Is Customer Experience being compromised?
In the US, financial services firms have been highlighted as lagging behind other sectors when it comes to customer service, writes USbanker in the article In doing more with less, is service getting lost?. This was based on the finding of Forrester Research's annual customer experience index, in which only 3 financial services firms were featured in the top 20, whilst banks and credit card issuers were some of the lowest ranked from a total of 133 companies. These statistics are starkly inconsistent with our perception of US companies giving exemplary customer service.
Among the methods suggested to maintain effective customer services was to focus on the volume and training of frontline staff, even when under pressure to reduce costs. Here in the UK, call centre waiting times have long been the yard stick used to measure customer service, and despite the increase in online banking, branch or telecoms remain the main channel by which customers make initial contact with financial services companies. It's critical that staff rapidly access the right information, and firms should also strive to join up their various channels, in order to present a coordinated front to the customer. Bluerock are specialists in aligning the whole of the business, from strategy to the 'One Metre of Space' (OMoS), where the firm interacts with the customer, maximising the effectiveness of customer services and much more besides.
In the current climate, cuts to customer service across the business may well appeal, but the benefits of maintaining a customer-first approach now will be measured in the long-term.
For further information please speak to Neil Whittaker:
020 7213 9760