Connect Fall 2018 | Page 11

STELLAR CUSTOMER EXPERIENCE Research shows just one negative experience will cause 25% of your customers to stop doing business with you. Build a robust customer experience strategy by investing resources in five key areas. Customer experience (CX), the sum of all touchpoints between you and your customers, is an often-underdeveloped element of business strategy. Consider how these five components in the CX value chain can be strengthened with additional planning and resources. � INSIGHTS. Processes like market segmentation, persona develop- ment, and journey mapping can help you identify your customer and understand how to best interact during the entire customer experience. � TECHNOLOGY. Implementing a CX strategy across all divisions and devices will require the right digital and mobile technology. � PROCESSES. Avoid frustration and confusion and ensure consistency in your customer’s experience by developing and properly training on a well-planned set of CX standards. � INTERACTION. Empower employees with timely insights by capturing feedback in real time through a well- managed social media platform or post-interaction surveys. � DATA. Relevant consumer data and real-time analytics integrated across your organization allow you to monitor progress and adjust according to customer needs and market responses. In 2018, more than 50% of organizations will invest in customer experience innovations. RANKED ONE OF FORBES' BEST BANKS OF 2018 // CONNECT INNOVATION FALL 2018 // SNB.COM 11