There is no better way to understand customers than seeing the world through their eyes. How easy is it to interact with your company? How long does it take before consumers receive the support/information they need? What are the exact steps they need to follow?
Customer journey mapping is useful to answer those questions and deliver personalized and highly relevant experiences. And the impact is measurable – e.g. reducing consumer complaints by close to 20% in just one year. That’s why brands, particularly in the financial services sector, are reconsidering how to streamline such journeys.
Personalized customer journeys helps Financial Services brands to improve sales
In the words of Vicky Smith, Head of Qualitative Insight at KPMG: “It is about ensuring every interaction is grounded in the needs of the customer and as such, is as good as it can possibly be, in the most personal and efficient way possible.”
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The time has come for marketers to leverage the top business benefits of customer journey mapping. And companies which don’t put enough efforts in the process will soon be left behind.
Here are top 5 benefits of Customer Journey Mapping :
1. Bridging the Gap between Sales, Marketing, and Operations
Functions often follow a siloed approach as they communicate with customers – failing to exchange data and therefore not providing a seamless experience. This creates unnecessary friction as insights remain scattered across departments and inhibit innovation. For instance, marketers and product managers could learn a lot from interactions between consumers and the support team to improve features and send targeted content real time at each step of the decision-making process.
2. Better Understanding Your Customers
Another advantage of customer journey mapping is the ability to anticipate how users may react under different circumstances with the potential to identify operational inefficiencies. For example, a complicated interface or the lack of relevant content can result in a lot of support calls and/or a drop in your retention rate. Mapping those reactions might thus save brands a lot of time and money.
3. Building an Emotional Connection
Buying a product or subscribing to a new service can be a very emotional process and a robust customer mapping capture at least one-fourth of those feelings. This, in turn, highlights what type of content is most likely to resonate with each type of audience and defines which voice/tone should be used.
4. Identifying Holes and Fill Them with Effective Touch Points
Improving customer experience through customer journey mapping also consists in fixing the bumps consumers encounter on the road with your products and services. According to McKinsey, this can be done by making sure you “understand how customers navigate across the touchpoints as they move through the journey” – providing the information at the right place and time to minimize confusion.
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5. Predicting Brand Success and Customer Behaviours
Organizations often follow the same or similar processes across product lines and brands. Therefore, learnings can be retrieved from customer maps to develop best practices and anticipate what type of content is likely to be required by consumers as you modify existing products and/or introduce new ones.
Knexus platform leverages customer journey maps to deliver meaningful content from any data source to drive sales and build long-lasting relationships with your consumers. Learn more now.