BankersHub.com October, 2018 Newsletter Page - 1 ARE YOUR CUSTOMER CARE METRICS CUSTOMER-CENTRIC? By Lynn Hunsaker ABOUT THE AUTHOR(S) Lynn Hunsaker is President of Marketing Operations Partners, which transforms Marketing into a value center through accountability, alignment and agility. Lynn has managed initiatives in strategic planning, product management, market research, alliances, acquisitions, process improvement, metrics, incentive programs, change management, and customer experience management. Lynn earned her AAS degree in Psychology and BS degree in Business Management from BYU and her MBA degree from Vanderbilt University. Email: [email protected]ABOUT BankersHub BankersHub was founded in 2012 by Michael Beird and Erin Handel, 2 Financial Services professionals dedicated to educating and informing banks, credit unions, solution providers and consultants in the U.S. and worldwide. BankersHub delivers best practices, research insights, opinions, economic trends and consumer views through online web education, virtual events and conferences, live streaming activities, custom training and content development. Newsletter Article October, 2018 Introduction Customer care metrics are a barometer of performance across a variety of customer interactions such as chat, text messages, email, social media and communities. Traditionally, these metrics have been cost-center oriented, intended to drive efficiency and productivity. CRM put another dimension on customer care metrics with profit-center orientation, intended to up-sell and cross-sell, increasing share of customers' budget. Both of these orientations tend to be company-serving rather than customer-focused. First contact resolution (FCR) was groundbreaking in the realization that customers' judgment of performance is the ideal orientation. Likelihood to recommend and satisfaction with the customer care transaction are requested feedback from nearly every interaction these days, aimed at keeping a pulse on customers' judgment of performance. However, we may still need to re-think customer care metrics in use today if we want to adopt the ideal customers' judgment orientation. It boils down to this: 1. Customer experience is about the customers' realities versus their expectations 2. Customer experience is cumulative (holistic, history-informed, future-implied) Let's take a look at customer care metrics using these two fundamental truths. Oct 02 – New FASB Changes – Revenue Recognition Oct 03 – Regulatory Expectations on Credit Process Oct 5/12/19/26 – 4 Part FDIC Call Report Preparation Oct 8-10 – Ascend 2018 – 13 Retirement Webinars Oct 10 – ACH/RDC Regulatory Credit Training Oct 11 – Fundamentals of ACH Annual Audit Oct 11 – Construction Lending Fundamentals Oct 15 – Handling Debit Card Disputes Oct 16 – FinTech and Your Legacy Systems Oct 17 – Cash Management Sales and Operations Oct 18 – Wipfli Community Banking Forum (5 Webinars) Oct 18 – FFIEC Retail Payments Procedures Booklet Oct 22 – Bitcoin, Cryptocurrencies and Blockchain 101
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Are Your Customer Care Metrics Customer-Centric? · exceed their expectations. To be customer-centric, add these metrics: Customer acknowledging that a provided solution is successful,
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BankersHub.com October, 2018 Newsletter Page - 1
a
October, 2018
ARE YOUR CUSTOMER CARE METRICS CUSTOMER-CENTRIC?
By Lynn Hunsaker
I
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Huo
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2
Lfundamental truths.
ABOUT THE AUTHOR(S)
Lynn Hunsaker is President of Marketing Operations
Partners, which transforms Marketing into a value center
through accountability, alignment and agility. Lynn has
managed initiatives in strategic planning, product
BankersHub was founded in 2012 by Michael Beird and
Erin Handel, 2 Financial Services professionalsdedicated to educating and informing banks, creditunions, solution providers and consultants in the U.S. and
worldwide. BankersHub delivers best practices, researchinsights, opinions, economic trends and consumer viewsthrough online web education, virtual events and
conferences, live streaming activities, custom training
Oct 02 – New FASB Changes – Revenue Recognition
Oct 03 – Regulatory Expectations on Credit Process
Oct 5/12/19/26 – 4 Part FDIC Call Report Preparation
Oct 8-10 – Ascend 2018 – 13 Retirement Webinars
Oct 10 – ACH/RDC Regulatory Credit Training
Oct 11 – Fundamentals of ACH Annual Audit
Oct 11 – Construction Lending Fundamentals
Oct 15 – Handling Debit Card Disputes
Oct 16 – FinTech and Your Legacy Systems
Oct 17 – Cash Management Sales and Operations
Oct 18 – Wipfli Community Banking Forum (5 Webinars
Oct 18 – FFIEC Retail Payments Procedures Booklet
Oct 22 – Bitcoin, Cryptocurrencies and Blockchain 101
nd content development.
Newsletter Article
ntroduction
ustomer care metrics are a barometer of performance across a ariety of customer interactions such as chat, text messages, mail, social media and communities. Traditionally, these metrics ave been cost-center oriented, intended to drive efficiency and roductivity. CRM put another dimension on customer care metricsith profit-center orientation, intended to up-sell and cross-sell,
ncreasing share of customers' budget. Both of these orientations end to be company-serving rather than customer-focused.
irst contact resolution (FCR) was groundbreaking in the ealization that customers' judgment of performance is the ideal rientation. Likelihood to recommend and satisfaction with the ustomer care transaction are requested feedback from nearly very interaction these days, aimed at keeping a pulse on ustomers' judgment of performance.
owever, we may still need to re-think customer care metrics in se today if we want to adopt the ideal customers' judgment rientation. It boils down to this:
. Customer experience is about the customers' realities versus their expectations
. Customer experience is cumulative (holistic, history-informed, future-implied)
et's take a look at customer care metrics using these two