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September 2010

Welcome to the Confero Connector Newsletter! It is delivered free to your e-mail address. This publication offers insight into customer experience measurement best practices and initiatives. You may subscribe or unsubscribe at any time.
Financial Reform Laws to Impact Bank Customer Experience
 head to head
While consumers benefit from improved financial literacy as required by the Consumer Financial Protection Bureau, financial institutions face tough challenges ahead in delivering customer experience in accordance to new standards. points out, "Title X of the bank-reform bill will create the Bureau of Consumer Financial Protection, a watchdog that aims to clean up the consumer marketplace, and improve product disclosures and financial literacy so that consumers ultimately can make better purchases.  Credit cards, mortgages, account overdrafts, payday loans are among the products that the new watchdog is likely to take up."


Read the full article here
Debit Card Options May Change Casual Dining Customer Experience

Pharmacy PhotoRestaurants stand to improve customer's payment experience because they now have the ability to offer more payment options to diners.  The new Dodd-Frank Wall Street Reform and Consumer Protection Act means that restaurant operators can save on credit card fees.

Consumers who prefer to pay for meals using a PIN based debit option, as opposed to a signature based debit or credit transaction, benefit from a speedier transaction since they only need to enter their PIN and do not need to sign a receipt.  For restaurants, this is a terrific bottom-line boosting offering, as transaction fees associated with PIN-based transactions are significantly lower.  For restaurants that elect to offer this option, it will be critical to determine new protocols from customer experience at payment time and train staff accordingly.  Additionally, restaurants should gain opinions directly from diners about the ease of use and desirability of the new payment method.  This can be easily done by adding to existing customer surveys.  Diners can reveal any aspects that may not meet their expectations and restaurants can adjust in order to improve experience.
Read the full article here
Preparing for Holiday Sales Period: Upselling and Resulting ROI

YouTubePreparing your stores for the busy holiday sales period is top of mind right now.  In addition to ensuring appropriate inventory and staffing levels, how do you train and evaluate employees before this peak season begins?  To make the season the most productive, guide employees on expectations now to add impact to your bottom line.  If you want to learn more about the actual impact of employee sales behaviors to the bottom line, use Confero's Return on Investment Calculator.  Here are three steps to help you get the most from the holiday sales period:
  1. Evaluate employee selling behaviors.  Are they listening to customers and identifying ways to meet their current needs as well as suggesting other products or services?  Are they upselling consistently?
  2. Identify weak areas and common missed opportunity scenarios and devise training to address improvement.  Identify positive actions and encourage staff to continue them. 
Read the full article here.
September 2010: Low Hanging Fruit: These Stats Show Opportunities to Best the Competition

bar graph with red arrowGen Y Spends Less Dining Out
If you manage restaurants that cater to the young adult segment, you know how important it is, especially now, to create a positive dining experience.  If the experience isn't good, not only will young diners quickly voice their opinion through various social media outlets such as Facebook, but they will also think carefully about where they spend their dining dollars next time.  Young adults between the ages of 18 and 24 have typically comprised the largest dining segment for many restaurants. 
This has changed dramatically over the past two years:  "In the two-year period between May 2008 and May 2010, annual per-capita meal and snack occasions dropped from 242 to 216 for those ages 18 to 24. Those between the ages of 25 to 34 decreased their dining out occasions from 257 to 238 during the same period, according to NPD's CREST research." 
Read the full article here.
Confero: The Movie
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Sometimes, video is better than audio.  Here's our new Confero Movie which explains in just a few moments what we are all about.  Enjoy!
Confero Revitalizes Website
 businesswoman leaving
Confero announces the launch of its new website, which features the following improvements:
  • More content-rich pages that focus on helpful information for clients and prospects
  • "Subscribe to our newsletter" link on homepage 
  • Learn How We Can Grow Your Business" section including:

    • "About Us" movie: Confero's Capabilities
    • Two videos: Confero's Data Collection Methods and Reporting Overview
    • ROI (return on investment) Calculator: An easy-to-use tool to measure potential payoff from customer experience measurement
We invite you to explore Confero's new website and try out the new enhancements! 
All of us at Confero hope you enjoy this newsletter. Feel free to share this information with colleagues and friends. We would appreciate your comments about the articles and suggestions for future issues.  
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Elaine Buxton
President & CEO
Confero Customer Experience Research
In This Issue
Financial Reform Laws to Impact Bank Customer Experience
Debit Card Options May Change Casual Dining Customer Experience
Preparing for the Holiday Sales Period: Upselling and Resulting ROI
September 2010: Low Hanging Fruit: These Stats Show Opportunities to Best the Competition
Confero: The Movie
Confero Revitalizes Website
Mystery Shopper Comments of the Month

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What would you do if one of your employees made one of these comments to a customer?____________________ 

"She looked at me and rolled her eyes and asked what she could do for me
"While I was dining, I saw employees smiling and laughing with each other, but they didn't smile when interacting with the customers."
"The manager looked at me and, without a greeting, frowned, and said, 'Yes?'"
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