(Continuing notes from today’s Forrester Consumer Forum. More here.)
A net-positive presentation from Roger C. Hochschild, President and COO, Discover Financial Services. Hochschild seems to get it. Two particular areas of focus of note, with respect to connecting with their customers: Clarity and Control.
- Clarity: Cut our fine-print in half
- Control: If an account in compromised, Discover will assign a ::dedicated:: representative for the duration of the issue…don’t need to keep explaining yourself to the rep each time your call. [ed. nice.]
Two promises they make to their customers:
- Promise to answer phone calls in 60 seconds or less.
- Promise to answer emails in two hours or less.
A few key quotes:
- “We’re willing to forego short-term revenue, in order to help the customer” — Example was given that they will send email to a customer 3 days before due date if payment not yet received. Although this loses the late fee revenue for that month, it strengthens their relationships.
- “Build long-term value by focusing on solving your customer’s problems.”
- “Building customer loyalty pays for itself.”
One interesting question from the Q&A:
Audience member: Will you pursue blogs and podcasts?
Hochschild: Not sure that people come to our site to hear from our CEO or myself. However, we are experimenting with RSS, and it may replace some of the email communications we’ve been sending out.
” * Promise to answer phone calls in 60 seconds or less.
* Promise to answer emails in two hours or less.”
These fall into the ‘believe it when I see it’ pile, especially #2.
Hello Roger Hochschild
My treatment from your company has been deplorable. What a laugh I had at the Web Site that says you are Connecting with customers.
I signed up for auto payment plan to ensure no late payments. I live in Mexico & “had” a 880 score on my credit before signing up for a card with you in Nov 2005. My payment was $42 & after I made the first payment long distance from Mexico & was reassured that my auto payment had been approved & would be automatic in January of 2006. I have documentation in writing which was faxed to Heather & then passed on to Laura Turner (Ohio? I have this info at home)
Upon my return from Mexico I had piles of mail stating you had not done as you said & had charged me mounting dollars. I thought i would receive courtious apologies but instead nothing but rudeness & non cooperation.
I was then promised from Laura Turner that all evidence of your records would be removed from my credit report. Also, all fines, late fees & interest would be removed. It was an interest free card for a year which i signed up for. I agreed to pay the principal balance.
I have just been turned down for a credit card. Turned Down? because of this. Also, your interest & late fees continue. I want my Credit remedied before I pay you & then I want nothing to do with Your company. You can be sure that everyone I know has heard this story. Word gets around. I was once an auditor at Price Waterhouse, have been in a car wreck that has left me disablied. DiscoverCard has caused me undue stress.
So much for your connection to your comsumers. GRRRRRRRRRRRRRRRRR!!!!
Write me at 7402 Bairnsdale D
Houston TX 77449