relevance of customer service

8/4/2019 Relevance of Customer Service

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Who is a customer? A person, company, or other entity which buys goods and

services produced by another person, organization, or other entity.

What is customer service?Customer service is the provision of service to customers

before, during and after a purchase.



Some basic methods of customer

service Customer support

Automated customer service

Instant feedback

Standardization

Importance of cutomer service customer loyalty

competitive edge cost to companies

happy customer



Customer segmentationSegmentation is a process of dividing the market to profile thecustomers that we want to focus on

Segmentation is finding customers in a context with a commonneed.



customer segmentation

Young years Family life Mature years

Young up comers(online living ,

ATM nation)

FlourishingFamilies

Business Class

Loan rangers Mass Middle Class Comfortably

Retired

Economizers Working-ClassCountry

Retirement Ready

Life stage

risk



Segmentation by behavior

Types of Customers Characteristicsof thecustomers

How to deal

Tough or Aggressive • Egoistic• Impatient• Harsh

• LISTEN ALLOW HIM/HER TOTALK FIRST

• EXPRESS YOUR POINTS ASSUGGESTIONS CLEARLY

• BE COURTEOUS BUT FIRM

Uncertain Customer • Nondemanding

• Indecisiveand Unsure

• Evasive•

Seeks Assurance

• MAINTAIN EYE CONTACT

• BREAK BARRIERS

• LISTEN

• ASK THE RIGHT QUESTIONS



KnowledgeableCustomer

• Demanding• Technically

sound• Good

knowledgeabout theproduct

• SATISFY HIS DESIRE FOR DETAIL

• NO FOOLING HIM

Friendly Customer • Talkative• Discusses a lot• Warm & good

natured

• Respond to Warmth andHospitality

• Keep to Business

Angry or IrateCustomer

• Aggressive• Irritated

• BE ASSERTIVE-IN CONTROL-NOT ANGRY

•

BE POLITE TO THE POINT

• CALM & CLEAR VOICE

• DON’T GIVE HOLLOW PROMISES

• EMPHASIZE



Segmentation done by banksCustomer type facilities

High net worth individuals Privilege Banking

Senior citizens Senior Citizens Savings plan,ICICIBank Life Plus Senior Citizen Account.Fixed deposits Interest Rates forSenior Citizens

NRI(non resident Indian) NRI Engage

Corporate clients Cash Management serves, tradeservices,Current Account,CorporateInternet Banking

Other individuals Savings Account , Current Account,Loans - Home, Car, Personal

Rural

Urban



widely implemented strategy for managing

company’s interactions with customers.

Used to learn more about customer’s needs andbehavior’s in order to develop stronger relationship with

them .

this process helps businesses to use techonology and

human resourses to gain insight into the behavior of

customer s and the value of those customers.

The overall goal are to find , attract and win new

clients and retain those the company already has.



PHASES OF CRM :

Initiative can help

a business in

acquiring new

customers throughcontact or direct

marketing, selling.

A web enabled CRM

combined with

customer services

tools offers servicesfrom a team of

trained and skilled

specialists.

CRM software and

database used to

identify and

reward its loyalcustomers.



BENEFITS :

To make intelligent business decisions with enhancedcustomer insight.

To drive customer demand up.

To increase returns on the marketing investments.

To improves sales efficiency service.To transform services into a

profitable line of business .

To increase customer loyalty.

To increase sales revenue.

To increase customer convenience

and satisfaction.

To manage customer life cycle.



IMPORTANCE : Campaign management :banks needs to identify customers, tailor

product and services to meet their needs and sell products tothem.

Customer information consolidation : CRM stores theinformation in a customer centric manner covering all products ofthe banks .

360 degree view of company:

it removes inconsistencies in data, making clients interactionsmooth and lead to customer satisfaction.

Activity management

Personalized sales home page



IMPLEMENTATION :Implementing a customer relationship management system at a bank

takes careful planning .

Banks need to involve key employee in the vendor decision so that they

choose a system which will give them the most for their investment

Ease of use and ability to view information quickly are equally

important to employee and managers.

CRM helps firms manage customer relationship better , and to vital to

company success

It include “ Personal Banking “.



Types of banking Internet Banking

Phone banking

Mobile Banking



Meaning A system allowing individuals to perform banking activities at home, via. the

Internet.It is less costly and a time saving facility as there are no ques to stand in a no turns to wait for.

Services OfferedView account balance and statement.

Create Fixed Deposit.

Payment of bill.Order a cheque book.

Stop payment on a cheque.

Transfer fund between accounts.

Request for a demand draft.



MeaningWhen customers use telephone to get an automatic system which allows them to organize and make changes to their bank accounts.

How is it beneficiary?

Checking account balances and statement.

Enquiry on cheque.

Stop payment.

Loan related queries.

De-mat related queries.

Regeneration request for ATM/DEBIT CARD PIN.

Opening a Fixed Deposit by simply authorizing a transfer of funds from savings accounts.



MOBILE BANKING

Meaning Mobile banking means a financial transaction conducted by logging on to a bank website using a cell phone.

•

How is it beneficiary? SMS to be sent Transaction Information receivedbal Balance Balance enquiry up to five

Enquiry accounts.

txn Mini Details on last three debit/

Statement credit made to your account.

bil Bill Electricity bill, telephone bill.

Presentment fdq Fixed Deposit Get account number, Rate

Enquiry of Interest, maturity Date,

Maturity Amount.

chq Cheque Book Cheque Book is mailed to you.

Request



an ideology, a value system where in companies' activities are centered around the requirements

of customers. dramatic impact across an organization,

leading to increased market share, profits and share-of-customer.



Perception vs reality:Manage your customer’s perception by creating a goodimpression.

First impression vs moment of truth:Is when the customer experiences the product or servicesand forms decisive opinion.

meeting/exceeding customer expectations =good

moment of truth.

Human needs vs business needs:product is bought to satiate both the human and

business needs .



An icon of customer centricity

HDFC created cubicles in its offices

that afforded a great deal of privacy to

increase the customer's comfort. deep insight into customer

sensibility , including a dramaticreduction in loan processing timeputting the customer at the forefrontand exceeding his expectations, timeafter time, has built tremendous brandequity and loyalty for HDFC



YES BANK YES Bank India is a new age private

sector bank in India

Founded by Rana Kapoor with a goalto set up a high quality, customercentric, service driven private sectorIndian bank that would cater to the

"Future Industries of India".



MERITMeet everyone’s requirements in time

Customers are not dependent on any organization but

organization is dependent on customers

The oranization should focus/concentrate oncustomers more rather than profits

To get new customers is 4 times expensivethan retaining the existing customers

CONCLUSION

relevance of customer service

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