Archive for November, 2010

Decreasing customer “pain points” at banks

In a Ipsos-Insight consumer survey of banks, less than half of customers surveyed fit into the “Loyal” or “Diehard” categories. The other 56% were split between”Switchers” (31%) and “Movers” (25%).

And where your ATM’s are located is just one of the reasons customers might leave your bank.

Decreasing “penalty pain” is an effective way to keep Switchers and Movers, and even your Loyal and Diehard customers as well.

In an article from Neuromarketing, Roger Dooley talks about one of the negative “drips” of dissatisfaction when banks process checks in reverse order of magnitude, increasing the chance that more checks will be overdrawn.

Roger writes:

“Businesses should weigh the short-term boost in profits from penalizing otherwise good customers against the pain these penalties will cause and the damage to their brand in the minds of those customers.”

While “Switchers” are ready to move on to a new bank that offers them fewer fees, and higher interest rates, even “Loyalists” will consider moving when they feel mistreated.

So what are those pain points?

  • Unclear fees
  • “Free” services that don’t remain free
  • Negative interactions with tellers
  • Navigating confusing Auto-Attendant greetings
  • Being placed On-Hold to just silence, or “beeps”
  • Not enough ATMs or Branch locations

We’re living in a society that values genuineness and authenticity. Clearly stating when and what you intend to charge for is a lot better then leaving a customer feeling like they’ve been “had”.

The next time you consider raising fees, or push that “Hold” button, understand that you’re giving your customer one more “drip” into an intravenous artery of unhappiness. How many “drips” will it take to make him look for another bank?

Identifying and removing as many “pain points” as possible is a great strategy for moving “Switchers” to “Diehards”!

Would you like an outside the box perspective on YOUR Caller Experience? We’d love to help you!

Welcome a new On-Hold messaging client!

We are very excited to be transforming the caller experience for Virginia Veterinary Specialists in Charlottesville, Virginia with a new Custom On-Hold message! Virginia Veterinary Specialists is the first referral veterinary specialist in Central Virginia.

Virginia Veterinary Specialists provides a very specialized  level of care for pets, while still maintaining a patient’s relationship with their primary care veterinarian. Virgina Veterinary Specialists provides complex veterinary orthopedic, neurologic and soft tissue procedures, as well as ultrasound, chemotherapy, endoscopy, and more.

Dr. Jason Wheeler and Dr. Carrie Miller are delighted to be able to bring their passion for specialty care to the Charlottesville area. Dr. Jason Wheeler has appeared on several episodes of the popular Animal Planet’s TV show, Emergency Vets, and became Board Certified in 2005. Dr. Carrie Miller completed her internship and residency at Wheat Ridge Veterinary Specialists in Wheat Ridge CO, and was board certified in 2003.

The new On-Hold messages works to introduce the practice, as well as Dr Miller and Dr Wheeler, to the area, and seeks to strengthen the referral relationship with primary veterinary care providers. Prior to working with Prosound, callers to Virginia Veterinary Specialist heard “beep-beep” whenever they were placed On-Hold.

Prosound has used the customer’s time On-Hold to extend the warm, caring experience of Virginia Veterinary Specialists to each caller.

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Ready to transform your company’s Caller Experience?

Why Jack the mascot dog has his own On-Hold message

I was recently placed On-Hold at a financial institution, and heard this On-Hold message:

On-Hold Message

Now, I was struck by a couple of things, and since Prosound did not produce this On-Hold message, I’m going to break it down for you here.

First of all, it’s not just a “thank you for holding” message. There’s more information in there that does let me know I’ve called a financial institution.

It has holiday closings listed, which is fantastic! (It’s always good to communicate closings and hours changes with your customers as much as possible!)

There are tips for online shopping security, as well as shopping in the “real” world.

And there’s even a reminder to change your clock back to Standard Time on Sunday, November 7th.

So, what’s missing?

Nowhere…not once…ever…is the name of the financial institution listed. Go back and listen again, if you didn’t catch it. It’s alright, I’ll wait.

“So what’s the big deal?” you might ask?

Here’s the thing:

That strategy is quite brilliant, actually. For the On-Hold message production company. They have created a set of messages that is recorded once, and sold over and over again to financial institutions nationwide.

The strategy is not so brilliant for the bank that’s using it, and here’s why.

It doesn’t reinforce the name of the bank to each and every customer.

It doesn’t help strengthen their other marketing and branding efforts outside the bank, like it could if it was part of those efforts.

It lacks a distinct relevance that only a unique On-Hold message can provide. Relevance is created by connecting with the perspective of a listener. The more specific you can be in your messaging, the more believable your message will be.

Every business has a story to tell

Telling the story that is uniquely yours will create stronger relationships with your clients and prospects, making it a much harder choice for them to leave you, or to choose your competition.

I admit, the uncovery process to that unique story is more difficult then simply selecting a few pseudo-customized-for-your-industry messages. But your customers and callers will thank you.

Keep these things in mind as you approve your ad copy…whatever medium it’s in:

(thank you Roy Williams)

Meet Jack

First National Bank of the South – On-Hold sample

That’s an example of on On-Hold message that is unique, customized for the specific company, and unusable at any other bank.

It connects deeply with listeners, because it’s a continuation of the branding that this bank is doing on their website.

And it’s relevant to the caller because it invites them into the story (“meet Jack”).

Is it time to customize YOUR On-Hold message?