July - September 2015 •
The Lion King
• 33
Customer Service
BENEFITS OF
EXCEPTIONAL
By Olawale Hamed
S
o much has been said about the impact of qual-
ity customer service on organisational performance.
Customer satisfaction is generally accepted as one of
the main strategies that help companies gain competitive
advantage over their rivals.
Customers are attracted to organisations that render
exceptional customer service the way bees are attracted
to flowers. Everybody loves to be treated well - with respect
and courtesy. Everybody loves to feel welcome particu-
larly in a strange and new environment. Everybody loves a
warm and friendly atmosphere to conduct business. As the
ancient Egyptian proverb goes: “Better a warm welcome
than being invited to lunch”.
The following benefits accrue to customer focused com-
panies:
Customer satisfaction:
Exceptional customer service leads to customer satisfaction.
Behavioural psychology states that just like dissatisfied cus-
tomers share their bad experiences with anyone who cares
to listen, satisfied customers inadvertently become unpaid
advert agents for their bank. They listen to the frustrations of
friends and family and then prescribe their own bank as a
trusted solution provider to these people. And when a com-
pany remains firmly true to its exceptional customer service
philosophy, these referrals find that what they had heard is
indeed accurate and they get hooked right from their first
experience.
Increased customer patronage:
Satisfied customers help the bank attract more customers.
Once a bank gains the reputation of being a warm, friendly
and organised provider of financial services, the bank’s next
challenge will be how to manage the increased customer
traffic.
Increased business volume and revenue:
Customers do not just bring deposits to banks. They also
bring business ideas worth a fortune! They have business
ideas that may require additional finance or in some cases
financial expertise on the part of the bank, which translates
into increased revenues and growth for the bank.
Poor customer service on the other hand scares customers
away. Dissatisfied customers do not just walk away; business
and revenue opportunities walk away with them. A survey
showed that 61% of customers that leave take their business
to competitors. The same the survey also showed that 71%
of customers, who end their relationship with existing organ-
isations, do so because of poor customer service.
CUSTOMER SERVICE
