RESEARCH REPORT
Journey to a Customer Experience Map
BY JILL H E WIT T, CUS TOM E R E XPE RIE NCE SPECIA LIS T
Journey to a Customer Experience Map
Executive summary
F
inancial institutions are constantly seeking ways to more accurately predict
customer behavior and attitudes. Data models and traditional market research
often overlook a research methodology that can tell you what customers are
thinking, feeling and doing at each stage of their relationship with you. This
methodology, titled “customer experience mapping,” uncovers customer emotions
and attitudes through the entire customer life cycle, resulting in opportunities for
more relevant communications, better customer relations, higher retention rates,
and increased lifetime value.
60% of shoppers
who excluded an
institution from
consideration
did so because
they had a bad
experience or heard
negative things.
By cataloging key customer touchpoints and talking to customers about their
experiences during those key touchpoints, it’s possible to create a customer
experience map that provides a concise picture of what customers are thinking,
feeling and doing. The map not only identifies gaps in customers’ banking
experiences, it also delivers an actionable framework to improve them.
We spoke with a group of bank customers to identify the ideal experience they
wanted from their bank and asked them to compare that to their actual experience.
The stages we looked at included:
• Consideration
• Account opening
• Onboarding
• Day-to-day account management
• Expanding the relationship
• Account close
Page 2
©2014 Catalyst. All rights reserved.
Journey to a Customer Experience Map
Why does customer experience matter?
W
hen asked why they would NOT consider banking with certain financial
institutions and why, 60% of shoppers who excluded an institution from
consideration did so because they had a bad experience or heard negative things.
REASONS CONSUMERS
WON’T CONSIDER A
FINANCIAL INSTITUTION:
I had a bad experience
with this institution
I’m unfamiliar with
this institution
38%
33% 9%
22%
I heard negative things
about this institution
Inconvenient branch
or ATM locations
Source: Novarica © January 2014, The Financial Brand
1. Bad customer experiences are shared … and shared …
and shared
Years ago, a bad customer experience took a lot longer to permeate the public
than it does today. But with social media and ratings and review websites like
Mybanktracker and Findabetterbank.com, word gets around a lot quicker.
Page 3
Journey to a Customer Experience Map
2. Good customer experiences make a brand stand out
Good reviews are also shared. These two banks had the confidence to allow
reviews directly on their website—good, bad or indifferent.
3. Your customers’ experiences impact the bottom line
If your marketing is primarily focused on checking acquisition, as is typical of
most banks, you may find yourself struggling to replace customers who leave or
never activate … in essence, pouring new customers into a leaky bucket. Unless
you find and fix the issues that are causing your customers to leave, by year end
you could be looking at a net loss in customers.
L AST 12 MONTHS—
PERSONAL CHECKING
OPENS/CLOSES
Current customers
15% growth—new active accounts*
20% loss—accounts closed
*30% of new accounts never really become activated.
Page 4
Journey to a Customer Experience Map
Why do you need a customer experience map?
Y
our customers are demanding a good omni-channel experience. Recent studies
have shown that1:
45% of customers prefer an omni-channel shopping experience
68% of consumers use two or more screens at the same time to access
unrelated content
54% of marketers cite not having a consolidated customer view across channels
as the biggest roadblock to a successful cross-channel experience
While marketers recognize the need to adopt an omni-channel strategy, many are
struggling to successfully connect consistently with consumers across all available
outlets. Most organizations are structured to focus on individual channels,
touchpoints, technologies or features rather than the overall brand. A customer
experience map bridges this gap and examines how customers interact with your
brand during each stage of the customer life cycle.
SAMPLE CUSTOMER EXPERIENCE MAP
Banking Customer Experience Map
The path to purchase and beyond
Customer life cycle stages
Illustration of customer journey
Consideration
Account Opening
Onboarding
Day-to-Day Account Management
Expanding Relationship
Ending Relationship
• Identify the need for a new financial account
• Choose a financial institution and account type(s)
• Set up online or mobile banking services
• Deposit money
• Monitor financial health
• Identify the steps necessary to move financial assets
• Assess financial institutions and account types available
• Open account(s)
• Set up direct deposit
• Withdraw money
• Identify the need for new financial services
• Close account with financial institution
• Receive confirmation and account numbers
• Order checks
• Check balances
• Learn about products or services available
• Receive ATM/debit/credit card
• Pay bills
• Add or change account products/services
View advertisements
Doing
CUSTOMER JOURNEY
Steps
Customer thinking
Call a representative
Evaluate financial situation
Visit website
Apply online
Visit branch
Speak with a
representative
Receive account
opening documents
Pay bills
Deposit money
Download
mobile app
View mail promotion
Add account
Check rates online
Fill out
application
Receive account
opening documents
Receive
materials
in the mail
Send direct
deposit info
Sign up
for online
banking
Learn about new services
View cross-sell promotions
Log in
Initiate account
closing
Receive account closing paperwork
Withdraw money
Visit branch
Talk with friends
Call representative
Receive
paperwork to sign
Fax/email signed
paperwork to bank
Research products/services
Receive account
opening documents
Call a rep
Visit branch
Receive statements and alerts
Positive
THINKING
Transfer money and check balances
• Who do my friends and family bank with?
• Will it be difficult to open a new account?
• What services and features are offered with my new account(s)?
• Will I qualify for the account(s) that I want?
• Will I be able to understand how to use my account?
• Will I be able to reach someone at the bank easily if I have a question
or a problem?
• What are these new features all about (e.g., mobile banking)?
Are they useful?
• Can I trust my current bank?
• How do I choose the best account for my needs?
• Does the bank offer the services and technology I need?
• What does the fine print mean?
• Will it be easy to add a new account?
• Can I find a bank that doesn’t charge as many fees?
• Will I be able to talk to a real person?
• Will I have problems logging in to my account online or
on my mobile device?
• Is my bank looking out for my best interests?
• How close are the nearest branches and ATMs?
• Are my banking activities and identity secure?
• Will other banks move faster (e.g., refinancing)?
• How do fees and rates compare to other banks?
• Will the branch representatives take care of all the paperwork?
• Will all of my bank accounts transition smoothly?
• Can I easily access my accounts wherever and whenever I need to?
• Is there a branch nearby where I can talk to someone about adding
an account?
• How big is the bank’s presence (local, national, international)?
Acquisition
• Are there any benefits to switching the account(s) that I have with
the bank?
• How difficult and painful will it be to switch banks?
• Does this bank take an interest in my community?
• What should I expect when my account is taken over by the bank?
• How helpful and knowledgeable are the bank employees?
• Will I be able to continue working with my advisor from my old bank?
• Will the bank help me grow and progress financially?
• What will happen to the employees at my local branch?
Comfortable — I’ve done my research
Happy — the reps are here to help me open an account
Empowered to build our home knowing that the bank was backing us
Valued — when I am recognized in the branch
Happy — the bank does a lot of great things for the local community
Thankful — the bank was willing to lend me money
Special — as if my transaction were the only thing happening in the branch
Informed — the site is very comprehensive and explained all of the benefits
that come with the account
Secure — I am alerted when changes are made to my online account
Confident — my friends/family have recommended the bank
Excited to open my first account
Acquisition
Respected — branch representatives sat down with me and explained options
and services
Indifferent
FEELING
Convinced — switching will deliver a better experience than my current bank
Welcomed during the takeover
Comfortable — the bank knows what is going on and I can ask for help
• Will the bank monitor my account(s) and let me know when I should consider
a change?
• Are there banks with better interest rates?
• Is another bank’s promotion worth switching for?
• Can I find a knowledgeable financial team to work for me?
• Are there any loyalty benefits for sticking with the bank?
• Can I live with the frustrations that I have with my bank’s technology?
