As a bank, there are three questions itâ€™s important to ask your customers. Not only will their responses help to drive your business, but theyâ€™re the kind of things people often donâ€™t tell you unless you ask them.
Acting on the responses to these three key questions will not only help your customers to become even better customers, but theyâ€™ll tell others about you, and thereâ€™s no substitute for the effectiveness of word-of-mouth.
It could be that you approved a business loan when other banks wouldnâ€™t, one that specifically meets their needs, lifestyle and financial. They might have had a fantastic experience with one of your small business specialists regarding start up, credit cards or insurance, and their business has been successfully launched as a result.
Whatever the reasons are that your customers enjoy banking with you, you need to find out. And itâ€™s the kind of feedback they wonâ€™t generally give you unless you ask. Once youâ€™ve found out what youâ€™re doing so well, you can then:
You know youâ€™ve got some satisfied customers, because youâ€™ve asked them what they enjoy about doing business with you. Now itâ€™s time to find out what else you can do. Consider the transactions your customers are working through with you, and ask them what else you can provide. They might provide you with an idea for a service that no other bank is offering, and this will boost your competitive advantage with a minimal effort on your part. But you wonâ€™t know unless you ask.
Itâ€™s all about the power of word-of-mouth. Itâ€™s the most effective â€“ and cheapest! â€“ advertising you can engage. If people like doing business with you, chances are pretty good that theyâ€™re thinking about friends, family or colleagues who would also benefit from becoming your customers.
So make it easy for them to spread the word about you. You can:
If youâ€™ve given your customers a good reason to spread the word about you, it enhances your brand and attracts new customers.
So put some effort into asking your customers these three questions. They are simple, you can act on the responses effectively, and strengthen your existing relationships while creating new ones.