In a sector where it can be difficult to differentiate between suppliers, delivering superior customer service is increasingly vital for utilities. And as a regulated industry, it is closely watched by government and consumer groups, facing large fines for poor customer service and misselling. Last year the UK government acted to simplify tariffs and make it easier for customers to switch...
In an ever more competitive business world, the customer experience that companies offer can be a key differentiator in winning and retaining consumer loyalty. But how can you quantify this in financial terms?
Despite the rise of digital channels and the growth of multichannel customer service, the telephone remains vital for businesses and consumers. In fact, while customers are certainly increasing their use of online self-service resources, web chat and social, research from Forrester indicates that 73% still use the phone for customer service. However, one of the biggest issues...
Employees are at the frontline of delivering the right experience to customers. No matter how strong your processes are, customer service comes down to the people who provide it. Staff who fail to show empathy or, even worse, are rude or sound bored risk damaging your brand and hitting customer loyalty. In comparison, agents who go the extra mile, being helpful...
Customers are becoming ever-more demanding, across every channel, while competition has never been fiercer. All of these factors mean that the customer experience is now central to winning and retaining business for organizations of all sizes. Customer service is now everyone’s job, from the CEO downwards. But who should be in overall charge of ensuring that the organization...
One of the biggest complaints consumers have when they raise an issue with a company is that customer service agents don’t show sufficient understanding or sympathy for their plight. In contrast, when agents apologize and demonstrate that they realize that there is a problem that is causing inconvenience, customer satisfaction rises. This is even the case if the issue can’t be solved...
Across the financial services industry, providing a tailored, high quality customer experience is becoming vital for success. Whether a retail bank, insurer or provider of investment products such as pensions, organizations have to make the customer journey clear, seamless and easy to understand if they want to win and retain clients.The old model of a customer signing up to a bank for life or aut...
Social media has significantly changed the customer service landscape, rebalancing the relationship between consumers and brands and providing a public forum for complaints to be made.
The reputation of banks with consumers has suffered a dramatic fall in recent years. Branch closures, misselling cases such as those around PPI and, of course, the part that banks played in the financial crisis have all contributed to low consumer trust in the sector. At the same time the UK government has made it much easier for consumers to switch providers, attracting new entrants to the m...
In today’s multichannel world, providing service through the channels that customers want has never been more vital. Obviously you need to deliver a consistent experience across every channel, but with resources tight, how you split agent time can be a juggling act.So it is important to understand what channels your customers are likely to use most. There are a number of factors to take into...