Comfortable — bank employees don’t make me feel stupid or behind the
times when I ask questions about new technology
Comfortable — I can reach someone at the branch or by phone if I have
a problem with my account
Valued — when a teller or other employee suggests an option that will
earn more interest or have lower fees
Intrigued by higher interest rates for checking accounts at other banks
Interested in cash offers to open an account elsewhere
Fortunate — the bank is looking out for my best interests
Respected — the bank doesn’t push accounts/services that I don’t want
Relieved and happy — it isn’t a fight to get a problem solved
Pleased — I have met all of the requirements to receive my promotional
offer for opening an account
Confident — my questions will be answered by friendly bank personnel
Pleased — my bank supports my community
Lucky — I had a smooth transition to the bank. Others did not
Lazy — I don’t feel like jumping through all the hoops to switch my account(s)
Confused — how do offers differ from bank to bank?
Worried — will it be difficult? It’s been a long time since I changed accounts
Satisfied — my online issues have been dealt with quickly by phone reps
Easy to keep my money in the same place it has been since I was a kid
Concerned — will I be taking a step backwards, since the bank doesn’t
have a global presence?
Pleased — I wasn’t rushed and that the process was not stalled
Anonymous — I’m just a number after all the papers are signed
OK — as long as everything is handled correctly
Unsure about some services like mobile banking and overdraft protection
and whether they will benefit me
Glad to have it done — one more thing crossed off my to-do list
Acquisition
Indifferent — my bank is just a place to make payments; I’m a number
Anonymous — the promotions I receive are generic
Unappreciated — no one has contacted me or helped me learn how to
maximize my banking relationship
Acquisition
Confused — I didn’t feel like everything was as clear as it could be
Indifferent — I don’t really feel like I have a relationship with the bank
Impatient — our mortgage refinancing is taking forever
Indifferent — I didn’t actually choose the bank
Ignored — no communication from the bank since my accounts were
transitioned
Unimportant — they haven’t taken the opportunity or time to approach
me and find out what they can do for me
Dissatisfied — I feel disconnected; I’d like a better relationship
Disappointed — the bank has not analyzed my patterns and reviewed
changes that could benefit me. I’m left to do this work on my own
Angry — my bank made a mistake with my bank account
Uninformed — I don’t receive information about promotions or products
Annoyed by the constant promotional mailings that I receive from the bank
Embarrassed — a customer service representative made me feel dumb,
instead of trying to help
Impatient — tellers at the bank try to upsell me when I’m in a hurry —
I’m there for a specific reason
Deceived — the bank’s financial practices don’t seem straightforward,
and extra fees keep getting added to my account(s)
Concerned — will I lose access to my money?
Dissatisfied
Distrustful of large banks that are sneaky and rude
Impatient — waited a long time in a crowded, smelly waiting area
Insecure — branch personnel were not super knowledgeable
Upset — I can’t transfer funds to a friend immediately, even though he has
a the bank account
Acquisition
Acquisition
Burdened — I had to figure out how to switch some things on my own
Unsettled — I didn’t have the tools to access my account
Unappreciated — the bank is cold, impersonal and untrustworthy
Unimportant — ATM/debit cards and new checks were not reissued when
promised
Frustrated and annoyed — many missteps and fees along the way
Foolish — I was told that my banking service would be the same and it
has not turned out that way
Frustrated — I keep getting locked out of my online banking account —
especially when the Customer Contact Center is closed!
Irritated — I’ve requested that my email address be changed multiple times
and it still hasn’t been done
Annoyed — my online account history displays only 90 days of transactions
Unfulfilled — I need a bank with an international presence
Vulnerable — I felt like my accounts had been compromised
Exasperated — when I can’t log in to my online account and the Customer
Contact Center is closed
Unappreciated — I am not rewarded for my loyalty. Why do new customers
get all the perks?
OPPORTUNITIES
Irked — it’s hard to get in touch with my advisor
• Create personal connections with prospective customers
• Create flexible and customizable account options
• Follow up on all new customers with personalized communications
• Form a relationship with each customer
• Work for each customer’s financial well-being
• Provide prompt, expeditious responses to customer concerns
• Make it easy to understand and differentiate between account options
• Make account opening simple and straightforward
• Identify and honor customer communication preferences
• Be available to customers
• Make it easy to grow the relationship
• Follow up personally on all account errors
• Share stories from advocates
• Provide customer support at each step of the process
• Provide educational tools
• Encourage and reward loyalty
• Provide customized messaging and promotions online
• Match competitor offers
• Welcome and guide acquired customers through conversion
• Assign acquired customers to a bank counselor
UATE
D EVAL
IDER AN
PURCHASE
Customer feelings: positive, indifferent and dissatisfied
CONS
ADVOCATE
Opportunities for improvement
Sources: eMarketer “US Time Spent on Mobile to Overtake Desktop,” August 2013; Retail Systems Research (RSR) “Retailing: Omni-Channel Approach
Central to Strategies in 2013,” August 2013.
1
Page 5
Journey to a Customer Experience Map
How to develop a customer experience map
1. Inventory all triggers, touchpoints and channels
Begin by listing all of your current customer touchpoints by channel under
each customer life cycle stage. This important exercise will show the gaps in
your touchpoint inventory, and you’ll immediately be able to see where the
opportunities are.
TRIGGERS, TOUCHPOINTS AND CHANNELS INVENTORY
STAGE
Consideration
Account Opening
Onboarding
Day-to-Day Acct. Mngmt.
Expanding Relationship
Ending Relationship
• This is the first listing
• This is the first listing
• This is the first listing
• This is the first listing
• This is the first listing
• This is the first listing
• Second listing is here
• Second listing is here
• Second listing is here
• Second listing is here
• Second listing is here
• Listing number three comes next
• Listing number three comes next
• Listing number three comes next
• Listing number three comes next
• Listing number three comes next
CHANNELS
Mail
• A fourth listing goes here
• A fourth listing goes here
• Number five is another listing
• This is the first listing
• This is the first listing
• This is the first listing
• This is the first listing
• Second listing is here
• Second listing is here
• Second listing is here
• Second listing is here
• Listing number three comes next
• Listing number three comes next
Email
• A fourth listing goes here
• This is the first listing
• This is the first listing
• This is the first listing
• This is the first listing
• Second listing is here
• Second listing is here
• Second listing is here
• Second listing is here
• Listing number three comes next
• Listing number three comes next
• This is the first listing
• A fourth listing goes here
Web
• This is the first listing
• This is the first listing
• Second listing is here
• Second listing is here
• Listing number three comes next
Social
• This is the first listing
• This is the first listing
• This is the first listing
• Second listing is here
• Second listing is here
• Second listing is here
• Listing number three comes next
Mobile
• This is the first listing
• This is the first listing
• Second listing is here
• Second listing is here
• This is the first listing
• This is the first listing
• This is the first listing
• Second listing is here
• Second listing is here
• Listing number three comes next
• A fourth listing goes here
Branch
• This is the first listing
• This is the first listing
• This is the first listing
• Second listing is here
• Second listing is here
• Second listing is here
• Listing number three comes next
Out of Home
• A fourth listing goes here
Ongoing nonlinear
Time-based nonlinear
Linear
2. Conduct customer research
Once you’ve completed your inventory, you are ready to start doing some
qualitative research. Of course you can pull comments from social media or
ongoing research, but it is also very important to set up direct qualitative
research to create your customer experience map.
Page 6
Journey to a Customer Experience Map
AS YOU PL AN YOUR RESEARCH, YOU’LL NEED TO:
• Identify customer segments to recruit
• Develop a discussion guide that will encourage people to tell a story about
what they are doing, thinking and feeling
• Decide what to pay participants
• Prepare questions that will help you probe for clarification and examples
SOME OF WHAT WE
HEARD DURING A RECENT
ENGAGEMENT WITH A
FINANCIAL INSTITUTION:
“Special deals are sometimes
put out there to attract new
customers. I want my bank
to make special offers to
me ... to show they value
my continued relationship
with the bank.”
There are a variety of ways to gather qualitative research from customers.
You can observe and interview customers on site, conduct online surveys, run
traditional focus groups or use online focus groups.
We recommend using online bulletin boards. Essentially, these are online focus
groups. They have several advantages over traditional focus groups:
• Individuals are not influenced by what others say
• Because they’re more anonymous, people will often express more
honest opinions
• No one person can dominate the conversation
• They are more convenient. Individuals aren’t required to travel or invest
an evening
—Linda C.
