Key Banking and Financial Industry Performance Issues

Successful Banking and Financial Institutions know that establishing trust with customers is the key to establishing long term brand loyalty. That trust-building relationship starts with first impressions of your branch, grows through the experience of superior customer service and cements itself with non-intimidating explanations of proper product suggestions that meet and exceed the needs of your customer. Are your branches hitting all those marks the way that you need them to?

For over 40 years now, Shoppers’ Critique International has been providing high-quality, reliable and timely customer intelligence to a large number of America’s best brands. We’ve learned what makes successful operations the champions that they are, and why the rest fall by the wayside. It all has to do with staying on top of your business and its brand standards, as well as investing in the customer intelligence products that give you the reliable data needed in order to empower you with critical knowledge and customer perceptions. A quick list of some of the more measured variables in the banking and financial industry includes:

  • Which financial services products are our associates focusing on?
  • Are we in compliance with full disclosure and other regulations?
  • What is the customer’s first impression of the bank?
  • Do we hard up sell, do we order take or do we “sweet sell” while maximizing sales opportunities?
  • Are we “servicing” customers or “processing” customers?
  • Which things about us create brand loyalty and repeat business, and which diminish them?
  • Do our employees come across as professional, friendly and trustworthy?
  • How do our customers feel about each specific branch and our brand overall?
  • What are people saying about us on Facebook?
  • How does our banking experience compare with our competitors?
  • Which operational adjustments can garner higher returns?
  • What do our customers perceive as our negatives and how do we reduce them?
  • How do our different branch locations score and compare with each other?
  • Are all personnel following the specific training and protocols that we provided them with?

Over the years, we’ve seen the best of the best banking and financial institutions continually invest in customer intelligence data, and use that data to tweak brand positioning, customer service platforms or branch operational procedures to maximize the customer service experience, which leads to greater brand loyalty, positive halo and word of mouth, and ultimately, optimal sales performance and market share.

Maximum sales performance equals maximum revenue, and Shoppers’ Critique International has a proven suite of measurement and marketing tools to ensure your business is creating the best possible customer service and sales environment possible to drive profits and deepen customer loyalty.

Customer Intelligence Best Practices for Banking and Financial Services Institutions

Acquiring and maintaining exceptional customer service levels requires the ability to consistently gather and measure data and feedback throughout your value chain. Below are the most prominent areas that clients of Shoppers’Critique International use to gather customer intelligence and improve overall performance.

  • Phone Inquiry Experiences
  • On-Site Information Gathering (Checking/Savings)
  • On-Site Routine Teller Transactions
  • On-Site Financial Planning Consultations
  • Rate/Product Comparisons
  • Competitor Analysis
  • Social Media and Reputation Tracking
  • Employee Climate Status

Benefit from our four decades of experience by requesting a consultation today. We can help you develop a customized plan to address the needs you know you have, and the ones you didn’t even know existed.

Recommended Measurement Tools Include:

  • On-Site Mystery Shops
  • On-Site Audio Shops
  • On-Site Video Shops
  • Phone Shops (Recorded or Non-Recorded)
  • Internet Shops
  • Competitor Shops
  • Neuro-Economic Profiling
  • Receipt-Based Web Surveys of Customers
  • IVR (Phone) Surveys of Customers
  • Web Survey
  • Employee Climate Surveys
  • Focus Groups
  • Social Media Monitoring

Request a No-Obligation Demo of our Proprietary ShopMAX Data Reporting System!