Personal Service May Not Assure High Member Satisfaction

Tina Orem in an April 22, 2019 article in reports that “digital only” financial institutions have higher customer satisfaction than institutions that rely on traditional service delivery methods.

Personal service has long been assumed to be a determiner of customer satisfaction. While personal service is definitely expensive, it may not guarantee the highest level of member satisfaction. Measuring which services members value most in relation to profitability will be tantamount to effectively competing for business and remaining viable.

TCT Risk Solutions has a number of management tools useful for tracking profitability and goal achievement. One such tool TCT clients find helpful is its Vital Signs monthly report where a number of key data are tracked and progress can be assessed in a matter of minutes.