Why the finance industry is failing at customer service
OpenMarket’s Paul Murphy considers why, under all the ‘disruption’ and shiny new apps, Australia’s big banks still can’t get customer service right.
The term ‘disruption’ is now so commonplace that you probably just rolled your eyes. But buzzword or not, the success of challenger brands and start-ups in upsetting the status quo has forced companies to take a long, hard look at themselves.
We all want to be the next Uber or Airbnb. But these new players didn’t change the game out of nowhere – poor customer service and unhappy consumers created a landscape ripe for disruption.
Research from Bain and Company shows that 80 percent of companies believe they deliver a ‘superior experience’ for their customers. But only eight percent of customers agree. Clearly, someone’s deluding themselves. (Hint: the customer is always right.)
