Go on. Call your subservicer. Are they answering in 60 seconds or less? Or, did they leave you on hold for 10, 20, or even 45 minutes?
If your wait time felt like forever, guess what? That’s the exact same type of infuriating situation that you’re putting your customers through.
And worse. They’re telling everyone they know about it, and the person they’ll blame for the terrible service won’t be the servicer. They’ll blame you, the lender, since your customers don’t know your subservicer isn’t you.
To your customers, there’s no “sub” in subservicing.
Customers tell an average of 15 people about a poor service experience, according to the American Express 2017 Customer Service Barometer.
And they’ll likely splatter it across all the social platforms too. Then, with a few rapid-fire negative reviews now online, a complaint to the BBB, you just lost everything you invested in that customer, along with prospective customers.
It’s vital to your customers — and you — that you partner with a subservicer who’s one step ahead of your customer and provides meaningful value to you both.
Great subservicing is about great customer service. And in today’s fast-paced environment, customers don’t just expect great customer service, they demand it.
Fail to deliver great customer service and it could cost you brand loyalty. Approximately 62% of Millennials will switch brands after one bad experience, the NewVoiceMedia Serial Switchers Study in 2015 found.
Make sure you’re picking the right partner. If you’re serious about wanting a subservicer who will value your customers as much as you do, consider this check list. It breaks down everything you and your customers need to build a trusting and lifelong relationship.
Make the call. Put your subservicer to the test. And while you’re on the phone, see if they deliver on this checklist. Don’t risk your customers, past, present and future, by partnering with a subservicer who doesn’t know a thing about great service. At TMS, one of our Core Values is Rock Solid Service, and we strive to deliver on that every single day.
