Cards Customer Service - How to Achieve Excellence
Competition creates the need for perceived differentiation among various card programs
Usage of all card types is now more complex and service related than ever before
Loyalty programs will increase usage even for small value items
The concept of service in the cards business has switched from a reactive response one, to a proactive marketing one
Summary
To any card business the need for providing acceptable customer service is obvious. Such a need is inherent in any organization hoping to be successful on a retail or consumer direct basis. Even manufacturing and supply organizations find that service is a substantial factor in their competitive positioning. In the card business, customer service is particularly important for many reasons, some of which are presented below:
The various types of general use cards are not particularly differentiated in the type of usage available.
Competition creates the need for perceived differentiation within the various card programs. T
Customer choices for cards are simply too great in growing competitive markets, many of which have experienced an explosive growth in card issuance over the past five to ten years.
Maturing markets find themselves in an environment where growth of one particular card program has to rely on movement of cardholders from other programs in an ever-increasing requirement for growth.
The average number of cards being carried by qualified individuals is significant.
Usage of all card types is now more complex and more service-related than ever before.
New concepts of revenue generation are often exception condition fee based (past due, over-limit, exception handling).
Loyalty programs have grown significantly and tend to increase usage even for relatively small value items.
Simple arithmetic indicates that medium to large size card issuers have well over 100 percent of the number of existing cardholders contacting the issuer multiple times during a year.
Scope
This report provides a methodical, bottom up approach to positioning a cards specific customer service operation
It examines the resources, both tangible and intangible, required to operate excellent customer service policies
It reveals what service quality metrics should be measured, and how often
The report also looks at the use of customer service as a tool to increase profitability
Reasons To Buy
Find out why the customer service function must be a central feature of card programs
Consider what factors affect how customer service is delivered
The report highlights all the customer service tools necessary to provide excellent service
It discusses the importance of recruiting and training an effective customer service team
The report finishes by considering how customer services will evolve in the future
Key Highlights
Usage of all card types is now more complex and service related than ever before – card customer services must support all these
Service perception and the reality of service provision is the same thing for the customer
The provision of bad service is very expensive
Card customer service has the opportunity to reduce costs, including by taking on functions that have been performed elsewhere
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