Today, the customer journey is much more complex and varies widely across financial service institutions’ customer segments. The introduction of online and mobile banking and the advent of the debit card, enhanced service ATMs, and the automated interactive voice response systems in the call center, have created many new steps and alternative paths in the customer experience. A successful customer journey map can uncover these alternative paths by allowing you to see your customer’s desired outcomes, thoughts, feelings, emotions, and pain points at each step.
This article is a guide to help you develop a customer journey map for your customers’ experience that will allow you to view your organization and its process through the eyes of your customer. This article outlines a real-world example of how a financial institution used journey mapping to identify the root cause of attrition and strategies for increasing customer retention when investment representatives retired.
What is Journey Mapping?
A customer journey map is a visual representation of the journey a customer has with your brand, products, services, and people. It is important to note that journey mapping is not an appropriate replacement for quantitative efforts, but rather a good starting point or supplement to quantitative efforts. It includes multiple touchpoints from the customer’s point of view, such as:
- Key moments and evaluation points in the process
- Positive and negative components of the experience
- Attitudes and emotions that may come into play