Being “exceptional” in a world with financial institutions on every street corner all offering the same products and services is daunting, if not elusive. Every bank and credit union thinks it’s a little different from the rest of the pack, but it’s the customer’s view that counts.
Do you think your products make you unique? They might be a little different, but most consumers can’t tell which product or service is better, unless it is based soley on the interest rate. You must offer competitive products and services, but standing out in the crowd has more to do with customer service than it does products. It really doesn’t matter how great your products are if you can’t provide extraordinary service.
Why do I keep emphasizing service? Because the majority of the decisions that we make as human beings are based more on emotion than any other factor. That includes where we do our banking, the restaurants we frequent, even the dry cleaners we use. Given choices, we do business with the establishments that make us feel good, that give us great service all the time. Even one bad experience with one person can cause us to switch.
It’s your level of customer service that will set you apart from the competition. Outstanding customer service leads to outstanding sales, and better customer retention.
I have made several calls over the past couple of weeks to clients and prospects to introduce Fans for Life™ I am playing telephone tag with one client and the last time I returned his call the receptionist asked if I wanted his voice mail since he was not at his desk. I explained that we were playing phone tag and I really didn’t want to leave another message, if she could just let him know I called and I would try again, I’d appreciate it. Her response to me was “If I see him I’ll let him know, but I can’t guarantee anything.” Holy cow, I was stunned. She didn’t know if I was a customer, a family member, an examiner, or someone else that might have been important. Not that it matters, because every call coming into a bank or credit union is an opportunity to impress. I wasn’t. This is a clear illustration of why the new Fans for Life program is so important for most community-oriented financial institutions.
