For Business Process Professionals

Adding Social Media To Customer Service Initiatives Can Break Down Barriers To Change

by Natalie L. Petouhoff, Ph.D., February 11, 2010

According to Forrester data, 91% of executives say that customer experiences are critical or very important to their businesses, nearly 5,000 consumers prefer better customer experiences over lower prices, and better customer experiences drive higher . . .

For eBusiness & Channel Strategy Professionals

Increasing Online Insurance Self-Service Adoption

Nine Tactics To Increase Adoption, Serve Customers, And Lower Costs

by Chad Mitchell, February 8, 2010

Insurance online self-service continues to gain momentum, but customer adoption remains low. We found that 55% of US online adults who own insurance have not visited their insurance provider's Web site in the past year. eBusiness managers for direct and . . .

For Application Development & Delivery Professionals

The Banking Platform Of The Future

Implementing Ubiquitous And Industrialized Banking

by Jost Hoppermann, December 8, 2009

Ubiquitous banking, industrialization, new core competencies, and the right balance of collaboration among competitors are key drivers for the banking platform of the future. A new interaction- and process-focused front end combined with the delivery . . .

For Customer Experience Professionals

Consumers Expect Poor Service Experiences

Customer Service Expectations Across 10 Industries And Five Generations

by Bruce D. Temkin, December 2, 2009

Most customers say they prioritize service over price when choosing to do business with a company. But consumers expect a poor experience when trying to resolve a customer service issue. Expectations are not the same across industries. Consumers expect . . .

For eBusiness & Channel Strategy Professionals

European Banking Customers Continue Migrating Away From The Branch

Branches Are Losing Their Role As The Heart Of The Customer Relationship

by Alexander Hesse, October 28, 2009

The number of consumers visiting branches each month is falling slowly but steadily across Europe. Branch users tend to be lower-value customers who use branches mainly for day-to-day transactions like depositing and withdrawing money. Although online . . .

For eBusiness & Channel Strategy Professionals

How UK Banking Customers Use Different Channels

by Benjamin Ensor, October 9, 2009

The steady growth of online banking in the UK over the past decade is changing the way people use other banking channels. Half of UK adults still visit a branch each month, although the number of regular branch users has fallen. Banks' efforts to persuade . . .

For eBusiness & Channel Strategy Professionals

The Web Channel Has A Key Role In Cross-Selling Financial Products

by Brad Strothkamp, September 29, 2009

Forrester has published a report to help financial service product executives understand and exploit opportunities to cross-sell existing customers into broader relationships. This report is also critical for eBusiness and channel strategy professionals. . . .

For Consumer Product Strategy Professionals

Solving The Cross-Sell Imperative In Financial Services

Moving Beyond Desire To Actually Get Customers To Buy More

by Brad Strothkamp, September 25, 2009

The goal of cross-selling additional products to consumers is the mantra of every business executive, regardless of industry. But in financial services, it has been mostly an elusive goal: A good portion of consumers are open to buying multiple products . . .

For eBusiness & Channel Strategy Professionals

Financial Web Sites Need Customer Service Help

Financial Services eBusiness Customer Service And Support Benchmark, 2009

by Diane Clarkson, Elizabeth Stark, July 31, 2009

As part of a larger analysis of 90 Web sites, Forrester evaluated the availability of online customer service and support among 30 leading financial services Web sites. Forrester found that most sites delivered inconsistent customer service availability, . . .

For Technology Sales Enablement Professionals

Hot Insurance Tech Companies To Watch In 2009: Q2 Update

by Ellen Carney, June 29, 2009

The past year has tested the mettle of the insurance industry. Insurers like The Hartford Financial Services Group and Lincoln National Group converted to bank holding companies to take advantage of Troubled Asset Relief Program (TARP) funds. The downturn . . .

For eBusiness & Channel Strategy Professionals

Using Channel Satisfaction Data To Build The Business Case For eBusiness

by Carrie Johnson, Elizabeth Davis, May 26, 2009

Forrester recently released a report showing the results of a survey of more than 4,500 US consumers and their level of satisfaction with Web, phone, and in-person interactions across 12 different industries. The report allows eBusiness and channel strategy . . .

For eBusiness & Channel Strategy Professionals

What Makes Credit Union Customers Different?

Greater Loyalty, More Trust, And Higher Interest In Product Purchase

by Brad Strothkamp, Peter Wannemacher, May 13, 2009

US credit unions currently serve more than 90 million members and control 18% of the US checking account market. Credit union customers tend to own more financial products and are more likely to bank, view statements, and pay bills online than customers . . .

For eBusiness & Channel Strategy Professionals

Trends 2009: European Retail Banking eBusiness And Channel Strategy

The Financial Crisis And The Recession Have Changed Priorities For Executives

by Benjamin Ensor, May 12, 2009

Under the impact of the financial crisis and the recession, eBusiness and channel strategy executives at European retail banks will focus on retaining customers and increasing efficiency in 2009. In this environment, we expect to see eBusiness and channel . . .

