Get Satisfaction, an industry leading people-powered customer service platform, recently publish a case study on how Mogo has optimized the platform to build brand transparency and deliver on their customer care guarantee. The case study is below.
THE CHALLENGE
“Our loan services challenge the status quo of the financial services industry by making it simple and easy for people to access money,” explains Philipp Postrehovsky, Online Community Manager for Mogo. The company differentiates itself from other cash advance companies by guaranteeing that they will be fully transparent about loan terms and fees, offer the lowest-cost loans and ensure high-quality service; if customers aren’t 100% satisfied with a Mogo loan, they can return the original amount within seven days, and they won’t be charged anything.
Mogo’s CEO first discovered Get Satisfaction on sites such as Mint.com and immediately saw its potential for the business. At the time, Mogo was using a simple web form to gather customer feedback – but they always saw social media engagement as part of their long-term strategy. “With the web form, we were limited to one-to-one communication, which didn’t increase transparency for our customers or help us engage with people already talking about us on other social media sites,” explains Postrehovsky.
With Get Satisfaction, they could not only engage their “Mogo savings community” in new ways, but also bring the company’s brand – which is all about transparency – to life for their customers and prospects. States Postrehovsky, “The transparency we’ve enabled with Get Satisfaction not only positively impacts our customers, but it also allows people to better understand us as a brand before signing up. This has allowed us to increase conversion.”
THE IMPLEMENTATION
In 2009, Mogo engaged Get Satisfaction to create a custom solution that would replace its online feedback form. They were up and running in a matter of minutes. Several months later, Mogo integrated its Get Satisfaction site with its Facebook Fan page, driving even more people to Get Satisfaction.
Like all Get Satisfaction sites, Mogo’s provides four ways for people to engage: ask a question, share an idea, report a problem and give praise. Interactions are inventoried and searchable so users can quickly see if their question, suggestion or issue has already been discussed.
THE OUTCOMES
Today, Mogo has up to 7,000 monthly visits to its Get Satisfaction site, which has played a vital role in bringing the company’s brand to life for both customers and prospects. “We encourage people to ask us anything on Get Satisfaction. Everything’s automatically posted for everyone to see and respond to, and an appropriate person from Mogo responds back quickly and in a fully transparent way,” explains Postrehovsky. “Customers can see that we have nothing to hide, which helps us builds trust and reinforce the Mogo brand.”
According to Postrehovsky, the more controversial the ques- tions that people ask, the better. “Hard questions give us the opportunity to overcome negative perceptions about the short-term loan industry so that more people will give us a try,” he adds. “And when customers write in about a service issue, we have an opportunity to publicly showcase just how seriously we take our guarantee of quality customer care.”
Get Satisfaction has also helped the company increase the quality of its customer service. First, Mogo employees can resolve many issues and concerns via direct, public responses, which creates a growing knowledge base that other people can search. And, second, when customer issues have to be handled offline (for example, because it will require the exchange of personal data), the senior operations manager who runs the call center can give customer service agents a head start on researching the situation and developing solutions. States Postrehovsky, “Because agents are more prepared to speak with an individual customer, problems get resolved faster and customers are happier.”
Get Satisfaction has also been a great source of customer feedback and ideas – many of which have been implemented on their website. “We’ve also been using Get Satisfaction to collect new ideas about product changes from customers – things we’d never thought of before,” adds Postrehovsky. “Our expectation is that customer-driven product changes will ultimately increase conversion.”
“No other company in our space is doing anything close to what we are doing from a social media perspective,” concludes Postrehovsky. “And Get Satisfaction plays a vital role in our success in this area.”
ABOUT GET SATISFACTION
Get Satisfaction provides a community-based software platform that helps companies engage online customers wherever they are—a company website, the Get Satisfaction network or inside social systems like Facebook. Get Satisfaction enables open, trans- parent conversations between customers and their peers, and with employees of the brands and organizations they are passionate about.
Get Satisfaction supports more than 36,000 customer communities with more than 20,000 organizations participating. Companies use Get Satisfaction to engage their customers in a effort to improve customer satisfaction, reduce support costs, provide market feedback and increase online awareness.
ABOUT MOGO FINANCIAL
Mogo is Canada's #1 short term lender. Mogo aims to become the amazon.com of money lending through better service, no hassles, the lowest price and no hidden fees. As the friendliest loan in town, Mogo is revolutionizing financial services in Canada by offering consumers convenient access to small loans, short terms and easy amounts to pay back.
