Friday, December 10, 2010

Banks & Customer Service

Some people might suggest that the words “banks” and “customer service” don’t belong in the same sentence.

The best marketing that any organization can invest in is customer service. So in difficult times if you have money to spend you should first allocate sufficient resources to customer service. Right?

Yet, it appears that Canadian banks are spending their money on remodeling and advertising instead of customer service.

For instance, within the past few months at least four of the big five Canadian banks have made major remodeling changes around my neighbourhood. RBC completely reconstructed the exterior of their building. It looks like a different building. I think that they chopped a story off. I’m not sure how that helps customer service. TD moved across the road into a completely new building. CIBC opened a new branch in a mall after months of extensive reconstruction. BMO moved across the road into a new building. Yes, it’s a nice looking building and the interior looks nice.

But what does any of that do for customer service?

The TD branch where I do most of my banking has remodeled the interior at least three times in the past decade. Business must be good. I didn’t notice an improvement in customer service.

What have they done to improve customer service?

Have they trained staff?
Have they explained policies?
Have they enhanced transparency to customers?
Have they improved communication with staff?

George Torok
Marketing Speaker


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