To provide the best possible customer experience, you need to understand consumer behavior and customer preferences. This is especially true of the sales staff in a typical financial institution such as a bank or credit union. Of particular concern is whether sales staff are complying with any laws or regulations governing the financial services products they may be offering, as well as whether or not they are tailoring their interactions to match the needs of the customer. Too often, products being discussed are inappropriate for the particular customer sitting across the desk.
Interactions between a customer and the sales person lay the foundation for a relationship that is going to prosper into sales and into a happy customer. But, there are humans involved. A lot can go wrong.
One of the most effective ways to monitor the sales process at your financial services company is through mystery shopping programs specifically designed for financial services sales staff. A mystery shopper, using parameters set by you, will go in with a typical financial services customer inquiry. This article gives some guidelines for mystery shopping programs for financial institutions, developed by the Consultative Group to Assist the Poor, a global partnership of 34 leading organizations.