In today's competitive, fast-paced and global overall economy, financial service has put increasing focus on customer service as a means of getting competitive benefit (Sarah Cook, 1995). The type and amount of competitors and the power of retailers, banking companies, administration deregulation and other financial service companies to provide similar products at similar prices has resulted in increasing emphasis being located on personal service as a way of adding value to customers.
Providing an exceptional customer support is no longer an added benefit, is essential, customer who aren't satisfied with the way they are treated can simply take their business somewhere else, exceptional service is achieved by positively discussion through effective communication and marriage building. Exceptional customer service will bring unpredicted final result, whether you provide a good customer support or poor customer, people will inform other the way they are cured (Renee, 2005). Customer support is approximately consciously building customer centred organisation where employees are centered on serving their customers both internal and external for suffered, profitable development, (Michael, 2003). How you communicate and establish relationship with your customer is this is of customer service, the relationship might not be long the instant relationship is customer support, leaving an intense concentrate on product development to place much focus on romantic relationship development (Karen and Keith, 2006). Customer support is the key issue to any company which involves the entire employee of the company from the exec to minimal staff of any company for not burning off their earth to the competitors, customer is the foundation of any business we should please our customer to keep carefully the business in existence. Also, purpose of any organisation is to make a customer, you will want to supply the exceptional service to them to be able to attain the purpose of the company (Ian Linton, 1994).
Customer service shouldn't be regarded as a necessary attachment to financial service, but an integral part of business, especially at it deals with customers - the true belongings of companies procedure in a fiercely competitive market (Bryan and Merlin, 2002).
This section will give the backdrop of the research because the customer is the main element of any business, it offers the value of customer service in financial services, known reasons for developing customer support, benefits of customer support to financial service, how to boost customer service, the study questions will be responded to in the books review.
In the bank sector the customer service consists of diverse of relationship between your providers and their customers especially personnel are tools in creation and provision of services quality service, they have to look after the client by interacting with their needs and well please, we must put customer first, pay attention to them, by listening to your visitors and providing them with the products and services they really want, you can gain and keep your show of the market, solve their problems, it make you retain the customers, provide products and services to meet their need and be friendly with them, it includes service to the client, delivery, operations, staff and management. In meeting customer need, bank sectors must control product and service, delivery system, environment and people to be able to provide an successful and caring service getting things done properly and keeping standard. Customer support and good service should be the work of all the staff from management level to all or any staff which brings together executive, marketing, functions and human resources management.
Reasons for expanding customer service
The reason for customer support is handled by customers, employees and a changing business environment, customer can be specific, home, group or company know about competitors in financial services or service provider organisation and also of rising standard of service they are willing to give compare to service they acquire therefore, expectation of consumer climb and become defective finding of the grade of service they acquire and so company can be never be less concerned. Also understanding of cost and take advantage of the existing customer compare to entice new customer draws companies' focus on good customer support to existing customer, getting together with their needs and complaint, developing long-term romantic relationship, companies must recognize that good customer support does not disagree with success.
Looking after staff is also a opportunity for an organisation not place a goal amount for them to meet capital base to the bank because employee can be an internal customer, as company become larger they could also become private and bureaucratic which dissatisfy the worker. Communication may deteriorate any romance between customer and customer contact workers, between customer contact personnel, between management may suffer. Also in a recessionary climate, cost-cutting exercise, re-organisation and redundancy can impart on staff morale, desire and performance. In spite of this company should realize that commitment to employees bring companies rewards and much more advantage it also encourage staff participation.
Another reason behind developing customer service is the business environment, this create need for customer services, the business enterprise environment is typical economic, legal and technology which is not steady, recent deregulation in financial service has increased competition between providers, which gives more choice for the buyer. In such a business environment bank sectors must stress procedures and financial efficiency and targeted more on product and market strategy. Also, they can concentrate more on customer service (quality in the corporate and marketing strategies). Exceptional customer service must be seen as tool to achiever differentiation and a competitive benefits, so it has become integral course and planning BankPHB. Customer service is such an outstanding issue that no major financial service provider can overlook whilst other are bettering the grade of service levels.
