The boostCX Blog

No matter what industry you operate in, if you deal with customers in your day-to-day business, it is important that you have the right skills to help build your brand and deliver an exceptional experience to your customers. And if you are a customer experience (CX) professional, it is even more important that you have the right set of skills. Here are our Top 6 Important Skills for Customer Experience Professionals to Have according to the boostCX Team.

What Are the Most Important Skills for a CX Professional to Have?

Customer experience professionals need to have a diverse skillset that combines empathy, communication, analytical abilities, and the ability to look at the whole customer experience as a strategy to drive business. These skills enable employees to connect with customers on a deeper and broader level, gather and analyze important customer feedback and data, and develop strategies that improve the customer journey.

Here are six important skills for CX professionals to have:

1. Ability to Empathize with the Customer

Empathy is the foundation of a positive customer experience. Employees need to understand and share the feelings of their customers, walking a few steps in their shoes to really understand their needs and expectations. For example — if a customer is frustrated about a delayed delivery, a customer experience professional with empathy can acknowledge their feelings, offer a sincere apology, and work to resolve the issue.

2. Ability to Communicate Effectively

Clear and concise communication is critical for building relationships and rapport with customers. CX professionals need to be great communicators, via email, text, phone, in person, or any other medium, to ensure that customers feel heard and understood. This includes actively listening to your customers, providing clear explanations, and having the ability to tailor communication to better fit your audience.

3. Ability to Analyze Customer Data

CX professionals need to have the ability to gather, analyze, and interpret customer data and feedback to identify trends, patterns, and areas for improvement. This data-driven approach allows them to make informed decisions and develop strategies that enhance the customer experience, and this is made simpler with innovative solutions like the boostCX platform. A key example is analyzing customer feedback surveys that can reveal pain points in the customer journey that need to be fixed.   

4. Ability to Build Relationships with Customers

It is critical to build strong relationships with customers, create a sense of loyalty and provide positive experiences. CX professionals need to be able to connect with customers on a personal level, build trust, and cultivate long-term relationships, which translates to a personalized experience for customers. Examples of this may include remembering customer preferences, offering personalized recommendations, and proactively reaching out to address customer concerns.

5. Ability to Adapt to Change

The customer experience landscape is always changing and may be different from one industry to the next, and CX professionals need to be able to adapt to new technologies, trends, and customer expectations. This requires flexibility, a willingness to learn, and the ability to adapt to new challenges. For example — as new communication channels are established, CX professionals need to adapt their strategies to engage with customers on their preferred platforms — like social media.

6. Ability to Look at the Customer Experience Strategically

This skill ties all the others together. CX professionals need to be able to see the big picture and develop strategies that align with business goals and enhance the overall customer journey. This involves understanding the customer lifecycle, identifying key touchpoints, and developing skillsets that improve customer satisfaction, brand loyalty, and retention.

READ MORE: What Are the Key Features of Customer Experience Management?

By cultivating these Top 6 Skills for Customer Experience Professionals to Have, you can create exceptional experiences that grow customer loyalty, drive profits, and build a positive brand reputation. Contact boostCX today for a demo of our customer experience management solutions and find out how we can help you improve your customer journey!

Finance is all about numbers — and when it comes to measuring success for your bank, credit union, or financial institution, Key Performance Indicators (KPIs) may be even more important. Providing a quality customer experience for financial customers will help build trust and loyalty with your bank and it is important to know how to measure and track the customer experience at your business. This quick list of the Most Important Customer Experience KPIs in Finance and Banking may be able to help you see where there may be room for improvement in your operations.

Top 5 Customer Experience KPIs in the Finance Industry

There are many metrics you can track to gauge customer experience success and some have more value than others based on the industry you are in — especially in the financial sector where trust and loyalty are keys to success. These KPIs provide important insights into customer satisfaction, engagement, and overall experience, enabling banks and credit unions to make data-driven decisions to optimize services and improve customer relationships.

Here are five of the most important customer experience KPIs to focus on in the finance industry:

1. Net Promoter Score (NPS)

The Net Promoter Score metric measures customer loyalty and satisfaction by asking how likely customers are to recommend your institution to others. Most customer surveys that target NPS ask — How likely are you to recommend this company/product/service on a scale of 1-10? The results provide a valuable gauge of overall customer loyalty and can help you identify areas for improvement with follow-up questions and additional feedback.

