Any professional working in the banking industry would tell you that customers are their most important asset. In these unprecedented times, banks have a responsibility to prioritize customer needs and support essential workers, alleviate anxiety, and respond to shifting tastes and preferences. As customers continue to face extraordinary financial circumstances, with new federal assistance programs, loans, mortgage freezes, changing retirement plans, or other potential financial hardships, banks have an opportunity to prove to their customers how they can provide a customer-focused banking experience.
However, with limited in-person interactions and feedback opportunities, it can seem nearly impossible to know what your customers want and need from you during this time. That’s why Microsoft Dynamics 365 Customer Voice provides organizations with a simple solution to gather and track customer insights that matter most.
Why customer data platforms matter: staying connected
Organizations have historically struggled to close the feedback loop to build a unified view of customers and employees, without having a pandemic to deal with. Fragmented data systems can create a disjointed view of your customer, making it difficult to proactively engage customers for feedback. By prioritizing data integration and implementing an end-to-end feedback management solution, which can close the feedback loop and build a 360-customer profile to stay connected to customers where and when they need you most. An ideal end-to-end feedback management solution empowers businesses to uncover and understand what drives a great customer experience and act on findings at the right time rather than merely react to negative feedback with small retroactive changes.
The first step towards a 360-degree view is to unify customer data across all data sources and business applications. These unified customer profiles can be further enriched with an array of first-party and third-party signals including customer feedback. Systems must seamlessly talk to each other to streamline and automate feedback collection to facilitate data analysis and to unlock powerful insights. These insights can then be activated in real-time within reporting dashboards used to trigger automated workflows that enable organizations to quickly act on customer feedback.
Optimize your digital approach
The first step to understanding customers is, simply, to listen. These days, banks are either closing branches or limiting walk-in customers and because of this they must adapt their services and operations to introduce new and necessary digital approaches.
Dynamics 365 Customer Voice not only makes it easy for you to create an end-to-end customer feedback management solution, but also makes it easy for you to customize and integrate feedback workflow with your business applications.
Democratize customer feedback across business applications
The banking industry is a highly saturated and commoditized market. Once you’ve started to collect feedback, the single, best way to differentiate your service and keep customers happy is to democratize your feedback across your entire organization. Often, we hear that customer feedback only gets collected and used by one or two people within the customer service team, when really it should be distributed across the entire organization and used to improve customer satisfaction and customer experiences across all areas of a bank’s business.
Dynamics 365 Customer Voice uniquely positions any user to adopt customer feedback into their business applications and processes with built-in integration points with all Microsoft applications and any third-party application through Microsoft Power Automate.
With feedback connected across all your business applications you can surface insights tied to a specific customer and get context behind why they were unhappy, and quickly follow up with the next best action. An integrated view means that you can prioritize customers who display high levels of worry or dissatisfaction or better allocate team resources by anticipating which customers need basic financial literacy education versus which customers are looking to set new financial goals via portfolio diversification.
Once you start using Dynamics 365 Customer Voice as your feedback management solution, you can gather and track customer metrics that matter to your business.
Source: https://cloudblogs.microsoft.com/dynamics365
Global iTS is a leader in business applications on Microsoft technology, driving digital transformation for enterprise clients including BFSI, Government, Energy & Utilities for two decades now. We enable next-generation digital services for our clients across multiple channels and deliver them on a platform of customer choice. Headquartered in the United Kingdom, we are present across GCC countries with a team of 200+ professionals. We have our core expertise in the banking industry across corporate, retail, investment, and compliance. We enable customer digital journeys bringing unprecedented levels of customer delight, helping FSI adapt to change, and improving their decision-making process.