Friday, September 21, 2012

6 Golden Rules of Retail Banking Customer Service ? Rule #6 ...

6 Golden Rules of Retail Banking Customer Service ? Rule #6

RULE #6: Be proactive.

Customer service should not be a reactive exercise. Especially at a time of major upheaval for the retail banking industry ? the J.D. Power and Associates 2012 U.S. Retail Banking Satisfaction report forecasts that banking customer loyalty will continue to decline, and attrition will continue to rise.

According to?Forrester Research, reaching customers before they call-in shows that your organization has its customers? best interests in mind, and it will drive increased customer satisfaction. Additionally, communicating with customers proactively reduces the cost of managing inbound calls and increases customer satisfaction. Reminders about bill payments and card balances, tips about protecting debit or credit card security, or service updates can all be pushed out to consumers.? Doing so creates more than good will; it improves the overall brand experience.

One of our clients had a significant number of calls from cardholders checking the status of pending deposits. We build a solution using outbound calls to notify cardholders of pending deposits, rather than waiting for them to place multiple inbound calls. The result of this outbound notification has been a six percent reduction in calls to the call center.

In conclusion of this blog series: retail banks are facing an uphill battle to retain customers amidst changing financial services trends incited by recent regulations. But bank customers report that their loyalty can be won with exceptional customer service, convenience, elimination of the sources of dissatisfaction and experiences that delight (Bain & Company, Customer loyalty in retail banking Americas 2011). Is your bank doing everything it can to keep customers ? and keep them happy with the 6 Golden Rules of customer service? If not, adopt them right now and ensure your customer experience creates positive effects on your business and the bottom line.

read-the-first-post-in-this-series

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Tags: banking IVR, credit card security, customer loyalty, Forrester Research, paul logan, retail banking, retail banks

Source: http://www.contactsolutions.com/2012/09/20/6-golden-rules-of-retail-banking-customer-service-rule-6/

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