Customer experience makeover: How banks can make you love themby
Customer experience guru Shaun Smith delivers five tips that banks - and indeed all brands - can learn from the way Metro Bank is changing customer perceptions of financial institutions.
- ‘Keep the main thing the main thing’. You have to have a crystal clear vision of your purpose and business model and drive this through all of your activities ensuring that everything else is aligned with it.
- ‘Demonstrate zealous leadership’ Leaders have to ‘walk the talk’ if you are to instill the culture. For example, when I was interviewing Anthony I asked him what the AMAZE acronym stood for and the extent to which it was part of the culture. His answer was to walk me across the building and into a training class for new service people. He asked them to tell me what AMAZE stood for and congratulated them warmly when they did so.
- ‘Dramatise the customer experience’. Metro Bank providing dog bowls in the branches is not the reason that people bank there, but it is a hallmark of the brand and a manifestation of their intention to ‘provide unparalleled levels of service and convenience to our customers’. Putting a human face (or perhaps that should be ‘canine’!) on banking is another.
- ‘Be in pursuit of WOW’. This is about innovation that surprises and delights customers. Metro Bank provides a ‘Magic Money Machine’ in each store for the convenience of customers and non-customers alike. You dump all your odd coins into it and it magically sorts them and converts the value into bank notes or credits your account. You can even play an interactive game to guess the value and win a prize.
- ‘Create a cult’. Your people are you brand and so it follows that how you recruit them, how you train them and how you remunerate them all have to be consistent with your business model. As Antony said, ‘… if you incentivise people to give great service that’s what they do’. The stronger and more aligned the culture, the more likely it becomes that you will be able to sustain your business model as you grow.
Neil Davey is the managing editor of MyCustomer. An experienced business journalist and editor, Neil has worked on a variety of newspapers, magazines and websites over the past 20 years, including Internet Works, CXO magazine and Business Management. He joined MyCustomer in 2007.