Customer Service vs. Customer Experience
Who determines the value of the service being delivered at your institution? Good customer service is vital to the success of any institution. Research says that it takes 10 times the effort to keep a customer loyal to an institution today in comparison to the effort it takes to get them to choose to do business with the institution in the first place. Employees may execute the transactions accurately and be polite and courteous when interacting with the customer, but does the customer experience the interaction as satisfactory, but lacking something? The question becomes: Is what I’m doing being experienced by the customer in such a way as to make them feel this was the best service they’ve received? Do we go the extra step to meet the customer’s needs? Do we put ourselves in their shoes to determine what actions we should take to ensure the experience is extraordinary? Financial institutions looking for ways to increase the relationship with the customer know that the success of the relationship is in the hands of the people who wait on and assist customers every day. While certainly an important skill, it takes more than processing transactions accurately and being courteous to grow the relationship with the customer. Customers like to do business with someone who will go above and beyond to help them through an uncommon or complicated situation. Employees who practice customer advocacy earn customer loyalty. How do you deliver value while creating amazing experiences for your customers? Wow them with a genuine interest and care, wow them with an experience. Customers who feel a connection to the people who wait on them feel valued and well-cared for and will not only increase their relationship with the institution but will also recommend you to their friends.