Why Is It So Important to Hold On to Low Cost Deposits [VIDEO]
Low-cost deposits are the ultimate margin advantage. Discover how top 5% performers attract them consistently—and why most banks fail to compete.
In this episode, let’s master the service culture.
Let’s look at four unconventional strategies to propel your customer service from good to “WOW,” creating a service culture so extraordinary that people can’t help but talk about it and refer their friends.
Whether you think your bank’s customer service is already top-notch, struggles with consistency across branches, or suffers from embarrassing service failures, these ingenious techniques will shake things up, catapult your results, and establish an exceptional, sustainable service culture.
Strategy 1: Break the mold. Traditional service training programs can’t singlehandedly spark a customer service revolution. Go beyond standard training and embrace innovative approaches, incorporating organizational development principles and processes that ensure lasting change. Doing it right matters.
Strategy 2: Go all in with a fail-proof, high-impact rollout. Plan a massive, emotionally charged service culture rollout based on rock-solid organizational development principles. Make sure the plan includes mechanisms to not only achieve but also sustain stellar service standards.
Strategy 3: Supercharge phone standards – but choose your systems wisely. When rolling out phone standards, deploy systems that guarantee a jaw-dropping improvement in customer service scores (e.g., skyrocketing from 3.5 to 9.4 or higher within six weeks that is our 30-year median result). If you can’t promise such a meteoric rise, reconsider your rollout strategy to avoid perpetuating a “this too shall pass” culture.
Strategy 4: Zero in on other game-changing moments of truth. With phone service scores soaring, it’s time to tackle other pivotal moments in the customer experience. Apply the same groundbreaking process to elevate these scores, and crucially, keep them consistently sky-high. This will ensure your service reaches an unparalleled level that attracts the crème de la crème of clientele.
In a nutshell, the four unconventional strategies for electrifying your customer service are:
Strategy 1: Break free from traditional training methods.
Strategy 2: Launch a fail-proof, high-impact service culture rollout.
Strategy 3: Supercharge phone standards with the right systems.
Strategy 4: Transform other game-changing moments of truth and maintain stratospheric scores.
In our next episode, I’ll cover how to create a cultural transformation in a day. Hundreds of bank CEOs have said the same exact words, “It’s a miracle!” You won’t want to miss it.
– Roxanne Emmerich
Please watch the video above and share it with your exec team and board.
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