The “Age of the Customer” has arrived, and with it has come an enormous amount of positive and negative consumer feedback. To increase retention and build stronger customer relationships, many mortgage lenders may be under-utilizing publicly available data sources like the Consumer Financial Protection Bureau (CFPB) consumer complaint database.
“By observing conversations on Facebook, Twitter, and LinkedIn, we understand what the actual needs of customers are, the problems they face, and use the same data to identify opportunities.” – Steven J. Ramirez, Beyond the Arc, Inc.
The answer: NOT the same as customer experience ‘improvement.’
“Too many innovation initiatives are vulnerable to copycats… and since 72% of businesses look to copy companies in other industries… firms struggle to differentiate themselves from the herd.”
Despite an increased focus on customer experience initiatives by banks of all sizes, new research has found that not all of these efforts may be resulting in revenue growth.
In fact, while some banks and credit unions are significantly outperforming peers, others aren’t focusing on efforts that customers care about most.
In a just released [...]
Webinar: “Parsing and Preventing CFPB Complaints”
Date: November 12, 2013
Time: 12:00-1:00 p.m.
Register Today: http://www.americanbanker.com/webseminars/-1061966-1.html
With customer complaint data increasingly available in public sources such as social media and the Consumer Financial Protection Bureau (CFPB) database, is your company making the most of it?
The CFPB is making good use of that [...]
BAI Retail Delivery 2013 – Denver, CO
Workshop co-presented by Beyond the Arc, Inc.
Date: November 4, 2013
Time: 8:30 a.m. – 11:30 a.m.
To identify emerging issues before they spell disaster, banks need to closely monitor consumer complaint data. Leveraging data such as complaints from the Consumer Financial Protection Bureau (CFPB) database [...]