In this customer experience report, there is a GT Bank as the famous bank in Nigeria is selected. The purpose report to analyze the impact or role of the customer experience on the brand’s success.

Customer Experience Importance:

Define and Explain the Concept:

The analysis of emotional, opinions, and the perceptions of the customers is called the customer experience at the time of when they discover the brand or research a product or service. The activities of pre-purchasing, consumption, and post-purchasing represent the broad activity for raising the capabilities and generating the best decisions. Customer experiences are all customer interactions with the company at all stages and generate broad relationships between the business and the customers. There is a holistic perception is developed by the company through the given areas of success and observing the broad decisions in the customer experiences. There is a higher customer lifetime value and reducing the churn rate of customers are the main benefits organized from the customer experience. Higher staff wages from the hiring of employees and the extra time staff are the key challenges of the business values regarding the instant directions. So, the importance of customer experience for the brand’s position is effective or necessary.

An importance of CX in the Company:

Customers and their requirements are the great importance criteria for the success of GT Bank in Nigeria.  GT bank develop the broad knowledge to understand the business directions and reach the coordinated values as doing the higher innovation. To improve the customer experience, GT Bank develop the effective or innovative strategies that boost the organizational strengths and the fulfill of customer’s demands. The effort initiated by GT Bank is to provide services and banking facilities to customers that improve their experiences with a positive attitude. So, customer satisfaction and motivation are the broad terms that organize the particular changes and build broad decisions in the future. So, the entire activities can be tackled or maintain the broad planning that can improve the organizational internal activities.

Define and Explain the Concept:

The analysis of emotional, opinions, and the perceptions of the customers is called the customer experience at the time of when they discover the brand or research a product or service. The activities of pre-purchasing, consumption, and post-purchasing represent the broad activity for raising the capabilities and generating the best decisions. Customer experiences are all customer interactions with the company at all stages and generate broad relationships between the business and the customers. There is a holistic perception is developed by the company through the given areas of success and observing the broad decisions in the customer experiences. There is a higher customer lifetime value and reducing the churn rate of customers are the main benefits organized from the customer experience. Higher staff wages from the hiring of employees and the extra time staff are the key challenges of the business values regarding the instant directions. So, the importance of customer experience for the brand’s position is effective or necessary.

Customer Persona Creation:

Define and Explain:

There is a user centered design as well as marketing that is a personalized fictional character as created to represent the user type that might use a site is called customer persona.

A process customer persona or its profile represents the person’s characteristics of the particular target customer. Usually, it represents a brief description of the consumer to cover the majority of the customer’s responses. The goals, motivation, profession, and the other basic components that represent the profile of the customers are the customer persona. The lack of data, too many personals lack of validation, lack of alignment, and the lack of impact are the key challenges of customer persona. For getting the business directions or take the higher innovations regarding the best plannings. These personae effectively exclude the future customers as doing the intentionally system.

Customer Journey:

Define and Explain:

A process of customer journey is a tool that helps marketers to understand the series of connected experiences that customers desire as well as need. To fulfill the desired tasks and traverse the overall process or journey as a loyal advocate. The customer journey map lays out all the touch points that the customers may have with the brand from the first heard of through the social media or the advertising of the brand. The customer journey map enables the companies to view the products form the different perspectives as they can analyze the different users’ scenarios to track the loopholes or the business consistency plans. It helps to understand the needs of the customers.

Omni Channel Marketing:

Define and Explain:

Omni channel marketing is the use of diffident channels and the social techniques that collaborate the business values and added to track the business abilities regards the higher innovation. The social media, E-mail marketing, content marketing, and the other sources that uses to track the business values are the main Omni channels that mostly uses by the brands. It is the process that refers to the presence of the firm across different challenges, all of these channels include websites, applications, social media platforms, and the processes of e-mail. To improve the experiences of the customers, the development of effective Omni channels is required that encourage the business values and the achievement of positive results.

Omni channel marketing is the way to engage with the customers across the different channels that help to organize the structure and generate the best planning as required in the future. Various physical, as well as digital channels, are required to accomplish the best objectives of the business and determine the best terms as required in the future.

Role of Interaction:

To improve organizational values and generate broad decisions, the firm’s decisions can be valued. Omni-channel marketing develops strong interaction between the customers and the business through the use of a proper channel that can be observed to get the specific change. To integrates the diverse shopping methods to make the proper journey of customers as smooth as well as the possible by imagining the greater practices are instantly defined. To transform every customer interaction into the memorable as well as tailor-made experience, the business directions will be reliable. The customized omni channel approach is a game charger brand that leads the higher values and adds the broad practices in the strategic change. Businesses can craft a rich as well as personalized tapestry of experiences across all channels that can build the most reliable values. The Omni channels allows agents to provide better and more personalized support.

