Millennials are not the only group of consumers expecting changes in customer service related to new advances and innovations in technology. Price and product/service availability used to give companies the big competitive advantage but not any longer. Customer experience management has become the most important business strategy, and with solid implementation will help companies to take the lead, keeping existing customers and gaining new ones.
According to Capgemini’s World Retail Banking Report 2015, “customers aged between 15 and 35 were more likely to move, possibly because of an increase in alternatives, an improved switching process, and younger customers’ higher expectations from digital services”. The report further indicates that compared to last year, there is a rise in customers who are willing to switch to another bank, and a drop in customers who would recommend their main bank or buy additional products from it.
How to rise above these trends and ensure happy customer
So how to rise above these trends and ensure that your Financial Institution succeeds in both having happy customers and strong profits?
The ultimate moment to capture a customer’s opinion about their service experience is at the point of interaction. The challenge is finding the right system to measure, monitor, and track this KPI of customer satisfaction and provide your organization with data that is both valuable and insightful, yet easy to collect.
The solution: The HappyOrNot Customer Satisfaction Improvement Service
HappyOrNot makes it extremely easy to get immediate, on-the-spot customer feedback via the feedback collecting Smiley Terminals. The service measures daily performance via an intelligent cloud-based Reporting Service that pinpoints fluctuations in service performance, enabling quick reaction time to implementing corrective measures in times of service decline (hourly, daily, weekly, or monthly).
The HappyOrNot kiosks enable financial institutions, for example, credit unions, to obtain immediate member feedback at the point of experience and monitor daily branch performance. The kiosks are used by credit unions and credit union associations across North America, including Langley FCU, Park View FCU, USAlliance FCU, and Duke University FCU. HappyOrNot is used by over 1,500 leading retail and service chain organizations across 60 countries.
The HappyOrNot kiosks for credit unions and banks throughout North America are provided and managed by DoublePort LLC, an Official HappyOrNot Partner specializing in the sales and deployment of the kiosks to this industry.
Learn more about how HappyOrNot helps organizations in the Service industry to improve their customer satisfaction and service performance.