What does Customer Service look like?

We were asked to write an article for the Financial Managers Society discussing the issue of customer service and the role it plays in today’s financial services industry. You can read the article here.

The article emphasizes the importance of focusing less on traditional definitions of “customer service” – which often times include nice, friendly and accurate service - and clearly defining what customer service means at your institution. Customer service is such an overused term in the industry that it has lost its meaning to your customers as a result; so, you need to make it mean something to them. And, while you’re at it – use this exercise as an opportunity to create points that differentiate you from your competition.

What does customer service look like at your institution?

It could be:

• That no one ever has to wait in-line at your branches because they are greeted and directed to the appropriate office or to a comfortable waiting area and asked if they would like a cup of coffee and a magazine.
• That your personal bankers routinely make visits to your small business customers so they don’t have to leave their place of business to conduct their banking.
• That your greeter knows and addresses each of your customers by first name every time they walk into your branch, and that the greeter can anticipate the reason why repeat customers have stopped in.

It could be anything; but, clearly defining what it means at your institution and what it means to your customers will have a far greater impact than assuming that they know what you mean when you say that you provide “outstanding customer service.”