According to PwC, 50% of borrowers will not use a mortgage lender again (or will discourage others from using that lender) if they have a negative experience. As we all know, that type of user behavior is powerful and can have a dramatic impact on your business.
We looked to some world-renowned, customer-service-oriented companies to learn from their practices and how they can apply to your mortgage business.
Here are 4 companies to inspire your customer experience improvement efforts:
Zappos’ “Daily Breakdown Report” simplifies many call center analytics reports. Rather than overwhelming customer service reps with every metric, it lists three customer interaction channels — phone, email, and chat — and provides simple and easy-to-understand reports on how many customer contacts come in via each channel as well as the average length of time to respond.
“We believe that customer service shouldn’t just be a department; it should be the entire company.” — Tony Hsieh, CEO, Zappos
By offering three communication channels, they’re making the effort to go to their customers, instead of forcing their customers to use something they may be uncomfortable or unfamiliar with. Sometimes more really is better.
Recommended Reading: How Zappos Delivers the “Wow!” Experience
Southwest has made customer happiness a critical pillar in their success. Their “two free checked bags” policy is a marked departure from industry-standard fees and is one of the many ways that Southwest has distinguished itself as an airline dedicated to customer happiness and long-term retention. Loyalty and transparency are hard to find in airlines today, and Southwest uses the latter to foster the former and stand above the rest.
Recommended Reading: Southwest’s Focus on Empathy
A key aspect of USAA’s well-known customer experience is their use of technology to improve the speed and efficiency of usually painful tasks. From automated alerts and notifications on claims progress to biometric authentication on its mobile app, it’s all about reducing friction for the customer in stressful moments. Most importantly, USAA doesn’t use technology to replace the human connection but, rather, frees their customer service centers to be more productive and helpful when their clients really need them.
Recommended Reading: How USAA Succeeds
Amazon has perfected the e-commerce process. From the initial search in Google to the “one-click checkout” and the ever-popular, free, two-day shipping, Amazon has focused on reducing confusion and breakage in the online retail flow. Additionally, they analyze user behavior to display personalized recommendations on every visit, giving customers a tailor-made experience, every time.
Recommended Reading: 5 Ways Amazon Has Changed the Customer Experience
For more on improving your borrower experience, check out our free eBook, The Experience Edge: Improving Borrower Experience for Increased Profitability & Competitive Differentiation.