End-to-End Customer Journey Measurement
End to end customer journey measurement is the procedure of tracking and recounting the experiences and feelings customers have as they encounter a particular event or service. This can unearth significant opportunities for positive development within the customer experience, providing key insights into the practical and emotional needs of the customer.
Details of some of our current customer journey monitors can be found below.
New Customer Acquisition Monitor (NCAM) - Mortgages
Delivered via longitudinal panel methodology, this study follows a single cohort of mortgage applicants along their journey from acceptance by the client to mortgage completion. Typically running for 10-12 weeks, panelists are telephoned weekly and asked about their various service and communications experienced in the preceding 7 days. A mix of 'harder' quantitative type measures are combined with open-ended 'qualitative' style questioning to provide our client with richly diagnostic information about each experience.
BDRC has run 5 of these cycles for the same client, and process changes implemented as a result of the NCAM study are now paying dividends in terms of satisfaction, brand warmth and advocacy ratings.
Our high street banking client currently offers many different credit cards. There are many different reasons why consumers take our credit cards, a variety of application channels and ongoing usage patterns. Our client wanted to understand the end to end customer journey that a customer experiences when taking out a new credit card and how this compares across the various product offerings. The research objectives included improving and developing the overall credit card sales experience and after sales service that the client delivers, uncovering any failure points throughout the credit card process, redesigning the aplication process and identification of any quick wins and to uncover any longer term customer experience improvements.
130 card applicants were recruited in wave 1 of the panel and then a further 5 interviews took place at key stages in the process to track the experience of cutomers and to assess the impact of each stage on customer opinion of the bank.
Lost Business - Mortgages
Even a 1% reduction in lost business between KFI issue and completion would net our client millions of additional pounds to the bottom line. Consequently BDRC were commissioned to develop and deliver a mortgage applicant panel that would help indentify the points at which and the reasons why potential applicants 'fell out' of the process.
A panel of 250 consumers issued with a Key Features Illustration was recruited and interviewed fortnightly for 6 waves as their application was processed through or as they opted to leave or selected another lender. BDRC was able to supply the client with a series of powerful insights around the brand impact of various service and communication initiatives and to illuminate how customer requirements varied by products, loan size and fee paid etc.
"Barclays has comissioned several successive waves of longitudinal mortgage application panel research with BDRC. The results have enabled us to identify issues and make real, significant changes to our processes, comunications and working practices to the benefit of our customers."
Simon Goodwin
Head of Performance Measurement
UKRB Retail Operations
(January 2008)
Simon Goodwin
Head of Performance Measurement
UKRB Retail Operations
(January 2008)
