When thinking about innovation, don’t just think of technology. Consider the customer experience.
“It’s about the connection,” Nicholas Webb said during a keynote address at CU Direct’s Drive 18 Conference Thursday in Grapevine, Texas. “It’s the way we understand our customers.”
That means not only knowing what your credit union members want, but also what makes them unique and, most importantly, what they love and hate, says Webb, a corporate strategist, innovator, and author of “What Customers Crave.”
Disruption is fueled by organizations that deliver “delicious” customer experiences, says Webb. He notes that Amazon understands what it means to deliver those types of experiences by providing relevant, customized experiences while also being innovative and introducing friction.
“It’s not about technology,” Webb says. “It’s about understanding your customers.”
While the online retailer offers thousands of items, Amazon delivers by having a community of hyper-influential users who purchase items and offer reviews. This allows buyers to select items seen as a low risk because of that community.
When Amazon moved into a brick-and-mortar book store, it focused on a small, 5,000-square-foot space which offered only five-star best sellers. “They only sell perfection,” Webb says. “They’re in the perfection business.”
To create a customer experience that members crave, Webb urges credit unions to keep three areas in mind:
1. The five touch points. During the member journey, focus on five points when interacting with customers:
2. Blend it. Create blended experiences in digital and non-digital touch points.
3. Customer typing. Identify member personas based on what they love and hate, not demographics. Knowing these personas will allow you to give the member the type of experience they’re seeking.
Webb says Apple Store employees “politely probe” each customer to determine the correct pre-designed experience—whether it's sending them to the Genius Bar or letting them find the product they’re seeking on their own.
“They understand you. They know what you love and hate,” he says. “That’s the secret to being able to deliver perfect and beautiful experiences.”
Organizations that can bring those three elements together—building a customizable experience, digital infrastructure, and identifying the personas—will be successful at giving members the experiences they seek.