In an environment where banking products are becoming increasingly commoditised, providers seek to differentiate their offerings with outstanding client experience. But in a world of self-service and chatbots, how does the personal touch play out? Stefan Hoops shares his perspective
When Jan Carlzon joined Scandinavian Airlines as CEO in 1981, he changed the focus from technical operational excellence to client focus, because he believed that the only true assets are satisfied clients, all of whom expect to be treated as individuals.
In his best-selling management book, Moments of Truth, he explains how the first 15-second encounter between a passenger and the frontline people, from ticket agent to flight attendant, sets the tone of the entire company in the mind of the client. “We used to fly aircraft, and we did it very successfully. Now we have to learn the difficult lesson how to fly people,” he reflected at the time.
More than three decades later, the same principles apply – client satisfaction determines the share of market wallet and profitability.
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