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3 ways to keep the focus on the customer

One customer's bad experience and three common-sense ways to ensure that your customers will never have one remotely like it.

August 14, 2014 by Jim Ghiglieri — Senior Vice President, Corporate Communications, SHAZAM

No matter how much technology continues to evolve and improve, there remains no substitute for quality customer service.

In anAmerican Banker commentary, Christine Nelson, senior marketing and media specialist with Ingenuity Marketing Group, reiterated this point as she shared a negative experience she recently had with her financial institution. Nelson also highlighted a few key principles FIs must follow if they truly want to call themselves customer-focused.

Nelson wrote about receiving a letter from her FI informing her that her home equity line of credit had been reduced by 50 percent following a "random audit."

Unfortunately, when Nelson contacted her mortgage officer, the loan officer was unable to help her.

Obviously, this was not Nelson's desired outcome. She blamed this error on the FI using old data to update to customer accounts, and then following up with a form letter encouraging the customer to contact the FI with questions. As Nelson pointed out, this is an archaic and doomed business model.

In a recent blog post, I wrote about the importance of the Golden Rule, and treating customers the way you wish to be treated. Below are three practices FIs should employ as part of a customer-centric approach.

Do your homework. Take a look at other FIs' websites through a customer's eyes. Determine which offerings your competitors might be lacking, and make sure you're providing them.

Set yourself apart. Offering valuable financial education is a great way to stand out from other FIs. Use your website and social media outlets to give your customers useful financial guidance to help them strengthen their financial position and future.

Positioning your FI as a financial resource and an institution that truly cares about customers' financial health will people see the value in banking with you.

Keep it personal. While it's important to remain competitive by offering online and mobile conveniences, nothing trumps quality customer service. Making customers feel welcome, appreciated, and valued should always be a top priority for community FIs.

In today's competitive market, one way community banks can stand out is by adhering to the old adage "the customer is always right," and adopting a customer-focused attitude and banking atmosphere.

Proving as often as you can that you have the customers' financial best interest at heart can place you head and shoulders above the competition.

photo courtesy bart everson | flickr

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