Two years ago, digital executives at Scotiabank looked at the state of mobile banking and recognized the opportunity to roll out targeted mobile marketing to existing customers using the firm's mobile apps. At the time, too few banks were leveraging mobile as a marketing, sales, and cross-selling touchpoint — a problem that is still evident among US banks.
But rather than simply throwing random banner ads at mobile banking users, the digital team at Scotiabank opted to take a targeted approach that served up relevant offers in the user's context, made the "buy" task flow as convenient as possible, and put the bank in position to expand the effort in future years.
As a result, digital executives at Scotiabank have seen mobile cross-selling rates — as measured by year-over-year growth in unit sales via mobile banking — more than double, up 165% since the firm launched this effort.
Scotiabank’s mobile cross-selling initiative is just one example of a brand embracing the idea of mobile moments. Forrester’s wider research shows that mobile moments are becoming a major battlefield in banks’ efforts to win, serve, and retain customers.
There’s no denying the importance of delivering an excellent mobile experience. As the pace of technology quickens, delivery cycles approach zero-day releases, and mobile moments reign supreme more than ever so now is the time to invest in the right priorities.The results from our 2015 DX Survey provided a vivid picture of digital experience technology organizations’ interesting insights. More specifically:
Enterprises manage an average of 268 customer-facing websites. When you compare this to the number of websites on the Internet, it is no surprise. However, having too many cooks in the kitchen is, so to speak. Many large enterprises we’ve spoken with have stated they have as many as 10,000 content creators and users using their digital asset management system. Being able to manage the extensive portfolio and volume of content creators has been a challenge for DX organizations.
Mark McCormick, newly in the position of head of user experience for wholesale Internet services at Wells Fargo, has led customer experience teams for 20 years, the past 12 of which have been at Wells Fargo. He specializes in managing large research, design, and content strategy teams and driving cultural values and practices around customer centricity, innovation, and, lately, simplicity. We sat down to talk more about simplicity leading up to Mark’s keynote at CXNYC 2015.
Q: You’ll be speaking about ethnographic research at the CXNYC 2015 Forum. Could you give us some background on the role of research at Wells Fargo, particularly as it relates to design?
A: Ethnography is an enabler to design and decision-making. Design and research have always gone hand in glove at Wells Fargo, usually reporting to the same manager and working in tandem on projects. But when I talk about research, I’m referring to a few different kinds of research. In the case of usability, there needs to be a bit of a wall between the designers and research in order to maintain the objectivity that’s needed. With ethnography on the other hand, ideally you would have designers, executives, and product teams all in the field, side by side with researchers. With that kind of research, and with the rich qualitative data that comes out of it, it is extremely fruitful if you get designers and researchers parsing the data together. Then everyone has a stake in it, and if they have a stake in the data, they end up using it.
Writing software to make the world a better place -- that's a lofty goal, even for Gavin Belson on the HBO hit comedy, Silicon Valley. Yet why is it that we've spent years doing the exact opposite with software in enterprise IT? We've built applications to simply show data living in our data centers. Have a lot of products to sell? Put them all on a web page! Myriad of services you offer to your customers? Throw them all on that web page too! If they really want our help, they'll figure out what it all means, right?
Unfortunately this is a terrible way to create applications, regardless if it's on the web, mobile, or any other emerging digital channel. The data is good, but we cannot start with our data in mind -- instead we must start with our customers' needs in mind. But why this change and why now? Our customers (and increasingly our employees) are being presented with so many more options from your competitors, both those known today and tomorrow's digital startups. Simply put, the barrier to creating new software solutions is approaching zero. Making this transformation is central to the BT Agenda -- applying technology to win, serve, and retain customers.
In late April I once again attended Huawei’s annual analyst meeting in Shenzen, China. As with my last trip to this event, I approached it with a mix of dread and curiosity – dread because it is a long tiring trip and doing business in China if you are dependent on Google services is at best a delicate juggling act, and curiosity because Huawei is one of the most interesting and poorly understood of the large technology companies in the world, especially here in North America.
