One of the areas of in-branch service that’s ripe for innovation is queue management. Consumers have grown accustomed to seamless service in most areas of their lives, and they are certainly looking for it in their banks. Few, if any, customers would say they want to deal with long wait times and disjointed service.
Why are queues such an issue for retail banks?
McKinsey revealed several market realities that retail banking leaders have to contend with when it comes to their customer service models. In fact, as many financial products become commoditized, customer service is increasingly a differentiator for retail banks.
Slow or disorganized queues and lobbies can be extremely detrimental to customers’ perceptions of a branch’s service. Even during peak hours, customers will expect prompt service that solves their problems. Banks that fail to consider good queue management or crowd management practices will inevitably frustrate customers.
Adding to the customer’s stress and urgency levels are the times in which people tend to go to the bank: before they go to work, during a lunch break, the time between leaving work and going home for the evening – in other words, peak hours. They want to get in, get what they need, and move on with their days. Even if customers aren’t necessarily in a rush, it’s unlikely they want to spend more time than they absolutely have to waiting in line.
It doesn’t matter if wait times in one branch are not noticeably different from any other branch at any other bank, customers who perceive their time is being wasted will develop a negative impression of their bank.
That’s why queue management is more than just optimizing queues for speed. Most people are going to think they waited longer than they did, even if they truly received fast service. Thus, missing some of the other dimensions of managing a queue – such as communication, transparency, fairness, and occupied time – can force customers into a frustrating experience, which can be incredibly detrimental to the overall customer experience. In the case of a customer who is already dealing with a stressful financial problem, the added frustration can damage the relationship irreparably.
Poorly managed queues impact bank staff and managers
Poorly managed queues aren’t just a customer problem. Bank staff and management are also affected by poor queue management. The following are just a few issues that can negatively impact employees, and by extension, the bank as a whole:
Managers have a lack of insight into when peak and lull times are at the individual branch level, leading to inappropriate levels of staffing.
Managers can’t pinpoint issues in the customer service experience, such as one employee who is slowing the queue due to inadequate training, or customers who have a certain problem that consistently takes longer to solve and requires better processes to handle. Employees cannot prepare for the customers who are coming up in the queue, many of whom will have unique needs. This forces the staff member to ask multiple discovery questions just to understand what action needs to be taken.Employees have to not only solve a customer’s problem, but potentially have to deal with a frustrated person who expects fast service.
Mismanaged queues lead to frustrated customers, stressed out employees, and managers who are at a loss as to how they can remedy the issues with their branches.
What happens when queues are done right?
The consequences of chaotic queues are well-known, but what does a queue done right offer? There are several benefits to banks and their customers.
Better customer experience
This almost goes without saying – of course customers will find their experience in a branch much more enjoyable if they don’t find waiting in line to be irritating. However, given what has been revealed by in-depth studies about the role of the brick-and-mortar branch in an omnichannel banking experience, banks must see clearly the rewards that come with convenient and useful service in their branches.
Customers who come to a branch usually want to solve a
problem or get useful advice about their financial situation. It’s common for people to be anxious when they come in. Prompt service with minimal hassles can go a long way to alleviating that stress.
Faster customer service
More organized and efficient queues make it easier for banks to get customers to the right staff member to help them solve their problems and be on their way. Moreover, eliminating confusion in the queue allows for less downtime between customers.
Fewer walkaways
Customers who are in a rush may give up waiting if there is no end in sight to a queue. On the other hand, if queues are showing progress, with timely updates on estimated wait times, it reduces the chances that they will give up on their visit.