Benefit of Customer Service
Customer Loyalty: Taking proper care of existing customer can cause repeat and increase business and business lead to appeal to new customer from positive word of mouth to others by existing customer communication. Customer retention is less expensive, loyalty to the company will make the client to be an advocated that create a reputation to be a caring customer oriented company.
Increased opportunities to market: Understanding and complete product knowledge and sales techniques among employee together with develop relationship and rapport with customer enable staff to know customer needs and suggest appropriate product and service that will satisfy the customer.
Employee satisfaction: When worker is taken care and attention is increased job satisfaction, morale and dedication to the company good employer - employee relationship and increased personnel loyalty which contribute to reducing the rate of personnel turnover and the associated costs of recruitment, selection and training activities. Happy dedication and qualified employees will also make fewer blunders and this business lead to fewer issues from customer and contribute to cost benefits and raise the success of the company. Also good customer service improve the commercial quality image and offer safety form price competition, most importantly successful service leads to keep your charges down such as flaws, working and advertising and deals, and increase output and sales, market stocks, success and business performance.
HOW TO BOOST CUSTOMER SERVICE
Changing character of customer service
BankPHB needs to change or enhance the traditional way they do business with their customer, using sales rep as the only real method of increase their capital basic is risky, is seen as public humiliating to the rep, telling the consultant to get certain first deposit to the lender or get fired what is needed for BankPHB and other financial service agency in Nigeria like other financial services in United Kingdom is to inject invention to life-blood of the organisation so that it becomes part of its very being, such as cell phone banking service, effective internet bank service this give attention to rate, convenience, quality and service for the customer and less work for the worker. Also BankPHB must be more customer-focused than product targeted.
Creating customer-centric systems
BankPHB must be inclined to improve the policies which includes become blueprint that sales agent or marketing consultancy should bring first deposit less than that they can be sacked the prospect of customer centric can be very great, this technique may hurt initially, but is a good prospect.
Business essential and top management engagement: BankPHB must understand that it is a clear that unless there's a business essential for customer retention and top management is fully committed to customer service there may be little chance to success. Customer orientation need to accustom the company mission, vision, value and goals it needs to be both professionals and senior professionals' expression and actions
Service strategy and goals: To reach your goals in competitive market and a person focused organisation, BankPHB will need to have an obvious strategy and a couple of specific and measurable goals for service improvements
People development: Training and development is an essential in promoting customer service beliefs, there should be often training and development for the staff and customer recognise the business can benefit because this will improve their attitude towards the client in a good way their behavior, knowledge and skill, and make the organisation more flexible, proactive and customer targeted in the face of strong competitor, the quality of leadership in an organisation can be an indication to success.
Communication: Communication is life-blood of organisation to support and develop a service effort, effective communication about customers, competitor and the best practice in customer support can create a positive change to BankPHB. The development of communication media to mention the service philosophy is a vital means of creating awareness of the organisation, communication can be verbal or written
Reward and popularity: Company with best practice offers a motivating environment for his or her customers and employee b rewarding and recognising the worker and the customer because of their contribution to success of the organisation and implores those to do more.
Customer-driven process: BankPHB should do business with its customer in a manner that suits the customers' needs not its own.
Changing customer expectation
Because of the technology consumers expectation are high they want better service which will provide them with satisfaction, they need greater choice and can not be sold to or manipulated.
Value for time
BankPHB and all other finance institutions in Nigeria must value enough time of these customers by giving self applied service such as effective cash machine, where you can withdraw your money 24hours without long queue in the banking hall an effective internet banking sitting at home pay bills, check your balance and telephone banking if customer has any issue to clarify is easy to do on mobile phone than heading to the lender looking forward to the Director to call head office for clarification which can take two to four days it is time consuming, the procedure of value for time resulted to easy customer and worker satisfaction.
