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How Are You Measuring Service at Your Branch?

November 12, 2010

Philippe Asselin VP of FMSI

The below is a guest blog article from Philippe Asselin – VP at FMSI

Hello!

I hope all is well where you are!

Service.  Everyone talks about it.  “Service has always been a priority at our financial institution.”  How do you substantiate your claim?  Many will say we measure ours by the number of complaints, or a random member service surveys.  Is that the best we can do?

Here are some problems with using complaints as a measuring stick: more people will say nothing to you about bad service, and then tell ten or more others about their experience, doing more damage to your brand than hundreds of thousands of dollars’ worth of marketing campaigns can fix.  When surveys are deployed, they must be done with the whole population or you are not going to get the whole story.  Your unhappy customers have probably gone to another bank or credit union, so surveying just your customers or members will only give you the “rose colored glasses” report.  Even if you survey the entire population, most of your unsatisfied customers that have taken their business elsewhere could care less about your survey.   

This is just the beginning.  The biggest problem with reactive research is that they look at what has happened in the past.  It’s like packing a tourniquet in your backpack instead of getting the real time weather forecast on your Mount Everest expedition.  You need real-time data, and forecasting abilities to stop problems before they happen, instead of attempting to evaluate them months or years afterwards.

At FMSI, we have been equipping financial institutions with proactive solutions successfully for over 20 years.  Please reply with comments on how you are currently handling service measurements in your branch.  I would love to hear from you. 

FMSI Real-Time Branch Dashboard

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