Forrester CX: Mark McCormick of Wells Fargo

We are live-blogging from Forrester’s CXNYC this week, the event for customer experience leaders, innovators, and practitioners.

The key to CX is SIMPLICITY.

How do you drive change and create culture around a new mindset?  It’s simplicity. It’s the new black.

You need to make difficult things easy to understand.  They will drive results.

What are the old blacks?:

• Choice: equals effort and that makes people leave
• Wow / delight
• Innovation

Revolutionize Your Business With Generative AI

From product design and software development to virtual agents, content creation, and reporting, GenAI is transforming business. Our AI experts help you unlock GenAI’s full potential and drive growth.

Let’s Get Started

These three things are hollow unless they are simple.

Fact: High delight values didn’t result in change.  Most people are task focused.  Just get it done.

Simplicity

• Drove 170% better stock value

Case Study: Chase Business Banking had a problem:

• Lots of bank centric products
• Redesigned the product. simplified from 19 plans to three plans

Case Study: ING DiBa. They simplified products and had a 7.5% increase in revenue growth.

• This also decreased the complexity of the back office and saved money there.

Wells Fargo Simplicity Project

They have been working on it for three years as a side project.   They are just now launching it as an initiative.

Quote: Simple can be harder than complex. Steve Jobs, CEO Apple

Complexity robs our customers of their time and their confidence.

Key findings:

• Fraud specialists desks were messy.  They had to interact with over 60 systems
  • answer: reduce to 8 systems

Framework

1. Empathy. Operationalize empathy
2. Commit to essentials
   1. determine whats the most important
   2. reduce everything else
   3. Map the journey.  Think dream paths with no 90 degree corners. Make it as simple as possible
3. Create a human story
   1. Spark human emotions
   2. Blend logic and emotions to persuade and convince
   3. Story about buying a diamond ring
   4. Speak Human has a story about bikes for human
      1. where do you plan to ride
      2. how tall are you
4. Iterate, test, repeat
   1. Playful and disciplined
   2. Stop testing, “Can they get from point A to point B”
   3. Move to is it simple to get there
   4. MRI example: created a simplicity metric. Changed the design and color scheme. Cut the number of sedated kids by a huge margin
   5. What to do:
      1. immersive workshops
      2. great web site
      3. lots of lunch and learns