Today, customer service, as was understood by many of us present here in the past, has undergone a sea change. This has also resulted in changing customer expectations and behaviour. Are we really able to exactly guess or bet on what a customer really wants or are we really able to describe what “good” customer service is?
While the businesses including banks focus on expanding the customer base, we need to remember that customer retention is an equally important business objective. The customers of banks today are a very discerning lot and clearly distinguish between personalized service and material service. Are we equipped to handle this transition? Have we looked at change management from the customer service point of view?