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E.g., 2022-10-04
E.g., 2022-10-04
September 15, 2022
If you’ve been listening to NPR or watching CNN recently, there’s a new buzzword out there that is directly relevant to the employee experience: “quiet quitting.” The term apparently originated in a TikTok video earlier this year. It refers to the practice of putting in the minimum amount of effort and time at your job in order to focus on work-life balance or other interests—or while you wait to...
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September 12, 2022
The financial industry is putting great value on understanding customers’ needs. Once those are clear, financial institutions (FIs) can market their services and products directly toward those needs. Understanding customers’ needs also helps FIs set a clear goal: not only to meet the needs of their customers, but to exceed them. However, needs are subjective and change rapidly. Often, by the...
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July 29, 2022
The 1950s in America was the era of the booming economy. The GDP was growing, inflation was declining, and unemployment was low. The average American family had twice as much real income to spend as the average family of the 1920s. To spend it wisely, many customers looked to their financial advisors and bankers for advice and guidance. These service providers built a relationship that went...
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July 21, 2022
The Great Resignation—a phenomenon in which an unprecedented number of employees worldwide quit their jobs over the past few years—has ushered in novel ways of thinking about workplace culture. Employees are prioritizing a better work-life balance, remote and hybrid options, and higher pay. Many companies have sought to adapt to these shifting expectations, but a talent gap—or labor shortage—...
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June 30, 2022
Recently, NBC News reported a story of wide employee discontentment at Starbucks due to customer satisfaction scores and the effects these scores have on workplace evaluations. Managers are using customer survey results to penalize employees, and the practice is meeting resistance. These survey results, the so-called “connection scores,” are collected from Starbucks patrons and report on...
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April 27, 2022
In the last few years, the phrase “total experience” has become trendy. “Total experience” (TX) is a singular strategy for experience improvement that includes customer experience (CX), user experience (UX), employee experience (EX), and multiexperience (MX—or omnichannel). The idea behind a TX approach is that improvements to one type of experience will improve the other three experience areas...
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April 21, 2022
Every week, our Customer Experience (CX) practice has about a dozen conversations with CX and marketing leaders across the insurance and banking industries. Something on everyone’s mind right now is how to successfully cross-sell to customers without alienating them. In one such conversation last week, an insurer lamented, “I wish we did a better job using our own digital properties as a way to...
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March 30, 2022
Our goal as a company is to help our customers reach their goals by providing the right advice and insights at the right time. When we learned that more than 80% of our customers have a strong focus on customer experience (CX) in 2022, we took action. I’m excited to announce the creation of Aite-Novarica’s Customer Experience practice—a cross-industry team focused on providing research,...
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March 24, 2022
The voluntary benefits market has become more attractive as responsibility has shifted from employer to employee for many non-medical, health-related insurance products. As plan sponsors want to drive out costs, insurance carriers must execute the basics—benefit and policy administration, enrollment, case installation, marketing, and product design—while driving greater efficiency. Scale...
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October 18, 2021
Insurers tend to think about their agent and customer portals like medieval European castles: an impenetrable environment, where a monarch controls everyone’s experiences and determines who goes in or out through one heavily guarded doorway. But modern, omnichannel experiences challenge this image. Today’s portal is just one touchpoint within a longer string of experiences, triggering...
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