Customer Service Offered by Co-operative Bank of the UK - Assignment Example

Customer Services Name Professor Institution Course Date Customer Services Executive Summary Maximizing customer pleasure and creating customer value is critically important in creating a prosperous service institution today. Therefore, this paper researches on what value does customer have, and ways to maximize customer fulfillment in today’s changing business setting. One of the service industry that faces competition due to customer service is the banking sector; therefore as a Customer Insight Manager I will analyze and evaluate customer service offered by Co-operative Bank of UK. These issues that will be looked into includes effective customer service customer service excellence, customer service strategies and customer service nature and give recommendation on various ways to improve them so as to improve customer relationship. Table of Contents Executive Summary 2 Table of Contents 3 Introduction 4 Effective Customer Service 4 Customer service excellence 5 Customer service strategies 7 Customer Service Nature 9 Customer support initiative 9 Programmed customer service 10 Conclusion 10 Recommendations 11 References 12 Introduction According Daub & Ergenzinger (2005 p, 1003) customer service is critical to the continuing effectiveness and success of an organization. Customers want needs and attitudes vary and change rapidly. It is significant for an organization to be constantly changing and assessing their customer service so as to adjust with these changes. Customer service is not just customer relationship or how pleasant frontline employees talk to customers, but rather, how satisfying or even pleasuring customers are; this must be an objective of exceptional customer service. The key purpose of customer service is to boost customer fulfillment, operational effectiveness and customer reliability (Dall & Bailine, 2004). Because of intangibility, the customers do not sense the service, and therefore lead lack of customers services confidence. The paper therefore analyses Co-operative Bank of UK from five dimensions, for instance tangiblibilty, responsiveness, reliability, empathy and assurance for its customer to deliver its services (Nyeck et al 2002, p. 103). In this report, the service quality is evaluated by adopting most effective instrument ‗SERVQUAL. Effective Customer Service Customers compare and contrast the service they undergo with what they anticipate , therefore it does not meet the anticipation, a gap arises. Dean (2004, p. 66) argues that building first-class customer relationships via efficient customer service is essential for growing a business. A requirement for good profitability to retailing business excellence customer service is crucial in building brand identity and final success. Effective customer service has ensured the sustainability of customers by Co-operative Bank of UK. Taking orders, transactions and relations, tackling complaints and possibly scheduling repairs and maintenance help build customer confidence in a brand also helped the bank a great deal. The value of customer care and service could considerably influence product identity service, consumer products firm, and manufacturing. Owing to its significance building impressions and maintaining customer relations, Co-operative Bank of UK has always referred their customer service as ‘front door’ or ‘face ‘of an organization. In this sense image and communication matters a lot. Yesterday’s incredible service can be today’s required standard and becomes tomorrow’s dissatisfaction. People who wait for clients to describe the standard at which they would want to be served are compelled to be in a defensive situation (Douglas & Connor, 2003 p. 69). Business which expects its customers raising demands can design product improvement, marketing and pricing strategies and customer service that satisfies customer’s needs devoid of forgoing revenues. Customer service is mainly targeted towards the company, chief executives, senior managers, middle-level managers and face customer service personnel who have hardly started to change themselves into customer judgment vehicles. Some significance concerning the desire to describe customers in a manner that allows Co-operative Bank of UK to focus on their efforts to satisfy the customers who would in turn help the business survives very crucial for a long term relationship (Wilkinson & Balmer, 1996, p. 26). Customer service excellence The customers of today are more empowered and enlightened, and holds more bargaining power because of the potential competition increase –indirect, direct, or substitute. In the market they want stress-free shopping, have short duration at their disposal to find the shop and the products and are hesitant to continue waiting. The contemporary format bank branches are working hard best to ensure the customer’s needs and are going out to revamp their store to offer more alternatives in assortments and plenty, and are offering as many services as possible. Hooley, Piercy & Nicoulaud (2008, p. 104), contends that "Customer service involves a sequence of activities created to improve the degree of customer contentment –for instance, the feeling that a brand has fulfilled the customer anticipation". The significance of customer service could vary by customer’s product or service and industry. The insight of the achievement of such relations will be dependent on staff "who can change to the personality of the customer. Service companies are growingly applying customer service to come up with sustainable competitive benefit – by means of value