SAMPLE ONLINE BULLETIN BOARD
“Talk to me to find out which
accounts work best for me
now ... everyone wants to
feel important, no matter
how much money they
have. But also, they want to
be understood and valued
as a customer.”
—Jessica F.
“I want to feel like they
already know me. Not by
a number.”
—Bill M.
Page 7
Journey to a Customer Experience Map
3. Hold customer experience workshops
Customer experience
workshops are
conducted with your
internal stakeholders.
Customer experience workshops
are conducted with your internal
stakeholders—the people who can
impact the final customer experience.
When stakeholders read customers’
comments and feelings firsthand, they
develop empathy and are more likely
to act on and resolve customer
experience problems.
During the workshops, we:
• Read all the comments customers
made on the online bulletin boards
• Create a sticky note for each
comment—each color indicates a
specific research segment
• Group similar comments into themes:
disappointment, frustration, surprise,
communications timing, etc.
• Look for emerging patterns
4. Develop an initial model of customer feelings
We focus on feelings to identify highs and lows in the customer experience
throughout the life cycle. The three lines in the model below represent optimal,
average and poor customer experiences.
Page 8
Journey to a Customer Experience Map
5. Do a complete analysis of your customer research
This analysis pulls all your research together to show you what your customers
are thinking, feeling and doing at each stage of their journey with you.
The return from
personalized
communications
is incredibly
valuable—to
both customers
and the bank.
For example, our research found that it doesn’t require face-to-face interactions
to improve the customer experience. Customers were eager to receive
communications from their bank, including email, direct mail and well-timed
text messages. They wanted to feel like the bank was a partner looking out for
their financial well-being.
In some cases, that meant suggesting a new financial vehicle, such as a HELOC.
In other cases, it meant showing the customer the advantages of switching to
a different checking or savings vehicle. Executing these types of personalized
communications requires data and analytics, which could help you determine
who to communicate with and when. The return is incredibly valuable—to both
customers and the bank.
Banking Customer Experi
Consideration
Account Openi
• Identify the need for a new financial account
• Choose a financial institu
• Assess financial institutions and account types available
• Open account(s)
• Receive confirmation an
View advertisements
Doing
CUSTOMER JOURNEY
Steps
Let’s look at an example showing what customers are doing,
thinking and feeling at the consideration stage:
Call a representative
Visit website
Apply onl
Visit branch
Speak wit
represent
Call representative
Receive
paperwork
View mail promotion
Check rates online
Visit branch
Page 9
ING
Talk with friends
• Who do my friends and family bank with?
• Will it be difficult to open
• How do I choose the best account for my needs?
• Will I qualify for the acco
• Does the bank offer the services and technology I need?
• What does the fine print
• How close are the nearest branches and ATMs?
• Will I be able to talk to a
Banking Customer Experi
Journey to a Customer Experience Map
Visit branch
Doing
Positive
CUSTOMER JOURNEY
THINKING
Steps
Talk with friends
Call representative
Consideration
Account Openi
•
•
•
•
•
•
Who do my friends and family bank with?
Identify
need for
newaccount
financialforaccount
How do the
I choose
theabest
my needs?
Assess
institutions
and account
types available
Does thefinancial
bank offer
the services
and technology
I need?
• Receive
confirmation
Will I be able
to talk toan
a
• How do fees and rates compare to other banks?
• Will the branch represen
• How big is the bank’s presence (local, national, international)?
Acquisition
advertisements
• View
Does
this bank take an interest in my community?
• What should I expect wh
Call a representative
• How helpful and knowledgeable are the bank employees?
• Will the bank help me grow and progress financially?
Indifferent
Positive
Dissatisfied
FEELING
THINKING
Page 10
Indifferent
FEELING
OPPORTUNITIES
• W
hich channel or
touchpoint?
• What will happen to the
Apply on
Comfortable — I’ve done my research
Happy — the reps are her
Happy — the bank does
a lotpromotion
of great things for the local community
View mail
Thankful — the bank was
Confident — my friends/family have recommended the
bank
Check
rates online
Special — as if my transa
Visit branch
Excited to open my first account
Acquisition
Respected — branch representatives sat down with me and explained options
and services
Talk with friends
• Which customer
segments?
• Will I be able to continue
Visit website
Convinced — switching will deliver a better experience than my current bank
Gaps can pinpoint
opportunities for
improvement in each
stage of the customer
life cycle:
Will it be difficult to open
Choose
a financial
Will I qualify
for theinstit
acco
Open
account(s)
What does
the fine print
• How close are the nearest branches and ATMs?
Visit branch
GAPS LEAD TO
OPPORTUNITIES
Receive
paperwor
Speak wit
represent
Welcomed during the take
Comfortable — the bank
Call representative
Receive
paperwor
Confused — how do offers differ from bank to bank?
Worried — will it be difficu
Concerned — will I be taking a step backwards, since the bank doesn’t
•have
Whoa do
my presence?
friends and family bank with?
global
• How do fees and rates compare to other banks?
Pleased — I wasn’t rushe
•Glad
Willto
it be
difficult
to open
have
it done
—o
• Will I qualify for the acco
Acquisition
• What does the fine print
Indifferent — I didn’t actu
• Will I be able to talk to a
Concerned — will I lose a
• Will the branch represen
• How big is the bank’s presence (local, national, international)?
large
banks
that areinsneaky
and rude
•Distrustful
Does this of
bank
take
an interest
my community?
Acquisition
— waited
a long
•Impatient
What should
I expect
wh
• How helpful and knowledgeable are the bank employees?
branch
perso
•Insecure
Will I be—
able
to continue
•Acquisition
What will happen to the
• How do I choose the best account for my needs?
• Does the bank offer the services and technology I need?
• How close are the nearest branches and ATMs?
• Will the bank help me grow and progress financially?
Burdened — I had to figur
Happy — the bank does a lot of great things for the local community
Unappreciated — the ban
Happy — the reps are her
Frustrated and annoyed
Thankful — the bank was
Confident — my friends/family have recommended the bank
Special — as if my transa
Excited to open my first account
Acquisition
Respected — branch representatives sat down with me and explained options
and
services
• Create
personal connections with prospective customers
Welcomed during the take
• Create flexible
andbank
custo
Comfortable
— the
Comfortable — I’ve done my research
Convinced
— switching
will deliver
a better experience
than my options
current bank
• Make it easy
to understand
and differentiate
between account
• Make account opening s
• Share stories from advocates
• Provide customer suppo
Confused — how do offers differ from bank to bank?
• Welcome and guide acq
Worried — will it be difficu
Concerned — will I be taking a step backwards, since the bank doesn’t
have a global presence?
Pleased — I wasn’t rushe
Glad to have it done — o
Acquisition
IDER
CONS
TE
VALUA
AND E
Indifferent — I didn’t actu
PURCHASE
Concerned — will I lose a
CUSTOMER JOURN
Banking Customer Experience
Ma
The path to purchase a
Banking Customer Experience
Map
The path to purchase
and
Doing
Journey to a Customer Experience Map
Day-to-Day
Management
•Consideration
Identify the need forAccount
a new financial
account
Banking Customer Experience Map
Steps Steps
Set• up
deposit
Setdirect
up online
or mobile banking services
Order
• Setchecks
up direct deposit
• OrderATM/debit/credit
checks
Receive
card
Banking Customer Experience Map
CUSTOMER
JOURNEY
CUSTOMER
JOURNEY
THINKING
View advertisements
Call a representative
Visit website
Check rates online
Visit branch
• Deposit money
• Pay bills and features are offered with my new account(s)?
What
services
• How
do I choose
best account
my needs?
• What
services
andthefeatures
areforoffered
with my new account(s)?
• Does the
offer the services
and
I need?
Will
I
be
to bank
understand
howhow
to technology
use
mymy
account?
• Will Iable
be able
to understand
to use
account?
• How close are the nearest branches and ATMs?
