Boston, MA -- (SBWIRE) -- 07/26/2012 -- To any card business the need for providing acceptable customer service is obvious. Such a need is inherent in any organization hoping to be successful on a retail or consumer direct basis. Even manufacturing and supply organizations find that service is a substantial factor in their competitive positioning. In the card business, customer service is particularly important for many reasons, some of which are presented below:
- The various types of general use cards are not particularly differentiated in the type of usage available.
- Competition creates the need for perceived differentiation within the various card programs. T
- Customer choices for cards are simply too great in growing competitive markets, many of which have experienced an explosive growth in card issuance over the past five to ten years.
- Maturing markets find themselves in an environment where growth of one particular card program has to rely on movement of cardholders from other programs in an ever-increasing requirement for growth.
- The average number of cards being carried by qualified individuals is significant.
- Usage of all card types is now more complex and more service-related than ever before.
- New concepts of revenue generation are often exception condition fee based (past due, over-limit, exception handling).
- Loyalty programs have grown significantly and tend to increase usage even for relatively small value items.
- Simple arithmetic indicates that medium to large size card issuers have well over 100 percent of the number of existing cardholders contacting the issuer multiple times during a year.
View Full Report Details and Table of Contents
- Usage of all card types is now more complex and service related than ever before - card customer services must support all these
- Service perception and the reality of service provision is the same thing for the customer
- The provision of bad service is very expensive
- Card customer service has the opportunity to reduce costs, including by taking on functions that have been performed elsewhere
- This report provides a methodical, bottom up approach to positioning a cards specific customer service operation
- It examines the resources, both tangible and intangible, required to operate excellent customer service policies
- It reveals what service quality metrics should be measured, and how often
- The report also looks at the use of customer service as a tool to increase profitability
Reasons to Get this Report
- Find out why the customer service function must be a central feature of card programs
- Consider what factors affect how customer service is delivered
- The report highlights all the customer service tools necessary to provide excellent service
- It discusses the importance of recruiting and training an effective customer service team
Companies Mentioned in this Report: Visa, MasterCard, American Express, Diners Club, Citi
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Financial Services research reports at Fast Market Research
You may also be interested in these related reports:
- Social Media Strategies: Applications in Service Station Retail and Commercial Fuel Cards
- Customer Experience in the Online Channel: Building Best Practice Strategies
- Debit Cards in Chile
- Payment Behavior and Technologies in European Service Station Retail
- Next Generation Branch Banking
- Premium Cards: Targeting Affluent Consumers
- Credit Cards in China
- Pre-paid Cards in Chile
- Store Cards in Chile
- Atm Cards in Chile