Friday, March 27, 2009

Some Working Definitions: T-A-S-T-E in CRM

Dear Reader:

Please add some relevant connotations and denotations to the working elemental definitions of 
T-A-S-T-E
Trust, Accountability, Support, Truthfulness and Effort
100% Reciprocally delivered between customers and "us", the service and product manufacturers / distributors, dealers, providers, : you got my drift

A few suggestions as to definitional implications might include (and you, the reader, certainly can add your own):

T (trust): 

Customers can be 100% assured that the banker is selling a product to you which will improve your financial position over the long haul

 

Customers can trust that personal information is held securely; that such information is not shared with anyone who doesn’t need to know; and, that all information will be updated and that data hygiene is emphasized by the bank

 

Bankers can rely on customers for full, honest and complete disclosure about finances and both short- and long-term investment / earning / cash-flow needs and requirements

A (accountability):

S (support):

            Customers can expect to have transactions completed accurately, as I            ntended and corrected if somehow a problem should arise

T (truthfulness):

Customers can rely upon full disclosure about risks, rewards, and other implications that pertain the financial transaction performed on their behalf

e.g., how many clients (aka, customers) understand that platform bankers are sales people with hard-driven sales goals and that there is an incentive tied to each sale.

 

E (effort):

Anecdotally, can we glimpse the how and the why T-A-S-T-E hasn’t come into today’s deregulated banking world since the days of the repeal of the Glass-Seagall act? For example, while researching the shift in banking 10 years ago, several key behavioral or attitudinal issues seemed to be at the forefront for bankers. Sales, personal information, and how best practices regarding sales, cross-selling of products, retention of the right core customers – all these and other topics were being introduced into the retail-banking world.

 

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