For Customer Experience Professionals

The Experiences That Satisfy Consumers, 2009

US Consumers Rate Firms' Web, Phone, And In-Person Interactions

by Bruce D. Temkin, April 14, 2009

How well do experiences meet the needs of customers? Not very well. A survey of more than 4,500 US consumers shows a low level of satisfaction with Web, phone, and in-person interactions across 12 different industries. It turns out that Web interactions . . .

For eBusiness & Channel Strategy Professionals

What US Mass-Affluent Investors Want From Their Investment Firms' Web Sites

Account And Portfolio Data Remain Most Important

by Bill Doyle, Peter Wannemacher, April 9, 2009

Mass-affluent investors represent one-third of all US households and control about the same proportion of retail investment assets. Four in five online mass-affluent investors have visited their primary investment firm's Web site, and the majority have . . .

For eBusiness & Channel Strategy Professionals

Case Study: Customer Centricity Drives Esurance’s eBusiness Strategy

by Chad Mitchell, March 23, 2009

Over the past decade, US direct insurer Esurance has survived the dot-com bubble while carving out a growing share of the auto insurance market. The firm established itself as a viable challenger brand to direct insurance Goliaths GEICO and Progressive . . .

For eBusiness & Channel Strategy Professionals

Using Electronic Alerts To Deepen Financial Customer Relationships

Target Channel And Content Preferences To Drive Demand

by Edward Kountz, March 13, 2009

US financial institutions seeking to deepen relationships through improved customer communications are deploying proactive email and SMS alerts. In tight economic times, this strategy offers a way to deepen relationships with key customers by enabling . . .

For Customer Experience Professionals

Customer Experience And Loyalty: A Closer Look

Impact Of Usefulness, Ease Of Use, And Enjoyability Differs Across Industries

by Bruce D. Temkin, March 6, 2009

Forrester examined the correlation between customer experience and loyalty across 12 industries: airlines, banks, cell phone service providers, credit card providers, hotels, insurance firms, Internet service providers, investment firms, medical insurance . . .

For Customer Intelligence Professionals

Case Study: First Tennessee Bank Elevates Customer Insight To The C-Suite

by Dave Frankland, March 3, 2009

First Tennessee Bank leverages insight from its marketing and customer analytics team throughout its business. However, five years ago, the team had limited intelligence on its customers and leveraged a marketing customer information file (MCIF) data . . .

For eBusiness & Channel Strategy Professionals

The Recession's Impact On US Consumers' Financial Behavior

The Crisis Affects Consumers' Likelihood To Switch Banks And Use Credit

by Edward Kountz, Peter Wannemacher, February 24, 2009

More than half of all US online adults say their personal financial situation has gotten worse in the past 12 months. Just one-third of these consumers think their circumstances will improve in 2009. There is some good news for banking executives though: . . .

For eBusiness & Channel Strategy Professionals

Case Study: New York Life's eBusiness And Agents Live Happily Ever After

A Revamped eBusiness Strategy Scores By Selling The Agent Appointment

by Chad Mitchell, February 20, 2009

In 2001, New York Life Insurance's Web site, which was intended for communication, education, and service, was not meeting its customers' or agents' needs. Web analytics showed that customers were trying to use the Web site to connect with agents, yet . . .

For Customer Experience Professionals

Customer Experience Correlates To Loyalty

Customer Experience Is Even More Correlated To Loyalty Than Last Year

by Bruce D. Temkin, February 17, 2009

Using data from nearly 4,700 consumer surveys, Forrester examined the correlation between the customer experiences delivered by more than 100 US firms and the loyalty of their customers. Our analysis shows that good customer experience correlates to consumers' . . .

For eBusiness & Channel Strategy Professionals

What US Affluent Investors Want From Their Investment Firms' Web Sites

Account Data Is Most Important, With Vanguard Rated Highest For Quality

by Bill Doyle, Peter Wannemacher, February 12, 2009

More than three-quarters of all US online affluent investors use their investment firms' Web sites, up from two-thirds in 2005. What site features do they value most? Balances and holdings are by far the most important. Online trading has also become . . .

For Enterprise Architecture Professionals

The Forrester Wave™: Global Banking Platforms, Q1 2009

A Compact Group Of Banking Platforms Offers Agile Banking Support

by Jost Hoppermann, January 30, 2009

Forrester evaluated world-leading banking platform products across 108 criteria and found that Infosys Technologies with Finacle, TCS Financial Solutions (TCSFS) with TCS BaNCS, and Temenos with T24 are in the Leader category. Infosys with Finacle scores . . .

For eBusiness & Channel Strategy Professionals

Lessons In How To Retain Financial Services Customers

Insights From Industry Keynote Presentations At Forrester's 2008 Finance Forum

by Bill Doyle, December 8, 2008

In times of crisis, smart financial services firms focus on the customers they already have. Smart channel strategy executives do their part by delivering superior customer experiences. At Forrester's 2008 Financial Services Forum For Marketing And Strategy . . .