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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. T
  • 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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