Ottobre 19, 2020

From Dynamics365 Team Blog: How banks use customer data platforms to streamline connections

Any professional working in the banking industry would tell you that customers are their most important asset. In these unprecedented times, banks have a responsibility to prioritize customer needs and support essential workers, to alleviate anxiety, and respond to shifting tastes and preferences. As customers continue to face extraordinary financial circumstances, with new federal assistance programs, loans, mortgage freezes, changing retirement plans, or other potential financial hardships, banks have an opportunity to prove to their customers how they can provide a customer-focused banking experience.

However, with limited in-person interactions and feedback opportunities, it can seem nearly impossible to know what your customers want and need from you during this time. That’s why Microsoft Dynamics 365 Customer Voice provides organizations with a simple solution to gather and track customer insights that matter most.

Why customer data platforms matter: staying connected

Organizations have historically struggled to close the feedback loop to build a unified view of customers and employees, without having a pandemic to deal with. Fragmented data systems can create a disjointed view of your customer, making it difficult to proactively engage customers for feedback. By prioritizing data integration and implementing an end-to-end feedback management solution, which can close the feedback loop and build a 360-customer profile to stay connected to customers where and when they need you most. An ideal end-to-end feedback management solution empowers businesses to uncover and understand what drives a great customer experience and act on findings at the right time rather than merely react to negative feedback with small retroactive changes.

The first step towards a 360-degree view is to unify customer data across all data sources and business applications. These unified customer profiles can be further enriched with an array of first-party and third-party signals including customer feedback. Systems must seamlessly talk to each other to streamline and automate feedback collection to facilitate data analysis and to unlock powerful insights. These insights can then be activated in real-time within reporting dashboards used to trigger automated workflows that enable organizations to quickly act on customer feedback.

Dynamics 365 Customer Voice provides organizations with a simple, yet powerful, solution to capture and incorporate real-time feedback into your everyday workflows. Dynamics 365 Customer Voice connects with your customer data systems to incorporate the feedback you capture into a unified view of your target audience. This is done by centrally collecting, analyzing, and distributing insights across the business and seamlessly integrating with customer data platforms such as Microsoft Dynamics 365 Customer Insights and line-of-business applications such as Microsoft Dynamics 365 Marketing and Microsoft Dynamics 365 Sales.

Optimize your digital approach

The first step to understanding customers is, simply, to listen. We've found that an astounding 90 percent of customers want to provide feedback, while only 37 percent are occasionally given the opportunity to share. These days, banks are either closing branches or limiting walk-in customers and because of this they must adapt their services and operations to introduce new and necessary digital approaches.

You can check out the Customer Feedback Management Solution for Banks demo video based on a real-life example from one of our banking customers using Dynamics 365 Customer Voice to collect feedback throughout the customer journey, as the customer opens a new account and follows a home loan process. Dynamics 365 Customer Voice not only makes it easy for you to create an end-to-end customer feedback management solution, but also makes it easy for you to customize and integrate feedback workflow with your business applications.

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Democratize customer feedback across business applications

The banking industry is a highly saturated and commoditized market. Once you've started to collect feedback, the single, best way to differentiate your service and keep customers happy is to democratize your feedback across your entire organization. Often, we hear that customer feedback only gets collected and used by one or two people within the customer service team, when really it should be distributed across the entire organization and used to improve customer satisfaction and customer experiences across all areas of a bank's business.

Dynamics 365 Customer Voice uniquely positions any user to adopt customer feedback into their business applications and processes with built-in integration points with all Microsoft applications and any third-party application through Microsoft Power Automate.

With feedback connected across all your business applications you can surface insights tied to a specific customer and get context behind why they were unhappy, and quickly follow up with the next best action. An integrated view means that you can prioritize customers who display high levels of worry or dissatisfaction or better allocate team resources by anticipating which customers need basic financial literacy education versus which customers are looking to set new financial goals via portfolio diversification.

Once you start using Dynamics 365 Customer Voice as your feedback management solution, you can gather and track customer metrics that matter to your business. To learn more visit Dynamics 365 Customer Voice and learn more about how Microsoft supports businesses as they adapt to changing processes.

The post How banks use customer data platforms to streamline connections appeared first on Microsoft Dynamics 365 Blog.

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