‍Example Equation: % of Promoters (9-10 Rating) - % of Detractors (0-6 Rating) = NPS

2. Customer Effort Score (CES)

Customer Effort Score measures how easy it is for customers to interact with your bank or credit union and resolve issues. Customers don’t want to have to fight to access their accounts, start a new account, or transfer funds, and a negative experience will impact your CES. A low CES indicates a positive customer experience, leading to higher satisfaction and improved loyalty.

‍Example Equation: (Sum of all CES ratings) / (Number of Respondents) = CES

3. CSAT (Customer Satisfaction Score)

Your Customer Satisfaction Score measures customer satisfaction with specific interactions, products, or services. It provides direct feedback on targeted areas of your business and your customer experience. Your CSAT can highlight where you excel and where you need to improve.

‍Example Equation: (Number of Satisfied Customers) / (Total Number of Respondents) x 100 = CSAT

4. Customer Acquisition Cost (CAC)

Customer Acquisition Cost measures how much it costs to acquire a new customer. It's an important metric for evaluating the effectiveness of your marketing and sales efforts and plays an important role in emphasizing the importance of customer retention for your bank or credit union.

‍Example Equation: (Total Marketing and Sales Expenses) / (Number of New Customers Acquired) = CAC

5. Customer Lifetime Value (CLV or LTV)

Customer Lifetime Value represents the total revenue a customer can be expected to generate throughout their relationship with your financial institution. Having a better understanding of your CLV helps you prioritize high-value customers and make informed decisions about customer retention strategies.   

‍Example Equation: (Average Customer Revenue Per Year) x (Average Customer Lifespan in Years) = CLV‍

‍READ MORE: Best KPIs to Measure Customer Experience ROI‍

Tracking and analyzing important KPIs for banks and credit unions can help you gain a better understanding of your customers’ needs and expectations. This helps you employ data-driven decision-making to improve the customer experience, enhance satisfaction, and build loyalty.

Want to learn more about how you can leverage customer experience KPIs to enhance your business’s performance? Contact boostCX today for a demo and find out how our solutions can help track, analyze, and improve your customer journey!

Customer experience management focuses on improving the overall experience for your customers at every customer touchpoint with a variety of strategies and solutions. Businesses that have an understanding of the customer experience and optimize every touchpoint in the customer journey, can build loyalty, increase customer satisfaction, and drive growth.

Effective customer experience management requires a combination of technology, data analysis, and a customer-focused strategy. Businesses interested in customer experience management software and solutions want to know — what are the key features of customer experience management? boostCX is here to help answer your questions about customer experience management software.

Top 5 Features of Customer Experience Management Software

Customer experience management software and more comprehensive platforms offer a wide array of features designed to streamline various aspects of customer experience management. These features help businesses optimize their processes, gather valuable customer feedback, and personalize interactions to improve customer satisfaction and build loyalty.

Here are five key features to look for when choosing customer experience management software:

1. Omnichannel Support

Customers interact with businesses via various channels — from email and phone to social media and live chat. Omnichannel support enables businesses to provide a consistent experience across all platforms. AI-powered chatbots and virtual assistants can further enhance omnichannel support by providing instant 24/7 assistance and personalized guidance. boostCX offers omnichannel engagement tools that integrate AI and virtual assistant support for efficient and personalized customer interactions.

2. Customer Feedback Analysis

Gathering and analyzing customer feedback is critical for understanding your customer base and identifying areas for improvement. Customer experience management software with built-in analytics can help you track customer satisfaction, identify trends, and measure the effectiveness of your strategies. AI-powered analysis allows you to analyze massive amounts of customer feedback quickly and make data-driven decisions. boostCX provides AI-powered analysis and tools to help you extract valuable data from customer feedback.

3. Social Media Engagement and Reputation Management

Social media plays a significant role in customer experience and influences many purchasing decisions. Customer experience management software with social media integration and engagement allows you to monitor brand mentions, engage with customers on multiple platforms, and manage your online reputation where customers are most active. boostCX offers social media management tools that enable you to track conversations, respond to comments, and proactively engage with your audience on multiple platforms.

