A friend recently told me about their experience in refinancing their mortgage
with a large bank.
His story reminded me of a joke I once heard.
A man died and was at the gates of heaven. St. Peter stood at the gate and asked him if he wanted to go to heaven or hell. The man said, “Heaven, of course”.
St. Peter told him that before he made a final decision, he could have a tour of both places. The man agreed.
He got on an elevator and was soon greeted by Satan in Hell. The man was shocked! Satan was dressed in a tuxedo, drinking a martini and offered the man a drink. He led him into a beautiful casino where everyone won every game. Satan took him outside and showed him the gardens and the endless rounds of golf that could be played at the course there.
The man left and went back to St. Peter for his tour of Heaven. It was very nice…beautiful music playing, quiet places to rest, peaceful and lovely. He thought it was very pleasant, but nothing like the exciting fun times he had seen in Hell.
He told St. Peter, “I’ve made up my mind. I’m going to go to Hell”. He went into the elevator and descended to Hell. When the doors opened and he stepped off, there was fire and brimstone and terrible things happening all around him. He saw Satan and asked, “What happened to all the wonderful things you promised me when I was here earlier?”.
Satan replied, “Earlier you were a prospect…Now you’re customer!”
…..My friend’s experience had some similarities.
During his “Heavenly” prospect stage
The Loan Officer was so nice. The lender called back, quickly responded to questions, promised that everything would be taken care of for him. The bank was eager for his business. The Loan Officer would even come to his work or home to discuss and help with documents. Given his financial situation, he was told the refinance should be a “piece of cake”. My friend agreed to begin the process.
Then he entered Customer “Hell”
He never heard directly from the Loan Officer again. He had filled out endless amounts of papers, signed documents and jumped through the financial hoops needed for the deal, despite being promised “easy” process. The online process-tracking that customers could view on the bank website showed multiple errors: 15 documents still needed, although 12 of them had been mailed to the Loan Officer. One document being requested was about child support or alimony received as income used in the qualifying even though he had told the Loan officer there was no such income.
He emailed the Loan Processor and was told that “everything was fine…don’t worry”. A week later a threatening letter saying “you better send us these documents or else” arrived.
My friend had had enough. He emailed the bank parties involved and wrote that he was ready to cancel everything. Within minutes of sending the email, he received a call from the processor apologizing. Suddenly there was great service and smiles from all involved. The website information was correctly updated and initial approval for the loan was received.
The bank was lucky that my friend was willing to give them the chance to fix things. It’s too easy for our customers to move on and look for someone else who will treat them well both as a prospect and when they are a customer.
Ask your sales and service teams…Are we making our customers feel valued or just focused on bringing in the new business?
Filed under: banking, Call Center, Contact Center, Customer Communication, Customer Experience, Customer Loyalty, Customer Retention, Customer Service, Customer Service Skills, Proactive Customer Service | Tagged: Banking Services, Business Processes, Communication, Contact Center, contact centre, Credit union, customer experience, Customer Loyalty, Customer satisfaction, Customer Service, Web Based Self-Service | 3 Comments »