Banks Make It Clear: We’re Sticking It To You With Fees

Harley Manning

An article in Boston.com highlighted the fact that many big banks still don’t understand what customer experience is or why it’s the biggest single driver of business success for most companies.  

Apparently Citigroup is about to join a “growing number of banks and credit unions” that have adopted some version of a one-page disclosure form. That form makes it easier for customers to see and understand fees.

Now don’t get me wrong: Making it easier to understand fees is a step forward. After all, ease of doing business is the second level of the customer experience pyramid and only slightly less important than meeting customer needs.

What has me shaking my head is the next part of the article. It says that these new summary pages come in response to complaints about rising fees, including fees that few customers knew about in the first place, like a fee for getting a paper statement and — my personal favorite — a fee for closing an account.   

A fee for closing an account? Really? I may be old-fashioned, but I’m used to paying people to perform a service for me, not paying them to stop performing a service for me.

Here’s why the whole “fee transparency” thing misses the point: Your bank really, really wants you to open more fee-generating accounts with it. When you add a savings account or CD to your checking account, or take out an auto loan or a home equity loan, you ring its cash register.

Read more

Unexpected Musical Fun: "Outside In" The Song Rocks Day Two Of Forrester’s Customer Experience Forum

Harley Manning

I’m still digging out from all the things that I put off until after last week’s Customer Experience Forum in New York. Even so, I didn’t want to let too much time pass before sharing some unexpected fun we had on Wednesday morning.

It actually started on Tuesday afternoon when I received an email from the co-author of our upcoming book, Kerry Bodine, which said:

“Have you seen this??? Amazing!

http://blog.neolane.com/events-2012/forresters-book-eve-6-treatment-song/

Lyrics below the video.”

The short note included a link to a blog post with a song. The blogger, Ed Hadley, a senior marketing manager at Neolane, had written new lyrics to the Eve 6 song “Inside Out,” turning it into “Outside In.” I was skeptical, but I trust Kerry’s judgment, so I played the song and loved it.

After some quick back-and-forth between our event producer (Katie Petroff), Neolane’s vice president of marketing (Kristin Hambelton), and one of our backstage producers (the unflappably cool Dave), we had the song ready to play as part of my Wednesday morning opening remarks. As it played, Dave scrolled the lyrics karaoke-style. The audience clearly thought it was fun — lots of laughter and a big round of applause at the end.

Read more

Announcing Forrester's 2012 Voice Of The Customer Award Winners

Adele Sage

We just announced the winners of Forrester’s 2012 Voice Of The Customer Awards (VoC) at our Customer Experience Forum this afternoon. We received roughly 40 nominations, and yet again, we were incredibly impressed with the breadth and depth of the submissions. We broadened our scope, too: For the first time, we accepted nominations from around the world.

To evaluate the submissions, each of our three judges graded each nomination based on five criteria: clarity of approach, impact on customers’ experiences, impact on business performance, degree of innovation, and lessons provided for other firms. The nominees with the 10 best scores were named finalists. The top three scorers were named winners.

And here are the results . . .

The 10 finalists (in alphabetical order) are:

  • American Cancer Society
  • American Family Insurance
  • Barclaycard US
  • Cisco Systems
  • ExactTarget
  • InterContinental Hotels Group
  • JetBlue Airways
  • OpenText
  • UnitedHealthcare Medicare and Retirement
  • The Vanguard Group
Read more

Design Thinking For Improved And Innovative Customer Experiences

Kerry Bodine

Today at Forrester’s Customer Experience Forum in NYC, I’ll be running a workshop to introduce our clients to design thinking. What is design thinking? It’s an approach and a process that you can use to improve and innovate customer interactions across all of your digital and physical touchpoints.

To understand what that really means, it would probably help to know a little about what we’ll be doing in the workshop. Teams of two will start out by interviewing each other about a recent gift giving experience. Through questions like, “How did you come up with the idea for the gift?” and “What was difficult about finding and giving this gift?” they’ll try to uncover each other’s motivations, needs, and emotional drivers. Immediately after, they’ll synthesize their individual learnings and focus on a particular challenge that they want to take on — a gift-giving problem that they want to solve for the other person.

Then they’ll sketch out at least five different ways that they could address that problem and get feedback from their partner (and target customer) about those ideas. After they refine their solution, they’ll prototype it using large sheets of paper, sticky notes, popsicle sticks, pipe cleaners, colored markers, and other craft supplies. This may sound like playtime — and it will be fun — but it’s also a serious and highly effective way to make their ideas tangible and testable. And testing is exactly what will come next. The partners will share their solutions with each other and get feedback about what worked well and, perhaps more importantly, what could be improved.

Read more

Q&A With Phil Bienert, SVP Consumer Digital Experience, AT&T

Harley Manning

It’s amazing to me how many times the telecommunications industry came up as we did the research for our new book, Outside In. From wireless service providers to cable companies, whether in the US, Germany, or Australia, it became clear that customer experience is the battleground of the immediate future for the companies that bring us our voice, data, and entertainment content.

That’s why I’m so excited to bring Phil Bienert to the stage of our Customer Experience Forum 2012 East next week. Phil is a longtime customer experience advocate and expert, whom we first met when he worked at Volvo. He’s always been a clear thinker and visionary when it comes to digital experiences, and he’s now bringing that thinking and vision to AT&T.

In advance of his speech, we put some questions to Phil about what AT&T is trying to do and how it’s planning to do it. Some of his answers will surprise you. Enjoy! Phil Bienert

How would you describe the experience that you want AT&T customers to have?

