Category: Customer Experience

Banks are thinking about imposing annual fees of $25 or $30 on debit cards, according to people familiar with bank strategies.  Other banks will increase fees on checking accounts. For example, during 2011, Bank of America will offer four basic checking accounts in some states, instead of three.  Three of the four will offer ways for customers to avoid fees, while the fourth, the Essentials account, has an unavoidable monthly fee between $6 and $9.  Chase Bank will charge a $6 monthly fee on one of their checking accounts, however, customers can avoid the fee with a $500 or more monthly deposit to the account, or when they use their debit cards five times during the month.

Good service can break down more easily during the busy holiday season, making it even more important to know how to say “I'm sorry” to customers. Inc. Magazine’s article, “How do you say I’m sorry?” highlights the importance of handling customer issues smoothly in the worst possible scenario.  Diners at the upscale restaurant, Jean Georges in New York, encountered a roach on their table. The restaurant manager quickly relocated them to another table and their meal was on the house.   What does your company do when faced with tough customer situations?  Do you train staff on how to appease customers when they are dissatisfied?

Online sales are expected to increase 7-9% this holiday season as compared to other retail sales, which are expected to jump 2%.  Just as measuring customer experience in stores and over the phone is eye-opening; measuring the online experience enables companies to gain feedback that can lead to improved offerings.  In the retail environment, managers can overhear and observe customer interactions.  Managers can't make concrete observations during an online experience, so some type of measurement mechanism for online experiences is even more imperative.

Gift cards are always an important element of retail offerings during the holiday season, but perhaps even more so this year, as companies conform to new gift card rules.   While consumers increasingly choose gift cards for holiday purchases, 13% of customers indicated in the 2010 gift card survey that they would be reluctant to purchase gift cards with expiration dates and additional fees.   Now, thanks to the new rules, consumers have fewer fees to consider when deciding on gift cards. The new rules mandate that companies may no longer charge fees for gift cards that are dormant or inactive.  Another element of the rules is that stores list gift card disclosures clearly on the back of the gift card.

Many organizations train employees to use a step-by-step method for problem resolution. This is an effective way to ensure that employees handle customer issues according to company standards and prevent customers from leaving.