Review Analysis-First National Bank

For this assignment our goal was to pick one of our companies and do a review analysis through Google Maps and Chat GPT

Positive Review Analysis

First Analysis
I found positive reviews on First National Bank and put them into Chat GPT and had it write me what the customers were most satisfied with based on the reviews

RESULTS:

Based on the reviews, the customers are most satisfied with the following aspects:

1. Efficient and Quick Service: The customers appreciated how quickly Scarlet Harkin was able to turn things around for them, especially after facing setbacks with another bank. The loan process, which could have taken much longer, was completed in just a few days.
2. Stress-Free Experience: Both reviews highlight how Scarlet, Allisyn, and the team made the entire process much smoother and less stressful. They made sure to keep the customers informed, answered questions promptly, and provided guidance throughout, which contributed to an easy and manageable experience.
3. Personalized Attention: The second review specifically mentions how Scarlet and Allisyn took the time to understand the customers’ unique situations, which made a big difference in providing the right advice and support at every step.
4. Professionalism and Responsiveness: Customers were pleased with how professional, knowledgeable, and responsive Scarlet and Allisyn were. Their prompt communication and ability to guide the customers effectively contributed to a positive experience.

Second Analysis (word association)

For this prompt I put the following in Chat GPT ‘Extract positive keywords from those reviews, and analyze the frequency and associations of these keywords.’

RESULT:

Here’s an analysis of the positive keywords extracted from both reviews, along with their frequency and associations:

Positive Keywords and Frequency:

1. Scarlet Harkin – 2 mentions
2. Allisyn – 1 mention
3. First National Bank – 2 mentions
4. Amazing – 1 mention
5. Dream home – 1 mention
6. Quick/Efficient – 2 mentions (associated with speed and efficiency)
7. Stress-free – 2 mentions
8. Professional – 2 mentions
9. Knowledgeable – 1 mention
10. Responsive – 2 mentions
11. Guidance – 2 mentions
12. Smooth/Manageable – 2 mentions
13. Informative – 1 mention
14. Support – 1 mention
15. Reassurance – 1 mention
16. Questions answered promptly – 1 mention
    

    Associations and Analysis:

    • Customer Support & Service:
      Words like Scarlet Harkin, Allisyn, professional, knowledgeable, responsive, and guidance are all linked to excellent customer support. These terms emphasize that both individuals provided expertise and timely, clear communication, leading to a smooth process.
    • Speed & Efficiency:
      The keywords quick/efficient, stress-free, and smooth/manageable highlight how the customers valued the speed of service. Scarlet, in particular, turned the situation around in record time (under three days), and the process was described as stress-free. Efficiency seems closely tied to customer satisfaction, with customers appreciating fast but thorough action.
    • Stress Reduction & Ease:
      The word stress-free appears multiple times, emphasizing that the customers felt supported and cared for, reducing the usual stress associated with mortgage processes. This is associated with guidance and support, suggesting that the customers felt confident in the team’s ability to handle their needs efficiently.
    • Personal Connection & Trust:
      Reassurance and the phrase dream home suggest a high level of emotional satisfaction. Customers felt reassured, particularly after being let down by another bank. The fact that they ended up securing their dream home implies a strong emotional connection to the process, with Scarlet and Allisyn playing key roles in turning the experience into something positive.

    Word Associations:

    • Scarlet Harkin and Allisyn are directly associated with professionalism, knowledge, guidance, responsiveness, and support.
    • First National Bank is tied to the overall positive service but is less frequently mentioned than the individual team members.
    • Stress-free, smooth, and efficient are terms that emphasize the ease of the process.
    • Responsive and questions answered promptly highlight how quickly the team acted to address customer needs.

RECOMMENDATION

For the last step I typed the prompt ‘What would be suggestions from the findings?’

RESULTS:

1. Continue to Emphasize Personalized Service

• Suggestion: The reviews repeatedly highlight the personal attention that Scarlet and Allisyn provided by taking the time to understand each customer’s unique situation. This personalized approach was key to making the process smooth and stress-free. Action: Continue prioritizing one-on-one communication with customers, especially in complex situations, to ensure their concerns are heard and addressed.
• Potential Improvement: Formalize the process of understanding each customer’s unique circumstances early in the interaction, perhaps with a questionnaire or an initial consultation call, to make customers feel heard right from the start.

