having worked for credit card industry in Indonesia for a couple years (and now have graduated :)), I have an imaginary credit card which I think will delight its fans (or its future loyal customers)
for any bank (or banker) who wants to REALLY stand out from the competition, apply this (no charge!) and please be hurry to implement it.
the idea is very simple but will totally WOW customers (not all customers, but the people who value it)
but some disclaimer first:
when I say SIMPLE, it does NOT replacement for easy or cheap. In fact, this simple idea might be quite difficult and expensive in the short run. And, this is not my original idea*
So this is the idea:
1. Radically change the Call Center concept:
– In the opposite direction to all Credit Card Call Center to increase the IVR effectiveness (for the one who don’t know, IVR is the automated machine that answer each call and ask you to press 1, 2 etc), you should put real people to answer Customers’ calls. In the emerging of chatting/messaging platform, put several Black Berry Messanger PINs and yahoo chats/gmail talks or whatever availables. And use twitter too…
The idea is to have CONVERSATION with your customers and NOT avoid talking to your customers
– Abandon all scripts...no scripted answer.
but it means you should train your people really good and find the people who fits with your company’s values and personality (anyway, I imagine this company has a fresh, no nonsense and fun personality)
Some of you will tell me this is very expensive. My answer is yes, this is expensive, but not very expensive. You just need to calculate the amount you have spent for advertising (print ads, billboard, radio) and use 50% of that budget to add your call center capacity as well as finding the right people.
In Indonesia, this is DOABLE
2. Unlike common credit card which has many features, this credit card will only have maximum 3 features
I could not tell you which 3 features to keep, you need to go and ask your target market on what are the most important features for them.
remember, you don’t need to please everyone, you just need to find people who will value your fresh, no nonsense and fun card
the main function of your card is it works when it’s needed and the customers know who to ask when they don’t understand
3. Invest in good datamining and analytics people
For Indonesia market, my recommendation is rather than invest in buying software on advance integrated CRM it’s better to invest in hiring many people who are really good in datamining
But you need to buy good hardware on your database and system, though
with good hardware and people, you need to have a very good customers behavior analysis to serve your customers even better
4. No cold calls selling and no street salesman/girl
Your outbound calls are basically serving the customers, reminding their transactions or if they forgot to pay on the due date. But again, no scripted talks…have a real conversation among human 🙂
Your new accounts are basically coming from word of mouth and the conversation in the call center
5. Have a good marketing and communication people
I mean really good.
And they must have fresh mind and have a great passion to delight their customers
Anyone wants to try? More interesting idea?
* notes:the inspiration is coming from Zappos