Blue Man Group is a theatrical production “best known for its creative stage productions.” The show is part drumming and part acting. The three-man cast’s objective is to connect with each audience in a unique way, as each audience is unique.
A recent interview with Isaac Eddy, former Blue Man, provides an interesting analogy for any entity that hopes to form meaningful connections.
During auditions “you enter the room as a neutral character, just trying to be…as honest as possible, just taking in the people in the room,” Eddy says. The actor’s goal is to make an impactful connection.
Improvisation is critical because “the audience itself is the fourth character of the show.”
“The Blue Man is reflecting the audience itself and the Blue Man is summoned by the audience itself…to have this single moment of connection.”
Your credit union, too, is summoned by members to meet their unique financial objectives. Research shows personalized, “customer-centric” services are increasingly important to hold your audience’s attention.
This week, consider: Do you do improv?
‘Listen more than you have ever listened and focused before.’ –Isaac Eddy
“Customer-Centricity is Mandatory for 2015,” says the Huffington Post. “…Putting your customer at the center of every strategy and business process will be essential for acquisition, retention, and competitive differentiation.”
You want a fan base, not a customer base. Create an emotional response to your brand and use feedback to improve.
Five takeaways for better customer-centricity include:
Read “15 Mind-Blowing Stats About Customer Centricity,” as outlined by cmo.com. Customer-centric companies are 60% more profitable. Capability using data is an obstacle to a customer-centric strategy—61% of CMOs admit “they have a long way to go still in using big data properly.”
Further, companies are restrained by a “lack of centralized customer ownership,” equating to 48% of marketers feeling “only moderately confident in the ability of their organizations’ core touch points to reach and engage…”
Sixty-three percent of CEOs name customer-centric outreach as a top three investment priority this year. Customer service is key: 89% of survey respondents that recently switched to a competing business did so because they received bad service.
Financial service industry providers have markedly increased customer focus lately; customer-centric jobs are up 52% in the previous year.
The Financial Brand reveals five tips to get customer-centricity right. Many companies attempt to attain customer-centricity within an existing structure instead of examining processes and changes required, often resulting in failure.
Change is hard and takes time, and ease for the company does not equate to customer satisfaction.
Suggestions to overcome such barriers include:
“What Do Customers Want? Just Everything,” says Banking Exchange. Financial providers need to stand out to consumers, and the way to do it is to focus on individuals.
This is challenging due to cost and lack of understanding of what consumers really want.
Five tactical themes for customer service include:
‘You have to learn how to react in an egoless way, that’s really crucial.’ –Isaac Eddy
“Data Enables Financial Services Firms to be More Customer-Centric,” says Forbes. Because providers want to increase sales and engagement via multiple channels, analytics are important to “get the right information at the right time to target the right client with the right products and solutions.”
Big data can get products to market quickly, identify new prospects, and improve consumer interactions. Further, data fosters deeper understanding of consumers, successful risk management, and better meeting compliance requirements.
A recent blog post summarizes findings from the annual Digital Marketing and Financial Services Summit, and presents “Seven Big Takeaways…” “It’s all about the customer service,” the author notes, and consumers will share memorable moments.
Consumers want to connect on multiple channels, and simplification to access services will yield success. Mobile grows in importance; providers who do not incorporate it risk their company, product, and service. Collaborations are vital in digital strategies, and millennials lead the charge in influencing providers as they like content in a variety of formats and at their fingertips.
Finally, “content IS the ad,” the post says. “Consumers don’t want to be sold to—they want a conversation.” Messaging needs to include stories, infographics, and so forth.
Another blog says “Invention is not Innovation…” and “The key to unlocking game-changing digital banking experiences is to deeply understand the people that banks are looking to serve.”
Digital banking should be “an intuitive, respectful, relevant, and meaningful experience.” Many of these services are available at no cost.
“If banks truly want to create differentiated services that build lasting relationships, they must create services that show that they care.”
To create a customer-centric digital experience, do not:
Find successes in digital by considering the consumer’s social identity, copying from architects and product designers, failing fast and learning from mistakes, exploration of many ideas, working directly with consumers, and testing prototypes to get feedback.
Blue Man Isaac Eddy said of his performances: “You have to learn how to react in an egoless way, that’s really crucial.” It’s important to pay attention to the show as it unfolds, and “be willing to go off script and know how to make choices…”
In your attempts to achieve customer-centricity, do you listen in an egoless way? Do you do improv?