2. Maintain High Efficiency and Quick Turnaround

• Suggestion: Customers clearly valued the quick and efficient service that allowed them to avoid delays and secure their loans in a timely manner. Action: Keep streamlining internal processes to ensure quick responses and minimal delays, particularly for clients in time-sensitive situations (like the customer in the review, who was eight days away from closing on a house).
• Potential Improvement: Introduce or reinforce a “fast-track” option for time-sensitive clients, where you offer prioritized service without sacrificing the quality of advice and documentation.

3. Strengthen Communication and Responsiveness

• Suggestion: The responsiveness and clear communication were central to customer satisfaction. Customers appreciated that their questions were answered promptly, which reduced stress. Action: Continue to ensure that clients can reach out easily and expect fast responses to any inquiries. This can be achieved through quick email replies, phone call follow-ups, or even using a customer portal for updates and questions.
• Potential Improvement: Consider setting up automated systems or tools to help with basic inquiries, so clients can get faster responses on frequently asked questions while still having easy access to a live representative for complex issues.

4. Reinforce the “Stress-Free” Experience

• Suggestion: A key part of the positive feedback was how stress-free the process felt. Maintaining this sense of ease should remain a priority. Action: Provide clear expectations and timelines for clients upfront to avoid any surprises or confusion, especially during the paperwork phase. Ensure that customers know what steps are coming next, and when they can expect things to be completed.
• Potential Improvement: After each major step, consider sending customers a “next steps” email that outlines what to expect next, or even a brief check-in call to reassure them and keep the process feeling transparent and manageable.

5. Build on Trust and Relationship Development

• Suggestion: Many customers felt an emotional connection to their “dream home” goal and trusted Scarlet and Allisyn to help make that dream a reality. Action: Keep fostering strong customer relationships by offering more opportunities for clients to engage with the team. This could involve post-loan follow-ups, regular updates on new mortgage products, or even celebrating milestones with the customer (like closing the loan, or home purchase anniversaries).
• Potential Improvement: Consider introducing a “client appreciation program” where repeat customers or those who refer others are recognized in some way, reinforcing the strong, ongoing relationship.

6. Leverage Positive Testimonials for Marketing

• Suggestion: These reviews indicate that Scarlet and Allisyn have delivered outstanding service. Action: Use these positive testimonials in marketing materials and on the First National Bank website to attract new customers. Highlight customer success stories in targeted campaigns, particularly in areas that emphasize quick, stress-free home loan approvals and personalized service.
• Potential Improvement: Regularly ask satisfied customers to share their stories in the form of testimonials or social media posts. Consider offering small incentives for customers who participate, as this can boost word-of-mouth marketing.

7. Train and Scale Based on Success

• Suggestion: The success of Scarlet and Allisyn’s approach can be used as a model for training others at the bank. Action: Develop training programs for other employees, focusing on the key strengths of responsiveness, efficiency, and empathy.
• Potential Improvement: Invest in team-building activities that encourage empathy, personalized service, and a solutions-driven approach to help other employees replicate Scarlet and Allisyn’s success across the bank.

8. Enhance Digital Tools for Customer Experience

• Suggestion: While personal service is key, there is room for improvement in integrating technology to further streamline the process. Action: Explore new tools or apps that can help manage documents, communicate progress, and track milestones for clients. Providing customers with a simple digital dashboard could enhance their experience.
• Potential Improvement: Offering secure document sharing, real-time loan status tracking, and easy communication via a mobile app or online portal could elevate the experience even more.

Negative Review Analysis

FIRST ANALYSIS
Our goal was to find reviews with 1-2 star ratings. I put in the one negative review I could find and used the prompt ‘What are the customers least satisfied with based on the reviews?’

RESULTS:

1. Lack of Communication:

• Issue: The customer felt there was minimal communication from Scarlet. They mention that after being promised updates, there were long delays (up to two days), with very few updates provided when they were received.
• Impact: This created frustration, as they felt left in the dark, especially during an already stressful process like buying a home.

2. Unclear or Misleading Information:

• Issue: The customer describes being told that they qualified for certain programs but later discovered they didn’t meet the qualifications, particularly when their income exceeded the program limits. They also felt that the lender allowed them to go through extensive paperwork and classes, despite knowing they would not qualify.
• Impact: This led to a sense of wasted time and effort, causing the customer to feel misled or misinformed about the loan process and eligibility requirements.

