Inadequate diagnosis, based on bulk surveys, doesn’t allow for a reliable answer to the question of why your customers jump ship. Nowadays, customer retention is a real challenge for financial institutions. Given that the modern consumer is twice as likely to share negative feedback than a positive one*, a dissatisfied client becomes a particular image risk for the bank. However, this can also be an opportunity.
VoC is the foundation for designing modern banking products and services. On this journey, it’s not enough to simply ask questions at random, based on customer databases. The point is to create active listening opportunities that will truly personalize your questions.
Do you know at what point your customer is delighted with the service? What makes them consider changing their bank immediately? You will obtain the answers only by accompanying the customer in what they are doing.
* Research by the Marketing Department of the Kozminski University.