New Division at HCD Research uses Applied Consumer Neuroscience to focus on Customer Experience within Financial Services and Insurance Industries

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Jan 20, 2015, 11:00 ET

FLEMINGTON, N.J., Jan. 20, 2015 /PRNewswire/ -- HCD Neuro-Cognitive Financial Insights is a new division at HCD Research set to measure and optimize the customer experience. Steve Burns, Vice President of Business Strategy, who has been tasked with heading up this division, describes its mission as "integrating applied consumer neuroscience with traditional cognitive marketing research to optimize financial products and service attributes by better understanding the consumer decision-making process across the spectrum of financial and insurance offerings." Unlike current practices in financial and insurance industries that rely solely on examining a consumer's conscious thoughts and behavior through traditional research methods, HCD Neuro-Cognitive Financial Insights takes the research process one step further by also examining the consumer's subconscious through the use of consumer neuroscience research. By examining the subconscious in conjunction with the conscious (or cognitive), researchers at the division are able to gain deeper and more actionable insight into how consumers think, feel, and make decisions about existing and newly-conceived product and service offerings. Burns, a seasoned marketing professional, describes how the combination of traditional research methods and these new research methods are of enormous benefit. "This approach provides more meaningful information into the entire journey from your customer's eyes, helping you to understand not only how they interact with you today, but also identify improvement opportunities in areas that drive choice, loyalty, satisfaction, retention, and the positive or negative impact of corporate branding… all in the support of product and service optimization to drive sales."

With businesses on a constant mission to evaluate and understand their customer base, the findings at HCD Neuro-Cognitive Financial Insights will benefit the community in countless ways. The entire customer experience which involves all aspects from customer service, to communication and messaging, and even to product development, is the key to greater customer loyalty and is primarily responsible for competitive differentiation and growth. The division's services will provide businesses in the financial services sector new tools to reach and understand their customers in new and engaging ways, allowing them to tailor their offerings to successfully target specific customer demographic groups.

HCD Neuro-Cognitive Financial Insights will focus on adding value to financial services and insurance companies. To learn more about HCD Research, visit their website: http://www.hcdi.net.

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SOURCE HCD Research