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Cards Customer Service - How to Achieve Excellence

  • Published:
  • 153 Pages
  • Timetric

Synopsis

  • Competition creates the need for perceived differentiation among various card programs
  • Usage of all card types is now more complex and service related than ever before
  • Loyalty programs will increase usage even for small value items
  • The concept of service in the cards business has switched from a reactive response one, to a proactive marketing one

Summary

To any card business the need for providing acceptable customer service is obvious. Such a need is inherent in any organization hoping to be successful on a retail or consumer direct basis. Even manufacturing and supply organizations find that service is a substantial factor in their competitive positioning. In the card business, customer service is particularly important for many reasons, some of which are presented below:

  • The various types of general use cards are not particularly differentiated in the type of usage available.
  • Competition creates the need for perceived differentiation within the various card programs.
  • Customer choices for cards are simply too great in growing competitive markets, many of which have experienced an explosive growth in card issuance over the past five to ten years.
  • Maturing markets find themselves in an environment where growth of one particular card program has to rely on movement of cardholders from other programs in an ever-increasing requirement for growth.
  • The average number of cards being carried by qualified individuals is significant.
  • Usage of all card types is now more complex and more service-related than ever before.
  • New concepts of revenue generation are often exception condition fee based (past due, over-limit, exception handling).
  • Loyalty programs have grown significantly and tend to increase usage even for relatively small value items.
  • Simple arithmetic indicates that medium to large size card issuers have well over 100 percent of the number of existing cardholders contacting the issuer multiple times during a year.

Scope

  • This report provides a methodical, bottom up approach to positioning a cards specific customer service operation
  • It examines the resources, both tangible and intangible, required to operate excellent customer service policies
  • It reveals what service quality metrics should be measured, and how often
  • The report also looks at the use of customer service as a tool to increase profitability

Reasons To Buy

  • Find out why the customer service function must be a central feature of card programs
  • Consider what factors affect how customer service is delivered
  • The report highlights all the customer service tools necessary to provide excellent service
  • It discusses the importance of recruiting and training an effective customer service team
  • The report finishes by considering how customer services will evolve in the future

Table of Contents

1. Overview

  • 1.1. The importance of customer service
  • 1.2. The evolution of customer service to a marketing tool
  • 1.3. Service as a product
  • 1.4. The cost of substandard customer service

2. Market knowledge

  • 2.1. The marketing environment
  • 2.2. Competitive assessment
  • 2.3. Potential suppliers - should you also address technology suppliers etc, not just outsourcing
    • 2.3.1. Specialty services
    • 2.3.2. Full service
    • 2.3.3. Website capability
    • 2.3.4. Comparison of cost/function value
    • 2.3.5. Third party considerations
    • 2.3.6. IVR, telephone key input
    • 2.3.7. Reporting and MIS
    • 2.3.8. Pricing method
  • 2.4. Other factors affecting how customer service is delivered

3. Setting the customer service strategy

  • 3.1. Goals of the customer service organisation
  • 3.2. Customer service strategy development
  • 3.3. Linking customer service to other business goals

4. Selecting the best customer service structure for the credit card business

  • 4.1. The importance of structure
  • 4.2. Dedicated credit card customer service unit
  • 4.3. Integrated customer service unit
  • 4.4. Is centralised customer service right for the organisation
  • 4.5. Outsourced customer service option
  • 4.6. Customer service in the organizational structure

5. Developing effective customer service policies

  • 5.1. Identifying key policy areas
  • 5.2. Developing policies
    • 5.2.1. Examples of credit card policies
    • 5.2.2. Managing policy boundaries
    • 5.2.3. Credit limit increases
    • 5.2.4. Testing policies
    • 5.2.5. Revising policies

6. Customer service is not a silo!

  • 6.1. What other functions need from the customer service organisation
  • 6.2. Service setting priorities for the customer area
    • 6.2.1. Customer service as a support function
    • 6.2.2. Collections
    • 6.2.3. Lost/stolen handling
    • 6.2.4. Returned mail
    • 6.2.5. New accounts application status
  • 6.3. Customer service as a marketing function
  • 6.4. Responding to other business units' problems

