R-E-S-P-E-C-T, Find Out What It Means To Me

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Swaminathan at recently blogged about enterprise feedback management vendor Allegiance’s which found four areas that retail banks should emphasize to increase customer loyalty and engagement: 1) Helpful service; 2) Clear communications; 3) Personal connection; and 4) Respect. In commenting on the survey, Swaminathan wrote:

“I quite agree with personal connection as an important engagement pillar, as technology is taking away personalized service from banking. Banks need to identify ways of building personal connection with customers as they invest more in self-service technologies.”

My take: Before Allegiance goes out and spends another five or ten thousand dollars to administer their survey, they should come to me. I could have told them that those were the four areas for banks to focus on, and I would have only charged them $10.

What is noteworthy, however, is Swaminathan’s comment. He’s 100% correct that a personal connection is an important pillar of customer engagement. But his implication that technology — self-service technology, in particular — can’t contribute to making a “personal” connection deserves some consideration.

With apps that customize screen layout, learn preferences, default to common transactions over time, and provide capabilities like online chat and click to call, there’s no reason why many consumers won’t see technology as enhancing — not diminishing — the personal connection.

Technorati Tags: Banking, Marketing, Allegiance, Pulse of America

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