Know your customer rights
Customers know their protection under the law they tend to be unsatisfied if is violated and complain, majority of BankPHB customers complain about loan promised to give them is their right, to get loan without security if indeed they have good information, they likely to make their thoughts and opinions known if indeed they violate this right. BankPHB must keep to the right of customers.
One of the greatest changes that can improve customer service in BankPHB is technology, bank checking account balance on internet, settle payments, open bank account, debit and credit alert via mobile the utilization of technology could revolutionise BankPHB romantic relationship with customer, loan company rep can visit customer insight data via computer and print out cheque, use technology to wish the client wishes on the memorable times like loved-one's birthday, birthday it gives customer been around. Technology provides customer self applied service.
What is customer support?
Ability to provide an exceptional service is a perquisite of both attracting new customers and retaining the existing customers, but customer service is the belief of the customer to the service given, and the understanding is based on their expectation, if a customer receives service much better than the expectation is great service, but if customer receives less than the expectation is bad service.
To provide excellent service BankPHB must surpasses customer objectives "under-promise, over deliver", keep to promise never promise what can't be delivered, to earn customer today BankPHB needs to joy and astound the clients with products and services that beyond their prospects.
The priority of great service company today is on the total customer experience. The customer experience of the organisation based on the effective communication/marketing initiatives its package and connection with employees as well as its products or services. Financial company in United Kingdom Barclays Loan provider train their employees to help customer with almost all their needs such as loan even though you do not need it they'll advise you also on insurance that can be of benefit to you and the entire family so the ethnic of Barclays is brought to life by their staff as they know customer is the main element of the business.
Developing a relationship
There must be shared relationship between the customer and company and just how this marriage is been able is pivotal to reaching excellent services. Romance has become more important in financial services even understand your customer by their name. BankPHB customers must be seen as value important within the bank not seen as different consideration to the company. Theodore Levitt of the Harvard Business University relates presenting good service with building a long-term relationship, or marriage marketing He says:. . . . . the sale - only consummates the courtship, of which point the marriage commences. How good the marriage is, is determined by how well the seller manages the relationship. The grade of the marriage, can determine whether there will be continued and broadened business or troubles and divorce
One thing that regular in life is change a successful companies will preserve competitive edge by changing their businesses somewhat than maintaining the traditional way to do business, that is finding a fresh way of doing things both for and with customers BankPHB must adopt change through technology by operating 24 hours bank service, getting feedback from customer to help them improve on their service and customer commitment and satisfaction to the employee.
Contact centres: Is a means of achieving to customer know their need meet their needs 24 hours such as email written as well as mobile phone request, ease of contact to the service provider, convenience and swiftness of service are the primary benefit of contact centre for the client. Some financial industries are employing contact centre insurance plan as a marketing tool.
The internet: Is another change to joy our customer if offer them increased swiftness and choice, 24 hours per day, it permits them to advertise quicker and gather direct customer feedback to build up better products and customer commitment, retailing on the internet is already giving customers a sense of being in control, accessing balance, pay bills, this has made financial services rethink how they communicate with customers, what they understand markets to be, the way they segment and how they plan and advertise their products and services as well as the amount of service they provide. Nevertheless, BankPHB website must be included with all of those other customer strategy in order to keep brand synergy.
Customer relationship management (CRM) The procedure of setting up a customer service infrastructure using contact centre and internet technology is good commence to become customer concentrated than product centered, Customer marriage Management offers possibility to control their customers' romance, because the more information a firm has about the client better, CRM strategies is to determining desirable customer segments, micro or specific on one to one basis and growing involved programmed that boost both value to the client and life time value of customer to the financial services earnings boosting and customer retention. Additionally, it may help identify sales potential customers from existing or possible client this management serves as an intermediary between your company and an individual with this management BankPHB can be an improved financial service amidst its rival and known globally.
