Key Takeaways
About the Authors
Consumer expectations of digital experiences have dramatically shifted.
Gone are the days when consumers measured and compared a brand’s digital experience to those of its competitors within the same space. Today, consumers are comparing brands with the very best digital experiences across completely different industries.
Digital experiences are a brand’s most valuable currency in 2021, but they fit into a larger omnichannel experience that needs to be seamless and add value to the consumer at every turn.
Brands that understand their consumer are the ones most likely to get this experience right - and ultimately grow and thrive.
Over half of all customers interact online with an FS provider at least 1x/week, with millennials report the highest engagement levels.
Beginning with deep empathy, for more than 20 years Allison has helped brands and marketers play a more collaborative role in their customer experience. With an excitement for the future matched with her natural curiosity about human nature, every solution she leads puts people first. At Appnovation, she leads a team of strategy and insights experts who know how to frame business-building opportunities that become the blueprint for valuable digital solutions.
Allison Humphries
VP Strategy, AMER
John is a business-driven technology and operations executive with 24 years of professional experience in strategic planning, design and implementation of high profile multi-national initiatives. Passionate about the power to enable clients to command technology as a strategic capability, his deep international experience spans various leadership roles in Europe and North America with a proven track record of successfully building and managing high-performance cross-functional teams.
John Mozayani
VP Technology, AMER
Offices
© Copyright 2021 Appnovation, All Rights Reserved Privacy policy · Cookie policy · Terms of use · Modern Slavery Statement · Sitemap
© Copyright 2021 Appnovation, All Rights Reserved
Now that experience has become the key differentiator for brands, Financial Service providers who choose to focus on their customers will see increased customer satisfaction, increased customer retention and will open the door for more personalized up-sell and cross-sell opportunities.
Allison Humphries, VP Strategy, AMER
The majority of customers believe there is room for improvement. Though half of all customers agree that digitization has made their daily transactions easier, only 1 in 4 rate the current experience offered as ‘excellent’.
FS providers can’t rest on their laurels.
Customers expect that digital capabilities and the experiences offered by their FS providers will continue to evolve, facilitated across multiple, connected channels.
What’s important in an FS experience varies amongst generations. While Gen Z values personalization the most, Millennials value automation and time-saving features, whereas Gen X values security more highly than any other group.
Feel-good experiences are the ultimate differentiator. More and more, customers are selecting the brands they interact with based on the experience and how that experience makes them feel, particularly younger consumers. Many features that customers love - like security and automation - are table stakes. It’s the feel-good experience, tailored to the individual, that is the ultimate differentiator.
Have questions? Get in Touch.
Top 3 Digital Trends 2021 in Healthcare, Retail & Financial
The accelerated implementation and adoption of digital capabilities was the theme of 2020 across industries. With 68% of consumers saying the pandemic has elevated their expectations of a brands’ digital abilities, businesses need to keep up the momentum, or risk obsolescence. Below are three trends we see dominating healthcare, retail, and financial.
Digital Trends 2021 Deep Dive: The Power of CX and EX Combined
Right now, brands are looking at emerging technologies and how the customer experience needs to evolve during the ongoing COVID-19 pandemic. There’s one key question Allison Humphries, VP Strategy at Appnovation, thinks they need to ask: Are you genuinely innovating to improve peoples’ lives, or are you innovating just for the sake of it?
To get CX right, you must first understand what the customer values.
Related Content
Digital Trends 2021: Data & Analytics are Key to Unlocking CX
Empathetic, human-centred approaches to digital strategy are on the rise, and customer expectations mid-pandemic have shifted radically. But one thing hasn’t changed: when it comes to understanding customer behavior, you can’t rely on what you think your customers want. Data and analytics remain crucial to ensuring you’re truly in touch with their evolving needs.
We asked consumers what factors are the most important in their interactions with Financial Services providers?
While security was the top consideration for customers, the second was the customer’s connection to the brand, taking into account how the brand makes them feel and aligns with their personal values.
Why is this important?
Many features related to digital transactions have become table stakes. All consumers expect security measures, competitive pricing and customer support. What is coming through as a differentiator is how the FS provider makes its customers feel and the experience they are able to offer. What matters is the connection people have with the brand.
Appnovation’s research measured Canadian and American Financial Services (FS) consumers’ values and expectations of brands, specifically in relation to their digital experiences with FS providers.