7. Setting up the customer service operation

  • 7.1. Physical plant and location
  • 7.2. Resource requirements
  • 7.3. Management structure
  • 7.4. Team structure

8. Hiring and training an effective customer service team

  • 8.1. Hiring is key to success
  • 8.2. Skill sets required
  • 8.3. Testing applicants
  • 8.4. Full-time/part time/special shift
  • 8.5. Setting up training programs - introductory and ongoing
    • 8.5.1. Introductory training
    • 8.5.2. Ongoing training
    • 8.5.3. Development of training aids
  • 8.6. Scripting for phone operations
    • 8.6.1. Controlling the call
  • 8.7. Train the trainer
    • 8.7.1. Involvement of other teams

9. Customer service tools

  • 9.1. Determine which tools are needed to reach goals
  • 9.2. Telephone communication
    • 9.2.1. ACD - Automatic Call Distributor
    • 9.2.2. Incoming trunk groups
    • 9.2.3. Transfer trunks
    • 9.2.4. IVR and telephone automated response
    • 9.2.5. ACD management software (expanded)
    • 9.2.6. Call monitor capability
    • 9.2.7. Queue status indicators
    • 9.2.8. Call status board
    • 9.2.9. Call recording equipment and supporting software
    • 9.2.10. Scheduling system
    • 9.2.11. Workstation content
  • 9.3. Technology
    • 9.3.1. Transaction control at terminal ID and user ID
    • 9.3.2. Approved queues
    • 9.3.3. Imaging technology
    • 9.3.4. Flexible logic with regard to transaction frequency
    • 9.3.5. Combined single chronological communication file
    • 9.3.6. Indications of required action or sales potential highlighting
  • 9.4. Letter library
  • 9.5. Manuals and other support items
  • 9.6. Web-based and net access
    • 9.6.1. Macro communication flow

10. Customer service quality reporting and measurements

  • 10.1. Service quality metrics to be measured and how often
  • 10.2. Key reports to be developed
    • 10.2.1. Frequency
    • 10.2.2. Historical perspective
    • 10.2.3. Content
    • 10.2.4. Volumes
    • 10.2.5. Inventory
    • 10.2.6. Staffing
    • 10.2.7. Capacity utilization
    • 10.2.8. Key standards performance
    • 10.2.9. Events of interest (monthly)
    • 10.2.10. Issues (monthly)
    • 10.2.11. Plans and projections
  • 10.3. Monitoring performance
    • 10.3.1. Telephone term real time
    • 10.3.2. Telephone team, end of day, week, month
    • 10.3.3. Telephone representatives' call monitoring
    • 10.3.4. Correspondence team quality reviews
  • 10.4. Performance reviews
    • 10.4.1. Other department feedback
  • 10.5. Identifying issues and fixing problems
  • 10.6. Listening to the customers

11. Customer service implementation

  • 11.1. Building the best customer service facility possible
    • 11.1.1. Intent
    • 11.1.2. Visualization
    • 11.1.3. Management on the same page
    • 11.1.4. Detailed planning
    • 11.1.5. Contingency planning
    • 11.1.6. Contingency planning
    • 11.1.7. Lead time
    • 11.1.8. Project management
    • 11.1.9. Liberal resources
    • 11.1.10. Project communication
    • 11.1.11. Staff training

12. Customer Feedback

  • 12.1. Establish processes for on-going customer feedback
  • 12.2. Customer satisfaction tools as a survey
  • 12.3. Multiple choice surveys
  • 12.4. What to ask
  • 12.5. Analyzing what the customer is telling you
  • 12.6. Acting on what the customer is telling you
    • 12.6.1. What is causing them to say it
    • 12.6.2. Process review or data review

13. Summary and the future of customer service

  • 13.1. The use of customer service as a marketing tool to increase account profitability
  • 13.2. The future of customer service
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