Will
have
problems
logging in toinmy
account
online
or or
• IWill
have
to my
account
online
• I How
do problems
fees and rateslogging
compare to other
banks?
on my
device?
on mobile
my
mobile
device?
• How
big is the
bank’s presence (local, national, international)?
Pay bills
money
•Deposit
Does
takeaccounts
an interest
intransition
my community?
Will
my
bank
accounts
transition
smoothly?
• all
Willof
all
of this
mybank
bank
smoothly?
• How helpful and knowledgeable are the bank employees?
• Will the bank help me grow and progress financially?
Visit
website
• Will
I be
Viewgrow
mail promotion
• Will the bank help me
and progress financially?
Consideration
Check rates online
Visit branch
opening documents
Download
mobile app
Visit branch
Withdraw money
Confident —
my friends/family
have recommended
theSend
bank
Sign up
Receive account
Fill out
Receive
direct
Withdraw
money
application
opening documents
Excited to open myTalk
firstwith
account
friends
materials
in the mail
Visit branch
deposit info
for online
banking
Log in
Respected — branch representatives sat down with me and explained options
Expanding Relationship
Visit branch
Receive
statements Talk
and with
alertsfriends
and
services
advertisements
Visit branchReceive View
Receive
statements
and alerts Receive account
Call representative
Fax/email signed
Ending Relationship
Call a representative
opening
documents
to bank will
Transfer
money and
check
balances
Convincedpaperwork
— switching
deliver
a better
experience
than
my
current
bank
• Identify
theand
stepscheck
necessary
to move financial assets
Transfer
money
balances
paperwork to sign
Deposit
Speakmoney
with a
representative
Fill out
application
—athe
reps
are
here
to and
helpaccount
me opentype(s)
an account
Learn
about
new
services
• Happy
Choose
financial
institution
View cross-sell
promotions
new services
Speak
with
a
outmoney
Visit
branchLearn
— about
the bank
was
willing
to lendFill
me
View cross-sell
promotions
representative
application
• Thankful
Open account(s)
— I’ve
research
Check rates online
• Comfortable
Identify the need
fordone
a newmyfinancial
account
the bankinstitutions
does a lotand
of great
things
for the
local community
• Happy
Assess—financial
account
types
available
Speak with a
representative
• Close account with financial institution
• Who do my friends and family bank with?
Pay bills
Receive
accou
Add
acco
opening
docum
Add
account
Receive account
opening documents
as if my transaction
werenumbers
the only thing happening in the branch
• Special
Receive—confirmation
and account
Acquisition
Withdraw money
Receive
Call representative
Receive accou
Fax/email signed
opening docu
paperwork
to bank
Research products/services
Research products/services
Receive
Receive
account
Fax/email
signed
Comfortable
—
the
bank
knows
what
is
going
on
and
I
can
ask
for
help
Visit branchpaperwork
Call a rep
Receive to
statements
sign and alertspaperwork to bank
opening documents
Welcomed during the paperwork
takeover to sign
Call representative
• Monitor financial health
• Identify the need for new financial services
opening documents
Account Opening
Receive
account
View mail
promotion
Apply online
Receive
account
Apply online
able to continue
working with my advisor from my old
bank?
• What will happen to the employees at my local branch?
Transfer money and check balances
• Will it be difficult to open a new account?
• Learn about products or services available
• Will I be able to reach someone at the bank easily if I have a question
• What services and features are offered with my new account(s)?
• Will it be difficult to open a new account?
Will
I are
qualify
foropen
the
I want? mobile banking)?
HowI do
do my
I choose
the best
account
for my
needs?
• Add or change account
•• What
these
new
features
allthat
about
••••products/services
Will
able
to
someone
at the
the
bank
easily
havea aquestion
question
or
a account(s)
problem?
Receive account
Apply
online
website
•Worried
it be
to
a new
account?
Who
friends
family
with?
• Will
I be able
to understand
how to use my account?Visit
• Will I qualify for the account(s)
• Will
What
are
these
new
features
about
(e.g.,(e.g.,
mobile
banking)?
Will that
Ibe
beI want?
able
to reach
reach
someone
at
bank
easily
ififI Ihave
—difficult
will
it be
difficult?
It’sallbeen
a long
time
since
I changed
Confused
— how
do and
offers
differbank
from
bank
to
bank?
openingaccounts
documents
Are
they
useful?
or
a
problem?
•fine
Is myprint
bank mean?
looking out for my best interests?
• What
does
the
Does
theI choose
bank offer
the services
and
technology
I need?
• Will I have
problems logging in to my account online or• Will
• What does the fine print
mean?
Are
they
useful?
or a problem?
I
qualify
for
the
account(s)
that
I
want?
••Concerned
How
do
the
best
account
for
my
needs?
Pleased
—
I
wasn’t
rushed
and
that
the
process
was
not
stalled
—
will
I
be
taking
a
step
backwards,
since
the
bank
doesn’t
•
Are
my
banking
activities
and
identity
secure?
on
my
mobile
device?
Evaluate
financial
situation
• Will I be able to talk to a real person?
But after customers entered the day-to-day account management phase of their
•• Will
itI be
easy
to talk
add
a anew
account?
bank
looking
out
for
my
best interests?
interests?
Will
be
able
to
toeasily
real
person?
How
are
the nearest
branches
and ATMs?
banking•••have
relationship,
there
a accounts
shift.
Those
aaccounts
branch
• What
Will
itprimarily
be
easy
to
avisited
new
account?
• Is
Ismy
my
bank
looking
out
my
best
a close
global
presence?
•Glad
fineadd
Does
the
bank
offer
the for
services
andoften
technology
•print
Can
Imean?
access
my
wherever
whenever
• Willwas
allI ofneed?
my bank
transition
smoothly? who
• Will the branch representatives take care of all the paperwork?
todoes
havethe
it done
—
one
more
thing
crossed
off myandto-do
list I need to?
View mail promotion
•• there
IsWill
there
abranch
branch
nearby
where
can
talk
to
about
adding
••• Are
my
banking
activities
and identity
identity
secure?
•
Is
a
branch
nearby
where
I canItake
talk care
to someone
adding
Are
my
banking
activities
and
secure?
the
representatives
of someone
all theabout
paperwork?
How
do
fees
and
rates
compare
to
other
banks?
• Will Ipositive
be able to talk to
a real person?
• How
are the nearest
branches
ATMs? tended to have more
Acquisition
or talked
toclose
a person
on
the and
phone
feelings.
These
Acquisition
The
path
totakepurchase
and
account?
an an
account?
Check rates
online
easily
access
my
accounts
wherever
andwhenever
whenever
I need
to?
• What should I expect•when
my Iaccount
taken
over
by presence
the
bank? to
Can
Ibig
easily
access
my
accounts
wherever
and
I need
to?
How
isisthe
bank’s
(local,
international)?
•
Will
the
branch
representatives
care
of
all
the
paperwork?
••• Can
How
do
fees
and
rates
compare
othernational,
banks?
Acquisition
Speak
with athe
Fill the
out account(s) thatReceive
Visit
Indifferent
—
I any
didn’t
actually
the
bank
were
more
to open additional accounts
because
of
human
• Are
there
benefits
tochoose
switching
I have
with
• Willcustomers
I be able to continue working
with my advisor
from my oldlikely
bank?
• branch
Are
there
any
benefits
to switching
the
account(s)
that I have
withaccount
representative
opening
documents
application
Doesbig
thisis bank
take an
interest(local,
in mynational,
community?
• How
the bank’s
presence
international)?
• the
What
should
I expect when my account is taken over by the bank?
Acquisition
• What will happen to the employees at my local branch?
bank?
the
bank?
Concerned
— will I lose access to my money?
interaction.
They
had
hadinan
optimal
experience:
• Does
How helpful
andtake
knowledgeable
are
the
bank employees?
this
bank
an interest
my community?
• Will
I be able
to continue
my advisor
my old bank?
• What
should
I expect
when myworking
accountwith
is taken
over byfrom
the bank?
Doing
Indifferent
Talk with friends
Call a rep
Call a rep
CUSTOMER JOURNEY
FEELING
THINKING
THINKING
Visit branch
CONSIDER ATION
• Withdraw money
• TOUCHPOINTS
Check balances
• Who do my friends and family bank with?
