90% of unsatisfied customers will not leave negative feedback but will go to your competitors. That means you must always keep an eye on your bank standards to be sure your company implements them in practice and not on paper. Mystery shopping Services is one of the most popular and constantly updating methods that banks use for this purpose. Why? Keep reading to know more about it.

5 Reasons Why Your Bank Needs Mystery Shopping Services

5 Reasons Why Your Bank Needs Mystery Shopping Services

Accurate evaluation of your staff performance

Internal scheduled audits may not reveal the real picture of the business process: knowing that inspection comes, all the employees become friends and the office shines. Even if you don’t inform your employees about it, they may figure out. Besides, internal reports are one thing and independent research is totally another. Thus, you need a neutral outsider who pays attention to important details, objectively evaluates staff knowledge at every stage of interaction with clients.


Impartial customer satisfaction measurement

When someone becomes your customer, your client’s relations with him just begin. That’s why, besides the financial conditions, your potential clients think about the service convenience, bank atmosphere, and employees’ professionalism while selecting a bank. To get more satisfied clients, the banking sector has the high and elaborated standards that your employees must express with every gesture, action or word. But how does mystery shopping provide more accurate feedback? Mystery shoppers come and act like normal customers, so they can put themselves in the shoes of real customers. They pass special courses and training to be precise, act naturally and avoid information distortion. So, you get real information from an external point of view.


Recommendations for training

Your employees may do something wrong not because they are lazy or irresponsible but because of unclear instructions or lack of knowledge. That’s why the initial aim of mystery shopping isn’t just to punish them or give them incentives but to understand drawbacks in their performance and eradicate them. Secret shopping agents can give you not only an assessment but also recommendations based on which you can arrange your personnel training.


Highly motivated staff

Sometimes managers do not pay attention to responsible and diligent, but those who prefer to be in shade employees, and, on the contrary, admit the work of their more extroverted colleagues.  A secret shopper describes staff behavior and the manager can fairly distribute reward. Apart from that, a series of mystery shopping visits encourage your personnel to work harder after the first visit. As a mystery shopper acts like a regular client, they will perceive all of your customers as a potential mystery shopper inspector.


Spying your competitors

You can send a secret shopper at your competitors’ offices and find out their weak points, advantages and understand how they solve their problems. Having got a mystery shoppers report, you can implement your competitor’s methods and improve your business process and correct customer service standards.

The most important point we didn’t mention above because it flows from other points is sales boosting. Accurate performance evaluation, smooth business process, motivated and effective employees, and satisfied clients lead to a strong brand and, consequently, more deals and market leadership.

5 Reasons Why Your Bank Needs Mystery Shopping Services

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