Academic journal article ABA Banking Journal

What Delights Customers? the Answer May Surprise You. (Briefing)

Academic journal article ABA Banking Journal

What Delights Customers? the Answer May Surprise You. (Briefing)

Article excerpt

All businesses seek to satisfy customers and many companies have a goal of "delighting" them. Hard data about how well this is done is difficult to come by, however, which makes some recent findings from a customer-research company known as TARP, of interest.

The sample size was approximately 2,000 customers of two large companies involved in investments and insurance. TARP asked the question, "Have you received any service that delighted you or was extraordinary? If so, please describe your experience." Of the 2,000 respondents, 215 provided a specific event or description. These fell neatly into ten categories, which were (not in order of importance) as follows:

* Told about a new opportunity, often a new product;

* Personal relationship with a staff member over a period of time;

* A single interaction with a very friendly staff member;

* No unpleasant surprises;

* Provided assistance during a life event such as an accident or divorce;

* Ongoing provision of information such as commentary on the investment market or an assessment of an account;

* Service beyond expectations including expediting complex transactions or heroic actions;

* Consistently good service even when the customer makes mistakes;

* Flexibility on policies--waiving fees;

* A product offering significantly better than the competition and expectations, often at a lower price. …

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