Last week I considered how difficult it has become to build a brand by creating a unique product or a differentiated positioning. The holy grail of product superiority has been made even more elusive by globalised manufacturing processes that bring products to market more swiftly; and the heyday of advertisers telling customers how they should view their brands has been swept away by the inexorable rise of social media.More
With regulation and consumer protection an increasingly prevalent fact of business life companies need to ensure they meet requirements and avoid hefty financial penalties. With a significant number of financial clients ServiceTick well understands compliance issues.
A number of our clients use ServiceTick to fulfil the requirements of the ‘Treating Customers Fairly’ initiative. Other companies publish ServiceTick satisfaction scores on their website to give prospective customers the confidence engendered by existing customers’ ‘word of mouth’ endorsement of the brand.
By simply asking the question “Do you feel like you’ve been treated fairly by us today?” you can present a body of evidence to show regulators that you are actively managing this concern, and indeed by acting on any negative responses a lot of money and reputational capital can be saved by dealing with issues before they become formal complaints.