Collaborative Innovation Part 2: Good isn’t good enough for consumers anymore.

As we mentioned in a recent blog post, collaborative innovation is at the core of everything we do. We are relentless in our pursuit of innovation that springs from close cooperation with others.

Today, we’re sharing insights from a collaboration with Harley Manning, vice president and research director at Forrester Research, Inc. The second in a series of posts that capture insight from industry experts, Manning shares his thoughts on how financial institutions can create and sustain customer loyalty by creating not just a “good” experience but a “great customer experience.”

According to Manning and his research, consumers expect:

  • Effectiveness
  • Ease
  • Emotion

Effectiveness is the value from the experience, ease is the simplicity of the experience and emotion is feeling good about that experience. In the past, a business may have been able to get away with two out of the three. Today, consumers want all three at a very high level.

That means creating effective channels, user-friendly interactions and an emotional bond that creates loyalty and, hopefully, long-term relationships.

In addition to his findings on consumer expectations, Manning outlines how to systematically improve customer experience in a way that drives business value.

See how his findings directly correlate to the financial industry and what steps need to be taken to ensure great consumer experiences.

Click here to view the entire Collaborative Innovation series of videos.