generation including as differentiation. The actions that maintain order, as well as information, configuration, advice, order processing, handling, post-sale communication and special services are all essential for the growth of an organization. Hooley, Piercy & Nicoulaud (2008 p. 497) state that an excellence of customer service is the livelihood of every business therefore a good relationship has to be maintained. Co-operative Bank of UK recommends promotions and cut mortgage prices in order to bring in several new customers (Co-op Bank, 2012). An excellent customer service concerns bringing clients back. According to Daub & Ergenzinger, (2005 p. 1007) customer Service excellence concerns understanding customers, satisfying their demands and provisioning of what are important to them. Customers would want to feel appreciated and believe as if they have an individual relationship with the business. Offering this personal care need not to be expensive. For instance Tesco is a small bank in the UK and they send customers tailored thank you letters and have commitment panels operating internally and externally keen to customer care. Sustaining relationships in the existing economic condition could be trickier if customers’ demands are not met. Customers tend to alter their support to another course when they feel their valuable returns will be respected more (Solomon, 2010). Banks have currently been facing difficult times in provision of services since they had to have a variety of customer teams all with different demands. Larking-Coste, (2005) maintains that a bank with an excellent customer service approach will offer choices for their customers concerning the service they offer, to make sure they are satisfying the conflicting needs of these teams. The government standard regarding customer service quality outlines five major components for excellent service; professional, timeliness, delivery, information and staff attitude. Customer service strategies The world has changed to a service economy style. The service sector has surpassed agricultural and manufacturing to the leader of immense expansion in the world of business. Co-operative Bank of UK which sells services is growingly employing the service to differentiate its products and add value to their provisions and brands (Lawer & Knox, 2006, p 124). However, there is yet a high degree of general discontent with the level of services many organizations offer, because they fail settle on what are actually the opportunities and challenges customers have to go through to finish a particular task or job process. On this Co-operative Bank of UK take seriously service innovation which plays a key role in enhancing the customer satisfaction and loyalty and in result achieve growth in the organization profit. This is the moment when customers start demanding the extra value while shareholders demand profitability. Therefore Co-operative Bank of UK has to learn to be innovative and offer proper services so as to stay competitive in the market. Lawer & Knox (2006, p 122) argue that with no innovation of services in place, the gap between the capability of the company and customer demands will growingly widen turning into a severe financial and competitive risk for several companies. Co-operative Bank of UK understands that individuals with the proper attitude is ‘key to creating an effective customer service strategy- recruit for attitude, offer training for skills’ have become an axiom this organization. They normally set a planned program for training in both individual skills and job skills which has to be sustained. Formal customer qualifications for every staff are always considered in this process. Employee’s retention has become critical to Co-operative Bank of UK in enhancing customer service quality (Co-op Bank, 2012). Studies show evidently that employees remain in an organization they work for when respected and happy. Co-operative Bank of UK efforts aims at development and recognition program to establish potential, and a carefully planned career plan arrangement. It is crucial to maintain the good customers the organization already in touch with, and increase their loyalty. Loyal clients are active promoters of the Co-operative Bank of UK, and they incline to be more advantageous, more focus in assisting the organization in improving its brands and services, and more forbearing of the organization irregular errors. ­­­­Getting right the customer service in Co-operative Bank of UK, and constantly enhancing it, is a long-term dedication that the management has made a top priority. They require knowing its importance, committing in the approach, being energetic by leading others, and doing things that encourage people charged with performing it out. If any of these actions are being undertaken or established primarily to cut costs then it is uncertain whether real enhancements in service levels can be achieved, particularly in the long-standing (Hooley, Piercy & Nicoulaud, 2008 p. 493). If they are to be put into considered as a vital part of an approach which is about enhancing customer service, one or several of them may be very valuable There are no rapid fixes in improving customer service, however there can be some rapid success. In terms tangilibity, Co-operative Bank of UK put more emphasis on appearance and the visually appeal of the bank and ensures it reflect 21st century customer’s requirement in order to attract more customers. The bank’s dependability and consistency in a service performance is also maintained by customer relations depends in order to satisfy service reliability dimension (Nyeck