Banks need to reconnect with their customers

“A successful business must be built off the back of serving customers well,” that’s what Stephen Hester, Chief Executive of the Royal Bank of Scotland has told the BBC’s Today programme as he admits banks have become “detached from society”.

Reading this article on the BBC Business News http://www.bbc.co.uk/news/business-19107542, InsightNow couldn’t agree more.

Our 2012 Customer Relationship Index – in collaboration with social media consultancy, immediate future, reveals that most banks are not meeting their customers’ needs, resulting in low customer experience scores, low levels of customer loyalty and high levels of negative sentiment.

The above matrix provides a high level overview of the results from the 2012 Customer Relationship Index from InsightNow and immediate future. A comprehensive study of the banking sector, it covers the major High Street and telephone/internet banks, showing brand performance in customer experience and customer loyalty, and an understanding of how their performance is reflected within the social media space. Our research underpins Mr Hester’s view that the banks need to begin putting their customers first and the industry as a whole needs to embrace Customer Experience with full executive commitment from the top down. 

In Mr Hester’s words “A successful business must be built off the back of serving customers well, and until we as an industry can say we are doing that, we won’t have finished the changes we need to make.”

If you would like to know more about InsightNow’s Customer Relationship Index please register above to be notified when new Blog posts are available and get in touch with Marcio Rodrigues on 0207 492 1895 or marcio.rodrigues@insightnow.co.uk.