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The Role of NPS in the Banking Industry

SurveySensum

Customer loyalty and satisfaction are crucial when it comes to banks. More than often, customers are attracted to banks that value them and offer good service. But when every bank strives to achieve the same, how can you get a competitive edge? How to use NPS in banking and financial services?

Banking 52
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Consumer banking: money can’t buy loyalty

Currency Alliance

A 2018 Collinson study reported that 66% of financial services professionals say their bank “does not understand why customers are loyal or have a strategy to strengthen customer relationships”[i]. People are more likely to leave their spouse than their bank[ii], so it might seem that banks have no case to answer.

Banking 40
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Referral marketing software for the win: Our top 20 picks

BirdEye

Referral marketing is a strategy that encourages existing customers to refer new ones to your business. It’s an organic way that leverages the power of word-of-mouth — the most credible form of advertising — to grow your customer base. Yotpo Yotpo leverages customer reviews to boost referral efforts.

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5 Rules That Absolutely Build Customer Loyalty

Beyond Philosophy

Many organizations drive their actions to suit quarterly reporting, sales figures, and profits for this year and, as a result, don’t think long term. However, customer loyalty necessitates thinking long term. Wells Fargo is a big retail bank in the U.S. It’s the same situation with airline loyalty programs.

Loyalty 172
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Building Brand Trust in a Recession

2020 Research

In this article, we’ll walk through five takeaways we found in our 2022 US Banking Industry Loyalty Report , so you can better understand how to maintain brand trust: Share the “Why” Behind Your Business’ Purpose. Don’t Expect Your Customers to Be Loyal. Do not expect loyalty from your customers — earn it.

Brands 52
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Loyalty partners: co-creating customer value

Currency Alliance

Loyalty partnerships with complementary brands are the best way to create additional value, for customers and for your business. Depending on the maturity of your loyalty program, you may already have some program partners, or be a partner in somebody else’s program. The value can be immediate.

Loyalty 59
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Eliminating Experience Pain Points, and Creating Customer Satisfaction: Is This Ever Enough?

Beyond Philosophy

The surveying, such as referenced by TD Bank, to identify what drives satisfaction-reducing pain will provide superficial guidance on emotional drivers of desired customer behavior. These are hard investment decisions that come from a deep understanding of customer pain points and a commitment to be better.”.