In the world of consumer finance, there are do’s and don’t’s – things you really should be doing to deliver value to your customers through your consumer finance program, and things that are dragging that value down. Here are a few easy examples to help guide you through this sometimes tricky area.
The old adage that “the customer is always right,” still holds true today. Now more than ever, consumers are careful about where they spend their dollars and who they spend them with. Online reviews, apps, and social media “word of mouth” make it easier than ever for potential customers to evaluate a business and gauge its value before ever interacting with that business in a meaningful way. Businesses that truly put the customer first when it comes to consumer finance – by leveraging a complete finance automation solution like FormPiper to streamline the customer experience – are bound to rise to the top.
In your (justifiable) zeal to better serve your customers, don’t forget that your team members also need and deserve a high level of service and attention from business owners and decision makers like you. Treat them as you would treat your customers when it comes to consumer finance. Give them the best tools for the job and automate as much of the process as you can to show that you respect their time.
When it comes to consumer finance, efficiency is highly important. You want to get your customers in and out and not have them sitting around all day waiting for an approval. FormPiper helps with that to a massive extent by removing duplicate data entry when applying to multiple lenders. With FormPiper, you’ll be able to fill customer data in across multiple forms with a single click of a button.
Efficiency is critical, but so is making your customers feel welcome and at home. You can respect your customers’ and your employees’ time without sacrificing a human, personal touch. Emphasize the importance of warmth, friendliness, respect and empathy to your team – you may even want to do a whole training on the subject to really ingrain it in them. A great customer experience is, after all, mostly a great human experience – albeit facilitated by software and hardware.
When it comes to tracking the performance of your consumer finance program, you want to cast a wide net for data. Gathering even a few more metrics than you think you need may be advisable given the critical importance of data to your ability to make informed adjustments for your business. Don’t be afraid to report on just about everything relating to your consumer finance program – be afraid of missing key data when you need it down the line.
When gathering so much data on your consumer finance program, it’s easy to get lost in the digital woods. Turn to FormPiper to help you handle your reporting – among other key needs – and enjoy a user-friendly reporting dashboard that surfaces the insights you need, so you can act on them quickly and effectively. It’s just one more example of the many ways FormPiper helps you run a consumer finance program the right way.