1. 2 Problem area discussion
One of the major problems most financial services are facing is how to control their customers is the formulation and delivery of their proposition to customers (Bryan and Merlin, 2002). In a person service technique for a corporation, there are often significant changes required in the corporate culture, employee training, technology infrastructure and dimension system, this changes is associated with investment of resources and personal commitment depend on the nice management of the professional management. Excellent customer support will only be considered a critical success factor if senior management show their participation in terms of the time, money effort, commitment, persistence and visibility (Sarah, 1995).
BankPHB customers (both internal and exterior) are not gratify with the service provided lack of commitment from the senior management, employee such as marketers are still left only to get first deposit into the loan company which is quite frustrating for the worker because of this the expectation of the customer are not found, let us assume that the senior executive of the business enterprise understand the expectation and perceptions of the client regarding service, which is dependant on personal experience with the staff or in person discussions and a sense of perception issues that are present in the thoughts of goal consumers and frontline, service delivery staff.
Also, Executive supervisor have an intimate understanding of customer expectation and perceptions and also have made certain that service criteria are relevant and significant in marketplace, the culture of the company must aligned with the objectives. The business resources is not centered on service expectations BankPHB guaranteed customer if you domicile your salary account for three month you will be given loan, after three month the expectation is not met due to this the clients are dissatisfied and willing to consider their account to another bank. This is misdirected marketing which creates both explicit and implicit promises in the mind of the customer, when these offers are not fulfilled, customer satisfaction are affected (Bryan and Merlin 2002).
1. 3overall research purpose
Looking at the aforementioned discourse, how to help BankPHB engender and support customer focus, the goal of this research is the value of customer support in an significantly competitive environment and how effective customer support can help BankPHB enter global market and the implication of increasing customer expectation and changes in trading habits exposed.
To address this aspect above, two research questions are attracted to explain the explanation for this research
R Q 1 How can
R Q 2 how performed you rate the personnel behavior at BankPHB?
1. 4 delimitation
The distance between your researcher and research study financial service and time constraint, also the compilation of the questionnaires, the reviews from the personnel may be characterized with similarities and prejudice because management might have influence on their reviews of the questionnaire.
2. 1 Improve customer service by technology
Technology can be used to enhance the quality of customer service by making easier for company to react to customers' need and satisfy customers' needs, also with right equipment, this technology provide customer with a 24 hours response service this maintain higher level of customer commitment.
Technology can contribute immensely to customer support in this field.
Reliable equipment operation
Customer will be very fulfill when there is reliable operation of the equipment to maintain their competitive business performance; an instant quality reaction to service request is vital, a lender cash-dispensing system must be constantly available, technology helps customer to operate independently business effectively and deliver high expectations of service to their customer.
Better profile control
The financial service desires to improve bill control, technical links not only provide the customer with higher specifications of customer service, they help strengthen relationships with the customer and prevent rivals from taking over.
Service staffs count on information
The more an company know about its customers the better service it can deliver, customer directories can be priceless in helping customer support staff quickly provide good advice and advice to customer quickly
Consistent local service
a large customer disperse over a broad geographical place and dealing with a financial service by having a network of local branches needs a consistent specifications of service, if the business doesn't have the resources to offer the same level of service in each branch it must discover a way of centralising and allocating its resources so that customer can be offered that uniformity and please.
THE COMPONENT OF CUSTOMER SERVICE
Customer look after the exterior customer requires an organisation to focus on its products/services, delivery systems, delivery environment technology and employees that are highly interdependent.
Product/Service range: This includes both basis and augmented services Gronroos (1987), this is dependant on the basic or core financial service, may be considered a current accounts with associated services which are needed to accomplish intake of the key services e. g. ATM and another service that are not required but help the service and differentiate with other competitors. The greater service offering includes how the service is supplied and the partnership between a lender and its customers that can be the accessibility of the service, customer involvement along the way e. g. use of ATMs and romantic relationship between employees and customers, system and customers and the physical environment and customers.
