(Customer) Service is About Happy Endings

It costs more money to attract new customers than to retain existing loyal ones. Yet, the key to either is having a robust customer relationship mindset. If your interaction with your customer sucks, your business can neither attract nor retain customers. This is true no matter the size or complexity of your business model.

When I lived in Hong Kong, I was wowed on a regular basis by how their Consumer Banking industry makes it very convenient and efficient for their customers to transact business. While I bank mainly with HSBC, I've had transactions with the other banks, including Standard Chartered -two banks which also have presence in the Philippines - plus others, and I can say that Hong Kong does everything to make the banking experience as painless, even fun sometimes. You can argue this is because Hong Kong is a first world country. This to me is classic chicken and egg. Is a country and the businesses operating therein able to provide superior service because they are so-called first world? Or is it because of an outstanding service mentality that countries like Hong Kong join the ranks of the first world. Am I oversimplifying?

Last week, I visited the Philippine Islands bank, the same bank where I just opened an account the week before. I wanted to purchase USD 200, for personal use. Understandably, this bank offers more competitive rates to its account holders. Unfortunately, that day, I didn't have my ATM with me and I have not memorized my account number yet either. When I mentioned this, the teller made a face expressing displeasure. She said it would take time to retrieve my data if I just gave them my valid ID! WTF! And they had me already waiting to fill up redundant forms, just to get USD 200! My patience flew out the window, and I had to use my tone of displeasure!!! I told the teller then that I didn't care if she gave me the less favorable rate, I just wanted the transaction to be over with! Consider I was talking to the same tellers whom I opened the account with the week before. How difficult could it be to retrieve my information?

Of course, I thought of closing my account then and there, but realizing this bank is supposed to be one of the best, if not the best in the industry and country, I can only imagine what kind of service I'll get from the other banks. To date, my mind is still devising of ways to make my displeasure felt.

In contrast, it is rare in Hong Kong that you need to make a physical visit to the bank to transact. The online infrastructure is that advanced! And when you do need to visit the bank personally, everyone assists you to make the experience painless. The tellers even fill out all the necessary forms for you, and you just need to sign the same at the bottom. And they do this in the most efficient manner possible. I am not easily impressed by service but Hong Kong banks in Hong Kong get an all thumbs up from me.

Customer service is one of those keys to success that is often ignored, or just paid lip service to. It should be embedded within the core of any individual's work ethics. If we treat people we work with, or even friends we hang out with, as customers and treat them properly, we can go a long way in our personal careers, and businesses. Good customer service, which in its simplest form is really having good interpersonal relationships, streamlines all forms of interactions.

Do I believe that the customer is king? No. I believe that customers in whatever form they manifest are your equals, and must be therefore treated with respect. Customers should not be allowed to wait any more than is necessary. Customers should not be given bull! And where there are serious problems concerning the transaction, customers should be given information in the most transparent manner. Anything less will mean less business too, in the long term.

On a side note, after being away from Hong Kong for three months, it's really the efficiency and high level of customer service in that city-state that I miss the most. Tragically, I don't understand (fine, I do a bit) why the Philippines cannot achieve the level of efficiency so common there when we have so much talent here. Oh well...

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MoneyMe

email: steve78ph@gmail.com for questions