your business. They want to be engaged where they want, when they want and how they want. The result is an overwhelming amount of information in too many places—and an underwhelming amount of guidance on how (and where) to start analyzing and putting it into action.

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Topics: Customer Experience, Analytics, Big Data, customer engagement optimization, employee engagement, engagement analytics

How Omnichannel Is Changing the Retail Experience Forever

Posted by Susanne Pitts

Sep 19, 2014 2:53:00 PM

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More than ever before, retailers are tasked with tailoring their services to the needs and preferences of their increasingly sophisticated shoppers. However, customers are also more open than ever before with the information they are willing to provide—a distinct advantage for retailers.

By leveraging and examining all the information customers are willing to share—including previous purchases, voice and textual interactions, social postings and more—retailers can begin to create a truly personalized experience for each shopper. This investment now can potentially pay off in a loyal customer for years to come.

Verint’s Daniel Ziv, vice president, voice of the customer analytics, discusses the guidelines, potential pitfalls and opportunities with Customer Experience Report.

Read more.

 

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Topics: Retail, Customer Service, Customer Experience, customer engagement optimization, omnichannel

Top Seven Ways Banks Can Create a Smarter Video Surveillance System

Posted by Courtney Mamuscia

Sep 17, 2014 3:40:37 PM

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As the modern financial system has become increasingly complex, the threats facing today’s banks have kept pace.

Financial institutions of all sizes—from small community credit unions to large multi-national corporations—face a variety of challenges, including fraud, theft and even everyday accidents such as slip-and-falls.

To protect their facilities, high-value assets, employees and customers while helping to ensure the highest levels of customer service and efficiency, modern financial institutions can leverage leading video surveillance technology that is smarter and more intuitive than past systems.

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Topics: Video Intelligence Solutions, Surveillance Analytics, Video Management Software, Network Video Recorders, Video and Situational Intelligence, video analytics

Why Customer Journeys?

Posted by Koren Stucki - Solutions Marketing Director, Customer Analytics

Sep 16, 2014 3:33:00 PM

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There’s a lot of talk these days about “the customer journey.” You’ve probably either seen the term, used it yourself, or glossed over it as just another platitude or technology term du jour. However, in today’s competitive digital world where consumers can switch brands in the time it takes to swipe a screen, it’s a significant concept to understand, address—and ultimately—take action on.

So what exactly is a “customer journey"? In an article by McKinsey partner David Edelman, a customer journey is described as “The series of interactions a customer has with the brand to get something done.”1

So, pretty straightforward, right? All the interactions your customer has with your organization to accomplish a task. Well, the definition may be straightforward, but the actual customer journey is not! And, neither is gaining full insight into all the interactions that make it up.

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Topics: Customer Satisfaction, Customer Experience, customer engagement optimization

Tech Tip: Adding Descriptive Content to Surveys

Posted by Daniela Shelley - Product Support Associate, EFM

Sep 15, 2014 4:00:50 PM

When using Verint® Enterprise Feedback ManagementTM (Version 7.1 and higher), you may wish to explain specific keywords that might be unfamiliar to survey participants. At the same time—to enhance the user experience—you likely want to keep the amount of descriptive text on each survey page to a minimum.

The answer to this dilemma is to take advantage of the advanced feature called Survey Glossary. Click the “Survey Glossary” option in the left pane of the “Design” tab, and then type a keyword and the appropriate definition. Keywords are marked with a dotted line in surveys, and participants can view the definitions by simply hovering over them with the cursor.

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Topics: Customer Feedback Surveys, Enterprise Feedback Management, Survey Resources

Combining Customer and Employee Insights on the Customer Experience

Posted by Susanne Pitts

Sep 10, 2014 9:00:00 AM

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Organizations are gaining a better understanding that happy and engaged employees really do have an impact on whether or not customers have a positive experience with them.

Recently Verint’s Koren Stucki, solutions marketing director, customer analytics, spoke with CRM magazine about the advantages that organizations can gain when they combine voice of the customer and voice of the employee insights. One of the primary ones? They gain the ability to compare external and internal data to obtain a more complete picture of the overall customer experience.

Read more.

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Topics: Voice of the Customer, Voice of the Customer Analytics, voice of the employee, Customer Experience, customer engagement optimization

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