• Deposit
How helpful
Pay bills
money and knowledgeable are the bank employees?
The path to purchase and beyond
Log in
Log in
Day-to-Day Account Management
Pay bills
Deposit money
Download
mobile app
Download
mobile app
Steps Doing
Doing
Positive
Steps
• What
the fine
print products/services
mean? Account Management
Add ordoes
change
account
Day-to-Day
Viewand
advertisements
• Choose a financial institution
account type(s)
• Assess financial institutions and account types available
Doing
Call a representative
• Willtoward
I be able to talk
to a realbank
person? during
• How
close are
the nearest branches
and ATMs? had positive feelings
We found
that
customers
typically
their
Evaluate financial situation
• Deposit money
• Set up online or mobile
services
Callbanking
a representative
• Will the branch representatives
take care of all the paperwork?
• How do fees and rates compare to other banks?
Evaluate
financial situationwho
the
consideration
and
account
opening
phases—especially
those
customers
• Withdraw money
• Open account(s)
• Set up direct deposit
•
How
big
is
the
bank’s
presence
(local,
national,
international)?
Acquisition
Receive accou
Apply
online
Visit
website
• Check balances
• Receive confirmation and account numbers
• Order checks
had done
their own research and
made an informed choice:
opening docum
• Pay
bills my account is taken over by the bank?
• Receive ATM/debit/credit card
• Does this bank take an interest in my community?
• What should I expect
when
• Identify the need for a new financial account
CUSTOMER JOURNEY
Receive account
opening documents
• Learn
products
or services
available
• Addabout
or change
account
products/services
Check
• • Pay
billsbalances
• View
Does
the bank offer the services and technology
I need?
Payadvertisements
bills
Account Opening
Onboarding
• Receive
ATM/debit/credit card
Consideration
THINKING
Receive account
opening documents
Fill out
application
Assessprinciples
financial institutions
and account
types available
Open account(s)
•• Monitor
financial
•• Deposit
money
uiding
will
emerge
as you begin to understand
thehealth
customer
• Identify
Receive
confirmation
andand
account
numbers
•
Identify
the
need
for
a
new
financial
account
•
Choose
a
financial
institution
account
type(s)
•
the
need
for
new
financial
•
Withdraw
money
•
Monitor
financial
health
•
Deposit
money
journey. Use your guiding principles as a Litmus test for the success
ofservices
Assess
financial
institutions
andbank
account
•• Open
Will
it account(s)
bethe
difficult
toforopen
account?
Who
dobalances
mymoney
friends
and family
with?types available
• Learn
about
ornew
services
available
••• Check
Identify
needproducts
newafinancial
services
Withdraw
organizational
initiatives now and in the future.
•• Receive
confirmation
and account
Will I qualify
for the account(s)
thatnumbers
I want?
• How do I choose the best account for my needs?
Set up online or mobile banking services
ownload
obile app
Speak with a
representative
Account Opening
Expanding Relationship
Receive
Call
representative Opening
Fax/email signed
Account
Expanding
Relationship
• Choose a financial
institution
account type(s)
paperwork
to sign and paperwork
to bank
Talk with friends
Sign up
eceive
Send direct
for online
materials
deposit
info
Sign up
Receive
Send
direct
View mail promotion
n thematerials
mail
for online
deposit info banking
banking
in the mail
Visit branch
Receive account
opening documents
Check rates online
Visit branch
G
Apply online
View mail promotion
Consideration
Guiding
principles
Day-to-Day Account Management
Onboarding
Onboarding
Visit website
Add account
• Will
bank
monitor
account(s)
letknow
me know
I should
con
• Will
thethe
bank
monitor
my my
account(s)
and and
let me
whenwhen
I should
consider
bank?
money
—
I amin
alerted
when changes
are made
to my area
online account
Informed
all of the benefits
Thankful — the bank was
willing to lend of
melarge
money banks that are sneaky and
Happy — the bank does a lot of great things for the localWithdraw
community
rude — the site is very comprehensive and explained•Impatient
waitedtoaSecure
longemployees
time
a crowded,
smelly
waiting
•Distrustful
Will the bank
help
grow
and progress financially?
Talkme
with
friends
What will—happen
the
atFax/email
my local
branch?
that come with the account
Receive
Call representative
Comfortable — I can reach
someonesigned
at the branch or Receive
by phone account
if I have
Special — as if my transaction
were the only thing happening
in the branchManagement
Confident — my friends/family have recommended the bank
Onboarding
Day-to-Day
Account
Expanding
Relationship
Insecure
— branch
personnel
were
notpaperwork
super knowledgeable
paperwork
to with
sign
opening documents
to bank
a
problem
my
account
Comfortable
—
bank
employees
don’t
make
me
feel
stupid
or
behind
the
Excited to open my first account
Research products/services
Acquisition
times when I ask questions about new technology
sit branch
Happy
—
the
reps
are
here
to
help
me
open
an
account
Comfortable
—
I’ve
done
my
research
Receive statements and alerts
Relieved
and
happy
—
it
isn’t
a
fight
to
get
a
problem
solved
Respected — branch representatives sat down with me and explained options
Acquisition
Welcomed during the takeover
Pleased — I have met all of the requirements to receive my promotional
Transfer money and check balances
Confident
myemployee
questions
willsuggests
be
answered
friendly bank
personnel
and services
Happy
—
reps
are
here
to—help
me
open
anme
account
Comfortable
—
I’ve
done
Valued
—the
when
a teller
orwas
other
anby option
thatown
will
Valuedwhat
—iswhen
when
am
recognized
in
branch
Empowered
to build
our
home
knowing
bank
was
backingusus
Comfortable — the bank
going
on
and
Irecognized
can ask
forresearch
helpgreat
Thankful
the
willing
lend
money
Happy
the
bank
does
amylot
of
forforthe
local
community
offer
opening
an account
Valued
—
when
teller
or
other
employee
suggests
anonoption
that will
Valued
—
II am
in the
thethings
branch
Empowered
to build
our
home
knowing
thatthat
thethe
bank
was
backing
——
I had
toabank
figure
out
totoswitch
some
things
my
•Burdened
Monitor
financial
health
• knows
Deposit
money
• Set Convinced
up online
mobile
services
Pleased
—
my how
bank supports
my community
—or
switching
willbanking
deliver a better
experience than my current bank
earn
more
interest
or
have
lower
fees
Lucky
—
I
had
a
smooth
transition
to
the
bank.
Others
did
not
Thankful
—
the
bank
was
willing
to
lend
me
money
Happy
—
the
bank
does
a
lot
of
great
things
for
the
local
community
earn
more
interest
or
have
lower
fees
Secure
—
I
am
alerted
when
changes
are
made
to
my
online
account
Informed
—
the
site
is
very
comprehensive
and
explained
all
of
the
benefits
TO
DAY
Special
—need
as—to
ifthe
my
transaction
were
the only
thing
happening in the branc
Confident
—
my
friends/family
havewith?
recommended
theonline
bank account
Secure
—
I
am
alerted
when
changes
are
made
to
my
nformed
—
the
site
is
very
comprehensive
and
explained
all
of
the
benefits
•
Will
it
be
difficult
open
a
new
account?
•
Who
do
my
friends
and
family
bank
Unappreciated
bank
is
cold,
impersonal
and
untrustworthy
•
Identify
the
for
new
financial
services
•
Withdraw
money
• Set•DAY
up
direct
deposit
• Can I trust my current bank?
• What are these new features all about (e.g., mobile banking)?
Will I be able to reach someone at the bank easily if I have a question
Fortunate
— the
bank
is looking
out the
for my
interests
with
account
Special
— as
if—my
transaction
were
only
thing
happening
Confident
—
my
friends/family
have recommended
the
bank
Fortunate
the
bank
is looking
for best
my
best
interestsin the branch
hat that
comecome
with
the the
account
Comfortable
— IImy
can
reach
someone
phone
Are they useful?
or a problem?