4. Automation

Automating repetitive tasks, such as sending personalized emails or routing support tickets, frees up valuable time for your team to focus on more complex issues and high-value customer service interactions. Software with automation capabilities can streamline workflows and improve efficiency for your customer experience team. boostCX provides a range of automation tools, including workflow automation and personalized email campaigns that can help your team save time and effort in day-to-day operations.

5. Customer Segmentation

The ability to segment your customer base, based on previous preferences, products, or services, allows you to personalize communications and offers to specific customer groups with shared characteristics. Software with segmentation capabilities enables you to personalize your marketing efforts, target specific audiences, and provide more personalized experiences and offers. boostCX offers advanced segmentation tools that allow you to group customers based on demographics, behavior, and preferences.

‍READ MORE: Top 10 Myths About Customer Experience

By leveraging these key features of customer experience management software, businesses can gain a deeper understanding of their customers, personalize interactions, and optimize the customer journey to improve the overall experience. This has the ability to lead to increased satisfaction, improved loyalty, and a more successful business.

Contact boostCX today to learn more about our comprehensive platform and find out how we can help you achieve your goals!

Businesses that find ways to stay ahead of the curve will stand out from their competitors and find business success. A major part of that is looking at the future of your industry, whether that is automotive, hospitality, or banking, and predicting where technology, markets, and business strategies will lead. When it comes to customer experience management, it is important to look at how technology like AI will impact the customer experience and how it influences your own strategies. If you have wanted to ask — what’s the future of customer experience — we have got you covered with our list of 5 Predictions for Customer Experience Management in 2025.

What’s the Future of Customer Experience?

The future of customer experience is all about creating personalized, seamless, and engaging interactions that build loyalty and lasting relationships with customers — but how that goal is achieved in 2025 and beyond may look different. Businesses will need to leverage technology, data, and employ human-focused strategies to meet the evolving needs and expectations of their customers.

Here are a few predictions for customer experience management and customer service in 2025:

Personalization Will Evolve

Personalization of the customer experience is critical for business success and that may never change — but in the next few years, personalization will move beyond basic segmentation and become hyper-personalized. AI and machine learning already have the ability to analyze vast amounts of customer data, but future variants will be able to collect data from customer browsing history, digital behavior, and other online interactions to hyper-personalize customer experiences.

AI Will Be Used to Predict Customer Needs

Understanding customer needs is a major key to success for almost any business and AI will play an even bigger role in the future. AI will play a critical role in predicting customer needs and proactively addressing potential issues. By analyzing historical data and behavioral patterns, AI can and will be able to anticipate customer requests, offer timely solutions, and prevent negative experiences with proactive strategies.

AI Will Be Used to Help Close the Customer Feedback Loop

Businesses have always looked for ways to close the customer loop and AI may be able to make that simpler. AI will help businesses close the customer feedback loop by automating the collection, analysis, and response to customer feedback. This allows businesses to address concerns quickly, identify key areas for improvement, and show customers that they are heard and valued.

Businesses Will Need to Listen and Be Accountable to Customers

Finding a business they can trust is important to many customers and businesses that build that trust and transparency will find success. Customers have been empowered to provide feedback on multiple platforms and businesses need to be responsive to those needs and that feedback.  Social listening and proactive engagement strategies will be critical for businesses that want to build trust, address concerns, and be accountable in 2025.

Businesses Will Move From AI to More Advanced Technology

While AI will remain a key player in customer experience management, businesses in 2025 and beyond will begin to explore and adopt more advanced technologies like augmented reality (AR), virtual reality (VR), and the metaverse to create immersive and engaging customer experiences at every customer touchpoint.

‍READ MORE: Top 5 Consumer Trends We Will See in 2025 and Beyond‍

Armed with this list of 5 Predictions for Customer Experience Management in 2025, you can get a glimpse at the future and plan for how you may want to adapt your business. By embracing these future trends and leveraging the power of technology, businesses can create exceptional customer experiences today and into the future that set them apart from the competition.‍

Contact boostCX today to learn more about our innovative solutions and discover how we can help you navigate the future of customer experience management!