1. Data overload
FIs, like many organizations, have so much data but don’t utilize it to define actionable insights. These insights should be used to create initiatives to drive change aligned with customer feedback which will deliver positive business outcomes relevant to the corporate strategy.
2. Inability to effect change
Companies that are most successful at CX indicate that responsibility starts at the top and ownership resides across all business functions. This approach will ensure you get all the buy-in and support you need from stakeholders across the company.
Every employee in every role has an opportunity to deliver positive experiences to their customers.
3. Utilizing incorrect metrics and key performance indicators (KPIs)
Reporting the right metrics to your C-suite and executive team is essential to your CX program’s success. It is critical to communicate the value of your CX programs and demonstrate the measurable impact these initiatives have on customer loyalty, growth and the business.