How bankers use Mystery Shopping ?

Service in the banking sector should always be at a high level and should be closely monitored since the financial industry has a huge responsibility for personal funds and clients’ investments.  They have been assigned an important part of human life, so the quality of service is extremely important here. Coming into the bank, the client should feel secure and comfortable and should perceive the attentiveness of the employees because poor service in the banking sphere will lead to loss of more clients than will poor service in the retail sphere.  Staff incompetence, negligence and lack of attention to detail will lead to client stress and sometimes to financial loss.

Mystery shopping in the banking sector has a huge advantage, both to maintain a high level of service and to identify bank problems in a timely manner.  There is a popular belief that the main task of mystery shopping is to catch “bad” employees. However, this is a misconception because mystery shoppers are much more valuable and bring a lot of benefits to banks.  

Below, we will show two cases of banking sector clients and we will describe how they use Mystery Shopping.

One of our clients in the banking sector was faced with regional management issues as well as a lack of awareness of the importance and impact of providing good service.  We offered the client a solution through FGD (Focus Group Discussion) with mystery shoppers.

The main tasks were:

To involve regional managers in discussions around the importance of good service

  • To inform regional managers about mystery shoppers, to demonstrate they are regular people with their own opinions, lives, feelings, and impressions.
  • To change the format of evaluations.
  • To examine evaluations through the eyes of mystery shoppers.
  • To look at problems around premises and staff through the eyes of mystery shoppers.


Solutions we offered to the client:

  • Conducting FGD in every region involving Managers.
  • Introduction of full cycle checks.
  • Quarterly changes to the questionnaire.
  • Variety of scenarios to evaluate.

In the process of working on this project, our specialists were faced with various difficulties.  It was not easy to conduct 9 FGDs in big cities with millions of residents and in small regional centres.  As well as the lack of specialised locations, there were also problems relating to poorly trained moderators lacking experience and also an insufficient number of mystery shoppers to recruit.  

To resolve these difficulties, our team implemented a number of actions: launching a live video in the regional offices, training mobile moderators in small towns, co-ordinating locations by photos and recruiting mystery shoppers directly as well as using other agencies.  

Thanks to the efforts of our team, we helped our Client to solve various problems:

  • Managers became more aware of the importance of good service.
  • We demonstrated the client perspective.
  • Changes within the system.
  • The desire to improve service quality.
  • A special attitude to improve NPS level.
  • The desire to increase the Subjective Index.

To date, the project is not yet complete, but we have already received the first results of growth indicators of Regional Department ( FGD was at the beginning of the third quarter).  

For example, Region 1 and Region 2 have improved the indicators of basic format.

During the project, there have been changes in approach to hall manager evaluating, changes to the questionnaire as well as motivational changes within the company and, more specifically, motivational changes amongst the Regional Managers when they realised the impact that low scores were having.  

This project allowed us to maximise regional management involvement and to generate interest in order to focus on the responsibility of the mystery shoppers.  Also, the project helped to develop additional sales (FGD with real clients, competitive visits, NPS calls). There have been meaningful changes in the questionnaire format.  One of the main changes is the importance of Enhancing Awareness of Service in the bank.

Telesales/Telemarketing

In the second case, a Sales Department (dealing with small and medium scale corporate clients) of one of the recognised leaders in the banking sector, approached us for help in attracting potential business clients for banking services such as Bank Guarantee and Overdraft.

The bank provided us with a base of potential clients.

The purpose of the introduction of Telemarketing is the telesales and to organise business meetings between company managers and potential customers.

Benefits of Telemarketing:

  • Direct communication with clients.
  • Saving time when working with large numbers of potential clients.
  • Fast growth of client base.

The database of contacts in Telemarketing is critical.  The quality, relevance, and level of potential clients which the database contains play a key role in achieving successful results.

Process of Telemarketing:

  • Trainers and supervisors learning about banking products.
  • Preparing worksheets for call centre operators.
  • Testing of the trainer’s knowledge and understanding of products.
  • Three-day training of operators.
  • Basic training and negotiating.
  • Product training.
  • Roleplay, product testing and test calls with our Client.

During this project, our team faced several difficulties: low-quality database due to a large number of irrelevant phone numbers, long conversations since one call contained two products and issues with the resistance of generators in the call centre.

In order to eliminate the difficulties and to increase the chances of obtaining a successful outcome, we suggested the client our own database.  We also suggested changes in the priority of the proposal of banking products and we also suggested operators be trained by high-level managers. The bank employees were present in the call centre during our training in order to oversee and amend the work of the operators during the test calls and role play.  In addition, we held a conference call with bank employees, call centre managers and the project manager in order to handle objections in the event that the operators experienced any difficulties. We have provided constant support on this project.


The main conclusions:

  • Individual approach to Client needs.
  • To provide operators for every product
  • In addition to the calls, it is necessary to send the presentations to potential clients.
  • The ability of the call centre operator to learn every product of the client individually.
  • Knowledge of sales work of any complexity.
  • The required managerial resource for quality implementation of Telemarketing projects.

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