et al 2002, p. 102). The bank managers normally meet the responsive dimension of the institution by assuring the customers of the bank’s commitment in offering its services in an opportune manner while maintaining competency, ability and providing security in its operations. Customer Service Nature Customer support initiative In Co-operative Bank of UK a variety of customer services to help customers to make gainful and correct application of a product. In the organization, customer service comprises of support in planning, training, maintenance, service improvement, and discarding of a product. With regard to technology inventions for example computers, mobile phones (mobile banking), software products and any other electronic or mechanical products which is referred to as technical support. Programmed customer service Co-operative Bank of UK website normally offers other automated customer service for instance sales and service executives, or by automated methods. A benefit with automated methods is an improved capability to offer service 24-hours, which may, no less than, be praise to customer service by people. Other instances of computerized customer service are touch-tone phone, which normally engages a main menu, and the application of the keypad (Kim & Stoel, 2005 p. 287). Nevertheless, in the Internet age, a problem has always been to enhance or maintain the individual experience whilst applying the effectiveness of online business. Online customers are generally unseen in Co-operative Bank of UK, more so the internet banking customers, so it's simple to mistreat them psychologically (Kim & Stoel, 2005 p. 285). But this shortage of visual and tangible presence enables even more vital to build a sense of individuality, human-to-human link in the online platform. Some automated offered by Co-operative Bank of UK are completely on self service, but can also be derived from service by means of artificial intelligence, i.e. ATM services. It can benefit for business to cut their training and operating expenses. These are compelled by chatter bots, and a key fundamental technology to such mechanisms is natural language programming. Conclusion In conclusion, this paper has discussed the significance of customer service within the supermarket banking sector. Clearly some components of theory regarding customer service significance are well designed; particularly in relation to service anticipations. It has been claimed that this is a difficult process owing to the amount of diverse customer groups that require to be serviced. The concentration has been on customer service quality, retention and hiring and technology mostly in relation to banking. The paper has focussed the value of: building individual relationships, drawing a younger generation of banking, communicating, increasing awareness and participation. Therefore, it should be noted that Customer service is an important feature in the banking sector and an exceptional strategy offers opportunity for banking sector differentiate their services in that a competitive market which experience changes every day. Recommendations For Co-operative Bank of UK to deliver the Customer Service vision, there is a basic requirement to build a culture with which customers are put at the core of the institution and to transform the way and manner in which individual work and the manner in which that services are offered. Senior and middle managers Co-operative Bank of UK will require to give into the customer focus concept and embrace the needed behaviors attitudes. Co-operative Bank of UK senior managers requires to manage by example, and begin spending extra time ‘back to the banking hall’ in order to enhance the service delivery. References Dall, M & Bailine, A 2004, “Service this: Winning the war against customer disservice (1st ed.)”, Last Chapter First. Co-operative Bank of UK 2012, Co-operative Bank of UK, viewed 25th April 2013 from http://www.co-operativebank.co.uk/corp/pdf/Co-op_Bank_2012_online.pdf Dean, A 2004, Rethinking customer expectations of service quality: are call centres different? Journal of Services Marketing, vol.18, no. 1, p. 60-77. Daub, C & Ergenzinger, R 2005, Enabling sustainable management through a new multi- disciplinary concept of customer satisfaction, European Journal of Marketing, vol. 39 no. 9/10, p. 998-1012. Douglas, l & Connor, R 2003, Attitudes to service quality – the expectation gap, Nutrition & Food Science, vol. 33, no.4, p. 15-172. Hooley, G., Piercy, N & Nicoulaud, B 2008, Marketing Strategy and Competitive Positioning, 4th Edn, Essex, Pearson Education Limited. Kim, M & Stoel, L 2005, Salesperson roles: are online retailers meeting customer expectations? International Journal of Retail & Distribution Management, vol. 33, no.4, p.284-297. Lawer, C & Knox, S 2006, Customer advocacy and brand development, Journal of Product & Brand Management, vol.15, no.2, p.121-129. Larking-Coste, D 2005, Winning Opportunities in a Challenging World: New Markets, New Risks, New Efficiencies, Price Waterhouse Cooper. viewed 25th April 2013 from www.pwc.com/ext.web/pwcpublications.nsf/docid/9ef629c8820a7se085256f7e006803c6/$file/foodforthought52-1-pdf accessed 20 Oct 08 Nyeck, S., Morales, M., Ladhari, R., & Pons, F 2002, 10 years of service quality measurement: reviewing the use of the SERVQUAL instrument, Cuadernos de Diffusion, 7(13), 101-107. Solomon, M 2010, Seven Keys to Building Customer Loyalty--and Company Profits", Fast Company. Wilkinson, A & Balmer, M 1996, Corporate and generic identities: lessons from the Co- operative Bank, International Journal of Bank Marketing, 14, p. 22–35. Read More