Virgin Money, a leading banking and Financial services brand in the United Kingdom, expands its customer experience (CX) program with InMoment, the leading provider of Experience Improvement (XI), to create more meaningful experiences in a digital world.
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“Using Touchpoint Impact Mapping we are starting to create a CX strategy that delivers an emotional experience in a digital world”
For 180 years, Virgin Money has built a legacy of excellence by making every step of a customer’s banking journey—from in-person transactions to digital dealings—as brilliantly simple as possible. With this in mind, the brand wanted to understand the journey and moments that matter most to customers in digital banking so they could make the most of their successes and focus on strategic improvements.
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Virgin Money knows emotions make memories stick, and customers make decisions based on emotions. The brand wanted a solution that would enable them to understand how memories it created throughout the journey impact customer choices. That’s why Virgin Money turned to their experience improvement partner, InMoment, to expand its CX efforts to include InMoment’s Touchpoint Impact Mapping.
Touchpoint Impact Mapping is a unique analytical approach InMoment developed to bring the emotional state of the customer to life at each journey touchpoint, creating a compelling insight into the drivers of behavior in the process. This approach is unique as it discards traditional survey metrics, analyzing only customers’ comments, measuring the frequency and emotional intensity of the themes customers talk about, then highlighting the emotional peaks across an experience.
Using Touchpoint Impact Mapping, Virgin Money saw how the onboarding process had a noticeable impact on future relationships with customers. Prioritizing this stage of the journey helped identify and understand any friction points in the application process and beyond. The team was able to develop an action plan to remove all friction points as quickly as possible, and ultimately create memorable, positive onboarding experiences for customers.
“Using Touchpoint Impact Mapping we are starting to create a CX strategy that delivers an emotional experience in a digital world,” said Kerry Matheson, CX Research Manager at Virgin Money, “We want to delight customers, remove frustrations, and make people happier about money, especially as more and more banking is digital, and not human to human.”
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