Do Banks Generate Their Own Customer Types?
(14 August 2023 – Global) Expanding on the successful NZ Business Banking Attribute Monitor and Resurrection of the RM Global Insight Report, East is exploring key reasons for CFOs switching, and more importantly remaining, with their primary business bank.
As customer churn intentions surpass record highs and panel banking intensifies, what role do RMs play in imparting a valued “human touch” on rapidly evolving digital processes?
When engaging with a bank, how do corporates choose one provider over another? Which relationship, operational and perception factors are more important than others?
What best practice examples are there for corporate banks winning and retaining more customers across Cash Management and Liquidity, Trade and Supply Chain Finance, Business FX, Payments and Asset Finance?
Bank Attribute Monitor
Our research shows that it is critical for providers to “talk the talk before walking the walk”. We are firm believers in effective communications that map to customer concerns and interests really driving the value proposition, product, delivery/coverage and competitive differentiation of financial services providers. In our experience, mind share/brand perception has become the single biggest driver of customer acquisition, retention, wallet gain and cross sell, far outweighing historical drivers of customer satisfaction and advocacy.
Contact East & Partners to tap into the psyche of corporates and their perceptions towards RMs and product specialists, what attributes are “nice to have” vs “must have” and which product and service deficiencies will lead to customer attrition.