1 / 33

Customer Service and the Financial Professional

C O R P O R A T I O N. Customer Service and the Financial Professional. MPS CPE Day. September 13, 2013. Ice Breaker Opener. The Value of a Penny. The Financial Impact of Customer Service.

glora
Download Presentation

Customer Service and the Financial Professional

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. C O R P O R A T I O N Customer Service and the Financial Professional MPS CPE Day September 13, 2013

  2. Ice Breaker Opener The Value of a Penny

  3. The Financial Impact of Customer Service • Nearly six in ten (58%) consumers will spend more with companies they believe provide excellent service. – American Express Global Service Barometer • Price is not the main reason for customer churn, it is actually due to the overall poor quality of customer service. – Accenture Global Customer Satisfaction Report • Poor service increases operating costs due to additional contacts the customer has with the organization. These include additional labor time (time is more expensive with each move up the ladder) and sometimes compensating the customer.

  4. Important Facts About Customer Service • Percentage of unhappy customers that don’t complain – 1st Financial Training Services • Percentage of those unhappy customers who will leave and never come back – 1st Financial Training Services • Percentage of the buying experience based on how the customer feels they are being treated – McKinsey • Percentage of customers who would pay extra to guarantee better service – Defaqto Research Source: Return on Behavior Magazine – Home for marketing and customer service professionals

  5. What is good customer service? • Anticipate and Exceed Customer Needs • Make Every Impression Count • Communication and Teamwork

  6. Anticipate and Exceed Customer Needs Know your customers and their needs • Know your customers • When we remember them, they’ll remember us • Know their needs • Talk with customers • Question them about their needs • Listen to what they say

  7. Anticipate and Exceed Customer Needs What are your customers’ needs? (could be internal or external customers)

  8. Anticipate and Exceed Customer Needs • VIP = _______ ________ ________

  9. Anticipate and Exceed Customer Needs Meet versus exceed their needs • Meeting customer basic needs • Customers have a choice • What does “exceed” mean? • How can you do it better?

  10. Anticipate and Exceed Customer Needs How can you exceed your customers’ needs?

  11. Anticipate and Exceed Customer Needs Customers have a choice-are they choosing you? • Personal touch – know customer / VIP • Consistent quality – meet and exceed expectations

  12. Harvard Business ReviewSeptember 2013The Truth About Customer Experience Make Every Impression Count How Many Touch Points Does It Take To Hook Up New Customer Utility?

  13. Make Every Impression Count The touch point is any contact or interaction with the customer: in person, via phone, email, service call, sales call, survey, feedback mechanism, product or service delivery, complaint, resolution, etc.

  14. Make Every Impression Count • Customers form their own opinions and customers’ perception is everything • You have the power to influence customers • Make the most of every opportunity because every customer encounter leaves an impression

  15. Make Every Impression Count Be Courteous and Friendly What does courtesy look like? • Smile • Make them feel welcome • Answer their questions • Pleasant voice • Giving them your attention

  16. Make Every Impression Count Have a positive “can-do” attitude • Willing to help customer • Develop alternatives • Be realistic

  17. Make Every Impression Count Be Approachable – aware of body language • Perceived Communication • Verbal (words) • Vocal (voice tone) • Visual (body language) What kind of message are you sending?

  18. Make Every Impression Count People return because of people (not just a product) • Be courteous • Be friendly • Have a “can-do” attitude • Be approachable

  19. Communication and Teamwork To the customer, everyone is the company • Working together • Communicating well • Delivering best image for organization

  20. Communication and Teamwork What does Team mean? • T = • E = • A = • M =

  21. Communication and Teamwork Characteristics of good teamwork

  22. Communication and Teamwork Good team communication • Improves efficiency • Increases productivity • Prevents miscommunication

  23. Communication With Team Players To the customer, everyone is the company • Work as a TEAM • Understand each job • Good communication delivers results

  24. Good Customer Service • Anticipate and Exceed Customer Needs • Make Every Impression Count • Communication and Teamwork What are the consequences of not providing good customer service?

  25. Why Companies Lose Customers Return on Behavior Magazine – Home for marketing and customer service professional

  26. Why Companies Lose Customers • A dissatisfied customer will tell between 9-15 people about their experience. Around 13% of dissatisfied customers tell more than 20 people. – White House Office of Consumer Affairs • It takes 12 positive experiences to make up for one unresolved negative experience. – “Understanding Customers” by Ruby Newell-Legner • Happy customers who get their issue resolved tell about 4-6 people about their experience. – White House Office of Consumer Affairs • If you fix it fast, 96% will stick with you. – Becky Saunders, former Nordstrom Exec and author of Fabled Service Return on Behavior Magazine Home for marketing and customer service professional

  27. Ways to Handle Problems How do you handle customer complaints?

  28. Ways to Handle Problems

  29. Ways to Handle Problems • Develop and outline the “Official Policy” on how various types of problems are handled. • Publish these policies in a way that it is quick and easy for everyone to access these policies. • Develop and implement training that outlines the process for following these policies. • Reward people for following the policies, write up when they don’t. Make sure the policies show people how to fix it, fix it fast, fix it right, and follow up.

  30. Ways to Handle Problems Companies lose customers when employees don’t care • Unhappy customers tell others • Always be professional and customer focused • Fix problems quickly • Set up policies to guide the team

  31. Culture of Outstanding Service • Hire people with service focus • Train so every team member knows what good service is, how to deliver it, and their authority to deliver it • Allow room for people to make mistakes • Eliminate barriers to complaints and comments • Measure and track complaints “If you can’t measure it, you can’t manage it.”

  32. Culture of Outstanding Service Everyone is responsible for service: accounting, finance, warehouse, sales, delivery, customer service, marketing, receptionist, CEO

  33. Thank You

More Related