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Author Archive for SoGoSurvey

How to Maximize the Power of Your Customer Data

Given that consumer data powers the ability to create personalized experiences, capturing extensive information about customers, on an ongoing basis, is increasingly important. Surprisingly, however, a 2016 Forrester study found most companies don’t regularly measure customer experience (CX) quality, citing:

The Dodd-Frank Disconnect – The Price of Regulations on Community Banks

The Dodd-Frank regulations—enacted in response to the collapse of Lehman Brothers and the other near failures of 2008 and 2009—have caused banks to be more cognizant of the risks and more careful in their lending practices, extending loans only to the most qualified customers. The largest institutions are now subject to “stress tests,” a simulation developed by the Federal Reserve…

Community Banks Forced to Re-evaluate Technology’s Role in Serving Customers

During the 2016 FDIC Community Banking Conference, Strategies for Long-Term Success, a community bank executive delivered an eye-opening report: Her own institution, with assets of less than $300 million, was exposed to 800,000 cyberattacks every month. She discussed the importance of educating the general public on best practices for online banking, stating: “People don’t leave their checkbooks or wallets laying…

Build, Measure and Engage with Loyal Customers – It’s Easy

According to Accenture’s 2016 Global Consumer Pulse Survey, 78% of consumers report they are retracting loyalty at a faster pace than three years ago. Additionally, more than half of the most loyal customers actively recommend brands to others, and 14% express their loyalty by publicly endorsing or defending the company via social media. In today’s hyper-competitive business environment, companies must…

What Really Drives Customer Churn and How You Can Avoid It

Visionary co-founder and former Apple CEO, Steve Jobs, challenged, “Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.”  Too many businesses take a reactive approach to customer service. But one of the most successful companies in the history of the world has a different priority: Push yourself to…

A Competitive Edge for Community Banks

In the mid-1990s, predicting that technology would transform banks protected by regulation and incumbency, Bill Gates declared, “Banks are dinosaurs, they can be bypassed.” Banks have avoided extinction, but in order to stay relevant, they need to innovate, harness digital disruption, and completely re-imagine their role in the customer experience. This shift in cultural mindset, especially for some of the older…

9 Surefire Ways to Demotivate Employees

Most managers don’t demotivate their employees on purpose. They act improperly without thinking about what damage they are doing to the enthusiasm and motivation of their employees. It’s not surprising: Employees don’t leave jobs—they leave managers. How’s your employee engagement today? When recognition and incentive programs are designed properly and implemented thoughtfully, they can serve as great vehicles to motivate…

Essential Tools for a More Productive Workforce

In an episode of the 1990’s iconic sitcom, “Friends”, Chandler (Matthew Perry) was in the coffee shop boasting about his new laptop, quoting specs like 500MB hard drive, 12MB of Ram, a modem that transmits at over 28,000 BPS, and built-in spreadsheet capabilities. Wow. Imagine what an “essential tool” that could be for you today! Today, terabyte drives (1,000,000 megabytes)…