To jumpstart growth in this new business reality, financial businesses need only look to their own customers. Customer service has emerged as a key differentiator between companies, a top consideration for customers and a profit-generating force in its own right. Some 61% of customers globally say they now have higher customer service
standards after this past year’s crisis. And an equal number would now defect to a competitor after just one bad customer experience.
Delivering exceptional customer service can mean the difference between standing out or falling behind, but financial businesses have to move quickly to avoid common traps that may derail their growth plans:
Customer service isn’t wowing customers
Although 64% of financial services companies gave themselves high marks for the quality of their service, what
they’re offering is lagging behind what customers expect. In fact, 54% of consumers report that customer service feels like an afterthought for most of the businesses they buy from. That’s a problem for those looking to impress customers and keep them coming back.