It takes time and resources to design and deliver solutions that result in positive experiences and empowered customers. It requires changing interactions with customers and helping employees adopt a customer empowerment mindset. The shift in attitude starts with simple steps that are not too costly or time-consuming. Think of it as an evolving process – not a sudden transformation.
2 ways to measure value for customers:
- Test solutions on a small scale – with two branches or 30 customers, for example. Document results and customer satisfaction. Build consensus in your organization then slowly scale up.
- Look for clear results. Initially, measure satisfaction by asking customers how they experienced improved services. As prototypes or tests mature, look for obvious changes in use throughout the customer journey.
If customers feel empowered and satisfied they’re more likely to route their money through your organization and encourage friends and relatives to do the same. On the other hand, an account that’s never used or a transfer payment that goes astray can cost customers time and money they cannot afford.
Perceived value shows up as trackable changes, including:
- Number of marketing contacts that turn into customer sign-ups
- Share of spontaneous new customer referrals from agent networks
- Share of active customers in your overall client base
- Average number/value of transactions per customer
- Products adopted by customers over time
- Customer satisfaction/net promoter scores