I came away with reinforcement of my previous impressions that Huawei is an unapologetically Chinese company. Not a global company that happens to be Chinese, as Lenovo presents itself, but a Chinese company that is intent upon and is making progress toward becoming a major global competitor in multiple arenas where it is not dominant now while continuing to maximize its success in its strong domestic market. A year later, all the programs that were in motion at the end of 2014 are still in operation, and Y/Y results indicate that the overall momentum in areas where Huawei is building its franchise, particularly mobile and enterprise IT, are, If anything, doing even better than promised.
By now we all know that federal customer experience (CX) is disastrously weak and that improving it will boost both agency operations and the health of the political system.
We’ve also seen some pockets of hope popping up, as I predicted a few months ago. For instance: The Department of Education’s new portal is complete, the Department of Veterans Affairs My HealtheVet site now offers online tracking for mail-order prescriptions, and BusinessUSA.gov combines thousands of pieces of information from several federal agencies into a single site for entrepreneurs and business owners. Other improvements are still in the works, like 18F's upgrade of the Department of the Treasury's My Retirement Account website and the Office of Personnel Management Innovation Lab's redesign of USAJobs.gov.
These isolated projects are good, but not good enough. It’s time for federal agencies to get beyond one-off tech tasks and the find-and-fix mentality to truly institutionalize CX improvement throughout their organizations. And that means treating CX not as a sideshow, but as a real business discipline. To do this, agencies must systematically perform the practices associated with all six CX disciplines — strategy, customer understanding, design, measurement, governance, and culture. Right now, federal agencies are failing in all of these areas.
We are notoriously bad at knowing ourselves. Science shows that we are not quite as beautiful, or smart, or ethical as we would like to think. As a result, our self-proclaimed beliefs do not always translate into action; often, we say we’ll do “the right thing” but (consciously or not) we’ll proceed to do the opposite. Are we really nothing more than delusional creatures of habit bound to repeat our mistakes? No – actually, far from it. Certain individuals are hyperaware of their values and follow through on decisions and actions accordingly. Although a small group, these consumers spark awareness, change their behavior, demand transparency, and inspire trends.
My latest report examines what, when, and why consumers buy, when values are central to their decision-making process. In my research, I found that, despite limited knowledge and patterns of self-deceit, consumers want to purchase from companies that embrace ethical practices. More broadly, consumers are becoming increasingly aware of company values and are opening their wallets when company values resonate with theirs:
No one disputes that treating customers well is the right thing to do: Virtually all respondents in a Forrester survey of CX professionals said that executives at their companies consider customer impact to be at least somewhat important when making business decisions. But compared with hard return on investment (ROI) numbers in business cases for other initiatives, CX projects won't get needed funding if their estimated returns are limited to benefits like improved satisfaction or higher Net Promoter Score (NPS).
Step 1: Prioritize customer experience improvement opportunities. Most companies are spoiled for choice when it comes to finding parts of the experience to improve. But all that choice can be debilitating when trying to decide how to best allocate scarce resources and small budgets. Core customer experience activities like collecting insights from customers and employees and mapping customer journeys are valuable in this step to help companies identify the improvement projects that will have the greatest CX impact.
Unfortunately, visa issues prevented me from attending the OpenStack summit in Vancouver last week — despite submitting my application to the Canadian embassy in Beijing 40 days in advance! However after following extensive online discussions of the event and discussing it with vendors and peers, I would say that OpenStack is moving to a new phase, for two reasons:
The rise of containers is laying the foundation for the next level of enterprise readiness. Docker’s container technology has become a major factor in the evolution of OpenStack components. Docker drivers have been implemented for the key components of Nova and Heat for extended computing and orchestration capabilities, respectively. The Magnum project aiming at container services allows OpenStack to create clusters with Kubernetes (k8s) by Google and Swarm by Docker.com. The Murano project contributed by Mirantis aiming at application catalog services is also integrated with k8s.
The age of the customer demands more of companies, forcing them to change how they develop, market, sell, and deliver products and services. In response, CIOs must invest in business technology (BT) — the technology, systems, and processes to win, serve, and retain customers. At Forrester’s Forum For Technology Leaders in Lisbon (June 2-3), leaders from firms like BMJ, Portugal Telecom, BBVA, Mastercard, Alliander, DER Touristik and UniCredit will share strategies that you can use to achieve Read more