Banking goes customer focused
Monday, July 2nd, 2007Years ago when I was working for Don Peppers we anticipated the rise of customer-driven businesses who oriented their service offering around direct customer feedback. It seems that day has arrived for banking. Check out Umpqua bank in USA. The ‘bank’ looks more like a bookshop crossed with a coffee shop or a top hotel.
When we say "Welcome to the World’s Greatest Bank," it’s more than an
expression, more than a slogan. It’s our commitment to our customers
and communities, and it’s our commitment to ourselves. It’s the reason
for everything we do.Whether you’re visiting one of our stores, or visiting us
online, we want to provide you with an environment and a feeling that
you couldn’t match anywhere else. It’s a place where you can find all
the services of a larger bank, while enjoying all the comforts of your
neighborhood store.
some customers will pay more for personal service in a place and manner that is convenient. Others will use internet banking and never speak to a branch. Today’s business is challenged by technology and ‘old fashioned’ values to provide the means for customers to transact business in whatever manner and time and place of their choosing.
Not really possible for some of us - but definitely acceptable for leading edge companies to try and deliver.
For example, Mail order PLUS a retail store.
I suggested this to a large music retailer in the UK - why not put internet terminals into your shops so customers can buy ‘online’ and have it shipped direct to their homes? You can choose whether to maintain a price parity of not between these methods of delivery.
Curiously they didn’t want to do this….. and in an industry that has so many price margin challenges, that seems interesting.

