Complaints Are an Opportunity, Not a Failure
There are so many variables that can affect customer satisfaction in financial services, but a negative experience isn’t the end of the journey.
Here Martin Ellingham, Senior Product Manager at Aptean, explains how a centuries-old Japanese custom can transform a company’s customer experience.
The art of Kintsugi and why your mindset matters
This might sound like a strange question in the context of financial services, but have you ever heard of Kintsugi? No matter if not because I’m about to explain exactly what it is – and why it matters to your complaints handling team.
For those who haven’t come across it before, Kintsugi is the art of repairing broken pottery. Fixing broken pots and dishes might not sound that impressive (or seem to have much bearing on complaints and customer experience) but the philosophy behind it is both fascinating and highly useful.
In Kintsugi (which translates as ‘golden joinery’), the broken pottery is repaired in a specific way. The pieces are held together with a special mix of lacquer and gold powder – creating a golden seam that serves not to hide the break but highlight it. The piece of pottery is not as good as new; it wears its golden scars with pride. They are now part of its history and something to be cherished.
Whatever caused the item to break has, instead of rendering it useless, helped it become more beautiful. For people used to seeing broken things as being at the end of their journey, it’s an interesting concept to get used to. However, it’s a philosophy that I think can have a profound effect on how you approach complaints handling – and the entire customer experience.
The problem with a product-driven customer experience
Delivering a great customer experience (CX) is a challenging task for any company – especially in the complex world of financial services. There are so many different elements that need to come together to keep each customer happy. Some of them, you won’t even have control over. After all, how can you account for the things going on in a person’s day that will influence how they interact with you?
Thankfully, overall, customers are incredibly happy with the products and services they receive from companies. The UK banking sector is above the all-sector average for customer satisfaction, so it must be getting something right.
The problem arrives when customers aren’t happy with the products and services they receive. Too many businesses build their CX around the core product. So, when this doesn’t suit the customer’s needs or doesn’t work out as planned, the company isn’t sure how to handle the situation. Sure, it has a complaints handling team. But, when the sole focus of CX is on delivering a great product, there’s little any agent can do to add value or retain the customer.
The importance of repairing relationships and building customer trust
When businesses lose a customer, there’s a tendency to label each case as a ‘lost cause’. This is especially the case when a product or service hasn’t lived up to expectations because companies don’t want to be faced with their failures. I don’t mean this as a harsh criticism; it makes sense when
an organisation’s outward-facing reputation is built on the success of its offering. Customers want to purchase from a company they can trust to deliver the goods.
However, businesses have less and less control over how their brand is perceived. When a customer has a poor experience, they’re easily able to post reviews online detailing exactly went wrong. There’s no way for companies to prevent this – other than to deliver the best possible CX. In situations where customers are already unhappy, aftercare and complaints handling become vital.
Too many customer relationships break down because there’s no effective way to resolve issues and mend the trust between consumer and company. This is where the following philosophy of Kintsugi could make all the difference – both to the retention and acquisition of your customers.
How to apply Kintsugi to complaints handling
As I’ve mentioned already, there are so many elements that go into creating a great CX. You can’t deliver the perfect experience 100% of the time – it’s simply impossible. However, when things don’t go completely according to plan, you can pick up the pieces and mould them into something new; something stronger.
If you apply the idea of Kintsugi to your CX, you can change the way you look at the customer journey. Instead of hiding the issues customers have had with your products and services (again, you can’t), focus on mending these relationships through complaint resolution to make sure people come away with a positive experience of your overall business.
By accepting that the customer journey doesn’t always go smoothly, you can transform the perception of your CX and your brand. When people look at a Kintsugi bowl, they don’t focus on how it broke – they see a new, more beautiful object that has taken the place of the original. The same will be true of your CX if you have an effective complaints-handling operation in place to rebuild trust with customers who have had a less than positive experience up until the point they complain.
Creating an opportunity with complaints
If you can make golden repairs on your customer relationships, you can turn negative experiences into positive ones. As well as making those consumers more loyal to you, the approach means people are far more likely to become brand ambassadors – helping you attract new business. This is why complaints are an opportunity for financial services companies, rather than a source of shame.
To make the most of this opportunity, however, companies need to know that their complaints handling teams are operating as effectively and efficiently as possible. For an unhappy customer trying to resolve a complaint, the frustration of having to do something as simple as repeating their details and queries to several different agents is magnified hugely. It’s just one example of how poor complaints handling can exacerbate a negative CX and highlights the need for companies to get the basics right.
When a customer gets in touch to talk about their complaint (whether over the phone or online), they have to be given the confidence that their issue will be resolved as best as possible – regardless of who they talk to. This means making sure that every agent has access to up-to-date information on each case, allowing them to make progress, support the customer and take important steps towards improving the overall CX received.
Get the right mindset (and the right tools) for the job
The way you approach complaints in your company will make a huge difference to how successful you are. If you apply the ideals of Kintsugi to complaints handling, you’ll shift the whole focus of your CX – and your business will be better for it. However, having the right mindset is just one piece of the puzzle.
To create an effective complaints-handling operation, you need to give your agents the right tools for the job. Aptean Respond gives financial services companies the ability to transform their CX and turn complaints into opportunities. A powerful piece of case management software, it gives agents the information and support they need to resolve complaints quickly and drastically improve customer satisfaction.
There’s no need to view complaints as a failure for your company or its products and services. Customer relationships can almost always be repaired, and trust mended, with the right approach to resolving issues rather than hiding them. Sometimes things break. But, with the right tools your complaints handling team will be the gold that holds the pieces together and makes them stronger.