As digital giants like Amazon and Google shoulder their way into the financial services sector, they bring with them a history of revolutionising customer experiences through personalisation. That makes it imperative for traditional financial services companies to up their game. As they go head-to-head with Big Tech, their success to a large extent will be determined by how well they understand each customer’s unique needs and are able to deliver hyper-personalised solutions, services, and content.
Today’s customers want experiences and recommendations that are tailored to their needs. They expect 1-to-1 service that is seamless across multiple channels. They want to be met with empathy and to have their queries resolved as quickly as possible.
Financial services companies are finding innovative ways to meet these expectations. Some are using behavioural analytics and advanced machine learning to capture deep insights on the customer, know their next move, guide them to where they want to go, and recommend the most relevant products, content, and categories.
Other companies are building a 360-degree view of the customer across sales, service, and marketing teams. This makes it easier for them to visualise important events and milestones in the customer’s life and drive more meaningful, personalised conversations.
Meanwhile, as customers interact with companies across multiple channels, some teams are creating a single source of customer truth to deliver connected customer experiences. At every touchpoint, they have updated, consistent, and contextual customer data to provide tailored services. And since all teams are connected to a single CRM, customers begin to see the company as one unit, rather than multiple disparate departments. The result is a consistent and seamless customer experience across channels and touchpoints.