Leadership Message — by Rich Hyde, President, Prestige Financial
Over these past months, we’ve all learned to adapt and make changes in order to keep business moving forward. This has been a tremendous learning and growing experience for our team here at Prestige.
Prestige is in the business of helping people to move forward. Specifically, we provide financial solutions to car buyers who have experienced credit challenges. But we don’t just help them to get reliable transportation; we also help them to progress toward a better place financially, which can benefit their lives in many ways.
For every transaction, we have two customers: the dealership and the borrower, and we’re constantly working to improve the service we provide to both. Over the years, we’ve learned some important relationship rules that lead to the best outcomes for everyone, as we strive to be the best place in town to work and the best place in town to do business.
Rule 1: Begin with Empathy
As the saying goes, “People don’t care how much you know, until they know how much you care.” Many customers will contact you because something has gone wrong: a product isn’t working, they can’t figure out how to use something, or there’s been a miscommunication, all of which can be frustrating. Before you do anything else, acknowledge this frustration. A simple comment such as, “Oh, that sounds very frustrating,” or “I understand why that would be upsetting,” can go a long way toward helping them know that you genuinely care.
Rule 2: Give Your Full Attention
No matter what is happening around you, the customer you’re interacting with should have your complete attention. Do your best to demonstrate that they are all that matters to you right now. If you’re on the phone, this might mean covering your other ear or turning away from distractions. Without interrupting, give short, affirmative vocal responses to signal that you’re really listening. In person, this means making eye contact and not looking away, even if someone else calls or texts you or there is other activity around you. Nod or even smile at appropriate times, and ask questions that will help you get to the bottom of the problem. All of these cues let your customers know that they are important to you, their fully-engaged ally.
Rule 3: Find Common Ground
Whenever possible, find common ground with a customer, and in a genuine way. This helps both you and the customer to see each other as human beings, and it will help your customers feel closer to you and, through you, to your company. If you can achieve this through the problem they’re having, that’s even better – we’ve all been frustrated in doing business of some kind or other, so this is usually fertile ground for finding shared experiences.
Rule 4: Recognize and Respect Humanity
No matter how difficult the situation, every person deserves to be treated with dignity and respect, including the upset person on the other end of the line. The moment we forget this, communication and problem-solving suffer. The simple gesture of addressing your customer by name is a great place to start (if it’s not available to you, ask for it), and then look for other opportunities to show that you’re also a human being, and not a faceless representative of an impersonal corporate entity.
Rule 5: Own Your Mistakes
If you or a colleague in fact made a mistake and it’s affecting your customer’s experience with you, take a moment to acknowledge that error, explain what happened, and emphasize that you’re trying to make it right. Admitting that something was done incorrectly is never comfortable, which is why it’s increasingly rare in today’s business environment. But doing so can endear you to your customer and do wonders to rebuild credibility, trust and loyalty.
Rule 6: Listen to Feedback
Create easy ways for your customers to give you frank feedback, encourage them to do so, and listen to what they say. This allows you to observe patterns in how your customers perceive you, that you might otherwise miss. Our customers’ suggestions through the years have helped us to improve our business in innumerable ways, benefitting everyone involved. And some of the greatest insights have come from the feedback that’s toughest to hear.
Fine-tuning your customer experience takes energy and focus, but it will pay off. The level of personal, genuine service you provide will determine how your customers feel about you and your company, which will be a primary driver of what they tell their friends about your business and whether they come back again.