Question

Imagine for a moment that you are in charge of your favorite local business –not Apple, or Amazone. Now that you have a business in mind, how would you go about designing a “system” to evaluate its customers’ service health?

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Answer 1

Dear Student,

There are 8 ways to improve customer's service :

1. Empower Your Employees

Your customer service employees are your frontline. As such, they need to have the right resources to provide exceptional customer service. But many times they don’t. Far too many banks and credit unions are falling behind when it comes to providing their employees the tools they need to most effectively do their job. The result --Not only does customer service quality suffer, but employee morale as well.

• Accurate, up-to-date and consistent information
• Immediate answers to their questions
• An easy way to search for information

2) Allow Consumers to Self-Service

Today’s consumers are increasingly more and more self-reliant. They use it searching for a product or service, or changing the settings on our own account or service plan – the ability to do-it-ourselves is not only convenient and efficient, it’s empowering. For Example : We’ve been conditioned by digital services like Netflix, Amazon, and Google to find what we want, whenever we want – so much so that we yearn for and expect it

3) Stay Consistent Across All Touch Points

Providing consistent and accurate information across channels is a constant challenge for banks and credit unions.

So as a CEO you should focus on this aspect also

4) Support to customer queries

All too often the critical information employees need to effectively answer customer questions is buried in long policy documentation or only available by asking the “key go-to people” i.e. lending and managers. In a recent SilverCloud poll, a majority of banks and credit unions reported that 30% or more of key “go-to” staffs daily time is spent supporting frontline staff questions. This inefficient system leaves customers waiting on hold and employees scrambling for information.

Empowering employees with fast access to information and streamlined processes is the first step to improving employee productivity and employee satisfaction.consumers are increasingly more and more self-reliant. We’ve been conditioned by digital services like Netflix, Amazon

Yet, most banks and credit unions digital properties don’t provide great self-service support or how-to answers. Instead, consumers are shuttled down a path to call, head into a branch, or worse yet – give up on what it is they are trying to do or find.

In addition to product information and the ability to execute transactions, consumers want easy access to support related questions, like what is my routing number or how do I transfer money. Providing self-service support content across bank and credit union web, mobile, and online banking platforms improves consumer satisfaction levels, improves customer retention, and increase conversion – particularly when customer service departments are offline.

5. Educate Your Customers on Financial Literacy

The concept of educating potential and current customers on financial literacy is not necessarily new. What is new is how banks and credit unions are choosing to do it today, and whom they’re now targeting.

While financial literacy programs such as Operation HOPE and Junior Achievement, have existed outside of banks for many years, targeting low income and youth populations, it is only recently that banks have recognized the value in bringing educational initiatives in-house. In fact, Operation HOPE’s new model does just that, bringing its financial literacy program into bank branches. And these types of financial literacy programs are targeted to a wide range of customers across the socio-economic spectrum.

For Example : Bank of America has partnered with the educational site Khan Academy to offer its customers financial literacy video tutorials. And Capital One offers its customers and non-profit organizations free multilingual financial education through its partnership with MoneyWise.

6) Become An Advisor, Not Just a Lender, For Small Businesses

By acting as an advisor to small business clients, banks gain an additional revenue stream through fee-based services.

For example, Lead Bank in Garden City, MO has begun offering services such as strategic planning, capital raising and bookkeeping to supplement their traditional loan and deposit offerings.

7) Test and Then Test Again

Testing things such as frequency, messaging and channel of communications; target markets for certain products; and special offers are just some of the very many areas possible for testing and honing.

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