Excited
open
account
• branch
Are thereor
banks
betterifinterest
rates?
—
can
reach
someone
atthe
the
branch
orbybywith
phone
ifI have
I have
••Frustrated
Will
I qualify
for
the account(s)
thatmissteps
I out
want?
•Comfortable
doto
I choose
thefirst
best
account
for at
my
needs?
Acquisition
and
annoyed
many
and fees along the way
Learn
about
products
orto—
services
available
• How
Check
balances
• Order
checks how do offers differ from bank to bank?
TOUCHPOINTS
Easydoesn’t
keep my
money
in the same place it hasthat
been Isince
I was
a kid
Satisfied — my online issues have been dealt with quickly
by phone reps — the bank
will ittobe
difficult?
It’s
been awith
long time
since
I changed accounts
Respected
push
accounts/services
don’t
want
a
problem
my
account
Comfortable
—
bank
don’t
make
me
feel
stupid
or
behind
the
•Worried
Will
it be—easy
add
aExcited
new
account?
•Confused
Is my bank—
looking
outemployees
for my best interests?
to
open
my
first
account
• Can I find a bank that doesn’t charge as many fees? Acquisition
Respected
—
the
bank
doesn’t
push
accounts/services
that
I don’t
want
a
problem
with
my
account
Comfortable
—
bank
employees
don’t
make
me
feel
stupid
or
behind
the
Respected
—
branch
representatives
sat
down
with
me
and
explained
options
•
What
does
the
fine
print
mean?
•
Does
the
bank
offer
the
services
and
technology
I
need?
Welcomed
takeover
Add
or changeduring
account
• where
Pay
• Receive
ATM/debit/credit
OKthe
— products/services
as
long as everything is handled correctly
Anonymous — I’m just a number after all the papers are•signed
I wasn’tnearby
rushed
and that
thetalk
process
was notabout
stalled
— will
I be taking
aabout
step backwards,
since the bank doesn’t
•Pleased
Is there —
a branch
Ibills
can
to someone
adding
•Concerned
Are my
activities
andcard
identity
secure?
when
Ibanking
ask
questions
new
technology
•a Will
other banks
move faster (e.g., refinancing)?
Relieved
and
happy —
—
itit isn’t
aa fight
to
get
problem
solved
imestimes
when
I ask
questions
have
a global
presence? about new technology
Respected
—
branch
representatives
sat
down
with
me
and
explained
options
and
services
an
account?
Welcomed
during
the
takeover
Relieved
and
happy
isn’t
fight
to
get
a
problem
solved
Indifferent
—
my bank is just a place to make payments; I’m a number
Glad to have it done —• one
more
thing crossed
off nearest
my to-do list
Acquisition
• Can I easily access my accounts wherever and whenever I need to?
•
Will
I
be
able
to
talk
to
a
real
person?
How
close
are
the
branches
and
ATMs?
Comfortable
—
the
bank
knows
what
is
going
on
and
I
can
ask
for
help
•
Is
another
bank’s
promotion
worth
switching
for?
Pleased — I have met all of the requirements to receive my promotional
services
Confident
my
questions
be answered
by
friendly
bank
•Acquisition
Are there any benefits and
to
switching
the —
account(s)
that I have with
Unimportant
they haven’t
takenon
the and
opportunity
time for
to approach
Pleased — I have met all of the requirements to receive my promotional
— Iand
didn’t
feelpersonnel
like
was
as clear as Comfortable
it could be
Convinced
switching
willwill
deliver
a better
experience
than
my
bank
— the
bank
knows—what
is going
I canorask
help
——my
questions
will
betoanswered
by friendly
bank
personnel
•Confused
How
difficult
painful
will everything
itcurrent
be to switch
banks?
offer for opening an account
• Will the branch
representatives
care
the paperwork?
•Confident
How do fees
and
rates compare
other
banks?
the bank?
me and find
out take
what
they
canof
doall
for me
Evaluate
financial
situation
offer for opening an account
— anoknowledgeable
communication
from the
banktosince
were
Indifferent — I didn’t actually
choose—
the—
bank
Convinced
switching
will deliver
a better experience
than my current
bank
Pleased
my
bank
supports
myconsider
community
•Ignored
Can I find
financial
team
workmy
for accounts
me?
• Will the bank monitor my
account(s)—
let me
knowsupports
when I should
bank
my(local,
community
transitioned
Lucky — I had a smooth transition to the bank. Others did not
•Pleased
How
big and
ismy
the
bank’s
presence
national,
international)?
Concerned
Acquisition
a change? — will I lose access to my money?
• Are there any loyalty benefits for sticking with the bank?
Lucky — I had a smooth transition to the bank. Others did not
• Create personal connections with prospective
customers
• Create flexible and customizable account options
• Does this bank take an interest in my community?
• Can I live with the frustrations that I have with my bank’s
• technology?
What should I expect when my account is taken over by the bank?
• Make
it easy
tosmelly
understand
and differentiate
account options
• Make
account
opening
simple— and
straightforward
Worried
will
it Dissatisfied
be difficult?
It’s
been
a long
time
since
I changed accoun
— and
how
dowaiting
offers
differ
from
tobetween
bank?
I feel
disconnected;
I’d like
a better
relationship
Distrustful of large banks that are sneaky and rude
Impatient — waited a long
time inhelpful
a crowded,
area
Upset
— I Pay
can’tbills
transfer funds to a friend immediately, even
though
has—to
•Confused
How
knowledgeable
are
thebank
bank
employees?
•
Will
I beheabout
continue
working
with
advisor
from
old bank?
Deposit
money
Worried
—able
willsome
it be
difficult?
It’s
been
amy
long
time
since
Imy
changed
accounts
Confused
—
how
do
offers
differ
from
bank
to
bank?
Unsure
services
like
mobile
banking
and
protection
Easy
towho
keep
myknowledgeable
money
in the online
same place itor
been
since
I wasmobile
a kid
Satisfied — my online issues have been dealt with quickly by phoneInsecure
reps
ahas
the bank
account
•Concerned
Share
stories
from
advocates
•
Provide
customer
support
at
each
step
oflocked
the
process
Frustrated
—
I
keep
getting
out
of myoverdraft
online not
banking
account —
— branch personnel
were
not
super
Customers
banked
via
their
device,
however,
started
Pleased
—
I
wasn’t
rushed
and
that
the
process
was
stalled
—
willmoney
Ime
beoption
taking
asame
step
backwards,
since
theinterest
bank
doesn’t
Intrigued
by higher
rates
checking accounts •at other
banks
ValuedDownload
— when a teller •Easy
or other
employee
suggests
an
will
when I amissues
recognized
in thebeen
branchdealt with quickly by phone reps
Unsure
about
some
services
like
mobile
banking
and
overdraft
protection
my
in that
the
place
it has been
since
I was
aforkid
SatisfiedValued
— my— online
have
Will to
thekeep
bank
help
grow
and
progress
financially?
What
will
happen
to
the
employees
at
my
local
branch?
especially
when
the Customer
Contactwas
Center
is closed!
and whether
they willrushed
benefitand
methat
Pleased
—
I
wasn’t
the
process
not
stalled
Concerned
—
will
I
be
taking
a
step
backwards,
since
the
bank
doesn’t
Acquisition
mobile
app or have
OK
—
as
long
as
everything
is
handled
correctly
Anonymous
—
I’m
just
a
number
after
all
the
papers
are
signed
Acquisition
earn
more
interest
lower
fees
and they
guide
acquired
customers
through
conversion
have a global presence?
Interested in cash offers to open an account elsewhere • Welcome
Secure — I am alerted when changes are made to my online account
its
and
will
benefit
me
Irritated
I’ve requested
that mycrossed
email address
changed
Gladwhether
to have
it done
——one
more
thing
offbemy
to-domultiple
list times
showing
signs
of
indifference
and
dissatisfaction
after
onboarding.
These
customers
OK
—ahow
as
long
assome
everything
isown
handled correctly
Anonymous
— I’m just a number after all the papers are signed
Unsettled
— I didn’t have the tools to access
my accountAnonymous
have
global
presence?