Sales and Marketing Channels Used by The Company:

GT Bank is the largest bank in Nigeria that focuses on improving the experiences of customers. There is a variety of channels that are used by the company to improve business practices and generate the best-organized roles for the customer’s satisfaction. To build a strong and positive experience for the customers, the firm’s role can be transformed into the future.
There are a lot of branches that have by the GT Bank in the market of Nigeria. These branches use the online as well as offline progressive term as doing the higher growth practices. So, transform the customer interaction using the multiple channels for the promotion, GT Bank uses the better categories.
With an Omni channel approach, GT Bank uses multiple channels like Branches, ATMs, digital platforms, and call centers’ these Omni channels make the process far more productive as well as convenient which helps to speed up the time that it takes to get a loan approach. Mobile messaging, E-mail text, and different other digital platforms networks are used by GT banks to aware the customer and build strong interaction with them.

CX Performance Metrics:

LTV:

Description:

LTV is a metric that directly derives the net profit that the company can expect to the generation from the customer throughout the entire relationship. It takes into the entire account as buying power of the customers and builds repeat purchases with the timeline of the relationships with the firm.

Calculation:

It can be calculated through the customer value and its product into the average lifespan of the customers that it spends with the company.

Customer lifetime value = Customer value * average customer lifespan.

Evaluation:

Benefits to Use:

• This metric helps size up customer satisfaction.
• It helps to generate a higher level of loyalty as well as the viability of the brand.

Challenges to Use:

• There is complexity and uncertainty that can be seen in the entire process of a business’s success.
• It can affect the customer acquisition cost and decrease the company’s profitability in response to the negative experience of the customers.

NPS:

Description:

NPS is another customer experience metric which means evaluating customer experiences and product business growth as the proven metric transformed the business world. Net promotor score is a measure that is used to gauge the satisfaction, loyalty, and response the customers on a scale of 0 to 10. It helps a business to improve its reputation and generate the best decisions as required in convenient terms.

Calculation:

It can be calculated by the analysis of the promotors’ portage as well as its difference from the detractors’ percentages. The business values and the sustainable plans can be transformed to determine the changes as they generate the best decisions related to the most convenient practices.

Evaluation:

Benefits to Use:

• It helps to identify the key business strengths and weaknesses to proceed with the operations in the future.
• It helps to generate a higher level of loyalty among the customers.

Challenges to Use:

• There is a challenge of a Low response rate appearing while using this metric.
• There is no chance to ask another about it giving the negative rating as an NPS metric of customer experience.

Relevance of The Two Metrics:

For the GT bank’s performance and its customer satisfaction, both lifetime value and the net promotor score as the key metrics of the customers are beneficial. To improve the business resources and generate the best practices, organizational activities can be transformed into the future. Building direct interviews, following up the e-mails, and generating broad processes as required in the future will help to proceed with the changes.

It is entirely focused on the existing customers as the NPS does not capture e entire processes that are happenings to anticipate the demands. NPS and LTV give a positive response to business success b evaluating the experiences of the customers for GT Bank that’s why they are the most suitable metrics for business values.

CX Processes of Industries:

Different industries run the e-tire operations of businesses in the world. Every industry has different operations to improve the experience of the customers and generate the best practices related to convenient practices. Governance: It’s made up of five elements in which CX core teams, Executive Sponsors, Steering the committee, working group practices, and the CX ambassadors’ visits . It is critical to manage business operations and generate broad plans as required to achieve higher success. A business can manage its CX program as well as assure the success of the firm by creating the clear plan or the method that called the CX governance. It provides the framework for determining the vision, objectives, and the key priorities of the business values. So, developing the rules and policies to determine the best CX programs the organizational strategies will be classified as doing the higher innovation.

1. Culture:

It means evaluating customer happiness and building justified recommendations to drive the force for all the strategic decisions and the entire communication internally and externally. There is an engaged or empowered workforce that provide the proper culture of the business directly influence the entire changes. To improve the strong culture of the business, the organizational decisions become classified to track the innovative and the organized specifications as taking the best abilities regarding the better or the reliable terms.

2. Customer Experience Strategy Design:

The process of customer experience design is a method to further develop the key initiatives after you are running the customer journey mapping as well as the key opportunities with the entire terms of brainstorming. The development of customer experience means the strategy must be effective and relate to the perfections of the customers. The CX strategy design comprises the programs or plans that the firm puts in place at each customer touchpoint along the customer journey. So, a good CX strategy include the measuring about how customers feel over the time to create the higher quality experiences as improve the customer’s loyalty.

Conclusion:

In this report, the role of customer experiences and their importance to the success of the business is defined. In the market of Nigeria, the CX strategy of GT bank is very effective because the company uses both offline as well as online medias to satisfy the customers that are loyal with the brand. So, there is a n effective strategy for their business directions as dealing the higher or the innovative business reuses. GT bank is a famous bank in Nigeria that improve customer exudence by creating impactful strategies that can be reliable or build a positive response of the company. The importance of customer experience empirics like the lifetime value of customers and the net promoter score is also defined to evaluate the business policies and update the best policies.