Tag: customer service

10 Ideas For Our Bank We Got From Wegmans

Learning from non-banks
LEARNING FROM NON-BANKS

Last week we tagged along with The Bank of Charles Town (BCT) crew who, like us, are heavy believers in “cultural tours.” BCT used a series of these tours to kick off their strategic planning season with the purpose of grabbing ideas that could spark creative thinking. Almost every time we debate if it makes sense to put the crush of our To-Do List on hold for a day and spend time at an unrelated industry. Fortunately, every time we come back from one of these tours, we have a list of tested ideas that end up saving us countless hours.

Positioning The Four Attributes of Bank Service To Create Value

Superior Bank Service
Superior Bank Service

In a recent article, we highlighted why community banks should differentiate themselves from competitors by offering better service, and we discussed the five crucial steps that banks must take to improve service.  In that same blog, we identified four attributes that most community banks possess that can be used to differentiate their brand against competitors in the market.  In this blog, we explain how community banks can position these four attributes to provide superior service that most borrowers would find valuable. 

 

Four Attributes And Five Steps For A Service Brand In Banking

Improving Customer Service -Picture of woman walking
IMPROVING CUSTOMER SERVICE

Most community banks believe that they can differentiate themselves from competitors by offering better service.  However, the empirical data shows that the majority of banks fall into the trap of competing on price and credit structure, and neither of these competitive attributes is aligned with long-term bank success.  Why is there such a disconnect between many bankers stated objective of competing on service and the reality of competing on price or credit structure?  One reason is that while management and employees would like to offer a better level of service to their customers, few b

Are You Running Up To Your Banking Customer?

Exceptional Customer Service - Picture of a car repair shop

Les Schwab Tires is still going strong but back in the day it made a name for itself with a signature move - Whenever a prospective customer would pull in the driveway, a member of the staff would run up to the car with a big smile on their face. The energy often startled the driver who wanted to know what was going on. The employee would then explain how important the customer was and that running to the car was just one of the many ways the Company shows their dedication to service.

 

Defining And Executing On Your Bank’s Customer Service Promise

Improving Bank Customer Service

Almost all community bankers believe that they compete on the level of service that they provide to their customers – and this much is true.  However, many community bankers believe that they provide an above average level of service – and that is mathematically impossible since some banks must be average and some below average.  If you believe that your bank differentiates itself on the level of service that employees offer customers, then you must understand which

How Using The 10-5 Rule In Banking Sets A Cultural Tone

Recently, at our annual Bank Management Conference, the Ritz-Carlton Leadership Team came in to help bankers improve their customer experience. As you might guess, most of their suggestions were around hiring, training, accountability and setting high standards. In this article, we want to highlight one tactic, called the “10-5 Rule” that many hospitality, healthcare companies, and banks employ to improve customer service.

 

The 10-5 Rule Explained

 

How Crowdsourcing Bank Customer Service Can Help

Leveraging Tech For Bank Performance

If you are looking to engage your customers, increase satisfaction and reduce staffing, we might have an idea for you – create a crowdsourced layer of customer service experts that are your current customers. These “Expert Customers” can help your bank answer questions, speed adoption of your products and assist with relationship management all for a fraction of the cost of what you pay now. In this article, we explore what this looks like and how to pull it off.

 

Recruiting Customer Experts

The First Rule of Delivering Fanatical Customer Service in Banking

We all want to deliver great customer service in banking. However, the difference between the banks that talk about great service and those banks that deliver fanatical or “Wow” service often comes down to two important facets of bank management – definition and expectations. If you can quickly point to a document or plaque that defines those two dimensions of customer service for your bank then this article isn’t for you.

How Can We, Really I, Help You?

Better Bank Customer Service

While there is no “I” in team, there should be an “I” when it comes to helping bank customers. “How can we help you?” is a commonly used sentence and some banks even train to use the pronoun “we” instead of “I.” It turns out this might be a mistake as recent data shows bankers should be saying “I” instead of “we.” In this article, we look at the research to see how we might improve bank customer service through use of our pronouns.

 

“I” Before “We”

 

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