THE CHALLENGE
“Our loan services challenge the status quo of the financial services industry by making it simple and easy for people to access money,” explains Philipp Postrehovsky, Online Community Manager for Mogo. The company differentiates itself from other cash advance companies by guaranteeing that they will be fully transparent about loan terms and fees, offer the lowest-cost loans and ensure high-quality service; if customers aren’t 100% satisfied with a Mogo loan, they can return the original amount within seven days, and they won’t be charged anything.
Mogo’s CEO first discovered Get Satisfaction on sites such as Mint.com and immediately saw its potential for the business. At the time, Mogo was using a simple web form to gather customer feedback – but they always saw social media engagement as part of their long-term strategy. “With the web form, we were limited to one-to-one communication, which didn’t increase transparency for our customers or help us engage with people already talking about us on other social media sites,” explains Postrehovsky.
With Get Satisfaction, they could not only engage their “Mogo savings community” in new ways, but also bring the company’s brand – which is all about transparency – to life for their customers and prospects. States Postrehovsky, “The transparency we’ve enabled with Get Satisfaction not only positively impacts our customers, but it also allows people to better understand us as a brand before signing up. This has allowed us to increase conversion.”
THE IMPLEMENTATION
In 2009, Mogo engaged Get Satisfaction to create a custom solution that would replace its online feedback form. They were up and running in a matter of minutes. Several months later, Mogo integrated its Get Satisfaction site with its Facebook Fan page, driving even more people to Get Satisfaction.
Like all Get Satisfaction sites, Mogo’s provides four ways for people to engage: ask a question, share an idea, report a problem and give praise. Interactions are inventoried and searchable so users can quickly see if their question, suggestion or issue has already been discussed.
THE OUTCOMES
Today, Mogo has up to 7,000 monthly visits to its Get Satisfaction site, which has played a vital role in bringing the company’s brand to life for both customers and prospects. “We encourage people to ask us anything on Get Satisfaction. Everything’s automatically posted for everyone to see and respond to, and an appropriate person from Mogo responds back quickly and in a fully transparent way,” explains Postrehovsky. “Customers can see that we have nothing to hide, which helps us builds trust and reinforce the Mogo brand.”
According to Postrehovsky, the more controversial the ques- tions that people ask, the better. “Hard questions give us the opportunity to overcome negative perceptions about the short-term loan industry so that more people will give us a try,” he adds. “And when customers write in about a service issue, we have an opportunity to publicly showcase just how seriously we take our guarantee of quality customer care.”
Get Satisfaction has also helped the company increase the quality of its customer service. First, Mogo employees can resolve many issues and concerns via direct, public responses, which creates a growing knowledge base that other people can search. And, second, when customer issues have to be handled offline (for example, because it will require the exchange of personal data), the senior operations manager who runs the call center can give customer service agents a head start on researching the situation and developing solutions. States Postrehovsky, “Because agents are more prepared to speak with an individual customer, problems get resolved faster and customers are happier.”
Get Satisfaction has also been a great source of customer feedback and ideas – many of which have been implemented on their website. “We’ve also been using Get Satisfaction to collect new ideas about product changes from customers – things we’d never thought of before,” adds Postrehovsky. “Our expectation is that customer-driven product changes will ultimately increase conversion.”
“No other company in our space is doing anything close to what we are doing from a social media perspective,” concludes Postrehovsky. “And Get Satisfaction plays a vital role in our success in this area.”
ABOUT GET SATISFACTION
Get Satisfaction provides a community-based software platform that helps companies engage online customers wherever they are—a company website, the Get Satisfaction network or inside social systems like Facebook. Get Satisfaction enables open, trans- parent conversations between customers and their peers, and with employees of the brands and organizations they are passionate about.
Get Satisfaction supports more than 36,000 customer communities with more than 20,000 organizations participating. Companies use Get Satisfaction to engage their customers in a effort to improve customer satisfaction, reduce support costs, provide market feedback and increase online awareness.
ABOUT MOGO FINANCIAL
Mogo is Canada's #1 short term lender. Mogo aims to become the amazon.com of money lending through better service, no hassles, the lowest price and no hidden fees. As the friendliest loan in town, Mogo is revolutionizing financial services in Canada by offering consumers convenient access to small loans, short terms and easy amounts to pay back.