The days when communication was primarily one directional are no longer in existence. In today's date people believe in using social media for all purposes. That is the very reason why all brands are shifting to providing customer support via social media platforms. Although the banking industry is more complicated than many other industry sectors, use of efficient social media monitoring tools can help make the process simpler.

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CUSTOMER
ENGAGEMENT
AND EXPERIENCE
MANAGEMENT
FOR BANKING
INDUSTRY

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In the age of digital media, providing
seamless customer experience is a
challenging task. Unlike traditional media
where the communication was primarily one
way, has changed lately to being more
conversational. And brands no longer have
control over these conversations.
This paradigm shift demands a new way for
managing your customer engagement and
experience. It has become a priority for
every brand to develop an effective
customer experience management program
and measure its success.
Customer experience is more than just
customer feedback. It is about
understanding their journey and gaining a
360 degree view of every customer.

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65%of organizations
have a formal CRM
program in place.
Source: The Service Council

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Loyalty
gives you the right to win
more business—but you do
have to ask for the sale.
Source: Bain and Company research on Global Banking Industry.

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Successful Customer Engagement and
Experience Management enables the
bank to increase their customer loyalty.

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5major aspects of Customer Engagement
and Experience Management.
Customer Satisfaction
Customer Retention
Customer Loyalty and
Advocacy
New Customer Growth Customer Sentiment
Continuous monitoring of customer’s
loyalty enables banks to reach out to
their customers with targeted
communication.
Keeping track of existing customer’s
tendency to shift banks could help
banks carry out pre-emptive measures.
Regular reach out program must
be carried out to understand the
customer’s satisfaction level.
Monitoring customer’s voice on
social media can help banks be
aware of their brand’s perception.
It is vital to measure the new
customers growth to understand
the performance of the CEEM
program.

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Customer Feedback Management
It is vital to have an integrated customer
feedback system that can gather feedbacks from
websites, social media, various touch points.
Cross-Functional Collaboration
Customer experience is not just about engagement with
customer support agents, it transcends across your product,
marketing, sales, service and support. Hence the system
needs to be a collaborative platform.
Customer Analytics
Understanding your customer from every
angle is vital to deliver personalized
experience with the brand.
Customer Experience Design
In order to deliver the best experience, the brand
needs to test and iterate various strategy across
multiple channels and measure their performance.
Customer Insights and
performance reporting
Regular measurement and reporting of customer insight and
the performance of your program is essential for the
success of the program.
5Main components
of Customer
Engagement and
Experience
Management

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Typical Customer Voice
break-down from a
banking industry.
Understanding customer’s voice on
social media can help banks prioritize
their Customer Engagement and
Experience Program.

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Customer Experience
Manager Control
Understanding customer’s voice on
social media can help banks prioritize
their Customer Engagement and
Experience Program.

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80%Reduction in the first
response time on social
media. A leading bank uses
Simplify360 to achieve this.
Source: Simplify360 Customer Case Study

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Simplify360
Customer
Engagement and
Experience
Solution
FOR BANKING
INDUSTRY

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• Enables organizations to monitor all social
media channels for customer voice.
• Enables organizations to capture feedback
from websites through form fill.
• Design customer surveys to understand
customer's satisfaction.
Customer Feedback
Management

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CRM Integration
• Enables organizations to connect with any
customer's core database system or
marketing automation tools.
• In-built workflow and routing feature to
manage customer feedback across the
organization.

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Customer Experience
Designer
• Enables organizations to manage all
their content across multiple social
media channels.
• Multi-channel engagement across social
media platforms.
• Measure performance of your marketing
campaigns and optimize them.

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Customer Insights
Dashboards
• Monitoring all the social media conversations
and derive trends and insights.
• Segment customer’s voice into various units
to measure the customer experience metrics.
• Carry out 360 degree profiling of your
customers to deliver targeted
communications.

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For more details
about Banking
Solutions,
Click here
Visit: www.simplify360.com

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THANK YOU
CONNECT WITH US

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