Banking

RESEARCH PREMISE AND BACKGROUND Employees who actively “live the brand” create significant benefits for both the customer and the organization. Customers of organizations with employee brand advocates enjoy better customer service, greater expectationsof an ability to have their needs met, and more attentiveness to their voice and feedback. The organization also enjoys the benefits of word-of-mouth marketing, greater profitability and financial results, and a more differentiated brand. Another question might be, “how do we create great customer experiences'” As creating great customer experiences depends on who your customers are and what they most want from you. How are you as a manager planning to locate the brand and services in the minds of consumers to maximize customer-focused value. Marketers spend significant dollars on a variety of tactics to reach and communicate with customers and promote their brands. Organizations often underutilize their employees as a channel to connect and build relationships with customers, leading to fewer endorsements of the brand and the organization to customers and potential future customers. Authors are mentioning that without getting it right internally, the external message can confuse the perception of the potential customers. To help senior managers to evaluate their various employee segments: Those feel passionate about the brand and the message. Who live the brand not only at work but also in their community Those who meet customer basic need and participate in training but lack the enthusiasm. Those who lack the understanding of brand and unhappy at job. These points can help the manager to understand the influence of the employees on the long-term relationship with customers. However, besides telling your employees that they need to start acting differently because this will help to increase the identity of the brand, will not work. Nowadays, leaders need to motivate people. The inspiration is a key to a successful team. Especially, in the banking services where many complicated financial products are sold and employees constantly need to attend training on financial products. What I think that authors are not taking into account is that by informing the employees that they will be rewarded for the performance can create competition within a department, which will lead to a deform relationship between the colleagues. For instance, Abn Amro Bank in the Netherlands introduced this measure and reward in a Cash Management department where atmosphere within the department changed completely. The article concludes with the lessons for the future. There is no doubt that the crisis has revealed a serious failure in one of the most sophisticated markets in the world – modern finance.