3. Lack of Attention to Detail:

• Issue: The reviewer mentions that Scarlet was apparently preparing to go on vacation right before closing, which they believe contributed to a lack of attention to important details. They imply that Scarlet did not properly ensure everything was in order (“T’s weren’t crossed, and I’s weren’t dotted”), leading to last-minute issues and a denial with minimal explanation.
• Impact: The customer felt that Scarlet’s lack of thoroughness and attention to detail caused unnecessary delays and ultimately led to a denial, which could have been avoided with better preparation and follow-through.

4. Denial with Minimal Explanation:

• Issue: The review highlights that the final denial came with very little explanation, leaving the customer feeling frustrated and confused about why they were rejected.
• Impact: This lack of transparency around the denial led to dissatisfaction and a sense of being treated unfairly or not being properly informed about the reasons for the decision.

5. Overall Lack of Helpfulness and Support:

• Issue: The customer felt that Scarlet was unhelpful and unmotivated to assist them in moving forward with the process. They mention that she “clearly had answers” but didn’t take action or show interest in helping the customer reach their goal.
• Impact: This perception of a lack of effort from the lender contributed to the negative overall experience and made the process feel frustrating and unproductive.

6. Dissatisfaction with First National Bank:

• Issue: The reviewer concludes that they would never use this bank or lender again for any of their needs, signaling their complete dissatisfaction with the service they received.
• Impact: This suggests that the issues with Scarlet and the overall experience have led to a strong sense of distrust or dissatisfaction with First National Bank as a whole.

SECOND ANALYSIS

I then typed the prompt “Extract negative keywords from those reviews, and analyze the frequency and associations of these keywords.”

RESULTS:

Negative Keywords and Frequency:

1. Worst – 1 mention
2. No communication – 1 mention
3. Minimal updates – 1 mention
4. Do nothing – 1 mention
5. Never again – 1 mention
6. Shop around – 1 mention
7. Misleading – 1 mention
8. Denied – 1 mention
9. No qualification – 1 mention
10. Last minute – 1 mention

RECOMMENDATION

The prompt I typed in ‘What would be suggestions from the findings?

1. Improve Communication and Transparency

• Suggestion: Proactively communicate with clients throughout the loan process, especially during key stages. Customers should never feel left in the dark or unsure about the progress of their loan.
• Action: Set clear expectations for response times (e.g., updates every 24-48 hours) and ensure all questions are addressed promptly. Even if there are no significant updates, sending a brief note to confirm that the loan is progressing can help build trust.
• Potential Improvement: Use automated notifications or a client portal that can provide real-time updates on the loan status, documentation requests, and upcoming deadlines. Regular check-ins or “progress reports” could help maintain transparency.

2. Ensure Proper Program Eligibility Screening

• Suggestion: Verify program qualifications upfront to avoid misleading customers about eligibility. Customers should not be asked to complete extensive paperwork, take classes, or invest time in a process that they are ultimately ineligible for.
• Action: Before starting the application process, conduct a thorough pre-qualification review to ensure the customer meets the criteria for specific programs or loans. If there are limits, such as income caps, these should be clearly communicated at the outset.
• Potential Improvement: Train all loan officers to better explain eligibility criteria and provide written confirmation of qualification status early in the process. This helps manage expectations and avoids wasting time on programs the customer cannot access.

3. Improve Handling of Loan Denials and Explanations

• Suggestion: Provide clear and detailed explanations when a loan is denied. The customer should not feel blindsided by the decision, and they should fully understand the reason behind it.
• Action: When a denial occurs, schedule a follow-up call to explain the specific reasons for the rejection and discuss potential solutions or alternatives. This helps customers feel more informed and less frustrated by the decision.
• Potential Improvement: Provide written documentation of the denial with clear reasoning, along with any actionable steps the customer can take to address the issues for future applications. This ensures that the customer feels heard and supported.

4. Improve Attention to Detail and Follow-Through

• Suggestion: Ensure thoroughness and attention to detail, particularly during the final stages of the loan process. Customers expect the lender to be well-prepared and not leave things to the last minute, especially before a crucial deadline.
• Action: Loan officers should double-check all documentation, requirements, and deadlines to ensure that everything is in order well before the closing date. If vacation or time-off is planned, it should not interfere with critical timelines.
• Potential Improvement: Develop a system that flags upcoming deadlines and required actions, ensuring that nothing is missed, and that the loan officer has ample time to review everything before submission.