Delivery Systems:- Delivery systems and techniques must be operate effectively and effectively, responsive and reliable to avoid queuing in the bank hall, Silverstro, Fitzgerald, Johnson and Voss, (1992) make reference to three types of service delivery, professional services are referred to as few orders, highly customised services an activity orientation, relatively long contact time, mass service is exemplory case of many customer conversation limited contact time and customization, product orientation with value being added. The amount of direct interactions with providers and customers in delivery process in known as service Encounters or occasions of fact. This service encounters might take different forms, a person wishing to make an enquiry may decides an connection with ATM, or loan provider employee by mobile phone, by email, face-to-face contact whichever contact the customer chooses especially pressing the bank and its own employees, the staff must for an impression of the lender and its own service encounter also have an impact on employees with regards to their desire, performance and job satisfaction and their rewards. Recent perspectives and research associated with service come across are reported by Bitner (1990), Bitner, Booms and Tetreault (1990) and Larsson (1990).
Delivery Environment: - The delivery environment is another components of customer service, the surroundings includes physical design and access aspects and also psychological or atmospheric impact, this involve customer and employees, physical design such as layout, furnishing, noises and music, space for vehicles, lighting temps and comfort, most of bankers are redesign open-plant to eliminate the obstacles between customers and the staff (Greenland, 1994). Gain access to aspects includes hours, availability, convenience of location and security, physical environment research has been completed by Bitner (1990, 1992) she presents the idea of "servicescapes" which may involve customers only e. g. (self service), staff only (remote control service) or customer-employee romantic relationship which is common is service delivery, she said environment must be conducive for customer satisfaction and employee pleasurable, environment business lead to positive customer assessments of service and desire to invest more time and money, on the other side, unpleasant environment lead to avoidance.
Technology: - Technology is part of the complete service product, it helps customer-company exchange and increase service level, it also boosts speed, reliable and accuracy and reliability for the staff and better personal service for customer.
Employee:- The function of employee in customer support cannot be disregard, their personal qualities, ability to comprehend and satisfy customer needs. Gronross (1984a) discussed the outcome of quality of service encounters, the way the service is provided is done by staff of the financial services this will include attitude and behavior, appearance and personality, service-mindedness, convenience and approachability of customer contact workers. Edvardsson, Gustavsson and Riddle (1989) present four areas of quality which impacts customers' perceptions: Techie, Integrative, Useful and outcome, while LeBlanc and Nguyen (1988) shows that corporate image, internal organisation physical support of the service producing system, staff-customer connection and degree of customer satisfaction all are customer service/quality.
Parasuraman Zeithaml and Berry (1985:1988) suggested that he criteria used by consumer that are essential in moulding their objectives and belief in ten ways: Tangible i. e. physical evidence, dependability: honouring assurance, Responsiveness: readiness to proved service, Communication: revealing to customer what they have to know, Reliability: Trustworthiness, Security: physical and financial, Competence: skill and knowledge, Courtesy: polite, Understanding: knowing your customer needs, Access: easy to get hold of.
MEASUREMENT OF CUSTOMER SERVICE
Measurement of customer service can been seen as a different between consumer expectation and notion; Expectations are wishes or wants, which people believe company should give, Perceptions are consumer judgement about genuine service performance or delivery, when there is shortcoming between expected and perception there may be service quality difference which the supplier wish to close. Zeithaml and Parasuraman (1985) are inspired by four other shortcomings/spaces.
Consumer expectation: - (Management perceptions and consumer expectations)
If customer expectation is low (both inner and external) the result might maintain lower degree of delivery service this is distance, gaps may be closed down by general market trends and better communication between management and staff.
Management perceptions of Consumer targets:- when customer needs are known, there may not appropriate service specs due to lack of resources, organisational constraints (such as promise to give loan) lack of management commitment to customer support.
Service quality technical specs: - (genuine service delivery)
This gap is named service performance space, when you can find difference between management specs and service delivery scheduled to modifications in the performance of service employees. The reason might be the staff is not eager to work or incompetence.
Actual service delivery:- External communication about the service, this space is when, what said about the service in external communication differs from the service deliver e. g. advertising therefore, it's important not to guarantee more than what can be deliver.
3. 0 RESEARCH Strategy ANALYSIS OF THIS QUESTION
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