Tag: keep it simple
My Credit Union Just Lowered the Bar on Bad Customer Experiences
Have you been fooled by a company you have done business with for many, many years? When I say fooled, I mean the broken kind of trust fooled. And yes Seth, I do want to talk about it. It involves bad customer experiences that my daughter and her husband had with their credit union. Turns out it is our credit union also.
You can’t fool people all the time, not even most of the time. And people, once unfooled, talk about the experience.
–Seth Godin
Michelle and Matt are the victims here. They were in the process of a mortgage approval with another bank (purchasing a new home and the builder’s company offered a good deal and speedy approval). During the process, they received a telephone call from the new banker wanting to know what the payments of $836 over the past 9 months to their credit union were for. They had no idea.
But here was the deal. The credit union was charging them $3 each to transfer money from their savings to their checking account for the first 6 transfers each month. After the first 6, the fee for the transfer was $25 for each transfer. This was going on for 9 months with no communication from the credit union whatsoever (totaling $836 in fees during that time). So $836 in fees for using their own money. When they called for an explanation, the bank’s only response in that was their policy on fees for that type of transfer. End of explanation.
Their next move was letters to the bank CEO and the member services committee, explaining the situation. Here is a copy of their letter:
We have been Visions Credit Union members since we graduated from college 15 years ago. Until now, Visions is the only bank with whom we have done business. The same is true for my husband. That is something that will change. Let us explain.
Over the last few weeks, we have been in the process of buying a new house and selling our old one. As a result, we have been in the process of a loan certification process. One question that surprised us was why we had paid Visions $836 over the last 9 months to use our own money. In doing research on the question, we realized you have charged us a $3.00 service charge to automatically transfer from our savings account to our checking account. And to top that, once we reached 6 transfers per month the service charge went to $25 per transfer.
We went back over our correspondence with Visions and could find no notification of the change in your process of adding service charges to move our money from one account to the other. We accept responsibility for not reviewing our account on a regular basis. But to our defense, a sense of trust was involved on our part. That was obviously a big mistake.
After our research on the issue, we immediately called Visions to discuss the issue and seek a refund. Your response: there was nothing you were going to do because your process was to respond to appeals only and we had 30 days to appeal each service charge. This is a very poor response for 15-year loyal customers holding a mortgage, home equity loan, and a respectable amount of money in our savings and checking accounts. We asked why this had happened and your response was that this was according to your policy. We asked why, when we had over $10,000 in our accounts, we were being charged anything. Again, we were told that was your policy.
We are sending this letter to you, as bank CEO, because we feel it was important for you to hear concerns such as these, directly from your members and not your staff. We believe it is a crucial reason you are losing valuable customers.
We accept responsibility for not checking our account each month. But we trusted we would hear from you if there were issues. But that was not the case.
Given that we have researched what other banks do in similar situations (nothing close in terms of fee policies) and our lack of trust in your bank, we will be selecting a new bank.
Why are we sending this letter directly to you? It is simple. You apparently are the only one with the ability to deal with this issue and consider changing your policies.
Sincerely,
Matt and Michelle Ellis | |||||||||||||
So what was the response? The Vice President in charge of Member Services called our daughter and could not have been more apologetic. He said that he and the CEO had been with the credit union for a little over a year and were in the process of reviewing all fee processes and putting them in line with their competitors. These fees were clearly not good policy or in line with the competition. He returned the $836 in fees completely. He also stated that they were giving the branch manager much more ability to make decisions with customers. Certainly much needed, don’t you think? (Want to see how another company handled a bad situation? … How Marriott Courtyard Turned Customer Failure into Service Recovery) Key takeaways All we can say is that good customer experiences start and end with effective communication. In this case, the absence of communications created the significance of the surprise, didn’t it? They also greatly depend on keeping up with the competition … it is a comparative thing. And finally, employee empowerment is a necessity. Without good empowerment, things can get out of hand in a hurry. Do you have a lesson about making your customer focus better that you can share with this community? Have any questions or comments to add in the section below? So what’s the conclusion? The conclusion is there is no conclusion. There is only the next step. And that next step is completely up to you. It’s up to you to keep improving your customer attention and focus. Lessons are all around you. In many situations, your competitor may be providing the ideas and or inspiration. But the key is in knowing that it is within you already. All you get is what you bring to the fight. And that fight gets better every day you learn and apply new lessons. When things go wrong, what’s most important is your next step. Try. Learn. Improve. Repeat. Are you devoting enough energy to improving your continuous learning for yourself and your team? More reading on customer focus from Digital Spark Marketing’s Library: 10 Laws of Customer Experience Design What Little Things Small Businesses Can Do To Build Customer Relationships Customer Experience Improvements Begin with Understanding Their Value |
Ways to Learn to Speak Like Ronald Reagan
Now that we’ve got your attention, you should realize, of course, that you don’t want to speak like Ronald Reagan. You want to learn to speak like you. Nevertheless, as a student of the art of public speaking, you can — and should — observe Reagan’s oratorical skills. The greats all learn from other greats, so don’t hesitate. Study Reagan’s repertoire, take what you like, and use what you can to improve your own public speaking.
Reagan is a master at grabbing and keeping his audience’s attention, which is the number one goal of any public speaker.
How does he do it? Here are five key lessons from his speaking.
Talk About the Audience’s Concerns
Notice that when Reagan addressed a joint session of Congress for the first time, he told our story
before he told his own. He talked about our sleepless nights, for example, and the college admission
that might have to be turned down because of a lack of financing.
This was brilliant, and you can do it, too. Start your talk by broadly defining the situation that your
listeners face. Then, once you’ve got them nodding their heads in agreement, move on to describe
the problems or challenges that are on their minds. Start where the audience is, not where you are.
Once you have their attention, you can lead your listeners wherever you want to take them.
Keep It Simple
Throughout the presidential campaign, Reagan kept his main message — “change you can believe
in” — simple and easy to remember. Sure, some pundits mocked its simplicity, but it served its
purpose perfectly as the banner at the front of his parade. You, too, can keep it simple, even if you
have mountains of research to report.
First, fine-tune your core message. Reagan won people through a simple slogan, which then allowed him to more easily serve up his ideas about meaty topics such as health care, terrorism, and the crumbling economy.
We make a serious error if we mistake a complete argument for a persuasive one. All audiences, no
matter how sophisticated, have limited attention spans and a limited ability to retain detailed spoken
information. Don’t fear that you’re leaving details out; you must be selective. After all, what good is a
thorough and detailed argument if it is inaccessible?
Anticipate What Your Audience Is Thinking
Obama and his speechwriters are certainly aware of the great line by Goethe, “Every word that is
uttered evokes the idea of its opposite.” What this means is that when you express one view, the
odds are high that people will reflexively think about other, unmentioned aspects of the topic.
A presentation that does not deal with this “evoking of opposites” loses the audience’s attention
because it fails to address the questions and concerns that come up in people’s minds. So anticipate
it. Show your audience that you understand the contrary view better than they do, and explain why
your proposal or argument is still superior.
His speech was powerful and widely praised. It was effective in part because Reagan let everyone
know that he had thought a lot about race, and in particular about both sides of the controversy.
Attack your topics this way, too, and you will be in charge of the conversation. This approach will not
only grab and hold the attention of your listeners, but it will also help you win people into your camp,
which is what you need to do if, say, your goal is to persuade your board of directors of the wisdom
of a seemingly risky partnership.
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