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Service Brands are not built through mass media but the 3Ps of Service Marketing. Read on to learn more..
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The real Gurus of Customer Centricity
The real Gurus of Customer
Road Side Cobbler
Knows his customers one on one - all based on trust (probably runs a frequent buyer program)
The real Gurus of Customer
Neighborhood Tobacconist
Has unique customer ids, credit ratings, special offers, discount deals
home delivers and runs long terms relationship programs with top end customers - all manually
The real Gurus of Customer
Around the Corner Laundry Service
Highly evolved one to one marketing techniques - Knows how to crease your trousers in that special way, picks up and home delivers - has a credit facility and what’s more gets his kid to clean your car for free !!
The real Gurus of CRM Neighborhood Grocer
Runs the most efficient CRM program - Has more refined customer knowledge than some of our sophisticated data vendors
Consider the following…
Why do we love our favorite bookstore?
A Largest collection of
books The best rates in town The most convenient
location in town The best advertising
amongst all
B People know me there, even
remember my name Go the extra mile to help me
find my book Go the extra mile to help me
get my book They understand my taste,
and make good recommendations too!
The best service in town
OR
Why do we hate airlines more? Is it because…
A Their planes are awfully
old? They have lesser
legroom? The lounge area looks
pathetic? The seats are very
uncomfortable?
B It delayed / cancelled flights? The staff behaved rudely
with us? They lost our baggage? They had to be reminded 3
times before they got our coffee / suits?
They refused to redeem our loyalty points?
(We love them for these same set of reasons,when we get a favorable response)
OR
Truth about Brands in a Service Economy
“Consumers aren’t loyal to the company that provides the service, they are loyal to the
people who provide them the service.”
It’s so true about finance brands
They are all service brands
- Intangible products, lots of and continuous consumer interactions
To what extent would our impressions of finance brands be impacted by…
…TV Advertising?
…Print Advertising?
…Radio Advertising?
…Direct Mailers?
…Easy-to-remember toll-free numbers?
To what extent would our impressions of finance brands be impacted by…
…The telemarketer pestering us?
…The insurance advisor who we meet?
…The person on the helpline?
…The customer care officer who went the extra mile?
…The timely reminders on mail / SMS?
There’s more to finance brands
than brand communication
Because it’s all about people:
people delivering the service and
people consuming the service
Delivering to Customer
The 3 additional P’s of customer centricity for service brands
People How are the employees, sales, after-sales and customer
service staff of your company handling your company brand? Process
How are the rules, procedures and systems of your company handling your brand?
Physical Evidence How is the physical evidence (your forms, account
statements, etc.) of your service handling your brand?
People
Does the staff know and feel the difference in their service versus the competition?
Does the staff believe in customer centricity and its values?
Is the staff empowered to customize and deliver the service to its different customers?
Even the telemarketerwho mispronounces a customer’s name, contributes to quality of service delivered
Ditto for the customer service representative,who says he does not have the authority
to modify the database information
Process
Does the process allow for customization? Is it customer-friendly? Is it employee-friendly? Is it in sync with the overall brand
promise?
Is there a service recovery process / plan?
Is the process a hurdle or an enabler of the brand’s promise of ‘fast service’?
Or is the company policy coming in the way of flexibility in options enjoyed by the customer for paying premium?
Physical Evidence
Do the application / claim forms make life easy or difficult for the customer?
Are the account statements and documents easy to understand?
How many asterisks are there next to the brand’s promise?