Burdened
—
I
had
to
figure
out
to
switch
things
on
my
—
the
promotions
I
receive
are
generic
Fortunate
—
the
bank
is
looking
out
for
my
best
interests
Glad to have it doneand
— itone
morebeen
thing
Comfortable — I can reach someone at the branch or by phone if I have
still hasn’t
donecrossed off my to-do list
Indifferent — my bank is just a place to make payments; I’m a number
Acquisition
Anonymous
— the promotions I receive are generic
Unimportant
— ATM/debit
and new checks were not reissued
when
Unappreciated
the bank
is cold,
untrustworthy
Respected
— the—bank
doesn’t
pushimpersonal
accounts/services
that
don’t a
want
a problem with my account
Indifferent
—anonymous
myand
bank
is Ijust
place
make
payments;
I’m a cards
number
Acquisition
Annoyed
—to
my
online
account
displays only
daysbank
of transactions
Acquisition
Indifferent
— I don’t
really feel
like
I have
a history
relationship
with90the
tended
to
feel
ortoopportunity
unimportant
and
were much
less
likely
open
promised or time to approach
Unimportant
they
haven’t
taken the
Acquisition
Add account
Confused
I didn’t
feel
likea fight
everything
was solved
as clear as it could be Frustrated
Happy
— the reps
are
here
to
help
me
open
an aaccount
Comfortable
——
I’ve
done
my
research
and annoyed
— many missteps
and
fees
along
the way
Relieved—and
happy —
it isn’t
to get a problem
Indifferent
—
I
don’t
really
feel
like
I have
relationship
with
the
bank
Unappreciated — I am not
rewarded
for my loyalty. Why
do new
customers
Unimportant
— what
they they
haven’t
time
to approach
Foolish —or
I was
told that
my banking service would be the same
and it
Indifferent
— new
I didn’t
actually
choose
the bank
me and find out
cantaken
do forthe
meopportunity
Confused
— I didn’t
like everything
was
as clear
as it could be
Confident
myfeel
questions
answered
bybank
friendly
bank
Learn
about
services
get
all
the
perks?
Indifferent
—
I
didn’t
actually
choose
the
bank
up the
Receive
direct will beSign
accounts:
Log
in personnel
Ignored
— no—Send
communication
from
since
my accounts were additional
ThankfulView
— the
bankpromotions
was willing to lend me money
Happy
—find
theout
bank
does
a lot
ofdo
great
things
for
localout
community
hasthe
not turned
that way
me
and
what
they
can
for
me
cross-sell
for
online
materials
Pleased
— deposit
my bank info
supports my
community
Irked
— it’saccess
hard to gettoin my
touchmoney?
with my advisor
Concerned
— will
I lose
gnored
—
no communication
from
the bank since my accounts were
Concerned
lose accesswere
to my
banking
intransitioned
the mail
Special
— as—if will
my Itransaction
themoney?
only thing happening in the branch
Confident — my friends/family have recommended the bank
Withdraw money
ransitioned
PURCHASE • Form a relationship with each customer
Excited to open my first account ATE
Acquisition
• Follow up on all new customers with personalized communications
• Create personal connections with prospective customers
• Create flexible and customizable account options
ALU Management
Lazy — I don’t feel like jumping through all the hoops to switchExpanding
my account(s)
Unsure about some services
like mobile banking and overdraft
Easy to keep my money in the same place it has been since I was a kid
Onboarding
Day-to-Day
Account
Relationship
EVprotection
D
Nbanks
Respected
—
branch
representatives
sat down
with
me
and customer
explained
options preferences
• Beaavailable
to customers
• Identify
and honor
communication
• Make it easy to understand and differentiate between account options
• Make
account
simple
A
Distrustful
of
large
banks
that
are
sneaky
and
rude
Impatient
—
time
in a crowded,
smelly
waiting
area
Welcomed
during
the
and
whether
they opening
will benefit
me and straightforward
R
E
Distrustful
of
large
that
are
sneaky
and
rude
Impatient
long long
time
in
aanalyzed
crowded,
smelly
waiting
area
Unappreciated
—
no
one
has
contacted
me
or
helped
me
learn how to — waited
OK
—
as
long
as
everything
is
handled
correctly
Disappointed
—waited
theatakeover
bank
has not
my
patterns
and
reviewed
Dissatisfied
— I feel disconnected; I’d like a better relationship
ID
S
Upset• —
I
can’t
transfer
funds
to
a
friend
immediately,
even
though
he
has
Research
products/services
N
and
services
O
• Encourage and reward loyalty
•
Provide
educational
tools
Share stories from advocates
• Provide customer
support
at each
stepare
of the
process
C
maximize my banking relationship
Anonymous
— the promotions
I receive
generic
Indifferent
—
my
bank
is
just
a
place
to
make
payments;
I’m
a
number
Comfortable
—
the
bank
knows
what
isto
going
on
and
Ion
canmyask
for help
Visit
branch
Insecure
—
branch
were
not
super
changes
that
could
benefit
me.were
I’m
left
do this
work
own
Call though
a rep
Receive statements
and disconnected;
alerts
Disappointed
—personnel
thepersonnel
bank
has
not
analyzed
myknowledgeable
patterns
and
reviewed
Dissatisfied
—
Ikeep
feel
I’d of
likemya• online
better
relationship
a the
Insecure
—
branch
not
super
knowledgeable
Upset
— Ibank
can’taccount
transfer funds to a friend immediately, even
heIndifferent
Frustrated
—
I
getting
locked
out
banking
account
—
Assign
acquired
customers
to
a
bank
counselor
• has
Welcome—and
guide
acquired
customers
through
conversion
Impatient — our
mortgage
refinancingbank
is taking forever
I don’t really
feel like I have—a relationship
bank a better experience
Convinced
switchingwith
willthedeliver
than
my current
— they haven’t taken the opportunity or time to approach
changes
benefit
I’m left about
to do this
work onormy
own
Transfer
money
and check balances
•Acquisition
Monitorthat
financial
• especially
Deposit money
Setbank
up Unimportant
online
or mobile
banking services
a the
Uninformed
— Icould
don’t health
receive me.
information
promotions
products
when
the Customer
Contact
is
closed!
Frustrated
— I keep
getting locked
outCenter
of my
online
account
—
Unfulfilled
—banking
I need a bank
with an international
presence
meaccount
and find out what they can do for me
Acquisition
Acquisition
Uninformed
I don’t
receive
about
promotions
or
products
especially
the Customer
closed!
•Burdened
Identify
the—
need
for
new
financial
services
• Irritated
Withdraw
money
SetUnsettled
up direct—
deposit
Annoyed
by
constant
promotional
mailings
thatsome
Ithings
receive
the
bank
—when
I’ve requested
that Contact
my emailCenter
addressis be
changed multiple times
Acquisition
I had
to figure
outinformation
how
to switch
things
my
own
I didn’t have the tools to access my account
Burdened
— I—
had
to figure
out how
to
switch
some
onfrom
myon
own
and
it still—
hasn’t
been donethat my email address be changed multiple times
Annoyed
by
the
constant
promotional
mailings
that
I
receive
from
the ban
Irritated
I’ve
requested
•
Learn
about
products
or
services
available
•
Check
balances
Order
checks
Impatient
—
tellers
at
the
bank
try
to
upsell
me
when
I’m
in
a
hurry
—
Unsettled
I didn’t
havefeatures
the tools
access
mymy
account
Unappreciated
—
the
bank
is
cold,
impersonal
and
untrustworthy
— and
ATM/debit
cards
newwith
checks
wereaccount(s)?
not reissued when
Unappreciated
—
the
bank
is
cold,
impersonal
and
untrustworthy
•
What
are
these
new
features
all
about
(e.g.,
mobile
banking)?
•
Will
I
be
able
to
reach
someone
at
the
bank
easily
if
I
have
a
question
•Unimportant
What—services
aretoand
offered
new
Worried
—forwill
it be difficult?
