Are you clients having a great experience?

 

 
As I was searching for my topic this week, my wife, Kathy, reminded me of the awful experience we are going through with our own local community bank.

Let me share my client? (or just a customer?) experience.

We wrote a check from our home equity line of credit (HELOC) for a planned purchase.

The first letter arrived and asked us if we were having trouble paying our bills because our home equity payment was late.

We had just sent in many thousands of dollars.

Ok, fine….

The second letter arrived and said that our loan was due in full.

Ok, fine….

I called my “personal banker” who very nicely informed me that our line HELOC had expired.

She let me know that they had honored our draw-down even though “they were not supposed to” and informed me that the loan needed to be re-written.

My personal banker delivered the paperwork to be completed but it was all blank.

Ok, fine….

Two days later, my “business banker” from the same bank called to introduce himself as my new business banker.

He is called to TELL me that I needed to refile my annual paperwork for my business line of credit.

He faxed over the cover letter of requirements and a blank (fax of a fax of a fax) form for me to complete.

Ok, fine…

We submitted everything (I was just slightly peeved) and they called to schedule a closing.

I requested that we have the meeting at my office and they agreed to meet in two weeks. Two days before the appointment, there was a message on my HOME answering machine informing me that they would be late.

Ok, fine….

Both loans were underwritten and approved. We had a closing that lasted about 10 minutes and they were all smiles as they went on their way.

I requested a copy of the appraisal for review which they promptly faxed over. Turns out I live in a 2 story home with 2.5 baths. (Neither was accurate!)

Ok, fine….

The following week we made a very substantial payment towards our HELOC and back in the mail came a loan statement.

On the statement was a handwritten note: “this is the wrong acct#”

Ok, fine….

So my spouse said “If we ran our business like this we would be out of business.  I would like a new bank please.”

Here is my summary of what should have happened in my humble opinion (Of course I assumed we were a valuable client of this bank):

  • A call letting us know our HELOC was expiring and needed to be re-written.
  • A completed set of populated forms arrive for our signature.
  • A call updating us on the process as we went through it.
  • A call to our office to reschedule or at least ask if it was ok if they were going to be late.
  • A call letting us know our account number would be changing or has changed.

Don’t treat YOUR client like we were treated.

  • Communicate the process – Even it is negative (your mistake OR theirs).
  • Remember to say please and thank you.
  • Remember that they are the client and you want their business.
  • Provide an extraordinary experience and they will be loyal advocates for years to come.

 

Eliot

 

Guide – Client service is about the experience and not just the result.

Action Item – Make sure your clients are getting an experience better than they expect. This will make them advocates, not just customers.

© 2009 The Advisors Center, LLC – All Rights Reserved

 

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2 Responses to “Are you clients having a great experience?”


  1. 1 theadvisorscenter August 17, 2009 at 10:21 am

    Hopefully advisors are providing a better experience.

  2. 2 Holly August 17, 2009 at 9:56 am

    UNBELIEVABLE! Actually, not….


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