How to use the Centriam Banking CX Money Map
Customer experience has positive financial impact for any business, but the composition varies significantly across industries. We wanted to provide you with guidelines specific to the banking industry on how you can uncover the financial impacts of cx.
To help you build or improve your business cases, Centriam built a single page summary — a map of sorts — which outlines thirteen different financial gains resulting from customer experience improvements. These thirteen drivers are aggregated into five categories.
- If you are early in your journey: start at the left. The lowest hanging, financially tastiest fruit in your organization is most likely under two trees: increased loyalty and cost containment.
- If you are mature: start in the middle. The benefits of employee loyalty are surprisingly large, so don’t forget to search that tree as you are looking to expand the impact of your CX program.
- If you are struggling to quantify improvements: use your data diversity. Looking at the gap between high and low performing customer groups is a great way to jumpstart your business case.