Customer Service Speaks Volumes
Years ago I attended a talk by one of the people involved in setting up First Direct. As I remember, they'd been given a very short time to set up this new service; something they succeeded spectacularly in achieving.
First Direct was a new idea - a bank without branches... a telephone bank. As more and more people found the convenience of this the bank grew. Competitors watched and then followed.
The consumer banking market is a competitive one. So how is that that First Direct keeps its customers despite the fact that there's no daily perks like current account interest?
It provides great service. There's no explaining your query to some faceless machine, or pressing 97 for this and 98 for that - all those things that really wind people up. OK, so it costs more to provide this level of service, but a loyal customer base is easier to maintain and grow than one that is in constant churn.
At Big Red Moose, as a smaller business we know very well the benefits of regular income over the whole process of finding a new client, getting paid for a job, then moving on to the next one.
So be nice to your customers. Keep them coming back. Give them great service. Really.... it works.
Oh, and yes, I do use First Direct, but I'm not getting any benefit from them through this article - I'm just a happy customer.