Customer Service Department Driving Revenue & Profitability

Jul 07, 2017 9:15 IST 764 views

Written by Ms. Rakhi Narain

Peter Drucker, an Austrian-born American management consultant, educator, and author, said, “The purpose of a business is to make and keep a customer.”

We are growing in the business, and want our business reach to the next level. With an expansion of our home loan business, customers’ queries are also increasing day by day. We don’t outsource our customer service department; we keep it as centre of our business.

Our representatives can be found daily engaged in resolving queries like – When will I receive my welcome kit? When will I get my interest certificate on home loans? How can I update my new address? And the resolution helps us earn customer loyalty and retention.

We have internally designed a Standard Operating Procedure (SOP) that ensures the proper address of customer grievances within specific timelines.
To improve the overall customer experience, we have devised a strong robust complaint management process, where home loan queries are addressed in an efficient manner.
Also, our team is playing a pivotal role in contribution to the overall digitalization efforts of the company.

A research report from Harvard Business School, says, ‘An increase of 5% customer retention rate enhances profits by 25% to 95%’. To retain our customers and their happiness, we persistently focus on customer service, engagement, and education.

We firmly practice and believe in the fact that to succeed in the business world, a company must be customer driven, with a strong focus on customer satisfaction.

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