"It's Not About Satisfaction, It's About Engagement"
According to a recent Gallup poll, which involved retail banking customers, it was found that ‘banks that only consider customer satisfaction – even extreme “top box” satisfaction – are leaving significant cross-selling and up-selling opportunities on the table”, re-enforcing the point made in our previous article about engaging customers and creating emotional attachments with them.
Stats from the Gallup survey showed that;
- Less than half (45 percent) of customers who are satisfied say they would consider their bank the next time they needed a product or service, however, that skyrockets to 83 percent among customers who are both satisfied and fully engaged.
Aside: I don't have a citation, but a colleague in the financial services industry recently told me that even the top-ranked banks are below the worst ranked automotive companies when rated for service. Food for thought.
Improve Your Customers' Experience
CXRM helps you improve customer engagement and the experience your customers have with your business. Read more about the business benefits of using CXRM.