Effortless. Customers interact with AT&T across many touchpoints — online, mobile apps, our call centers, and more than 2,300 retail stores — and it’s essential that we make all of these interactions seamless, within touchpoints and across touchpoints, each and every time. We want to make it easy for customers to do business with us, however they prefer to contact us, and to get their question taken care of the first time.

Read more

Healthcare Customer Experience Insight At Forrester's Customer Experience Forum — Wednesday, June 27th — New York, NY

Jonathan Browne

I'm excited that I'll be spending time with Forrester clients next week at Forrester’s Customer Experience Forum 2012 East. On the second day of the forum (Wednesday, June 27th), there are two industry presentations of particular interest to healthcare industry executives:

 

1. 11.30 a.m. - 12:00 p.m.: Patient Empowered Healthcare

Matt Eaves

Matt Eaves (director, engagement, Cancer Treatment Centers of America) will talk about the patient-centric interactive experience that his organization created in collaboration with interactive design agency, EffectiveUI.

 2. 2.00 p.m. - 2.45 p.m.: Bucking The Trend In An Industry That Delivers Poor Customer Experience

Torben Nielsen

Read more

Q&A With Kevin Peters, President, North America, Office Depot

Harley Manning

Yesterday I wrote a post inspired by insight from Kevin Peters of Office Depot. Today we’re going to hear from the man himself!

My co-author (Kerry Bodine) and I were so impressed by what Kevin’s been doing to reinvent customer experience at his company that we open our upcoming book with a case study about him. We’re also fortunate to have him to speak at our Customer Experience Forum 2012 East in New York just a week from today (June 26th).

Whether you’re going to get a chance to hear Kevin speak next week or not, I’m sure you’ll enjoy the insight he provides in his answers to some questions we sent him. My favorite nugget: Depot Time!

So without further ado . . . heeeeeere’s Kevin!

1.  How would you describe the experience that you want Office Depot customers to have?

We care about providing solutions, not just selling products. At the end of the day, we need our customers more than they need us. That philosophy must guide everything that we do. Our customers must feel that their business is valuable to us. To that end:

  • They are greeted at the front door and feel welcomed and appreciated.
  • Their success is our success.
  • Their problems are our challenges to be solved.
  • They are recognized and remembered when they return.
Read more

You Need Your Customer More Than Your Customers Need You

Harley Manning

Customers today have more choices than ever. Not only that, they have more information about those choices than ever. And they can get that information anytime, anywhere, and on whatever device they happen to be using at the moment. These changes have collectively put customers in the driver’s seat.

If you’re a fan of strategy guru Michael Porter, you can think of this as a shift in one of his five forces of competition: buyer power. But even without a sophisticated analytical framework, you can feel this change in your daily life. That’s because you’re a customer, too, by virtue of the fact that you buy goods and services, day in and day out.

Try comparing the power you used to have as a customer with the power you have today. I recently tried this exercise by comparing the way I picked my bank in 1998 — when I  moved to the Boston area for a job — with the options I have for picking a bank today.

In June of ’98, I wanted to switch to a local-area bank but didn’t know where to begin. I dreaded doing the research on top of moving my home and starting a new job. The woman who recruited me suggested that I sign up with Bank Boston because it had the most ATMs in our area. With a sense of relief, I did just that and went on with my life.

Over the intervening years, Bank Boston was acquired by Fleet Bank, which was later acquired by Bank of America. Today that makes me a Bank of America customer, even though I never decided to do business with it. Fortunately, the relationship has worked out okay. But what if it stopped being okay and I wanted to switch? How hard would it be to pick a new bank and switch in 2012?

Read more

Countdown: T Minus Two Weeks Until The VoC Award Winners Announcement!

Adele Sage

Where will you be at 5:20 p.m. on Tuesday, June 26th? I know where I’ll be: announcing the winners of Forrester’s annual Voice Of The Customer Awards at Forrester’s Customer Experience Forum in NYC!

We’ve read through the incredible submissions, graded them, picked our finalists, and picked our winners. And I’ve been busy for the past few weeks organizing everything for the big announcement on June 26th and the Forum track session panel featuring the three winners that’s happening on Wednesday, June 27th, at 1:20 p.m.

Yes, you heard right. This year I’m not just announcing the winners on Day 1; I’m also moderating a track session where you can hear more about the winning programs. First, the companies’ representatives are going to describe the types of improvements they’ve made and the business results associated with those improvements, and then I’m going to open up the floor to Q&A. This is your chance to ask the burning questions about what makes these programs so successful.

So, sign up for the event, and stay tuned on my blog for the big announcement in two weeks!

Why Customer Experience Is Critically Important To Marketing At FedEx: The SVP Of Marketing Weighs In!

Harley Manning

One of the great pleasures of working on our upcoming book, Outside In, was interviewing customer experience leaders at great brands like FedEx. I was fortunate enough to be able to talk with Laurie Tucker, SVP of corporate marketing at FedEx, to get her story. I was so impressed by the work that's going on in her group that I invited her to speak at our Customer Experience Forum in New York on June 26th to 27th (she's on the morning of June 27th).

As a prequel to some of what we'll hear from Laurie at our event, we sent her questions about the FedEx customer experience and why she sees it as a competitive advantage. Her answers appear below.

Enjoy!

Q: How would you describe the experience that you want FedEx customers to have?

A: Relationships oftentimes start with a simple handshake. For example, when you meet someone for the first time and extend your hand in greeting, you’re offering to build a relationship. In the same way, we want to offer a hand to our customers to establish a personal and meaningful connection. After all, FedEx is more than just delivering packages. We’re an innovative company that thrives on delivering solutions and programs that meet our customers’ needs and expectations.

Read more