It’s been a long time since I changed accounts
Confused
—
do offers
differhistory
from bank
to bank?
and
it still
hasn’t
done
I’mImpatient
there
a—
specific
reason
— how
my been
online
account
displays
only 90 days of transactions
PURCHASE
tellers
at —
themany
bank
try tomissteps
upsell
me
I’m
in athe
hurry
Angry — my bank made a mistake with my bank account Are
Disappointed — the bank
has
analyzed my patterns and reviewed
Dissatisfied
— I feel disconnected;
I’dTE
like a better relationship
promised
•Frustrated
Add
change
account
products/services
• Annoyed
Pay
ATM/debit/credit
card
s Receive
theyoruseful?
or not
a bills
problem?
A
Unimportant
ATM/debit
cards
and
were not reissued when
and
annoyed
many
andwhen
fees
along
way—
Frustrated
annoyed
missteps
andwas
fees
along
the way
ALUhow
• Will I be—
able
to understand
tonew
usechecks
my account?
Pleased
— Iand
wasn’t
rushed
and—
that
the process
not
stalled
Concerned
—
will—
I Ibeam
a step
backwards,
since
bank
doesn’t
changes that could benefit
me. I’m left to
domy
this
work
ontaking
my
ownrewarded
D EVlocked
Ngetting
Vulnerable
—the
I feltdays
likenew
myof
accounts
had been compromised
Frustrated —
I keep
out of my online banking account —
Unappreciated
not
for
my
loyalty.
Why
do
customers
I’m
there
for
a
specific
reason
Annoyed
—
online
account
history
displays
only
90
transactions
A
R
E
Foolish
—SID
I was
toldCustomer
that my
banking
service
would be the same and
it
promised
•
Will
it
be
easy
to
add
a
new
account?
•
Is
my
bank
looking
out
for
my
best
interests?
N
Uninformed
—
I
don’t
receive
information
about
promotions
or
products
especially
when
the
Contact
Center
is
closed!
have
a
global
presence?
O
C I have problems logging in to my account online or
• Will
— a customer service representative made
me feel
get all the perks?— I am not rewarded for myEmbarrassed
Glad
todumb,
have it done — one more thing crossed off my to-do list
has not
out
thatmy
way
Unappreciated
loyalty.
Why
do new customers
instead
of trying
to help
by the constant
thatactivities
I receive from
theidentity
bank
Irritated
I’vedevice?
requested
thatbanking
my email address
be changed
Foolish
Iturned
was— told
that
service
would multiple
be thetimes
same andAnnoyed
it
• Is there a branch nearby
where
I can situation
talk to someone about adding
•promotional
Are my mailings
banking
and
secure?
on—
my
mobile
Evaluate
financial
Irked
—to it’s
hard
to get
inatouch
with my advisor
and it still hasn’t been done
get
alltrythe
perks?
Acquisition
Deceived
—
the
bank’s
financial
practices
don’t
seem
straightforward,
Impatient
—
tellers
at
the
bank
upsell
me
when
I’m
in
hurry
—
has
not
turned
out
that
way
an account?
n
• Can I easily access my accounts whereverand
and
whenever
I need
to?to my account(s)
• WillAnnoyed
all of my
bank
transition
smoothly?
extra
fees keep getting
added
I’m there for a specific reason
— my
onlineaccounts
account history
displays only
90 days of transactions
Irked — it’s hard to get in touch with my advisor
Indifferent
I didn’t
actually
choose the
• Are
there—any
benefits
to switching
the bank
account(s) that I have with
Exasperated — when I can’t log in to my online account and
the Customer
Unappreciated — I am not rewarded for my loyalty. Why do new customers
Contact Center is closed
get all the perks?
the bank?
Concerned
— willand
I lose
access
to my
money?
••• Create
personal
connections
with
prospective
customers
•• Create
flexible
customizable
account
options
Form
a
relationship
with
each
customer
Work
for
each
customer’s
financial
well-being
• Follow
up
on
all
new
customers
with
personalized
communications
Create
personal
connections
with
prospective
customers
•
Create
flexible
and
customizable
account
options
Irked — it’s hard to get in touch with my advisor
Pay bills
Deposit money
Will the
bank monitor
my
account(s)
and let me know when I should consider
Make
easy
and
differentiate
account
options
••• Make
account
simple
and straightforward
Be available
customers
Make
it easy
toopening
grow
the
relationship
• Identify
customer communication
preferences
Make
easytotounderstand
understand
and
differentiatebetween
between
account
options
Make
account
opening
simple
and well-being
straightforward
•••• Form
aititrelationship
with each
customer
•a•change?
Work
for
each
customer’s
financial
Follow
up onand
all honor
new customers
with personalized
communications Download
mobile app
• Share
stories
from
advocates
•• Provide
customer
support
at each
step
of
thesmelly
Encourage
and
reward
loyalty
Provide
customized
messaging
promotions
online
• Provide
tools
• and
Formeducational
a relationship
with
eachcommunication
customer
• Work for each customer’s
financial
well-being
• Provide
Distrustful
of large
banks
that
are sneaky and
rude prompt, expeditious responses to customer concerns
Impatient
—
long
time
inataand
crowded,
waiting
Share
stories
advocates
Provide
customer
support
each
step
ofprocess
the
processarea
••• Be
available
tofrom
customers
•• Make
it waited
easy
toa grow
the relationship
Identify
honor
customer
preferences
Page
11
•
Be
available
to
customers
•
Make
it easy to grow the relationship
• Follow up personally on all account errors
• Welcome
and
guide
acquired
customers
through
conversion
•
Assign
acquired
customers
to
a
bank
counselor
Insecure
—
branch
personnel
were
not
super
knowledgeable
•
Welcome
and
guide
acquired
customers
through
conversion
• Encourage
and reward
loyalty
• Provide customized messaging and promotions online
Provide• educational
toolsloyalty
Encourage and reward
• Provide customized messaging
and promotions
online
• Match competitor offers
Learn about new services
Receive account closing paperwork
Visit branch Initiate account
cross-sell
promotions
closing to build our home knowing that the bank was
• How
helpful
knowledgeable
the bank
employees?
Will
the
me grow andare
progress
financially?
Valued
—
when
I am
recognized
in thelocal
branch
Empowered
us able
HappyView
— the
reps are
here
to help
mebank
openand
anhelp
account
a• change?
aWhat
• backing
Will
I change?
be
continue
working
with
myatadvisor
from
my old
will to
happen
to the
employees
my
branch?
Positive
Positive
Dissatisfied
IndifferentDissatisfied
Dissatisfied
FEELING
sfied
PPORTUNITIES
PPORTUNITIES
Assign acquired customers to a bank counselor
The path to purchase a
Positive
Indifferent
Indifferent
FEELING
FEELING
THINKING
OPPORTUNITIES
Indifferent
OPPORTUNITIES
Dissatisfied
FEELING
Positive
Comfortable — I’ve done my research
Acquisition
Add acco
Journey to a Customer Experience Map
Key takeaways
1. A customer experience map tells you what your customers are doing,
thinking and feeling at each stage of the customer life cycle
2. The process pinpoints opportunities for improving each customer segment at
the right time and in the right channel
3. C
reate guiding principles and a road map to improve the overall
customer experience
Developing a customer experience map is an excellent first step toward improving
your customers’ overall experience and satisfaction. The research and analysis
can be completed fairly quickly, providing you with a road map for the coming
year and beyond.
ABOUT THE AUTHOR
For more than 15 years, Jill Hewitt has designed,
researched and evaluated user interfaces across a variety
of platforms, including Web, mobile, public kiosks and
hardware devices. Her approach is deeply rooted in usercentered design principles. Jill has extensive knowledge
in usability and user needs research methods, all geared
toward understanding customer needs and improving
customer experiences. She has improved customer experiences for major
Fortune 500 brands, including UPS, NPR, Turner Broadcasting, Dell and
Paychex. She is currently a customer experience specialist and designer at
Catalyst, a marketing agency headquartered in Rochester, New York.
800.836.7720 | www.catalystinc.com |
Page 12
Facebook |
Twitter |
LinkedIn
©2014 Catalyst. All rights reserved.
