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Novated leasing is a sector propelled by government incentives for EV adoption, where competition is intense and customers are always searching for the best deal. The industry, still in its early stages, is witnessing a surge in businesses eager to capitalise on the growing public interest in reducing carbon footprints through accessible EV solutions.
Against this backdrop, the novated leasing sector has gone through a steep learning curve when it comes to customer service. The industry is still learning how to adapt its service proposition to the needs and demands of this fast-growing segment. Unless we perfect the art of attracting and servicing our customers, there’s a risk that we could lose customers from the sector entirely.
So, as we enter the new year, here are three invaluable lessons learned from my industry’s trial-by-fire. Even if you’re not in the novated leasing sector, these lessons can be applied to any business aiming to elevate its customer service game.
If your business involves complicated contracts or in-depth technical considerations, make sure your customer support team are equipped with the knowledge and communication skills necessary to explain service contracts in everyday language.
When explaining quotes to customers, prioritise transparency. Take the time to communicate the factors influencing the quote, empowering customers to make informed decisions aligned with their financial goals.
Taking things back to basics not only simplifies terminology and language for the customer but can help achieve faster response times – one of the biggest issues we hear about within the novated lease industry.
In today’s hyper-competitive business landscape, it’s critical that organisations can demonstrate an unwavering commitment to the details. There’s nothing worse than a business that doesn’t care about the little things. And conversely, there’s nothing better than a business that has gone the extra mile to ensure every little detail has been thought through with a fine-toothed comb.
In the novated leasing sector, for example, one small but important detail is the geographical limitations of fuel cards. Some companies offer fuel cards that only work in one or two locations, which can result in confusion and frustration when trying to track down the right store. But true customer service is about thinking about all the end-to-end customer experience and solving all the little details along the way.
Modern customers value flexibility. Whether it’s avoiding lock-in contracts or providing a generous returns policy, your customers will appreciate a business that makes their service or product as flexible as possible.
At Novated Lease Australia, for example, we believe in giving employees choices. This stands in contrast to some providers whose strategy is to offer cheap pricing to win the first few employees and try to lock you into an exclusive contract, meaning your employees are unable to work with any other novated leasing provider. To make things worse, more often than not once an exclusive contract is signed, the pricing often creeps up with it.
Unsurprisingly, this lack of flexibility often leads to disillusioned and frustrated customers. By avoiding any approach that can make customers feel cornered, businesses have a much better chance of building trust and fostering long-term loyalty. A vehicle is a financial commitment, and giving them a choice helps ensure they are getting the best financial deal possible.
So, whether you’re in the novated leasing sector or any other industry, keep these principles top of mind as we head into the new year. When applied consistently, can they can help elevate your customer service game, fostering loyalty and setting your business apart in a crowded market.
Bevan Guest is the CEO of Novated Lease Australia. With over two decades of experience in the automotive and financial services sector, he has led Novated Lease Australia to become a major market disruptor by providing innovative novated leasing and related services to people all over the country.
