It’s that great time of year when I finally get to talk publicly about Forrester's Forum For Customer Experience Professionals in New York at the end of June. If you’ve ever been to one of our events, you know that we always have a theme, and this year that theme is “Why Good Is Not Good Enough.”
We picked our theme because of the good news/bad news story told by our Customer Experience Index (CXi) results this year. First, here’s the good news: The number of brands in the “very poor” category of the CXi is down to one out of 175 brands we studied. What’s more, only a handful of brands — 10% — are in the “poor” category. Together, those findings show that as customer experience improvement efforts got traction over the past year, the number of truly awful experiences dropped like a rock.
Now for the bad news: Just 11% of brands in the CXi made it into the “excellent” category.
Taken together, those two pieces of news mean that most brands are bunched up in the middle of the curve — not awful in the eyes of their customers but not differentiated either. I think of this situation as “okay is the new poor” or, in my darker moments, “the year of ‘meh.’” Regardless, it adds up to the same thing: A merely good customer experience is no longer good enough if you want incremental sales, positive word of mouth, and better customer retention.
Our report lays out many commonly-encountered obstacles to mobile banking execution success and how digital teams can overcome these obstacles. Here are a few of the areas the report looks at:
Overly ambiguous — or nonexistent — business goals. Clearly articulated business goals should be part of a bank's mobile strategy. But a successful road map also lays out the business objectives and records specific goals for each initiative. As one eBusiness executive at a bank told us, "We literally have a section we call 'What's in it for us?' and we use sticky notes to write out what we think we can gain from each action."
Legacy systems and back-end integration. Technology may well be the largest obstacle to executing a mobile banking strategy — especially for larger, traditional banks. As such, successful mobile road maps need to outline how initiatives will plug into existing or soon-to-come platforms and systems.