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Customer Loyalty in the Financial Services Industry Market Assessment

  • ID: 3596
  • January 2000
  • Region: United Kingdom
  • Key Note Ltd
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Exclusive research carried out for Market Assessment by market researcher National Opinion Poll (NOP) Solutions is at the heart of this report. 1,000 adults were asked which aspects of customer service were important to them, and the most striking result is:

The paramount importance of knowledgeable and courteous staff.

There is no substitute for a direct relationship between the consumer and the company. `The more you treat your customers as individuals, by meeting and exceeding their needs, the more loyal they will be and the more inclined to buy further into the brand,' said Simon Avison, managing director of New Solutions, in Marketing (June 6 1996). `The customer needs to see that the company uses information to enhance the brand's benefits to him, rather than as a means to shower him with unsolicited promotions. Banks and building societies could use customer information constructively. Selling new services to their customers should be easy: the bank already holds a customer's details, and, with the data on screen, could offer those customers preferential facilities.'

Other main findings include:

There are many layers of loyalty, resulting from monopoly, READ MORE >

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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