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!

Chris Brogan writes about how companies are jumping on the Social Media bandwagon as a customer service tool, while their existing customer infrastructure is in major need of a transformation!

I’m sure you’ve seen the news stories on the phenomenal growth of Twitter and Facebook as company communication tools. If you haven’t been noticing, take 4 minutes and 26 seconds to watch this:


[youtube]http://www.youtube.com/watch?v=lFZ0z5Fm-Ng[/youtube]

So companies are going to the social media space to reach customers, and rightfully so.

But in the rush to meet customers where they’re at, those same companies are forgetting that 91% of US households have cell phones (Source: CTIA December 2009), and I have never walked into a business that didn’t have a landline of some sort.

The telephone as a tool to connect to customers may be the most overlooked “social media” tool there is.

We talk to companies almost every day who have no idea what their customer hears when they call. Companies that have spent thousands (and sometimes hundreds of thousands) of dollars on marketing and advertising, without considering how the Caller Experience they provide will impact that potential sale.

So while on one hand, the Social Media is working hard to deliver customer satisfaction, at the same time, the Caller Experience is fighting against their efforts!

I’m all for Social Media. It’s certainly a very valid, and current way to reach customers. But it would be a much more effective tool if customers weren’t turning to it as a last resort, out of frustration from the Caller Experience!

Fix the leak in your cup before filling it up. Your customers will thank you.

It’s hard to read the label from inside the bottle. “Huh?” you say?

See what you think is your “inside reality”…the customer experience inside your doors, is only what your customer says it is. Nothing more. And thankfully, nothing less.

That means you have the opportunity to surprise and delight your customer with the unexpected service.

Recently I ended up owning two identical 32gb 3G model iPads. At a time when iPads were more scarce than a hippy at a classical music concert. You just couldn’t walk into an Apple store and walk out with an iPad!

Well, when I found out I wouldn’t have to pay a restocking fee to Apple to return one of them, I decided to send one back. It was only AFTER I decided to do that, when I found out that Apple not only would not charge a restocking fee, but they would send me a prepaid return shipping label, and the return wouldn’t cost me a thing. As in free. I was delighted.

And the reason I was delighted (aside from saving the money, or course!) is because it was unexpected. Nowhere does Apple advertise “Free return shipping…you can send it back, and not pay a dime!” It’s just something they do, that makes me like doing business with them.

So what do you do to delight your customers? What are the little…or big…things that you could do to surprise and delight your existing customers. Strengthening the bond with your existing customer base is one of the best ways to increase your revenue.

So why is it that it often goes the other way? You woo a customer in with fantastic ads, and heartfelt promises, then once they’re “in the fold” they are no longer on the “To Be Delighted” list?

So here’s a way to have some fun, and maybe discover some ways to delight more customers.

1. Get out of the office…business…or whatever work environment you are in. That’s right, go ahead.

2. Grab a cup of your favorite beverage, and contemplate your business category.

• Are there any preconceived notions or misconceptions that prevent more people from coming to your business, or buying what you sell?
• What mistakes do some competitors make? That is, how could they create a more fulfilling customer experience?

3. Now, call your business, and ask for directions to your store. Pay attention to the what it sounds like…how the phone is answered…what you hear as a customer.

4. Walk into your business, and buy something. Was it easy? Did you enjoy the experience? What was the environment like?

Sometimes it takes getting out of the familiar to see things through another perspective. And even then it’s hard!

Comment below on ways you can surprise and delight your customer!

If you need some help, give our Caller Experience Evaluation service a try. You might be surprised at the view from outside the bottle!