Customer Retention

The training deals with important aspects of customer retention, knowing the competition among the banks, Services offered by private banks, public sector banks and cooperative banks. Know how people role in managing and retaining customers. This training gives participants a greater understanding of why customers defect, a way to examine their own beliefs on customer service, six keys to delivering extraordinary service, and techniques for building relationships and following-up with customers.

In managing and retaining customers, all banks rely on their employees’ roles and efforts. People play a crucial role in delivering exceptional customer service and building strong relationships. Here are some key aspects of managing and retaining customers:

Understanding Customer Defection: It is essential to understand why customers leave and switch to competitors. Analyzing customer feedback, conducting surveys, and monitoring customer behavior can provide insights into the reasons for defection.

Examination of Beliefs on Customer Service: Banks need to encourage their employees to examine their own beliefs and attitudes towards customer service. Positive attitudes, empathy, and a customer-centric mindset are vital for providing excellent service.

Keys to Delivering Extraordinary Service: Banks should focus on six keys to providing extraordinary service: understanding customer needs, exceeding customer expectations, being proactive, resolving issues promptly, maintaining consistency, and continuously improving service quality.

Building Relationships: Developing strong relationships with customers is crucial for customer retention. Banks should focus on personalized interactions, listening to customer needs, and providing customized solutions. Relationship managers or dedicated account managers can play a significant role in building and maintaining customer relationships.

Following up with Customers: Regular follow-up with customers is essential to ensure their satisfaction and address any concerns or issues. Banks can use various channels like phone calls, emails, or personalized messages to keep in touch with customers and demonstrate that their business is valued.