What Social Media Tells Us About U.S. Bank – 3 Key Insights

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Social media is full of valuable insights about consumers, but sorting through the noise is no easy task. The key is to collect the right data, filter it intelligently, and use the appropriate text analytics tools to let the data speak. Beyond the Arc performed an analysis on social media data about U.S. Bank to [...]

How Classifying Data Drives Value in Your Voice of the Customer Program

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Co-author: Gavin James

In simplest terms, a Voice of the Customer (VOC) program captures your customers’ experiences and feeds them back into the organization to drive improvements that help grow your business. Whether customers feel good or bad about their experience with your products and services, your VOC effort enables you to hear [...]

Using the customer lifecycle to improve your Voice of the Customer program

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Millions of consumers interact with banks each day to manage their finances. As technology evolves, customers have the flexibility to interact with their bank through a wide range of channels, moving beyond the branch and snail mail, to an increasing reliance on social media and mobile banking. With the rapid growth of online communication, retail [...]

Taking card rewards programs to the next level

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Today, card issuers are focused on how they can innovate in their rewards programs to attract and retain customers. Many are looking to the successful Groupon Deals model of online discounts for inspiration (see Bank of America’s recent announcement about a BankAmeriDeals merchant discount program they’re testing).

Social media is emerging as a key vehicle [...]

2012: Customer experience is the new brand

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Co-author: Dana Roytenberg

Lessons for financial institutions to increase brand impact

Most companies spend a lot of time defining their brand – the values they want people to associate with their business – and market to promote that perception. But these days, companies face challenges in controlling how their brand is perceived, because customers have [...]

Emerging Issues – Stay ahead of the curve with your Voice of the Customer program

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2011 was an important year for Voice of the Customer (VoC) programs in the financial services industry.  Many banks and credit unions adopted new Voice of the Customer initiatives, and companies with existing VoC programs began to harness their full potential with new types of analyses.  Some companies monitor customer feedback to determine the top [...]

How social media fueled Bank Transfer Day

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Co-author: Brandon Purcell

Social media analytics of Twitter comments provide answers

By now, you’ve probably heard of Bank Transfer Day, a grassroots movement launched on Facebook® by a disgruntled Bank of America customer. The event, which prompted people to move their accounts from “big banks” to community banks and credit unions, generated a groundswell of [...]

Using social media to increase the value of sponsorships

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For the past 35 years, JP Morgan Chase has hosted the Corporate Challenge, a series of 3.5 mile footraces in cities across the globe. JP Morgan describes the event on its website as “a global celebration of corporate teamwork, camaraderie, and community giving.” So far this year, over 225,000 people have participated in the event, [...]

How to get the most out of customer relationships with customer segmentation and predictive analytics

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Customer segmentation enables companies to get more bang for their buck by directing marketing efforts to the most likely targets.

Segmentation is a widely used technique in marketing, a way of dividing customers into groups based on their demographics, attitudes, buying behaviors, and other attributes. Using predictive analytics makes it an even more powerful tool [...]

A Tale of Two Acronyms- Why a VOC program is essential for a comprehensive CSR initiative

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Companies across the world are beginning to establish Voice of the Customer (VOC) programs – using text analysis and other tools to listen to their customers on a large scale.  They are monitoring feedback in a way that was previously impossible, and are changing their businesses based on what they hear.

Meanwhile, Corporate Social Responsibility [...]