Today’s strategic business agenda needs to center on customer experience. A core part of that is paying close attention to customer needs and resolving problems quickly – and social media can play a key role. By leveraging vast amounts of customer feedback on social networks such as Twitter and Facebook, companies can gain insight on […]
Post Tagged with: "Customer Listening"
In today’s business world with big talk about Big Data, more and more companies are looking into data science and advanced analytics to improve customer relationships, increase marketing impact, and enhance products and services. It’s an exciting new development as data science offers an unprecedented opportunity for businesses gain insights to operate more efficiently […]
Sallie Mae learns a hard lesson in the importance of data analytics. If they had been paying attention, they could have seen all their customer experience problems coming.
In August 2013, Richard Cordray, head of the CFPB, announced that the agency was turning its gaze toward student loans. So it was no surprise […]
As part of Beyond the Arc’s ongoing analysis of the Consumer Financial Protection Bureau (CFPB) customer complaint database, we’ve recapped 2013 in an upcoming report. Last year saw many leading financial institutions learn costly lessons from the CFPB, and there may be more ahead as the agency closely monitors an increasing array of key product […]
CFPB Data Analysis Update
With the expansion of the Consumer Financial Protection Bureau’s (CFPB) complaint database, companies are now able to examine consumer complaints for seven different product areas, including student loans. In the CFPB’s 2013 mid-year summary of student loans, they analyzed about 2,000 student loan complaints filed between October 2012 and March […]
Co-author: Corrine Evanoff
Social media isn’t just a tool for engaging with customers and building your brand, it can be a powerful resource to generate actionable insights. Providing a wealth of uncensored feedback about your company and your competitors, social data can help you better understand how to deliver the customer experience, products, and […]
As social media adoption among consumers continues to accelerate, 2013 saw many financial institutions expand their use of social platforms such as Facebook and Twitter. While social media provides institutions with a greater opportunity to connect wi…
Despite an increased focus on customer experience initiatives by banks of all sizes, new research has found that not all of these efforts may be resulting in revenue growth.
In fact, while some banks and credit unions are significantly outperforming peers, others aren’t focusing on efforts that customers care about most.
In a just released […]
Webinar: “Parsing and Preventing CFPB Complaints”
Date: November 12, 2013
Time: 12:00-1:00 p.m.
Register Today: http://www.americanbanker.com/webseminars/-1061966-1.html
With customer complaint data increasingly available in public sources such as social media and the Consumer Financial Protection Bureau (CFPB) database, is your company making the most of it?
The CFPB is making good use of that […]
While the use of social media is critical in today’s business landscape—for retailers, entertainment, tech companies, and other businesses—social media engagement is one of the more underrated tools used in the financial industry. A bank’s reputation is the foundation of its success, and with millions of consumers publicly voicing complaints about negative experiences with products […]