Green means yes…Red means no…and Yellow means you can negotiate: A simple Customer Recovery Strategy

 

I read about a bank that made problem response a cinch for Customer Service Representatives.  From responding to requests to lower credit card interest rates to handling requests to waive NSF charges, all responses are driven by little squares on customer’s accounts.  The tiny squares — green, yellow or red — pop up on the screen next to the customer’s name.

Customers who get a red pop-up are the ones whose accounts lose money for the bank. Green means the customers generate large profits for the bank and should be granted waivers. Yellow means there is a chance to negotiate. Reps don’t have to seek management approval or fear that they’ve given away too much. The color of the square has already predetermined the response.

Consider adopting your own simple recovery method to help frontline staff quickly and easily make smart decisions that will protect both customer loyalty and company profits.

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